All Shoe Intelligence articles in Volume 25, Issue 13+14 – Page 3
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News briefs
KKR to purchase €40bn of buy now, pay later European loans from PayPal
Private credit funds and accounts managed by the American investment firm KKR will purchase up to €40 billion of buy now, pay later (BNPL) loan receivables originated by PayPal in France, Germany, Italy, Spain and the U.K.. KKR will acquire substantially all the European BNPL loan portfolio held on PayPal’s ...
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ArticleVF names a new CEO
VF Corporation, the U.S. owner of leading brands such as Vans, Timberland and The North Face, said that its board has appointed Bracken Darrell as president and chief executive officer, effective July 17. Darrell joins VF from Logitech International, a Swiss computer peripherals and software maker, where he has served ...
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News briefs
Hoka launches a global campaign
Hoka, a division of Deckers Brands, has launched Murmuration, a global brand campaign spanning owned media, out-of-home, CTV, digital and paid social, running on Meta, Snapchat and TikTok. The campaign builds on the brand’s Fly Human Fly creative platform launched last year and is the brand’s most extensive global integrated ...
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ArticleAlibaba’s chairman and CEO resigns to focus on Alibaba Cloud
Daniel Zhang has unexpectedly resigned as chairman and CEO of Alibaba Group. He has served as CEO for the past eight years and as chairman for the past four years. The successors for the two vacant positions have already been determined: Joseph C. Tsai, currently executive vice chairman, will succeed ...
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News briefs
Kurt Geiger obtains new funding for international expansion
Kurt Geiger has secured a new financial facility to refinance its debt and accelerate its international expansion. The package was provided by Wells Fargo Capital Finance UK and Blazehill Capital. Media reports indicate that the deal could be worth about £150 million (€170m). “The combined facilities will provide significant flexibility ...
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News briefs
Next increases full-year guidance after strong start to Q2
Next increased its full-year guidance after a strong start to its fiscal second quarter thanks to warmer weather and higher household incomes in the wake of annual salary increases. In the first seven weeks of the second quarter, full price sales were up by 9.3 percent year-over-year. Over the ...
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News briefs
Vibram and NNormal launch “Repairability Program”
Vibram and NNormal are launching a new partnership in the form of a joint repairability program. NNormal shoes will now be able to be repaired by Vibram cobblers around the world. Vibram has had a long-standing repair program, which it recently promoted via its “repair if you care” campaign. The ...
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News briefs
SAS renews its sneaker contract with U.S. military
San Antonio Shoemakers (SAS) has been awarded a three-year renewal contract with the Defense Logistics Agency (DLA) to produce specialized footwear for the basic training of U.S. military. The contract has a maximum value of $90,590,940. Under this contract, SAS will provide the U.S. Army, Navy, Air Force, Marine Corps ...
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News briefs
Metro Brands opens a store in Connaught Place, New Delhi
The Indian footwear retailer, Metro Brands, opened its 756th store in Connaught Place – one of the main financial, commercial and business centers in New Delhi. The 2,200 square-feet store will hold a wide range of footwear and accessories of the house brands Metro Shoes and DaVinchi as well ...
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News briefs
Bottega Veneta opens a footwear factory
Bottega Veneta, the Italian luxury goods brand owned by the French conglomerate Kering, has launched a 5,450 square-meter facility specialized in the design, development and manufacturing of footwear. The site is located in the Italian town of Vigonza in the footwear cluster of Riviera del Brenta, in the Veneto region. ...
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News briefs
Careismatic Brands buys Bala Footwear
Careismatic Brands, a U.S. supplier of medical apparel, said that it has acquired Bala Footwear, a producer of footwear for nurses. No financial details were released. Bala Footwear was founded in 2020 in Portland, Oregon, by former Nike executives Brian Lockard and John Eberle, and former Under Armor executive Caprice ...
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News briefs
Fallen Footwear sues LIV for alleged trademark infringement
Fallen Footwear, a U.S. skateboarding shoe brand, filed a trademark infringement lawsuit against LIV Golf Inc. and Hy flyers GC, collectively referred to as LIV. The lawsuit alleges that LIV’s use of a mark that is nearly identical to Fallen’s registered trademark “Insignia” logo in connection with their apparel ...
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News briefs
Mansèll’s FY sales rise 16.2%
Mansèll, the Italian brand specialized in leather shoes and accessories, expects to open its first monobrand early 2024 in Via della Spiga, in the heart of Milan’s fashion district. Eurasia, the company that owns the brand, also announced that 2022 sales rose by 16.2 percent to €16.5 million, with wholesale ...
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ArticleWhite Mountain expands into footwear for girls
The U.S. footwear brand White Mountain is expanding into footwear for girls. The brand noted that following its acquisition by American Exchange Group in January 2023, it “has quickly ventured into several exciting and diverse product categories, marking a significant departure from their exclusive focus on women’s footwear for the ...
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News briefs
Munich’s 2022 sales reach €74.3m
Munich, the Spanish brand of sneakers, increased 2022 sales by 40 percent to €74.3 million. The brand has 29 monobrand stores in Spain and plans to open two more in the coming weeks. It is also building up its collection of fashion footwear, whose sales rose by 35 percent in ...
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ArticleApparel Group to open more than 20 Clarks stores in Saudi Arabia in 5 yrs
Apparel Group, a global fashion and lifestyle conglomerate based in Dubai, has entered a strategic partnership with Clarks. The alliance aims to expand the retail footprint of the British footwear brand across Saudi Arabia, with plans to open more than 20 stores over the next five years. “The expansion plan ...
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ArticleIndia to introduce new quality standards for footwear from July 1
The Indian government has decided to go ahead with plans to introduce from July 1 new mandatory quality standards for footwear. However, companies with annual revenues of less than 500 million rupee will only have to adapt from Jan. 1, 2024, while shoemakers with annual sales of less than INR ...
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ArticleRockport files for bankruptcy again
Forty years after introducing DresSports, considered the first classic dress shoe with a rubber sole, The Rockport Company filed for Chapter 11 bankruptcy protection on June 15 for the second time in five years. The petition lists some $99.71 million in funded debt obligations and more than $63.1 million ...
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ArticleAsos returns to profitability and Frasers Group lifts its stake
Asos, the struggling British online fashion retailer, returned to profitability in the third quarter and said its turnaround strategy was starting to bear fruit, prompting Frasers Group to lift its stake in the company to 10.6 percent. Adjusted Ebit rose more than £20 million (€23.3m) in the three months to ...
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News briefsAldo in partnership with Brooks Brothers
Authentic Brands Group (ABG) and the Aldo Group entered into a partnership to launch an expanded assortment of men’s footwear and small leather goods for Brooks Brothers, which is part of ABG’s portfolio. Brooks Brothers’ new men’s collections will launch in stores in February 2024 and will be distributed ...
