All Shoe Intelligence articles in Volume 25, Issue 17+18
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PDF NewsletterShoe Intelligence Executive Edition: Vol. 25 - 17+18
Indian footwear sector revenues seen up 11% driven by higher prices | How after a stellar 2022, Spanish shoemakers are facing a challenging environment | How Turkey is still benefiting from Covid-19 reshoring, even if some production has returned to the Far East | Sergio Rossi boosts H1 sales | Ferragamo’s sales weakness expected to continue until Q4 | Russian footwear retailer Kotofey speeds up expansion program | Baozun to buy 51% stake in Hunter’s IP in Greater China, Southeast Asia | Wolverine sells Hush Puppies IP in China, Hong Kong, Macau, divests U.S. leather business | Stella improves its operating margins in H1 | Soft global footwear demand continues to impact Yue Yuen | Caleres maintains guidance as profits increase in Q2 despite ‘choppy’ market | Wolverine’s new CEO to spearhead turnaround as Q2 results tumble | Steve Madden’s expects an improvement in H2 after Q2 sales fall 17% | Schuh shines for Genesco in Q2, but company retains ‘cautious’ FY view | Shoe Carnival cuts guidance again but makes inroads among higher-income customers | Weyco posts higher profit, margin despite lower Q2 sales | Tapestry to buy Capri in a deal worth $8.5bn | Foot Locker suspends dividend payments amid falling sales | Boot Barn’s Q1 sales rise, beating the company’s forecast | KYX re-emerges as a platform for secondhand sneakers | Grendene is optimistic about H2 despite a weak Q2 | Arezzo continues to book record sales | Frasers increases its stakes in Boohoo and Asos | Next hikes stake in Reiss to 72%
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News briefs
Naf Naf files for receivership
The French fashion brand Naf Naf has asked to be placed into receivership as it faces arrears in rent payments that it accumulated during the Covid-19 lockdowns, a company spokesperson told the news agency AFP. The request was made with a commercial court located in Bobigny in the outskirts ...
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News briefs
Church’s launches a capsule collection for Miu Miu
Miu Miu has entered into a collaboration with Church’s. Both brands are part of the Prada Group. The collaboration infuses “the formality of the heritage brand with the free spirit the Miu Miu name represents,” the group said in a statement. The capsule collection Church’s X Miu Miu includes two ...
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ArticleCaleres maintains guidance as profits increase in Q2 despite ‘choppy’ market
Caleres maintained its earnings and revenue guidance for the full year, after posting better-than-expected profits in the second quarter despite a slightly worse-than-anticipated sales performance and a market that continues to be “choppy”. In the second quarter ended July 29, sales at the U.S. footwear group slipped by 5.8 percent ...
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ArticleSergio Rossi boosts H1 sales
In the first half of 2023, Sergio Rossi, the Italian shoemaker owned by the Chinese luxury goods firm Lanvin Group, posted sales of €33 million, up by 22.4 percent from a year earlier. The brand’s sales rose by 29.7 percent in EMEA, 31.5 percent in North America and 20.9 percent ...
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News briefs
Coats completes the sale of its European Zips business
Coats said that it has completed the sale of its low margin European Zips business. On July 4, the British industrial thread and global footwear component manufacturer, announced that it had entered into an agreement to sell its European Zips business to Aequita, a German family office, for an expected ...
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ArticleNext hikes stake in Reiss to 72%
The British fashion retailer Next and the Reiss family have agreed to acquire a 34 percent interest in the fashion group Reiss for £128 million (€149.3m) from the private equity Warburg Pincus. Upon completion of the transaction, which is expected to take place in mid-October, Next’s holding in the Reiss ...
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ArticleWolverine sells Hush Puppies IP in China, Hong Kong, Macau, divests U.S. leather business
Wolverine World Wide announced additional steps in the ongoing streamlining of its brand portfolio, including the sale of Hush Puppies intellectual property in China, Hong Kong and Macau, and the sale of its U.S. Wolverine Leathers business. The portfolio transformation is expected to help the company become more efficient, direct ...
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ArticleFrasers increases its stakes in Boohoo and Asos
Mike Ashley’s Frasers Group has again increased its stake in Boohoo, just days after doing the same at Asos, another British fast fashion e-tailer. In two days, Frasers, the owner of Flannels and Sports Direct, among others, lifted its stake in Boohoo to 10.42 percent from 7.8 percent, meaning it ...
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News briefs
Designer Brands president William Jordan to leave
Designer Brands announced that William (Bill) Jordan, the president of the company and president of Camuto LLC, will step down from his positions on a date that is expected to be on or before Dec. 1, 2023. The announcement was made in 8-K filing with the U.S. Securities and Exchange ...
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News briefs
Crocs hires a new head of investor relations
Crocs has hired Erinn Murphy as senior vice president, investor relations and corporate strategy. She will join the company’s leadership team on Sept. 5, reporting directly to the group’s executive vice president and chief financial officer, Anne Mehlman. Murphy joins the company from the investment bank Piper Sandler. She built ...
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News briefs
Unity Brands buys Casca Footwear
Unity Brands has bought Vancouver-based Casca Footwear, which was founded in 2017 by Braden Parker and Kevin Reid. No financial details were available. “I am incredibly proud of what we have built over the last seven years, and I’m looking forward to seeing Casca achieve new levels of growth with ...
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ArticleSchuh shines for Genesco in Q2, but company retains ‘cautious’ FY view
Bolstered by warm weather and higher average selling prices (ASPs), the Schuh Group segment of Genesco reported a record quarterly operating income of $8.4 million against $2.1 million a year earlier. With approximately 40 percent of its business generated by the digital channel, Schuh reported 21 percent sales growth to ...
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News briefs
Shakira becomes global brand ambassador for Ipanema
Shakira, the Colombian singer, is the new global brand ambassador for Ipanema’s Sempre Nova collection, starting with next year’s spring/summer collection. Ipanema, a brand of women flip flops, sandals and slides, is owned by the Brazilian footwear manufacturer Grendene. “This collection, recently launched worldwide, resonates with people from diverse ...
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ArticleShoe Carnival cuts guidance again but makes inroads among higher-income customers
Shoe Carnival cut its full-year sales and earnings per share guidance for the second time as less affluent urban clients continue to face adverse economic conditions. However, the U.S. footwear retailer noted that its business environment is improving thanks to moderating inflation and by attracting more higher-income customers. “Simply ...
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News briefs
Pou Chen to axe more jobs in Vietnam
Pou Chen Corp, the world’s largest athletic footwear manufacturer, has told authorities that it will lay off 1,221 people on permanent contracts at its Ho Chi Minh City factory in Vietnam. Since the beginning of the year, Pou Chen has reduced the number of employees at the factory, which was ...
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News briefs
German consumer confidence continues to decline
German consumer sentiment is estimated to have fallen to -25.5 points in September from a revised -24.6 points in August, according to the research group GfK. The preliminary reading for August was -24.4. “The consumer sentiment is currently not showing a clear trend, neither downward nor upward – and that ...
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ArticleBaozun to buy 51% stake in Hunter’s IP in Greater China, Southeast Asia
Shanghai-based Baozun has entered into a partnership with Authentic Brands Group (ABG) that will give it a 51 percent stake in intellectual property of the Hunter brand in Greater China and Southeast Asia. On June 2, 2023, ABG announced that it had acquired the intellectual property of the British brand ...
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News briefs
Deichmann releases podcast following the journey of a shoe
The German shoe retailer Deichmann is releasing a podcast following the journey of the shoe, from idea to sale. The podcast title “From Head to Shoe” was chosen by Deichmann employees. In a German-language interview format, host Donya Farahani will take listeners chronologically through the individual areas of the ...
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News briefs
OrthoLite strengthens its sales team in China
OrthoLite, a U.S.manufacturer and provider of insoles and material solutions for footwear, is bolstering its Chinese sales management team with the hiring of Chuck Yu as director of sales strategy and John Liu as sales manager. Yu and Liu will be responsible for supporting OrthoLite China’s domestic brand partners as ...
