All Shoe Intelligence articles in Volume 25, Issue 5+6
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PDF NewsletterShoe Intelligence Executive Edition: Vol. 25 - 5+6
About 400 Turkish footwear factories were destroyed in February’s earthquakes | Italian shoemakers’ 2022 revenue growth revised upwards to 14.0% | Görtz brings in a new investor to exit insolvency procedure | Gabor resumes growth in 2022 after the pandemic collapse | ANWR Group FY revenues rise nearly 10% | San Marina goes into liquidation | Jimmy Choo’s quarterly sales hit by Covid resurgence in China | Sergio Rossi more than doubles 2022 sales | ACBC more than doubles 2022 sales, enters partnership with Diadora | iHeel presents an extendable heel for women’s shoes | How a new collection has prompted Safety Jogger to review its supply chain | Pouyuen Vietnam to axe 6,000 jobs | Steve Madden sees about 20% drop in wholesale revenues in H1 | Stuart Weitzman’s Q2 sales down nearly 24% | Crocs brand gains traction in EU; Heydude prepares for expanded distribution | Rocky Brands sees 2023 sales down 7-9% after 18% dip in Q4 | Wolverine Worldwide forecasts meaningful profit progress in H2 | Designer Brands buys Keds from Wolverine Worldwide | VF takes action to improve performance, divesting pack brands | Alpargatas swings to Q4 loss as inflation erodes purchasing power | Online footwear sales plummeted in 2022 in Germany | Farfetch Q4 sales dip 5%, profits squeezed but company sees ‘solid’ start to 2023 | Zalando to axe several hundred jobs
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ArticleGörtz brings in new investor to exit insolvency procedure
The insolvent German footwear chain Görtz has found a new investor. Currently undergoing a restructuring under a self-administration procedure, the ailing Hamburg-based company said that, after an “intensive process and extensive discussions with many interested parties,” the provisional creditors’ committee has picked a long-term oriented private investor. Görtz did ...
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News briefs
Zalando to introduce a basic fee, hike marketplace commissions
According to information from various media for online retailers, Zalando will soon be introducing a new fee schedule. Previously, the Zalando platform only charged commissions for successful sales. As of July 1, Zalando is implementing a basic fee of €480 per year for its marketplace. The basic fee applies both ...
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ArticlePrimark lifts guidance as consumers start shopping early for summer
Primark’s parent company, Associated British Foods (ABF), has lifted full-year guidance as consumer spending proved to be more resilient in the first half, with Britons buying early for the summer holidays and inflation easing. The group now expects adjusted operating profit in the 24 weeks to March 4 to ...
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News briefs
OrthoLite reaches 500 footwear brand partners
OrthoLite, the U.S.manufacturer and provider of insoles and material solutions for footwear since 1997, is celebrating a major milestone by welcoming its 500th footwear brand partner. OrthoLite insoles are now found in more than 550 million pairs of shoes each year across all categories – athletic, running, comfort, golf, lifestyle ...
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News briefs
Marc O’Polo hires Jan Brinkmann to head the footwear division
The Swedish-German fashion label Marc O’Polo hired the industry veteran Jan Brinkmann as the new director of its footwear division, as the company continues to expand in the sector. Brinkmann will join Marc O’Polo on July 1, 2023 and initially focus on sales and marketing, working alongside the current ...
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ArticleRocky Brands sees 2023 sales down 7-9% after 18% dip in Q4
Rocky Brands said it expects sales to decline by about 7-9 percent in 2023 to $560-570 million from the $615.5 million seen in 2022 as it pointed to continued economic uncertainty after posting an 18.0 percent decline in revenues in the fourth quarter of 2022. “With the outlook for the ...
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ArticleSteve Madden sees about 20% drop in wholesale revenues in H1
Steve Madden expects an about 20 percent drop in wholesale sales, which represent nearly 60 percent of its top line, during the first half of 2023 as clients reduce orders to reduce excessive inventories. In a conference call with financial analysts, the company’s chairman and CEO, Edward Rosenfeld, noted that ...
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ArticleItalian shoemakers’ 2022 revenue growth revised upwards to 14.0%
Italian footwear manufacturers estimated that in 2022 aggregate revenues rose by 14.0 percent year-over-year to €14.5 billion and were 1.2 percent above pre-Covid levels. A previous survey released in January estimated that 2022 revenues had risen by 13.2 percent compared with 2021. According to a survey carried out by Confindustria ...
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ArticleFarfetch Q4 sales dip 5%, profits squeezed but company sees ‘solid’ start to 2023
Farfetch reported a decline in revenues and gross merchandise value in the fourth quarter of 2022, a year marked by “unprecedented macro headwinds”, but said it was on better footing in 2023 after completing a strategic revamp and confirmed its guidance for growth in gross merchandise value (GMV) and an ...
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News briefs
VF issues €1bn in unsecured senior notes
VF Corporation is issuing unsecured senior notes, whose proceeds will be used to finance general corporate purposes, including the repayment of borrowings under its commercial paper program. The U.S. company has priced €500 million of unsecured senior notes due 2026 at 99.704 percent of the principal amount with a coupon ...
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News briefs
Loro Piana opens a new footwear factory
Loro Piana, the Italian fashion brand bought by the French luxury goods group LVMH in 2013, has inaugurated a new footwear factory in Porto San Giorgio, in the central Italian region of the Marche. Production will focus on the brand’s White Sole shoes.
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News briefs
Primadonna Collection aims for revenues of €120m in 2023
The Italian footwear and apparel retailer Primadonna Collection aims to post annual sales of €120 million this year after ending 2022 with a top line of about €110 million, the founder and manager Valerio Tatarella told the website Fashionmagazine.it. Tatarella also said that the brand plans to enter the Vietnamese ...
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News briefs
Micam and sister fairs attract 48,276 visitors
The February edition of Micam, along with the three shows held with the footwear trade fair, attracted 48,276 visitors compared with nearly 35,500 in September 2022 and some 29,500 in March 2022, as the shows continue to recover from the havoc caused by the Covid-19 pandemic, which disrupted travel and ...
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Article
Online footwear sales plummeted in 2022 in Germany
Online sales plummeted in Germany in 2022 as the Ukraine war took its toll on consumer spending, with the footwear sector bearing the brunt of the downturn, a survey from the association of e-commerce and mail order trade, BEVH, showed. E-commerce sales in Europe’s biggest economy dipped last year ...
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News briefs
World Footwear Congress postponed due to earthquakes
The European Footwear Confederation (CEC) postponed the 7th edition of the World Footwear Congress, that was scheduled to be held on May 9-11 in Istanbul, due to the ”devastating earthquakes” that occurred in Turkey and Syria on Feb. 6. CEC said that the congress is postponed until later in the ...
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News briefs
Italian large fashion firms combined sales rise 20% in 2022
The combined turnover of large Italian fashion firms rose by 20 percent in 2022 compared to the year earlier to reach €82 billion, according to a report from the research arm of the Italian bank Mediobanca. The report covered fashion companies headquartered in Italy and with revenues above €100 million. ...
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News briefs
Consumer confidence improves in Germany, U.K.
Consumer confidence improved in Germany and the U.K. but slipped slightly in France. Confidence levels remain low in all three countries. Consumer confidence in Germany is expected to rise to -30.5 points in March, up 3.3 points from a revised -33.8 points in February, according a preliminary reading by the ...
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News briefs
Skechers enters a new fashion collaboration
Skechers has teamed up with style icon Diane von Furstenberg of luxury fashion brand DVF for Skechers first-ever footwear and apparel collab. Skechers x DVF features Furstenberg’s signature prints and bold colors and launches with the Endless Kisses capsule featuring the DVF “Lips” print. The collection aims to reflect ...
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News briefsAlibaba reports improved results despite challenges
Despite softer demand and supply chain and logistics disruptions, Alibaba reported revenues and profits for Q3 that exceeded Wall Street estimates. Revenues increased by 2 percent to 247.8 billion yuan renminbi (€34.1bn) from RMB 242.6 billion for the period ending Dec. 31. The Chinese e-commerce behemoth said in a statement, ...
