All Shoe Intelligence articles in Volume 25, Issue 11+12 – Page 2
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ArticleThe Russian fashion market is in turmoil, but local brands benefit
In 2022, the overall Russian fashion industry experienced a 12 to 15 percent drop in domestic sales volume, but local brands nevertheless experienced a surge in turnover ranging between 10 and 25 percent, Anna Lebsak-Kleymans, CEO of the Russian think tank Fashion Consulting Group, told the Russian edition of Forbes. ...
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Article
Hoka sales seen rising 20% in FY24, continuing to underpin Deckers growth
Deckers Brands expects Hoka will continue to lead sales growth in the current financial year, forecasting the brand will see a 20 percent increase in its top line after a 58.5 percent jump in the financial year that ended March 31. The majority of Hoka’s growth is expected to come ...
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ArticlePermira buys a majority stake in Gruppo Florence
London-based private equity Permira has agreed to acquire a majority stake in Gruppo Florence from its shareholders. The deal is expected to close in the fourth quarter of 2023. No financial terms were disclosed, but Reuters cited a source close to the matter saying that the deal values Gruppo Florence ...
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ArticleHooijer Group launches advertising campaign for Heydude brand
The Dutch distribution and wholesale company Hooijer Footwear Group has launched a wide-ranging advertising campaign to promote the American shoe brand Heydude, which it distributes in the Benelux, Germany and Austria. The campaign – which will span across television and print – will focus on the brand itself, not ...
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News briefs
Clarks appoints Martine Rose as guest creative director
Clarks has appointed Martine Rose as its first-ever guest creative director. She has designed three pairs of shoes for the British brand that will be available from March 2024. Rose, 42, is a British-Jamaican menswear designer and founder of the Martine Rose label. In 2018, she released a collaboration with ...
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ArticleGenesco slashes its FY earnings guidance on “dramatic” change in consumer sentiment
Genesco will seek more “newness” across its brands and products and accelerate store closures as it reported a loss in the first quarter ending April 29 and slashed its earnings guidance for the full year. The Nashville, Tennessee, based specialty footwear retailer cited a “dramatic change in consumer sentiment” as ...
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News briefs
Arezzo opens its first Simples store
Reserva, a clothing brand of the Arezzo & Co group, opened the first store of its basic clothing range Simples at Barra Shopping – a mall in Rio de Janeiro. The opening comes eight months after Simples’ launch. The brokerage XP Investimentos noted that Simples has increased its product range ...
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ArticleAsos raises £80m by issuing shares
Asos raised about £80 million (€92.1m) of gross process by selling newly issued ordinary shares, but there is concern that the British online fashion retailer will need further cash to finance its restructuring. The shares were sold at 418.1 pence (€4.81) each. The proceeds will support the company’s Driving Change ...
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News briefs
Autry’s FY sales up by 200%
The sneaker brand Autry increased its 2022 sales by 200 percent to €90 million from €30 million in 2021, as Ebitda grew to €27 million from €9 million. Autry was founded in 1982 in Dallas, Texas, by Jim Autry, but it largely went into hibernation for decades following Autry’s death. ...
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News briefs
Clergerie’s future owner to be chosen on June 14
A Paris-based commercial court is scheduled to decide on June 14 who will take over Maison Clergerie. The French maker of luxury footwear was placed into receivership on March 29 after failing to reach an arrangement between shareholders and creditors. The company, which is based in Romans-sur-Isère in the Drôme ...
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News briefs
Golden Goose's Q1 sales up by 20%
Golden Goose’s first-quarter revenues totalled €133.3 million, up by 20 percent year-on-year and by 66 percent compared with 2021. The Italian sneaker brand said that growth was driven by ongoing investments and the expansion of its retail network. Direct-to-consumer sales totalled 67 percent of the brand’s sales. Sales were up ...
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News briefs
Timberland has a new sales structure for northern Europe
Under the leadership of Alwin van Dijk as sales director, Germany, Austria, Switzerland, Scandinavia and Benelux now form the new sales region Central/North at Timberland. This step creates new synergies and competencies within the team to meet the changing market conditions and further push the qualitative growth in the region ...
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News briefs
Laced raises $12m in funding round
The U.K.-based sneaker resale platform Laced has secured $12 million in Series A funding and unveiled its new visual identity. The e-commerce site features the latest collections from several well-known brands, including Nike, Jordan, Adidas and New Balance. Founded in London in 2018, Laced facilitates the sale of sneakers between ...
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News briefs
FitFlop signs on new distributors for its international expansion
Shortly after receiving a new $30 million, five-year revolving credit facility from the independent lender Aurelius Finance Company to support its long-term growth ambitions, London-based footwear company FitFlop announced that it has secured several new global distribution partners to support its expand internationally. Albion 1897 will distribute the brand in ...
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ArticleShoe Carnival trims its FY guidance as first-quarter sales fall
Shoe Carnival trimmed its full-year guidance as its first-quarter results came in below its expectations due to pressure on the purchasing power of its clients as a result of higher inflation and a reduction in federal tax refunds, as well as poor weather conditions. In the first quarter ended April ...
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News briefs
Germany entered into recession in Q1
In the first quarter of 2023, German gross domestic product fell by 0.3 percent on the previous quarter on a price, seasonally and calendar adjusted basis according to the statistics office Destatis. The reading is 0.3 percentage points lower than in the preliminary estimate released on April 28. “After GDP ...
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ArticleVF Corp. has a “realistic” turnaround strategy in place
VF Corp., which has begun a rigorous six- to 12-month process to find a new CEO, says it has a plan in place that will improve its sales and profitability fortunes over the next 12 months. It centers on continued growth for its The North Face (TNF), EMEA, and direct-to-consumer ...
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ArticleOne of Alpargatas’ main shareholders wants to increase its stake
The investment firm MS Alpa Participações wants to buy 32 million preferred shares in Alpargatas, the Brazilian footwear company known for the Havaianas brand, at 10.50 Brazilian reais (€1.97) each through a public tender. Alpargatas was informed of the offer on May 19 after the close of the Brazilian ...
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News briefs
Wolverine looking for new Saucony brand president
Anne Cavassa, who joined Saucony as the brand’s first woman president in May 2018 after more than 20 years working for the likes of Brooks Running, Timberland, Nike, and Reebok, recently left Wolverine Worldwide. Senior company executives disclosed her departure during the conference call on first-quarter earnings. In the quarter, ...
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News briefs
The number of stores declined in the Netherlands during 2022
On Jan. 1, 2023, there were 82,100 physical stores in the Netherlands, according to the Dutch Retail Association of Sporting Goods Suppliers (FGHS). That’s 1,600 fewer stores than a year earlier. This is the steepest decline since the outbreak of the Covid 19 pandemic, according to preliminary figures from the ...
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