All Shoe Intelligence articles in Volume 25, Issue 15+16 – Page 3
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News briefs
Marco Bizzarri quits Gucci
Marco Bizzarri, the president and CEO of Gucci since 2015, will leave the company effective Sept. 23. Bizzarri ”has masterminded the execution of Gucci’s outstanding growth strategy since 2015,” said the French luxury goods company Kering, the owner of Gucci. The manager has been a member of Kering’s executive committee ...
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News briefs
Loewe was the hottest brand in Q2
Loewe was the hottest brand in the world in the second quarter of 2023, according to the The Lyst Index. “One of the oldest luxury houses, under creative director Jonathan Anderson the Spanish brand has undergone a renaissance, climbing 13 places over the last 12 months to take the number ...
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ArticleHotter Shoes rescued by WoolOvers in £6.7m sale
Hotter Shoes has been rescued from collapse by the natural knitwear brand WoolOvers, in a pre-pack administration deal worth £6.7million (€7.7m). WoolOvers had approached Unbound Group, the parent company of the British footwear retailer, in March with an initial bid valuing the group £6.8 million but the proposal was rejected ...
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News briefs
Journeys sets up a second-hand resale program
Journeys, the retail chain owned by Genesco, announced the launch of Journeys Second-Hand, a resale program for apparel powered by thredUP’s Resale-as-a-Service (Raas) technology. Journeys Second-Hand allows customers to shop second-hand apparel directly from the brand’s website and resell ”gently-worn” items for Journeys shopping credit. Journeys claims that it is ...
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News briefs
Zegna names Lello Gavazza to head Tom Ford Fashion
Ermenegildo Zegna has appointed Lello Gavazza to the new position of chief executive officer of the Italian fashion house’s Tom Ford Fashion label. Gavazza will take on the position on Sept. 18. He has over 20 years of experience in the global luxury sector. He joins Zegna from French luxury ...
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News briefs
Extreme heat to hit productivity of European companies
Extreme heat is likely to cause a nearly 60 percent loss in productivity for companies located in Europe by 2030, according to estimates released by Morningstar Sustainalytics. The expected decline in productivity would stem from mechanical systems breaking down under heat stress, cooling systems failing and unsafe working conditions, according ...
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News briefs
Ponto names a new brand president
Ponto, a footwear brand based in Encinitas, California, has appointed Barry McGeough as brand president. ”McGeough’s appointment marks a significant milestone in Ponto’s journey towards growth and sustainability,” the company said in a statement. He previously held leadership roles at VF, PVH, Google and Wolverine World Wide. Most recently, McGeough ...
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ArticleStella Q2 sales momentum improves in Q2
Stella International, the Hong-Kong based footwear manufacturer and retailer, said that in the second quarter of 2023 it posted a 3.1 percent decline in manufacturing revenues to $419.5 million from $432.8 million as footwear shipments dropped by 6.7 percent to 14.0 million pairs from 15.0 million a year earlier. The ...
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ArticleUnbound appoints administators to sell Beaconsfield Footwear
Unbound Group, the owner of British footwear retailer Hotter Shoes, said that it has decided to appoint administrators for its main operating subsidiary, Beaconsfield Footwear Limited, after having failed to find a buyer for the business or to raise fresh cash to restructure it. The appointment of the administrators is ...
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News briefs
An online course on AI for footwear
Footwearology, the self-described “only academy for footwear professionals” with operations in Barcelona, has introduced a course called “AI for Footwear.” Taught by Nicoline van Enter, one of the founders of Footwearology and Footwearology Lab, the course is designed for managers seeking an understanding of AI as well as for designers ...
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ArticleU.S. footwear imports to plunge in 2023 due to bloated inventories
U.S. footwear imports are likely to plummet to below 2.0 billion pairs this year after a nearly 30 percent growth in 2022 to nearly 2.75 billion pairs, according to data from the U.S. International Trade Commission and a forecast from the The Footwear Distributors & Retailers of America (FDRA). Correspondingly, ...
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ArticleFootway launches a capital hike as its liquidity is under pressure
Footway announced a SEK100 million (€8.7m) capital increase and a reduction of its inventory as its liquidity “is under pressure” due to tighter credit terms from suppliers in an ”already weak market.” On July 14, Swedish e-commerce company had a market capitalization of SEK 825 million (€72m). During the first ...
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News briefs
Gerry Weber to close most of its stores in broad reorganization
The troubled German fashion group Gerry Weber plans a sweeping round of store closures in the coming months as it switches its focus back to wholesale retail. The company will shut down 122 of its 171 stores in Germany by the end of September this year as part of ...
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News briefs
Feine Wiener Schuhmanufaktur files for bankruptcy
The Austrian shoe company Feine Wiener Schuhmanufaktur has filed for bankruptcy. Insolvency proceedings without self-administration were opened by a commercial court in Vienna, which appointed the lawyer Günther Hödl as provisional insolvency administrator. Under Austrian law, in the case of insolvency proceedings without self-administration, the court-appointed administrator takes ...
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News briefs
Insolvent shoe retailer P.S. Shoes closes 8 stores out of 12
The German footwear retailer P.S. Schuhe is shutting down most of its stores after restructuring under self-administration failed to put the company back on track. P.S. Schuhe, which belongs to the Osnabrück-based company Lemax Shoe-Fashion, operated twelve stores, including an outlet in Osnabrück, before recently filing for bankruptcy. ...
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ArticleItalian shoemakers increase Q1 revenues by 13.6%
Italian shoemakers increased their revenues by an estimated 13.6 percent year-over-year in the first quarter of 2023, according to a survey carried out by Confindustria Moda’s research center among members of the Italian footwear association Assocalzaturifici. The survey showed that 53 percent of companies enjoyed an increase in revenues during ...
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ArticleThe French brand Heschung is taken over
The French footwear company Heschung is being taken over by PPL Finance following a court ruling issued on July 5. On April 11, the nine stores of the Alsace-based brand had been placed into receivership while a liquidation process was launched for the production site situated in Steinbourg, about 40 ...
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News briefsMicam unveils the “Walk Your Way” campaign
Micam unveiled the new campaign called Walk Your Way for the edition scheduled from Sept. 17 to 20 at the Fieramilano Rho exhibition center at the outskirts of Milan. ”This encouragement is much more than just a motto: it is a message promoting individuality, authenticity and self-expression through the shoes ...
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News briefs
Shoe Zone lifts guidance again after ‘exceptional’ trading month
Shoe Zone has lifted its full-year profit forecast for the second time in five weeks after an “exceptional” month of sales since its last update on June 9 as consumers seek value amid the U.K.’s cost-of-living crisis. “Trading has significantly exceeded management expectations due to continued strong demand with volumes ...
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News briefs
Dr. Martens trading in line with its expectations
Dr. Martens said that trading since the start of the current financial year, which kicked off on April 1, has been in line with expectations. The fiscal first quarter is the British company’s smallest period of the year as it is marked by the end of spring/summer trading. The firm ...
