All Shoe Intelligence articles in Volume 24, Issue 21+22 – Page 3
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News briefs
Amazon faces class action for allegedly favoring some products
Amazon faces a class action in the U.K. for allegedly favouring some products on its platform. According to estimates, the lawsuit, if successful, could result in damages of £900 million (€1,034m) for the U.S. online retailer. The legal action, which is expected to be filed in the Competition Appeal Tribunal ...
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News briefs
French shoe sales up 3.5% in September
Sales of shoes in France rose by 3.5 percent month-over-month in September, overperforming the overall market, according to the latest survey on retail trade released by the Bank of France. In September, overall retail sales in France grew by 2.2 percent compared with August on a seasonal and working day ...
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News briefsHermès 9-month sales up by 30.0%
In the first nine months of the year, Hermès’ sales stood at €8,611 million, up by 30.0 percent on reported basis and 24.0 percent at comparable exchange rates. Sales for the sole leather goods and saddlery business were up by a reported 19.1 percent and by 12.5 percent at ...
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ArticleAsos to write off stock as new CEO launches reorganization
Asos is writing off up to £130 million (€150m) of stock and starting a price slashing program to reduce inventory as it embarks on a reorganization of the business under the leadership of its new chief executive, José Antonio Ramos Calamonte. The company had built up inventory to cope with ...
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News briefsMicam returns to a four-day format in February
The next edition of Micam, the footwear trade fair held at the Fieramilano Rho exhibition center at the outskirts of Milan, will run for four days from Feb. 19 to 22. The show will be open from 9.30 am to 6.30 pm on the first three days and from 9.30 ...
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ArticleData fails to show significant reshoring is underway
Despite all the talk of moving footwear production out of Asia and bringing it closer to consumption markets, the so-called reshoring, there is no indication of such a trend in the data currently available, according to Joana Vaz Teixeira, editor of World Footwear, a media initiative of the Portuguese footwear ...
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ArticleAsos in talks to change its debt covenants
Asos is in the final stages of talks with lenders on changing the terms of a £350 million (€406.2m) borrowing facility amid concerns over its cash flow after a credit insurance firm cut cover for suppliers by more than half. The British online fashion retailer said the move will give ...
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News briefs
U.K. drops VAT-free shopping scheme
The British Finance Minister, Jeremy Hunt, announced that the government no longer plans to introduce a scheme eliminating value-added tax (VAT) for overseas tourists. Hunt was appointed Finance Minister, or Chancellor of the Exchequer, on Oct. 14, replacing Kwasi Kwarteng. Kwarteng had to step down after only 38 days in ...
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News briefs
Blibli’s parent aims to raise €540m in IPO
Global Digital Niaga, the parent company of the Indonesian e-commerce company Blibli, aims to raise as much as 8.17 trillion rupiahs (€540m) in its initial public offering next month, according to the company’s prospectus. The company plans to sell up to 17.77 billion shares, or 15 percent of its total ...
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News briefs
Piquadro sales up by 25% in H1
In the first half ended Sept. 30, the Italian leather goods firm Piquadro posted sales of €80.2 million, up by 25 percent from a year earlier. Sales rose by 23.4 percent to €37.2 million in Italy and were up by 30.9 percent to €40.9 million in the rest of Europe. ...
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News briefs
JD Sports tightens its grip on Deporvillage
JD Sports Fashion announced that Iberian Sports Retail Group (ISRG) has acquired an additional 18 percent holding in the issued shares of Deporvillage from co-founders Xavier Pladellorens and Àngel Corcuera for a cash consideration of €19.8 million. Following the transaction, ISRG will hold a 98-percent stake in Deporvillage, while Pladellorens ...
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News briefs
Ugg launches classic boot made with regeneratively sourced materials
The Californian lifestyle brand Ugg, which is a division of Deckers Brands, has launched a new Classic Mini Regenerate. The boot, available for adults and children, is made with materials from Atkins Ranch, a ranch cared for with regenerative traditions to help restore soil, encourage wildlife diversity, capture carbon in ...
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News briefs
King Steel, BASF, Otrajet join forces to produce recyclable products
King Steel Machinery, a Taiwanese engineering group producing shoemaking machinery, the German chemical company BASF and the elastomer manufacturer Otrajet have signed a joint development agreement to develop energy-saving processes that allow for manufacturing of 100-percent recyclable products, according to a joint statement. ”Combining expertise in plastic injection machine design, ...
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ArticleBrazilian exports already exceed the whole of 2021
In the first nine months of 2022, Brazilian footwear exports totaled 107.9 million pairs, up by 25 percent year-on-year. In value, exports generated $990.35 million, up by 60 percent and more than the $900 million achieved for the whole of 2021, according to data released by the Brazilian footwear association, ...
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ArticleHow Dirty Harry helped a Spanish shoemaker conquer the world from his garage
Like Steve Jobs, Basilio García Pérez-Aradros started his business in a garage. For seven years, every day from early in the morning until late at night, he worked on his dream that started in the late sixties: that of producing quality shoes with traditional craftsmanship to sell them all over ...
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News briefs
Manolo Blahnik revenues up 65% in 2021
Manolo Blahnik posted revenues of €69.9 million in 2021, up by 65 percent year-over-year thanks to a triple-digit growth rate in digital sales. On a comparable basis, the top line rose by 47 percent. Ebitda improved to €8.8 million from €0.5 million. The company returned to a profit, with pretax ...
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News briefs
Rocky Brands has a CCO
U.S. footwear company Rocky Brands announced that its chief financial officer, Tom Robertson, has been promoted to the newly created position of chief operating officer, responsible for overseeing business operations. Robertson joined Rocky Brands in 2016 as a senior financial analyst and was named CFO six months later. The search ...
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News briefs
Two Italian makers of footwear machinery join forces
Atom MB and Cerim, two producers of footwear machinery based in Vigevano, about 20 kilometers southwest of Milan, have agreed to join forces. The companies have created Avantium, a 50-50 joint venture that will group the activities of Cerim and of Atom MB’s unit MB. The MB business stems from ...
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News briefs
Nice Footwear sets up a joint venture with Avirex
Nice Footwear is creating a joint venture with Avirex, a brand known for its leather jackets and chinos pants. Nice Footwear, which specializes in the production of sneakers, has held over the past years the license to produce footwear under the Avirex brand. Under the agreement, Nice Footwear will create ...
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News briefs
Asics releases trainer with the world’s smallest carbon footprint
With the launch of its Gel-Lyte III CM 1.95 trainer, Asics has unveiled a sneaker with the world’s lowest carbon footprint. As the name suggests, the shoe emits 1.95kg CO2e across its lifecycle. This is significantly less than the lowest CO2e sneakers currently available on the market, based on available ...
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