All Shoe Intelligence articles in Volume 25, Issue 7+8 – Page 5
-
News briefs
Trussardi seeks court protection
The Italian fashion brand Trussardi has asked a Milan-based court to appoint an administrator to manage its debt of €51.1 million. In order to enact the so-called crisis settlement procedure the company’s entire board has resigned. According to the daily Il Sole 24 Ore, the procedure, which is similar to ...
-
News briefs
K-Swiss in a collaboration with the New York brand Corridor
K-Swiss, an American heritage tennis brand, said that it is launching a premium footwear collection with Corridor, a New York-based men’s clothing brand, through a ”creative editorial campaign” in Racquet magazine. The unisex footwear collection consists of the performance tennis shoe SpeedTrac, retailing at $140 a pair, and the heritage ...
-
News briefsLloyd revamps its sales structure
The German shoe maker Lloyd Shoes has revamped its sales structure as part of an organizational overhaul. The company is reorganizing its sales division in southwestern Germany, comprising the landers of Hesse, Rhineland-Palatinate, Saarland, Baden-Württemberg and Bavaria, and in Luxembourg starting from the autumn/winter 2023 sales season. Responsibilities for ...
-
News briefs
Consumer demand for footwear bounces back in Russia
In January 2023, Russian fashion retailers enjoyed an 11 percent year-over-year rise in revenues thanks to a 6 percent increase in customer traffic, Russian consulting firm Focus Technologies estimated, attributing the trend primarily to weaker competition due to the departure of numerous Western brands from the country following Russia’s invasion ...
-
ArticleInsolvent Surf4shoes is taken over
The German online shoe retailer Surf4shoes has found a new owner. The company, a subsidiary of the Osnabrück-based Hamm Reno Group, filed for preliminary insolvency in September 2022 and bankruptcy proceedings were opened on Dec. 1. Commertunity, which specializes in the acquisition, development and management of brands and business ...
-
ArticleRussia’s retailer Paolo Conte goes bankrupt
A Russian court has declared St. Petersburg-based footwear retailer Paolo Conte bankrupt, sparking concern over the future of small-scale players in the country. Paolo Conte operated 81 stores and was ranked sixth in the list of the largest mid-priced footwear retailers in Russia. The company started facing financial difficulties in ...
-
ArticleHow a group of Polish shoemakers is seeking to relaunch their industry
Created in 2019, Polska Grupa Producentów Obuwia (PGPO) is a proactive grouping of more than 50 Polish shoemakers largely based in the southern province of Malopolskie, the country’s main footwear cluster, aiming to promote their industry which has been badly hit by Russia’s invasion of Ukraine on Feb. 24, 2022. ...
-
ArticleGrendene sales suffer, outlook uncertain as consumers’ disposable income shrinks
Grendene generated fourth quarter revenues of 938.0 million reais (€169.6m), down by 0.9 percent on the year earlier as high inflation, interest rates and unemployment put a dent into the disposable income of consumers and below-average temperatures and political uncertainty in its home market of Brazil further hurt demand. Domestic ...
-
ArticleArezzo buys the Italian brand Paris Texas
Arezzo & Co is buying a 65 percent stake in Paris Texas, an Italian brand specializing in the creation, production and sale of luxury women’s shoes. Founded in 2015 by Massimo Baltimora and Annamaria Brivio, Paris Texas is based in Monza, 20 kilometres north of Milan, and is controlled through ...
-
ArticleFerragamo warns that inflation may further erode margins in 2023
Salvatore Ferragamo warned that its 2023 operating margins could be slightly lower than last year due to higher costs, which could put pressure on the stock price of the Italian fashion house which is already trading at lofty multiples. The average target price for financial analysts is around €16.14 compared ...
-
News briefs
Spanish footwear exports exceed €3bn in 2022
Spanish footwear exports rose 22 percent in 2022 to €3.28 billion, according to the industry ministry. In volume, exports nearly reached 160 million pairs, up by 6 percent, added the Spanish footwear association, Fice. Compared with 2019, the year before the outbreak of the Covid-19 pandemic in Europe, exports ...
-
News briefsNatural World's sales up 10%
Natural World, which seeks to produce a 100 percent ecological shoe, is enjoying an annual growth rate of 10 percent, according to sales director Jorge Velo, who spoke with Diffusion Sport at last month’s Micam show. The 11-year-old brand generates 70 percent of total sales outside its home country of ...
-
News briefs
Vulcabras’ 2022 sales rise by 36%
In 2022, Vulcabras posted a 36 percent increase in revenues to R$2,536.9 million (€413.1m) from R$1,867.2 million a year earlier with sales in the home Brazilian market increasing by 33.5 percent to R$2,309.0 million (€430.6m) and foreign sales up by 65.5 percent to R$227.9 million (€42.5m). Annual e-commerce sales increased ...
-
News briefs
Turkish inflation slows down
In February, Turkish inflation reached 55.18 percent year-on-year compared with 57.68 percent in January, according to the statistics office Tuik. It is the fourth consecutive month that annual inflation declines. Month on month, inflation reached 3.15 percent. Clothing and footwear was the segment with the lowest inflation, falling by ...
-
ArticleGarmont's sales rise 60%, Germany remains the main market
Garmont, the Italian outdoor footwear company founded in 1964, reported sales of €40.5 million in 2022, up by 60 percent from the previous year, and an Ebitda margin of more than 16 percent. ”In 2022 we defined a strategy that allowed us to maintain our market positions while taking into ...
-
ArticleNordstrom exits Canada
Nordstrom is exiting Canada, a market it entered in 2014 with “a plan to build and sustain a long-term business there,” announced Erik Nordstrom, the chief executive officer of the U.S. retailer. The Canadian business operates six Nordstrom stores and seven Nordstrom Rack units, as well as the Nordstrom.ca website, ...
-
News briefs
Xero Shoes and Michelin partner for new barefoot hiking shoe
Xero Shoes, the U.S. barefoot footwear specialist, has partnered with JV International, the global licensee of Michelin soles with offices in Italy, Hong Kong and China, for the Scrambler Mid, a new, ultra-light trekking shoe. According to the manufacturer, the lightness of the Michelin sole, conceived, designed and manufactured exclusively ...
-
News briefs
Snipes hires a general manager for Europe
Dennis Schröder, the chief marketing officer who just left 11teamsports, will take over the position of general manager for Europe at the sneaker specialist Snipes from May 1, 2023, supporting its founder and CEO Sven Voth in the day-to-day operations. In addition to Voth, CFO Tim Spickenbom and COO Peter ...
-
News briefs
Zalando hires head of retail from Nike
Benjamin Wolf, who served as Nike’s director of retail operations from March 2019 to January 2023, posted on LinkedIn that he has joined Zalando as head of retail, effective immediately. In total, Wolf spent roughly 15.5 years at Nike. On social media, he commented on the new job at the ...
-
News briefs
Higher costs and bureaucracy weigh on German fashion retailers
Burdened by soaring costs and entangled in red tape, fashion retailers are “currently struggling with considerable problems” despite sales returning to pre-pandemic levels, a survey from Germany’s textile, shoes and leather goods trade association, BTE, showed. Retailers participating in the survey rated the surge in costs with an average ...
