All Shoe Intelligence articles in Volume 24, Issue 19+20 – Page 3
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News briefs
Global footwear market seen reaching $543.9bn by 2030
The global footwear market is expected to reach a size of $543.9 billion by 2030, thanks to a compound annual growth rate (CAGR) of 4.3 percent between 2022 and 2030, according to a report by Grand View Research, Inc. The research called “Footwear Market Size, Share & Trends Analysis Report ...
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Prada buys a stake in the tannery Superior
Prada has purchased a 43.65 percent stake in Superior, a Tuscan tannery specialized in calfskin processing, for an undisclosed amount. Superior has recently focused its investments on process digitization and a sustainable development plan centered on the circular economy, energy efficiency and water resource protection. According to the terms of ...
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News briefs
H&M’s Q3 sales decline in local currencies
In the third quarter ended Aug. 31, H&M generated net sales of SEK 57.450 billion (€5.38bn), up by a reported 3 percent, but down by 4 percent in local currencies. “The third quarter got off to a weak start, in common with the industry in many of the group’s major ...
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ArticleMicam attracts over 1,000 brands
Micam will host 1,012 brands at its forthcoming edition, scheduled from Sept. 18 to 20, or 23 percent more than during its March 2022 edition. Fifty-four percent of the brands are Italian and the remaining 46 percent come from abroad. Micam, which will be held at the Fieramilano Rho exhibition ...
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News briefs
EU court hold ups decision to fine Google
The European Union’s General Court has upheld a decision made by the European Commission to fine the U.S. research engine Google and its parent company Alphabet for abuse of dominant position but cut the compensation to €4.125 billion from €4.340 billion. Alphabet is jointly and severally liable in the amount ...
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ArticleInditex books strong H1 sales
Inditex, the Spanish group that owns the brands Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius and Oysho, posted sales of €14.8 billion in the first half ended July 31, up by 24.5 percent from a year ago and 25 percent higher at constant currencies despite the current inflationary environment and closure ...
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News briefs
EU plans to ban products made with forced labour
The European Commission has proposed to prohibit products made with forced labour on the European Union market. The proposal covers all products, including those made in the EU for domestic consumption and exports, and imported goods, without targeting specific companies or industries. “This comprehensive approach is important because an estimated ...
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News briefs
Instagram makes changes to its e-commerce options
Meta, the parent company of Instagram and Facebook, has announced another change to Instagram’s e-commerce options. According to an internal memo quoted by The Information, it plans to remove the platform’s “Shopping” page due to “shifts in company priorities.” Instagram plans to pivot toward a less personalized version of the ...
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News briefs
Economic sentiment worsens in Germany
In September, the economic sentiment index in Germany fell by 6.6 points to -61.9, as the economic outlook worsened significantly, according to the latest survey released by think tank ZEW. The assessment of the economic situation in Germany decreased sharply and currently stands at -60.5 points, 12.9 points lower than ...
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News briefs
Kolektive buys the U.K. footwear distributor 33 Joints
The investment company Kolektive Ventures, which trades under the name Projekt Indigo in the U.K., has bought a majority stake in the British footwear distributor 33 Joints in a move to establish its presence in the U.K. footwear market. Kolektive aims to help 33 Joints build up awareness for the ...
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News briefs
BasicNet to open “Basic Village” in Milan
The Italian group BasicNet will open its “Basic Village” in Milan on Sept. 21 during Fashion Week. The 4,500-square meter space will feature offices, showrooms, restaurants, commercial activities and lofts. BasicNet Group is the parent company of the Kappa, K-Way, Sebago and Superga brands. K-Way accounts for 65 to 70 ...
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ArticleStuart Weitzman expects to outperform the market
Stuart Weitzman, the premium footwear brand of the U.S. fashion group Tapestry, expects to overperform the market in the coming years. It forecasts to increase revenues from $317.7 million in the full year ended on July 2 to $450 million in fiscal 2025, representing a compound average growth rate (CAGR) ...
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ArticleHow Italian manufacturers are crossing the Rubicon to preserve their industry
A group of Italian shoemakers and components manufacturers located in San Mauro Pascoli have decided to join forces and create a consortium called Rerum, which starts for Rete Rubicone Moda, to preserve the cluster’s supply chain. Rubicone, or Rubicon in English, is the name of a nearby river famously crossed ...
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News briefs
Spanish exports up 19.2% in first five months of 2022
In the first five months of 2022, Spanish exports rose by 19.2 percent year-over-year to €1,225.3 million. The data is also 3.3 percent above the first five months of 2019, before the outbreak of the Covid-19 pandemic, according to the Spanish footwear association Fice. Year-over-year, exports rose in all main ...
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News briefs
Volumental sales up 86%
Volumental, a Sweden-based global platform offering 3D foot scanners, announced that it has seen an 85 percent increase in revenue this year and that it scans half a million feet per month. With poor fit being the most common reason for shoe returns, stores that have implemented Volumental’s foot scanning ...
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News briefs
Saucony to boost its retail presence in Spain
Saucony, a brand of Wolverine Worldwide, is planning to open around 20 shop-in-shops at El Corte Inglés’ department stores across Spain between 2022 and 2023, Modaes has reported. Specifically, between ten and twelve units will open in the fourth quarter of 2022, devoted to its Originals product line. Six or ...
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ArticleThe Italian retailers Scarpe&Scarpe and Pittarosso are due to merge
The financial group Pillarstone has taken over Scarpe & Scarpe and is expected to create in the near future a large footwear retailing group in Italy by merging it with Pittarosso. Responsible & Sustainable Corporate Turnaround Fund (RSCT), a turnaround fund managed by Pillarstone Italy, obtained 70 percent of Scarpe ...
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ArticleAsos cuts FY guidance on weak August sales
Asos has cut its guidance for the full year ended on Aug. 31 as sales slowed down in August. However, it noted that sales, adjusted pre-tax profit and net debt are anticipated to be within the range of financial analysts’ expectations. According to a consensus compiled by the British fashion ...
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ArticleTod’s’ sales return to pre-Covid levels
With a 17 percent increase in first-half sales to €467.5 million, Tod’s is back to pre-pandemic levels and beat market expectations by nearly €4 million. At constant currency rates, the top line grew by 14.3 percent. The Italian fashion group grew by double-digit rates in all markets, except in ...
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ArticlePrimark’s earnings are being squeezed by inflation
In the 2022/2023 fiscal year, Primark’s operating margin will be squeezed by rising inflation which is pushing up its costs and eroding the disposable income of it clients, said Associated British Foods (ABF), the parent company of the clothing retailer. The profit warning was released with the group’s preliminary results ...
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