All Shoe Intelligence articles in Volume 25, Issue 19+20 – Page 2
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Articlea.k.a Brands in 1-for-12 reverse share split
a.k.a. Brands Holding Corp. will carry out a one-for-12 reverse stock split of its common stock, that will become effective on Sept. 29 at 5:01 PM Eastern Time, after the close of trading on the New York Stock Exchange (NYSE). On Oct. 2, 2023, the company’s common stock will begin ...
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News briefs
Shoe Carnival appoints a new CFO
On Sept. 25, Shoe Carnival announced that Patrick Edwards was named senior vice president, chief financial officer, secretary and treasurer, effective immediately. Edwards served as the company’s chief accounting officer and secretary since 2021 and served as vice president and controller since he joined Shoe Carnival in 2019. ”Mr. Edwards ...
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ArticleRussian online retailer Lamoda plans to open 300 physical stores
Major Russian marketplace Lamoda plans to invest 30 billion rubles (€300m) over the next three years to open 300 brick-and-mortar stores in the country, partly taking over a former Adidas branch. The first 50 stores are expected to be operational by the end of 2023, a source close to the ...
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ArticleLeder & Schuh reports strong increase in sales for 2022
Austria’s Leder & Schuh, one of Europe’s largest shoe retailers, reported a strong increase in sales in 2022, confirming the previous year’s positive sales trend. Revenues rose to €351 million from €280 million in 2021, an increase of around 25 percent. The company’s gross profit rose to €147.5 million ...
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News briefsShoe Carnival hikes dividend by 20%
Shoe Carnival has declared a quarterly cash dividend of $0.12 per share, representing an increase of 20 percent from $0.10 per share previously. The dividend will be paid on Oct. 17 to shareholders of record as of the close of business on Oct. 3. “This marks our 46th consecutive quarterly ...
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News briefsGeox picks Penélope Cruz as brand ambassador
Geox has chosen Penélope Cruz as its first-ever brand ambassador. The Spanish actress-cum-model and designer will feature on the Italian brand’s advertising campaign for the forthcoming autumn/winter collection. Cruz has also developed with her sister Mónica a capsule collection with Geox for spring/summer 2024 that will be launched in February. ...
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ArticleThe attendance at Micam and its sister fairs rises by 21%
Micam, the footwear fair which ran from Sept. 17 to 20 at the Fieramilano Rho exhibition center at the outskirts of Milan, along with the trade shows Mipel, The One Milan and HOMI Fashion&Jewels Exhibition attracted 42,273 visitors, up by 21 percent compared with the September 2022 edition, from 129 ...
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ArticleNext lifts guidance again as strong summer, wage rises boost sales
Next lifted full-year guidance for the third time in four months after better-than-expected summer sales and said easing inflationary pressures could see a fall in prices next year. Pre-tax profits are now forecast to come at £875 million (€1bn) from a previous guidance of £845 million (€974.2m), with the brand ...
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News briefs
Golden Goose shareholder reportedly hires an advisor for an IPO
The private equity Permira has hired a financial advisor to study an initial public offering (IPO) on the Milan stock exchange for Golden Goose, according to the business newspaper Il Sole 24 Ore. The advisor is believed to be a US investment bank present in Europe. The IPO could be ...
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News briefs
Reebok unveils new premium sportstyle line in partnership with Farfetch's NGG
Reebok has unveiled Reebok LTD, a new premium line led by New Guards Group (NGG), with the goal of further elevating the Reebok brand through new products and collaborations. Reebok defines LTD as “a playground for creative evolution” under the motto “LEARN. TEST. DESIGN.” (LTD); a platform to unleash personal ...
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News briefs
Asos appoints William Barker to its board
Asos has appointed William Barker as a non-executive director. Barker is the founder and CEO of Camelot Capital Partners, a California-based investment management company. Camelot Partners holds 16,722,381 ordinary shares in Asos, representing 14.02 percent of the issued share capital of the British online fashion retailer. “Asos has a long-standing ...
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ArticleHuntsman launches a liquid thermoplastic polyurethane for midsoles with framas
Huntsman said that it has developed a liquid thermoplastic polyurethane (LTPU) that enables the rapid manufacture of high-performing midsoles and is “aligned with the circularity ambitions of brands manufacturing sports and athleisure footwear.” The system is being launched jointly with framas, a German firm specializing in injection moulding and plastic ...
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News briefs
Novelship secures $9.5 million in Series B funding
Novelship, a Singapore-based marketplace founded in 2018, has received US$9.5 million in its Series B funding round led by East Ventures, iGlobe Partners and GSR Ventures. The company said the new funding will accelerate its efforts to strengthen its brand presence across Southeast Asia. This includes improving logistics capabilities, refining ...
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News briefs
Weak demand expected to prolong destocking in the U.S., EU
Weak demand in the U.S. and the European Union is expected to prolong destocking by brands and affect manufacturers of sportswear and footwear in 2024, according to the brokerage Jefferies. Despite resilient production by original equipment manufacturers (OEMs), Jefferies said that it has witnessed brands like Uniqlo “trimming orders and ...
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News briefs
Mike Ashley cuts his stake in Hugo Boss
Mike Ashley, the majority owner of the British retailer Frasers Group, has cut his stake in Hugo Boss to 19.65 percent from a previous 24.39 percent, according to a regulatory filing from the German fashion house. The figure includes financial instruments owned by Frasers. Ashley now owns 1.63 percent in ...
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News briefs
Gerry Weber creditors approve restructuring plan
Another hurdle was cleared for the troubled German fashion group Gerry Weber. The creditors of the insolvent company voted by a large majority in favor of a restructuring plan which includes a capital cut and the injection of new funds. Under the plan, Gerry Weber’s existing shareholders will be ...
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ArticleBrazil’s footwear exports continue to decline
In August, Brazilian footwear exports were down by 12.8 percent year-over-year in volume to 9.34 million pairs and by 18.6 percent in value to $95.6 million, according to data released by the Brazilian footwear association Abicalçados. In the first eight months of 2023, shoe exports totaled 82.28 million pairs, down ...
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ArticleChina becoming more challenging for foreign investors - AmCham Shanghai
Sentiment about doing business in China is at a record low as the country becomes more challenging for foreign investors, according to a survey released by The American Chamber of Commerce in Shanghai (AmCham Shanghai). “U.S.-China bilateral tensions, Covid disruptions and macroeconomic pressures, member companies report worsening business results and ...
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News briefs
Zalando launches Stories
In close collaboration with Highsnobiety, Zalando has introduced Stories on its platform. Curated editorial content is seamlessly linked to the shopping experience in visual formats, such as short videos, and is intended to serve as a new source of inspiration for customers. Stories on Zalando can be experienced not only ...
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News briefs
Heydude fined by U.S. consumer protection agency
Crocs-owned brand Heydude has agreed to pay $1.95 million to settle allegations by the U.S. Federal Trade Commission (FTC) that it misled consumers by suppressing negative reviews, including more than 80 percent of those that did not award four or more stars. The FTC accuses the company of violating its ...
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