All Shoe Intelligence articles in Volume 24, Issue 7+8 – Page 3
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News briefs
Steptronic goes into administration
Jimmy Saunders and Michael Lennon of the restructuring advisory practice Kroll were appointed joint administrators of Steptronic Footwear on March 9. Being placed in administration is a British form of bankruptcy proceedings. Steptronic is based in Rushden, Northamptonshire, and has over 3,000 high street and online outlets as customers. The ...
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News briefs
FLO extends partnership with Nine West
The Turkish shoe company FLO has extended its partnership in shoes, bags and accesories with the women’s brand Nine West, which is owned by the U.S. company Authentic Brands Group. FLO first entered a licensing partnership with Nine West in 2019 that covered production and retailing rights for the brand ...
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News briefs
Serafini exits creditor protection program
The Italian shoemaker Serafini has exited a debt restructuring program, known as “concordato preventivo di continuità”, helped by a significant growth in e-commerce. “At the end of 2021 we exited the debt restructuring program,” explained Fabrizio Serafini, head of the company and fourth generation of the family who established the ...
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News briefs
Assocalzaturifici's general manager to leave on April 5
Tommaso Cancellara, the general manager of the Italian footwear association Assocalzaturifici, will be leaving on April 5 to join Italian Exhibition Group (IEG) and manage their wholly-owned North American unit, IEG USA. Cancellara also oversaw Assocalzaturifici’s Milan-based trade show Micam. Assocalzaturifici still has to announce Cancellara’s replacement. IEG noted that ...
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News briefs
Micam and sister fairs attract 29,468 visitors
Micam and the three shows held along side the Milan-based footwear trade fair attracted 29,468 visitors. At the Fieramilano Rho exhibition center at the outskirts of Milan, Micam was held jointly with Mipel, a fair for leather goods and accessories, TheOneMilano, which focuses on women’s clothes, and Homi Fashion&Jewels ...
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News briefs
Stella will produce more in Indonesia
While starting up its new shoe manufacturing facility in Solo, Indonesia, Stella International is already planning to add a second factory to make 15 million pairs a year in the country, following a $120 million investment from its largest client, which represented 34 percent of its revenues last year. With ...
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ArticleC-Suite interview: Fly Flot sees 2022 sales rising to €28m
When the founders of Fly Flot established the company in 1985, they had a clear idea that their focus would be on foreign markets. That’s why Luigi Migliorati along with his five brothers and two non-family-members, decided to give the new company an international sounding name. Today, despite the impact ...
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ArticleCaleres delivers strong results
Caleres’ operating income was $43.8 million in the fourth quarter ended Jan. 29 against a loss of $55.4 million a year earlier. Net income came in at $33.9 million against a loss of $77.1 million. Total period revenues increased by 19.0 percent to $679.3 million from $571.0 million as gross ...
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ArticleShoe Carnival plans expansion after strongest results in 43 years
Shoe Carnival’s operating income soared by 164 percent to $27.9 million in the fourth quarter ended on Jan. 29 from $10.6 million a year earlier. Net income was $20.6 million against $7.4 million. Revenues jumped by 23 percent to $313.4 million from $253.9 million as the U.S. retail chain closed ...
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ArticleYue Yuen turns around despite a volatile operating environment
The annual net income of the world’s largest maker of athletic, casual and outdoor footwear hit $115.1 million in 2021 against a loss of $90.8 million in the prior year. Yue Yuen (YY) made an operating profit (Ebit) of $175.4 million for the year against an operating loss of $51.4 ...
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ArticlePrada full-year profits above pre-pandemic levels
Prada posted a net profit of €294 million in 2021, up from a €54 million loss last year and above a €256 million profit in 2019, before the outbreak of the Covid-19 pandemic. The bottom line also largely exceeded the consensus of analysts’ forecasts set at €253 million. Full-year revenues ...
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ArticleInditex’s sales return above pre-pandemic levels
Inditex, the Spanish group that owns the brands Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho and Uterqüe, posted a 35.8 percent year-on-year increase in revenues to €27.72 billion in the full year ended January 31. In local currencies, the top line was 3 percent higher than in 2019, before the ...
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News briefs
Schuh Mücke appoints a new managing director
Schuh Mücke, the German shoe and sporting goods retail chain within the ANWR Group, has undergone a management change. The retail expert Thomas Klein was appointed as the new managing director after Inge Schardt left the ANWR subsidiary due to differing views on the strategic direction of the company. ...
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News briefs
Ferragamo hires a new creative director
Salvatore Ferragamo has appointed Maximilian Davis, 25, as its creative director, effective March 16. Born in Manchester, he graduated from the London College of Fashion and founded his eponymous brand in 2020. Davis takes over from Paul Andrew who held the job from 2019 to March 2021. Andrew last worked ...
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ArticleC-Suite interview: Covid-19 has masked the surge of regional integration in Asia-Pacific
In an exclusive interview with Shoe Intelligence, William Wong, the founder and head of the Hong Kong-based footwear company Goddess International, and the representative of the Confederation of International Footwear Association (CIFA), sheds light on the impact of regional integration in Asia-Pacific, the growing role of the region in design ...
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ArticleLi Ning excluded from Norway’s sovereign fund
The Chinese sportswear company Li Ning has been excluded from Norway’s sovereign fund, Norwegian Government Pension Fund Global, because of possible links to alleged human rights abuses in the Chinese province of Xinjiang, said the Norwegian central bank, Norges Bank, which manages the fund. The fund’s Council on Ethics recommended ...
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News briefs
Hermes to open two new leather goods workshops in France
The French luxury goods group Hermès plans the construction of two additional leather goods workshops over the next three to four years in France, resulting in the hiring of 500 craftsmen. The new workshops will become the 23rd and 24th production sites of Hermès’ leather goods & saddlery division, all ...
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News briefs
EU to guarantee convertibility of Ukrainian currency
European Union authorities are studying the possibility of guaranteeing the convertibility of Ukraine’s currency, the hryvnia, into the currencies of EU member states, according to the French Economy Minister Bruno Le Maire. France currently holds the rotating presidency of the EU. Le Maire noted that many Ukrainians fleeing the Russian ...
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News briefs
EU bans exports of luxury goods to Russia
The European Union has toughened trade sanctions against Russia with the adoption of a fourth package of measures, which includes an export ban on luxury goods “to directly hit Russian elites”. The EU is sanctioning the country for ”its brutal aggression against Ukraine and its people.” The sanctions ”will further ...
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ArticleClarks hires the head of Champion as its new CEO
Clarks announced that Jonathan Ram will be its new CEO in April, taking the place of Victor Herrero. Ram will be leaving the U.S. clothing group HanesBrands, where he is president of global activewear, on March 31 to join the British shoemaker. Ram already spent more than four years in ...
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