All Shoe Intelligence articles in Volume 26, Issue 7+8
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PDF NewsletterShoe Intelligence Executive Edition: Vol. 26 - 7+8
Footwear sales rose by 4% in 2023 in Germany while 15% of stores closed | Venezuelan shoemakers rely on government intervention to regain market share | Kazakhstan sees a rise in footwear imports as local production remains low | Giovanna Ceolini confirmed president of Assocalzaturifici | Tempe to build a new distribution center in Valencia region | Tod’s shareholder calls for higher bid price to delist company | Prada posts strong fourth-quarter results | Ferragamo’s full-year profits shrink on weaker sales, higher investments | Golden Goose’s sales rose 18% in 2023 | Style Capital snaps up Autry, launches retail expansion plan | Deichmann continues to grow | Lloyd Shoes grows by 9% in 2023 | Gabor’s sales are steady | Former Görtz CEO Frank Revermann takes over Onygo | Coats sees recovery in footwear as customer destocking winds down | Manolo Blahnik opens a store in Hong Kong | Shoepassion’s creditors clear its restructuring plan | Caleres to bolster international presence with “outsized investments” | Shoe Carnival sees growth resuming this year | Genesco sees sales decline continuing as Journeys turnaround takes time | Designer Brands hit by a weaker footwear market | Allbirds names a new CEO as losses continue to grow | Shoes For Crews files for Chapter 11 to sell a refinanced US business | Kidpik and Nina Footwear are merging | Grendene’s Q4 bottom line underpinned by lower raw material costs | Yue Yuen’s profit, sales slip in 2023 | Stella improves its operating profits despite a decline in sales | Zalando aims to resume growth and cover 15% of the European fashion market | Spartoo posts a positive free cash flow | Asos, Boohoo, George at Asda commit to green claim rules in the UK | How returns can be an opportunity to boost sales
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ArticleVenezuelan shoemakers rely on government intervention to regain market share
Faced with a difficult domestic economic environment, tough competition from neighboring countries and China as well as illegal imports, Venezuelan footwear manufacturers are relying on government help to relaunch a flagging industry. With one billion pairs of shoes produced annually, Latin America accounts for 4.8 percent of world footwear production, ...
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ArticleKidpik and Nina Footwear are merging
Kidpik, a kids’ online clothing subscription-based company listed on the Nasdaq stock exchange in New York, and Nina Footwear, a private company operating a brand specializing in women’s and kids’ dress shoes, have agreed to combine. Under the deal, Kidpik will take over Nina Footwear through a reverse merger. Nina ...
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ArticleShoes For Crews files for Chapter 11 to sell a refinanced US business
Shoes For Crews and its US affiliates have filed for Chapter 11 relief in the United States Bankruptcy Court for the District of Delaware in order to sell the business rapidly as well as obtain the financial resources necessary to invest in growth across key markets globally. The Florida-based group ...
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News briefs
Keen and Namuk collaborate in kids’ sandals
Oregon-based footwear brand Keen announced its collaboration for the limited edition Seacamp sandal with the Swiss sustainable outdoor apparel brand Namuk. This latest limited-edition collaboration is in line with Keen’s commitment to promoting access to nature and inspiring the next generation of conservationists. One percent of each sale will go ...
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News briefs
ABG appoints a manager for Australia and New Zealand
Authentic Brands Group (ABG) announced the appointment of Lim Mi-Kyoung as senior vice president, head of Australia and New Zealand. In her new role, Mi-Kyoung will oversee ABG’s regional expansion, focusing on brand development and driving long-term growth. As ABG’s first employee based in Australia, she will build a team ...
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News briefs
Dr. Martens launches a collection with reclaimed leather
On March 26, Dr. Martens launched the Genix Nappa collection made from reclaimed leather provided by Gen Phoenix. “The collection aims to tackle waste by rescuing leather offcuts that would otherwise be destined for landfill and uses them to create a soft yet durable new material,” the British bootmaker said. ...
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News briefs
Chiara Ferragni dropped from Tod’s’ board
Tod’s is not reproposing Chiara Ferragni as a board director. The Italian entrepreneur, fashion influencer and blogger joined the board of the Italian luxury goods company in 2021 with the objective of helping Tod’s better approach young consumers. At the time, the news of her appointment boosted Tod’s’ share price ...
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ArticleManolo Blahnik opens a store in Hong Kong
Manolo Blahnik has opened a store in Hong Kong thanks to a joint venture with Bluebell Group. The two companies have been working together since 2016 and collaborate in various Asian markets. The partners already have stores operating under the banner of the London-based luxury footwear brand in Japan, Malaysia, ...
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News briefs
New head at Marco Tozzi
Christian Böhm is the new managing partner at the Wortmann Group’s subsidiary Marco Tozzi Shoes GmbH & Co. KG starting from June 1. Böhm, 42, will take the helm from Carsten Humke, who has been working for the Wortmann Group for 39 years and has been managing partner at Marco ...
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News briefs
Barefoot shoes manufacturer Leguano grows in 2023
The German barefoot footwear specialist Leguano reported positive results for 2023, with sales increasing by 22 percent from the previous year to €53.85 million. The company said in a statement that “this strong growth highlights the successful implementation of our corporate strategy and the high demand for Leguano’s high-quality ...
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ArticleTod’s shareholder calls for higher bid price to delist company
Tabor Asset Management, a US investment company that has a 1.1 percent stake in Tod’s, is urging shareholders to reject a public tender to delist the Italian fashion group on the grounds that it does not fully value the company. On March 22, the Italian stock market regulator Consob approved ...
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News briefs
Craft Sportswear uses Vittoria tire technology for running shoes
The Swedish brand Craft Sportswear and the Italian bicycle tire firm Vittoria have teamed up to create the Craft Xplor, a running shoe that utilizes Vittoria gravel cycling technology. The Craft Xplor, inspired by the versatility of gravel bikes, is meant to provide the same hybrid capabilities, feeling like a ...
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ArticleAsos, Boohoo, George at Asda commit to green claim rules in the UK
The UK’s Competition and Markets Authority (CMA) said that Asos, Boohoo and George at Asda have signed undertakings that commit them to an agreed set of rules around the use of green claims. The regulator also issued an open letter urging fashion retailers to review their claims and practices in ...
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ArticleH&M continues to target a 10% operating margin
In the first quarter ended Feb. 29, H&M Hennes & Mauritz significantly improved its bottom line as the Swedish fashion retailer strives to bolster its operating margins. The company saw sales gradually improve during the month of February thanks to “well-received” spring collections and confirmed its target of a 10 ...
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ArticleAsos’ sales plunge 18% in the first half but guidance maintained
Asos reported a sharp fall in sales for the first half of its fiscal year due to slowing demand and large discounts to clear excess stock, but the British online fashion retailer insisted that its turnaround plan was on track and maintained annual guidance. Sales plunged by 18 percent in ...
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News briefs
Visa and Mastercard to cut fees for US merchants
Visa and Mastercard will reduce their fees following an antitrust class action settlement with US merchants, according to a statement released by the law firm Hilliard Shadowen LLP. The settlement is expected to generate at least $29.79 billion in savings for US merchants in the five years following approval of ...
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News briefs
Alibaba logistics unit Cainiao drops IPO plans
Alibaba announced that its logistics subsidiary Cainiao Smart Logistics Network Limited has withdrawn its initial public offering and listing application on the Hong Kong stock exchange. The Chinese online retailer plans to offer to minority shareholders of Cainiao, including employees, the possibility to sell all their shares for $0.62 per ...
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ArticleStella improves its operating profits despite a decline in sales
In 2023, Stella International Holdings bolstered its operating and net profits despite declining revenues, down by 8.5 percent to $1,493 million. Shipments slumped by 12.5 percent year-on-year to 49.0 million pairs, but the average selling price grew to $29.7 a pair from $28.5 in 2022. By product categories, ...
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ArticleShoe Carnival sees growth resuming this year
Shoe Carnival expects its top line to grow by 4.0 percent to 6.0 percent in fiscal year 2024 after falling by 6.8 percent to $1,176 million the year earlier, as the recent acquisition of Rogan’s Shoes, continued strength at the Shoe Station banner, e-commerce growth and improving trends at its ...
