All Shoe Intelligence articles in Volume 25, Issue 23+24 – Page 3
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ArticleShoe Carnival sees Q4 comparable sales down 9-12%, cuts FY guidance after disappointing Q3
Shoe Carnival forecast that comparable sales would decrease by 9 to 12 percent in its fourth quarter ending in January 2024 and cut its guidance for the full year, amid limited visibility on consumers’ buying behavior in the upcoming holiday season and after unseasonably hot weather in September and October ...
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News briefs
Prada COO reportedly leaves for Gucci
Massimo Vian, the chief operating officer of Prada Group, will quit on Nov. 30 to join Gucci, according to various media reports. Vian started with the Italian fashion group in May 2020. His position will be held on an interim basis by Prada Group’s CEO, Andrea Guerra. Separately, fashionmagazine.it reported ...
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News briefs
Nice Footwear takes full control of Favaro, Emmegi
Nice Footwear has increased its stakes in Emmegi and Favaro Manifattura Calzaturiera to 100 percent from 80 percent. The Italian footwear company bought its initial stake in Emmegi, an Italian producer of premium handbags, in 2022 and its initial stake in Favaro, an Italian manufacturer of luxury women’s shoes, in ...
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News briefs
Brazilian footwear exports rise in volume in October
In the first ten months of 2023, Brazilian footwear exports totaled 102.5 million, down by 14 percent year-over-year in volume, and generating about $1 billion in revenues, down by 8.8 percent in value. Compared to the first ten months of 2019, prior to the impact of Covid-19, exports were up ...
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News briefs
Christian Louboutin, Meta jointly sue an alleged Mexican counterfeiter
Christian Louboutin and Meta Platforms, which owns the social networks Instagram and Facebook, filed a joint lawsuit in the U.S. against a Cesar Octavio Guerrero Alejo, who allegedly sold counterfeit products from Mexico. According to the complaint filed with the U.S. District Court for the Northern District of California, the ...
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News briefs
Scarpa could sell a 25% stake to an outside investor
Scarpa is believed to have hired the investment bank Finint to find an investor ready to buy an about 25 percent in the Italian footwear company, according to the daily Corriere della Sera. The transaction would enable the company to raise funds to accelerate its expansion, which could include acquisitions, ...
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News briefs
Columbia appoints a new president for Sorel
Columbia Sportswear Company has appointed a new president for its Sorel brand. Cory Long will be joining the company in December. Long is a veteran of the footwear and apparel industry, most recently serving as global general manager and chief global merchant of DC Shoes. He has leadership experience at ...
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News briefs
Skechers ready to “completely vindicate itself” against Nike lawsuit
Skechers has issued a response to the patent suit filed against it by Nike in a California-based federal court on Nov. 6, saying it will “vigorously defend” itself. Nike is suing Skechers for allegedly violating its Flyknit patents. Flyknit is a lightweight yarn woven into a one-piece shoe upper. A ...
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News briefs
Burberry issues a profit warning as demand for luxury goods slows down
Burberry warned that due to a slowdown in luxury demand globally it is unlikely to achieve its revenues target for the year ending at the end of March and in this context the adjusted operating profit is now expected to come in towards the lower end of the £552 million ...
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ArticleDr. Martens names a chief brand officer and a CFO
Dr. Martens has appointed Ije Nwokorie for the new role of chief brand officer from Feb. 1. The company also announced that Giles Wilson will be its new chief financial officer, also scheduled to start in 2024. The actual date still has to be confirmed. Nwokorie will cease to ...
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ArticleBelow-average order rates continue to impact Yue Yuen
Profit attributable to Yue Yuen fell by 49 percent to $137.7 million for the nine months ended Sept. 30 from $270.1 million a year earlier, as sales declined by 14.1 percent to $5.99 billion from $6.97 billion. Manufacturing revenues declined by 20.9 percent year-over-year to $3.79 billion. Ebit sunk by ...
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ArticleHow Future Fashion’s founders are working on their exit strategy
Future Fashion, the owner of the namesake omnichannel platform offering fashion brands the possibility to “virtualize and customize” their collections in 3D using SaaS (Software as a Service) technology, and Design Italian Shoes (DIS), which sells customized shoes, have entered into a couple of partnerships outlining the exit strategy of ...
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News briefs
Gabor and ECC make reordering easier
The German shoe manufacturer Gabor Shoes has partnered with European-Clearing-Center (ECC) and the merchandise management system provider ETOS on a project aimed at making reordering easier and less costly. The shoe retailer Roman Degenhardt also joined the project and is testing its implementation. “ELViS, an acronym for our electronic supplier ...
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News briefs
Dr. Martens appoints a new CFO
Dr. Martens has appointed Giles Wilson as chief financial officer. He will take up his role with the British shoe maker in 2024. The actual date still has to be confirmed. Wilson joins Dr. Martens from William Grant & Sons Limited, one of the largest global spirits companies, owners ...
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ArticleArezzo sales up 13% in Q3 despite lower shoe, handbag volumes
Arezzo & Co posted gross revenues of 1,583 million Brazilian reais (€300.4m) in the third quarter of 2023, up by 12.7 percent compared to the year earlier and underpinned by an increase in full-price sales that helped to offset a drop in sales volumes for shoes and handbags. The number ...
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ArticlePollini’s sales growth turns negative
Pollini, the luxury footwear brand owned by the Italian fashion house Aeffe, posted sales of €8.9 million in the third quarter of 2023, down by 16.5 percent from a year earlier, resulting in a 4.2 percent drop in the first nine months to €26.1 million. In the first half of ...
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News briefs
PVH sells Warners, Olga and True & Co. to Basic Resources
PVH is selling its Warners, Olga and True & Co. businesses to Basic Resources for $160 million, plus an earnout based on the net sales on a portion of the acquired businesses for calendar 2024, with a maximum value of $10 million. The transaction is expected to close at the ...
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News briefs
Dr. Martens’ trading data is weak - Barclays
Data from Google Trends and Similarweb for Dr. Martens looks weak, lapping already poor data from 2022, according to Barclays. The British footwear company has a lot to deliver in the second half of its fiscal year, ending in March, to meet estimates. The task could be difficult if a ...
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ArticleVeldskoen Shoes diversifies into the travel industry
Veldskoen Shoes, a South African footwear brand, is expanding into the travel industry through a partnership in the U.S. with Rhino Africa Co, a safari company. The partners have launched Veldskoen Travel, a digital travel service “designed to provide unforgettable travel experiences to Africa,” it said in a statement. “Veldskoen’s ...
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ArticleJimmy Choo’s sales fall on weaker consumer demand
In the second quarter ended Sept. 30, Jimmy Choo posted revenues of $132 million, down by 7.0 percent year-over-year on a reported basis and by 9.2 percent at constant currency rates due primarily to a softening in consumer demand, mainly in the Americas. Revenues in the Americas declined by 11.6 ...
