All Shoe Intelligence articles in Volume 24, Issue 23+24
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PDF NewsletterShoe Intelligence Executive Edition: Vol. 24 - 23+24
Expo Riva Schuh aims to reach industry-wide principles on traceability | Geox maintains guidance despite expectations for weaker Q4 | Florence buys a third footwear manufacturer | Tod’s still has not decided on delisting move | Europe drives Ferragamo’s sales higher | Jimmy Choo’s sales slow down sharply in Q2 | Clarks focuses on China and U.K. after returning to a profit | Dr. Martens warns on profits as DTC sales soften | Coats’ apparel and footwear business slows down | CCC targets cost savings, cuts revenue forecast in a difficult market | Ecco Leather in partnership with Ecovative | Caleres maintains sales outlook as Brand Portfolio outperforms | Genesco cuts earnings guidance after ‘sluggish’ start to November sales | Shoe Carnival gears up for Shoestation.com launch as Q3 sales dip 4% | Stuart Weitzman’s sales are flat, operating result negative | Steve Madden cuts full-year guidance on order intake | Rocky Brands lowers FY revenue outlook | Weyco expects sales dip after record Q3 | Grendene takes over the management of its Melissa Club franchise | Yue Yuen cautious about months ahead despite strong Q3 | Emerging designer: Scylia Chevaux’s debut collection appeals to Japanese department stores
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News briefs
Alibaba launches new marketplace in Spain
Chinese e-commerce giant Alibaba launched a new marketplace called Miravia in Spain on Dec. 1. It connects brands and content creators with consumers. The platform offers fashion, beauty, food and lifestyle products. Earlier this year, Alibaba expanded its existing online marketplace Lazada to Europe, now Miravia was launched in addition. ...
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Article
VF's CEO steps down
VF Corp. announced that Benno Dorer, lead independent director of the VF board of directors, has been appointed interim president and chief executive officer, effective immediately. Richard Carucci, who has served on the board since 2009, will serve as interim chairman of the board. Dorer’s appointment follows Steve Rendle’s decision ...
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ArticleGenesco cuts earnings guidance after ‘sluggish’ start to November sales
Genesco cut its guidance for earnings and tightened expectations for revenues in the full year ending in February 2023, as it took a more conservative approach after beginning the fourth quarter in November with a “sluggish” sales performance and stepping up promotional activity to attract bargain-conscious consumers. Genesco now forecasts ...
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News briefs
U.K. faces a year-long recession
The U.K.’s gross domestic product is likely to contract by 0.4 percent in 2023. The country is estimated to have entered into an economic recession in the third quarter of 2022 that will last until the end of next year, according to the Confederation of British Industry (CBI). The CBI ...
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News briefs
Boohoo enters the Indian market with Myntra
Boohoo is entering the Indian market through a partnership with the e-commerce platform Myntra. The British fast fashion group is launching the brands Boohoo, Dorothy Perkins and Nasty Gal on the Indian platform. The three brands will offer over 1,500 styles cross categories such as dresses, tops, bottoms and footwear. ...
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News briefs
Micam holds a road show in December
Micam, the footwear trade fair held at the Fieramilano Rho exhibition center at the outskirts of Milan, is holding a road show to promote the next edition of the event scheduled from Feb. 19 to 22. On Dec. 1, the first of three teaser events scheduled in December was held ...
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News briefs
Intershoes Portugal attracts over 195 exhibitors
The first edition of Intershoes Portugal, scheduled from March 14 to 16 at Exponor, Porto’s exhibition center, has attracted more than 195 exhibitors from over 20 countries, according to the organizers, B Group US. The event will bring together professionals from the footwear industry along with providers of leather, leather ...
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News briefs
Newly launched SneakerCycle has over 33,000 pairs in stock
The recently launched U.S. resale platform SneakerCycle has more than 33,000 pairs in inventory. The average selling price of its shoes is $45. The business was created by Steven Salstein and Eric Mesa and has a 40,000 square foot warehouse in Miami. The two partners previously created GotSneakers which collects ...
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ArticleExpo Riva Schuh aims to reach industry-wide principles on traceability
Expo Riva Schuh & Gardabags aims to foster a dialogue on product and supply chain traceability in the footwear and leather goods industries in order to define principles that will lead to sustainable manufacturing. ”Only by creating common ground for a traceability system shared by the entire footwear and leather ...
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ArticleNevada attracts footwear distribution centers
Over the past year, several distribution center projects have been announced in Nevada by companies working in the footwear industry, according to Footwear Distributors and Retailers of America (FDRA). The announcements include a 730,000 square foot site by Crocs, a 450,000 square foot facility by Footlocker, a 788,000 square foot ...
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News briefs
Primark unveils €100m Spanish investment plan
Primark plans to invest €100 million in opening new stores and refurbish existing ones in Spain. The Irish clothes retailer, owned by Associated British Foods, will open eight new stores throughout the country, including the island of Lanzarote and the enclave of Melilla, Primark said in a statement. As part ...
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News briefs
Next buys fashion retailer Joules, saving 1,450 jobs
The British apparel and footwear chain Joules has been bought out of administration by its founder Tom Joule and Next in a deal that will save 1,450 jobs. Next will buy around 100 Joules shops for £34 million (€39.5m) and take a 74 percent stake in the company after a ...
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News briefs
Directa Plus sees FY sales at least €10m
Directa Plus, an Italian producer and supplier of graphene nanoplatelets based products for use in consumer and industrial markets, expects to finish 2022 with sales of at least €10 million, up by 16 percent from the €8.6 million booked in 2021. The company said that it will enter 2023 with ...
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ArticleDesigner Brands focuses on own brands, clearance
Designer Brands, which has dialed back its full-year earnings per share guidance, is eyeing its own footwear brands and clearance business as key growth vehicles going forward. The parent of the DSW Warehouse banner told financial analysts that shoe consumers today have become more focused on value and that it ...
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News briefs
Nike stores re-open in Russia under a new banner
The first Nike store was re-opened in Russia under the banner Nike Sport Point in the Outlet Village shopping center in Moscow. On June 23, Nike announced its decision to pull out from Russia in the wake of the country’s invasion of Ukraine. Following the move, the Cheryomushkinsky Court of ...
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ArticleOR Group nears bankruptcy
The Russian banks Sberbank and VTB Bank have joined bankruptcy proceedings against OR Group, the Russian arbitration courts database showed. Alongside Promsvyazbank, Sberbank and VTB Bank are the largest creditors of OR Group, formerly known as Obuv Rossii, which has been experiencing financial difficulties since the beginning of 2022. On ...
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News briefs
Asos’ interim CFO steps down
Asos’ interim chief financial officer, Katy Mecklenburgh, will be leaving to take up a new role as CFO at Softcat, a provider of IT infrastructure. Mecklenburgh will continue in her current role at the British online retailer for the next six months, in line with her notice period, as Asos ...
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News briefs
Prada hires Andrea Guerra as CEO
Prada has decided to hire Andrea Guerra as its CEO, effective from mid-January, according to the Italian media. The decision was made by Patrizio Bertelli, the 76-year old CEO of the Italian fashion house, his wife, the designer Miuccia Prada, 73, and their 34-year old son Lorenzo. Guerra, ...
