All Shoe Intelligence articles in Volume 25, Issue 5+6 – Page 2
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ArticleWolverine Worldwide forecasts meaningful profit progress in H2
Wolverine Worldwide, having already taken numerous actions in Q4 that included staff cuts and the divestiture of its Keds business, is targeting flat to 2 percent sales growth in FY23 and a 210-basis point improvement in adjusted gross margin to approximately 42.0 percent as it continues to transform its business, ...
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ArticleAbout 400 Turkish footwear factories were destroyed in February’s earthquakes
Some 400 footwear factories were destroyed in the cluster of Antakya during the two earthquakes, with respective magnitudes of 7.8 and 7.7, that hit southern Turkey and northwestern Syria on Feb. 6. 2023, according to Berke Içten, the chairman of the association of Turkish footwear manufacturers, TASD. The plants represent ...
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ArticleZalando to axe several hundred jobs
Zalando plans to cut several hundred jobs due to a more “challenging” business environment. The Berlin-based online fashion retailer employs 17,000 people. “We have decided to start a program that will remove several hundred overhead roles across many of our teams,” the company said in a message to staff. “Over ...
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ArticleSan Marina goes into liquidation
The French footwear retailer San Marina has been put into compulsory liquidation by a Marseille-based commercial court, leading to some 650 job losses in 163 stores. On Feb. 20, the court stated that no serious relaunch project had been put forward and that it had ordered the company to immediately ...
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ArticlePouyuen Vietnam to axe 6,000 jobs
Pouyuen Vietnam, one of Vietnam’s largest shoemakers, will cut 6,000 jobs due to a decline in orders, the news agency AFP reported citing a document of the labor department of Ho Chi Minh City’s local government. Pouyuen Vietnam, which is owned by the Taiwanese group Pou Chen, produces for Nike ...
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News briefs
Salomon launches first shoe featuring SCF-made Elastollan
Salomon is releasing the Index.02 running shoe with a midsole featuring Elastollan made with Supercritical Fluid (SCF) direct injection foaming technology. Elastollan is the brand name for BASF’s thermoplastic polyurethane (TPU).The Salomon Index.02 marks the first-ever footwear application of SCF-made Elastollan. The SCF technology enables an even gas dispersion, which ...
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News briefs
Coats refinances debt from the Texon acquisition
Coats, the British industrial thread and footwear components manufacturer, said that it successfully completed a competitively priced $250 million issue of U.S. private placement (USPP) notes. The issuance, on investment grade terms and heavily oversubscribed, refinances the $240 million facility which funded the acquisition of Texon in July 2022, Coats ...
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News briefs
Pinko launches the joint venture Pinko Shoes with Eli Group
Cris Conf, the parent company of the Italian fashion brand Pinko, has created the joint venture Pinko Shoes with the objective of achieving €40 million in annual revenues within six years. Cris Conf has a 51 percent stake in the joint venture, while the remaining 49 percent is owned by ...
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News briefs
Valleverde's sales reach €25m in 2022
Valleverde, the Italian footwear company owned by Silver1, posted sales of over €25 million in 2022, rising sharply from €14 million in 2021. The top line is also above the pre-Covid-19 level of €17 million reached in 2019. The brand achieves 65 percent of its revenues with women’s shoes. The ...
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News briefsSaye grows strongly in 2022 but misses its sales target
Saye, a fast-growing Barcelona-based company specialized in sustainable footwear, posted sales of €6.7 million in 2022, up by 20 percent year-over-year but below its target of €8 million. The company is estimated to have sold more than 70,000 pairs in 2022 as its retail network increased by 80 percent to ...
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ArticleSergio Rossi more than doubles 2022 sales
Sergio Rossi, the Italian shoemaker owned by the Chinese luxury goods Lanvin Group, posted sales of €61.9 million, up by 116 percent from a year earlier, outperforming the rest of the group. Lanvin Group increased overall revenues by 38 percent to €424.5 million. Sales for the Lanvin brand grew by ...
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News briefs
Brazilian footwear production seen up 1.6% this year
Brazilian footwear production is expected to grow by 1.6 percent this year to more than 860 million pairs, according to Abicalçados, the Brazilan footwear association. In January, Brazilian footwear manufacturers exported 14.63 million pairs, up by 4.5 percent year-on-year, generating $117.9 million in revenues, up by 16.6 percent. Abicalçados noted ...
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ArticleGörtz closes more stores amid heightened uncertainty
Görtz is closing more stores across Germany in a sweeping reorganization effort, after suffering a hefty sales drop during the Covid-19 pandemic. The ailing Hamburg-based footwear retailer declined to comment on the total number of stores to be closed or the number of employees affected, but according to the ...
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ArticleCrocs brand gains traction in EU; Heydude prepares for expanded distribution
Coming off a year when global revenues rose by nearly 54 percent to more than $3.5 billion and adjusted operating margin hit 28 percent, Crocs continues to see markets outside the U.S., including Europe, as important growth vehicles for both of its brands. In Q4, Crocs brand sales rose 75.6 ...
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News briefs
Tod’s and Lamborghini enter a partnership
Lamborghini, an Italian maker of sports cars owned by the German group Volkswagen, and Tod’s, an Italian fashion house, announced a partnership in luxury leather goods, shoes, apparel and accessories. “The two Italian brands’ exclusive collaboration celebrates Italian craftmanship and tradition as well as technological research and innovation: qualities that ...
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News briefs
Hermès’ FY sales up by nearly 30%
The French luxury goods group Hermès said that in 2022 it posted a net profit of €3.367 billion, up from €2.445 billion, while revenues rose by 29.2 percent to €11.602 billion. At constant currency rates, the top line was up by 23.4 percent. The leather goods and saddlery division increased ...
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News briefs
BasicNet posts 34% sales growth in 2022
BasicNet, the Italian parent for the Kappa, K-Way, Superga and Sebago brands, has reported preliminary results for 2022. Final results are due for release on March 9. Group brands’ aggregate sales rose 34.1 percent year-over-year to €1.27 billion in 2022. Commercial licensee and direct aggregate sales grew by 27 percent ...
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News briefs
Snipes invests in a new logistic center
The sports and lifestyle retailer Snipes is building a new service and logistics center in Bedburg, Germany, in order to be positioned for the planned expansion of the company. The construction is the largest logistics investment ever made by the sneaker and streetwear retailer. According to the company, Snipes is ...
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News briefs
Alpargatas hires a new head of finance
Following the resignation of Julian Garrido Del Val Neto, vice president of finance and investor relations, effective April 1, the board of directors of Alpargatas S.A., the Brazilian owner of the Havaianas flip-flop sandal brand, has elected André Corrêa Natal as his successor. His term will begin on April 1 ...
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ArticleHow a new collection has prompted Safety Jogger to review its supply chain
Safety Jogger, the leading brand of the Belgian footwear and apparel company Cortina, launched in November 2022 a workwear collection as part of its brand extension policy and the initiative has led the company to reconsider its sourcing policy and reduce its reliance on China. At Expoprotection, an international exhibition ...
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