All Shoe Intelligence articles in Volume 24, Issue 23+24 – Page 3
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News briefs
Kamik hires a new COO
Kamik, a family-owned Canadian footwear and apparel manufacturer, has appointed Steeve Côté as chief operating officer. Côté will be in charge of Kamik’s global operations including supply chain management, manufacturing and logistics. Côté was most recently the vice president of operations at Joseph Ribkoff, a leading player in the Canadian ...
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News briefs
Genesco opens new headquarters
Genesco formally opened its new headquarters at 535 Marriott Drive in Nashville, Tennessee, on Nov. 3. The building spans 182,000 square feet spread over seven floors. It hosts services to support Genesco’s brands that include Journeys, Journeys Kidz, Johnston & Murphy, Levi’s footwear, Dockers footwear and Bass footwear. The U.S. ...
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News briefs
Xtep in partnership with Covestro to produce low-carbon running shoes
Xtep International Holdings established a strategic cooperation arrangement with Covestro, a German chemical group, and Silan Group, an integrated footwear platform, to produce low-carbon running shoes. The announcement of the partnership was made jointly with the presentation of Xtep’s low-carbon running shoes, 360-ECO, which uses biomass raw materials. Compared with ...
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News briefs
Leather industry signs an updated version of its sustainability manifesto
Concurrently with the United Nations Climate Change Conference (COP27), held in Egypt from Nov. 6 to 18, twenty-six bodies of the leather industry signed an updated version of a manifesto on sustainability, the so-called Leather Manifesto, that was published in October 2021. The signatories urged COP27 participants to encourage the ...
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ArticleEcco Leather in partnership with Ecovative
Ecco Leather, which is part of the Danish footwear group Ecco, has joined forces with Ecovative to develop new mycelium materials for the fashion industry and other sectors. In a joint statement, the parties claim it is the “first-of-its-kind partnership”, between a traditional leather tannery and a mycelium technology company. ...
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ArticleShoe Carnival gears up for Shoestation.com launch as Q3 sales dip 4%
Shoe Carnival revealed that it is in the final testing phase for an e-commerce site for the recently acquired Shoe Station banner, with a launch date expected in the coming weeks or early in the group’s 2023 fiscal year at the latest. “We’re making sure the supply chain is flawless ...
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News briefs
Indian footwear exports up by 37% in H1
From April to September 2022, which corresponds to the first half of India’s fiscal year, the local leather industry reported export revenues of more than $2.8 billion, up by 25 percent year-on-year. Footwear led the sector’s exports higher, rising by 37 percent to nearly $1.3 billion. Exports of finished leather ...
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ArticleFarfetch’s operating loss widens despite higher sales
Farfetch, the online platform for luxury goods, suffered a $218.5 million operating loss in the third quarter of 2022 versus a $105.7 million loss in the year-ago period. The attributable net loss was $274.2 million against a profit of $767.2 million. Revenues increased by 1.9 percent, or 14.1 percent at ...
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ArticleAlibaba’s operating income increases 68%
Alibaba experienced a 3 percent jump in revenues to 207.2 billion yuan renminbi (€28.1bn) in the second quarter ended Sept. 30 from RMB 200.7 billion a year earlier. The increase occurred despite the Covid-19 resurgence in China that depressed consumer demand, currency volatility, higher logistics costs and slowing cross-border commerce. ...
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ArticleEstée Lauder buys Tom Ford
Estée Lauder has signed an agreement to acquire Tom Ford in a deal with an enterprise value of $2.8 billion. The transaction will make the American cosmetics group the sole owner of the brand and all its intellectual property. The amount to be paid by Estée Lauder for the acquisition ...
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News briefs
Primark’s ‘click & collect’ trial crashes due to bigger-than-expected demand
Primark’s long-awaited online ordering trial has crashed after going live as it faced bigger than expected demand. Having resisted a move to internet shopping, the Irish fast fashion retailer decided to trial a “click & collect” service offering kids clothing, toys and nursery goods at 25 stores. However, shoppers are ...
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ArticleJoules goes into administration as rescue talks collapse
The British fashion retailer Joules is appointing administrators after talks on a financial rescue failed, putting 1,600 jobs and 132 stores at risk. The company held talks last week with investors to raise emergency funds but needed bridging finance to avoid defaulting on a £5 million (€5.7m) bank loan due ...
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News briefs
Ecco opens design studio in Shanghai
The newly opened Ecco Design Studio in Shanghai is said to be characterized by collaboration and creativity with bright, open and interconnected spaces and is Ecco’s second studio after opening a studio in Brooklyn, New York, in 2021. Both studios not only focus on shoe and bag design but also ...
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News briefs
Beaumanoir buys Sarenza
Beaumanoir, a French fashion group, has completed the acquisition of Sarenza, a French footwear and apparel online retailer, from Monoprix. Beaumanoir had entered exclusive talks to buy Sarenza in July. ”This new acquistion is particularly strategic for our development. It is the achievement of investments in digital started several years ...
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ArticleGeox maintains guidance despite expectations for weaker Q4
Geox said it was maintaining its guidance for 2022 after a solid third quarter and despite expectations for a weaker performance in the fourth quarter. Growth in its top line in the last three months of the year is seen limited by delays in deliveries and the loss of apparel ...
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ArticleStuart Weitzman’s sales are flat, operating result negative
Stuart Weitzman, the premium footwear brand of the U.S. fashion group Tapestry, posted sales of $65 million in the fiscal first quarter ended Oct. 1, unchanged year-on-yer at constant currency rates. “We delivered growth in North America, aided by strength in the wholesale channel, while pressure remained in the highly ...
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ArticleTod’s still has not decided on delisting move
Diego Della Valle, the chairman and CEO of Tod’s, still has not decided on his next move to delist the Italian luxury goods company after his first attempt to buy out minority shareholders failed. During a conference call with financial analysts, the company’s chief financial officer, Emilio Macellari, said that ...
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ArticleJimmy Choo’s sales slow down sharply in Q2
In the fiscal second quarter ended Oct. 1, Jimmy Choo posted revenues of $142 million, up by 3.6 percent year-over-year on a reported basis and by 15.3 percent at constant currency rates. In the first quarter of the fiscal year, sales had risen by a reported 21.1 percent and by ...
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News briefs
Spartoo drops its GMV growth guidance
Spartoo announced that its guidance regarding gross merchandise value (GMV) growth for 2022 and 2023 is now “obsolete.” The French online retailer had previously set a GMV growth target of more than 10 percent per year until 2024. The decision to drop the guidance ”follows the confirmation of a slowdown ...
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News briefs
China relaxes Covid restrictions
The Chinese government is relaxing some of its Covid-19 restrictions after the measures were rubber-stamped by the Politburo Standing Committee. Quarantine for inbound travelers is cut to eight days from 10, resulting in five days in state isolation centers and three days at home, according to the country’s National Health ...
