All Shoe Intelligence articles in Volume 25, Issue 17+18 – Page 3
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News briefs
OrthoLite Cirql has a new general manager
Performance footwear insoles OrthoLite has announced that Matt Thwaites is the new vice president and general manager of OrthoLite Cirql, the footwear solution that enables circularity for brands and factories. Thwaites brings more than two decades of experience in sales and operations in the textile industry to his new role. ...
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News briefs
Farfetch reports Q2 loss, small revenue drop
Farfetch reported an adjusted Ebitda loss of $30.6 million and a 1.3 percent drop in revenues to $572.1 million for the second quarter ended June 30. The net loss at the internet platform for luxury goods was $281.3 million against a profit of $67.7 million. Gross merchandise value (GMV) inched ...
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News briefs
Footway’s creditors consent to continuation of reorganization
The creditors of the Swedish Footway Group AB, operator of specialized online stores, which has been in reorganization since July 25, have given the go-ahead for the continuation of the ongoing reorganization until Oct. 25 at the Solna District Court. Despite historic profitability and strong growth, the publicly traded company ...
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ArticleKYX re-emerges as a platform for secondhand sneakers
Rising from the ashes of the sneaker subscription platform KYX World, that disappeared at the end of 2022, KYX Sneakers has reinvented itself as a platform for the resale of secondhand sneakers. The platform is launching with over 2,000 used sneakers priced between $50 and $2,000 a pair. KYX Sneakers ...
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ArticleFootasylum picks NewStore for its omnichannel experience
The British footwear retailer Footasylum has selected NewStore, which provides a German omnichannel cloud platform for retailers, to power its omnichannel experience across some 60 stores in the U.K. “This new partnership builds on Footasylum’s modern technology architecture, which also includes Talon.One, a promotion and loyalty automation solution. Together, NewStore ...
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ArticleStella improves its operating margins in H1
Stella International, the Hong-Kong based footwear manufacturer and retailer, improved its operating margins thanks to an increase in the average selling price (ASP) per pair due to new customers for its luxury and high-end fashion categories as well as higher demand for premium products, including for the sports category. The ...
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ArticleStuart Weitzman will be relying on sneakers, China to boost sales
Stuart Weitzman, the premium footwear brand of the U.S. fashion group Tapestry, posted fourth-quarter sales that were more than $12 million below expectations of financial analysts. However, the brand is relying on the launch of an extended sneaker assortment and the reopening of the Chinese market, after the lifting of ...
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ArticleBata India is exploring a partnership in its local market
Bata India said that it is exploring the opportunity of a partnership in its domestic market but had no developments to announce. ”We would like to inform that the company continues to explore opportunities for strategic alliance / collaborations / tie-up for the Indian market and as and when matters ...
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News briefs
Oofos president Steve Gallo leaves
The recovery footwear brand Oofos said that its president, Steve Gallo, has left the company he had joined in 2018. “While we are very sorry to see Steve Gallo leave Oofos, we are extremely grateful for his contributions and the immense impact he has had in building this brand and ...
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News briefs
British Footwear Development Trust launches training grant scheme
The British Footwear Development Trust (BFDT) has launched the Footwear Education and Training Grant Programme. The scheme is designed to “support individuals and businesses to reach their full potential within the dynamic U.K. footwear landscape,” BFDT said in a statement available on the website of the British Footwear Association. The ...
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News briefs
Designer Brands launches the first Le Tigre footwear line
Designer Brands, a U.S. designer, producer and retailer of footwear and accessories, launched on Aug. 14 the first-ever footwear line by Le Tigre. Le Tigre, along with the recent acquisitions of Keds and Topo Athletic, enables Designer Brands “to grow its brand portfolio in the increasingly important athletic and athleisure ...
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News briefs
Crocs refinances $1.18bn in debt and lowers the borrowing rate
Crocs repriced $1.18 billion in debt under its Term Loan B facility through a refinancing amendment. The move has lowered the facility’s borrowing rate by 0.50 percent. “I am very pleased with the outcome of this refinancing transaction. We successfully achieved a 0.50 percent reduction in our Term Loan B ...
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News briefs
Heydude has new content creator partner
Casual footwear brand Heydude has announced a partnership with content creators Dude Perfect. In what is a long-term partnership, the American sports and comedy group Dude Perfect will work in lockstep with Heydude on upcoming brand campaigns and creating bespoke content for the brand. The five members of Dude Perfect ...
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ArticleSoft global footwear demand continues to impact Yue Yuen
Profit attributable to Yue Yuen (YY) shareholders declined by 52 percent to $83,601,000 for the six months ended June 30 from $175,049,000 a year earlier, as sales fell by 12 percent to $4,154,968,000 from $4,709,792,000. Ebit fell by 36 percent to $143,227,000. The company cited a sluggish global macroeconomic environment ...
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ArticleJimmy Choo’s Q1 sales rise as expected
In the first fiscal quarter ended on July 1, Jimmy Choo posted revenues of $183 million, up by 6.4 percent compared to the prior year on a reported basis and by 7.0 percent at constant currency rates. The brand’s operating income was $16 million and operating margin 8.7 percent, compared ...
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ArticleGrendene is optimistic about H2 despite a weak Q2
Grendene suffered an 8.6 percent decline in gross revenues to 586.2 million reais (€108.9m) in the second quarter of 2023, but the Brazilian footwear group is optimistic about the second half of the year, when it usually achieves about 60 percent of its sales. Thanks to a positive first quarter, ...
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ArticleArezzo continues to book record sales
Arezzo & Co continued its record-breaking streak, having posted its highest-ever revenues for a second quarter and its biggest-ever sales day. The company said its second-quarter gross revenues reached $1.4 billion Brazilian reais (€260 million) in the quarter, representing a 21.6 percent increase year-on-year and a 100.8 percent increase over ...
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ArticleFerragamo’s sales weakness expected to continue until Q4
After suffering a 4.8 percent decline in total revenues to €600.1 million in the first half due to two consecutive quarterly decreases, Salvatore Ferragamo is expected to experience another weak third quarter before showing signs of recovery in the final three months of the year, according to Paola Carboni, financial ...
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News briefs
Allbirds’ Q2 operating loss rises slightly
Allbirds, which continues to move forward with its “strategic transformation plan” announced in March, intends to complete distribution agreements with partners in Canada and South Korea during the second half of 2023. In the second quarter of 2023, total sales fell 9.8 percent to $70.5 million from $78.2 million, ...
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ArticleWolverine’s new CEO to spearhead turnaround as Q2 results tumble
Chris Hufnagel, who was named president and CEO on Aug. 10, of Wolverine Worldwide, Inc (WWW) with immediate effect following the sudden departure of Brendan Hoffman, faces numerous headwinds from day one, with the group’s second-quarter figures now released. They range from getting inventory and debt to proper levels and ...
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