All Corporate articles – Page 11
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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 briefsBoohoo revamps executive incentive plan after share price drop
Boohoo has launched a new performance plan for senior managers after deciding previous targets were too hard to reach given the collapse in the company’s share price. The British online fashion retailer said its existing incentives had “little or no value” as shares had to reach at least £5 (€5.62) ...
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ArticleACBC more than doubles 2022 sales, enters partnership with Diadora
ACBC has yet to finalize its financial results for 2022, but the fast growing Italian B Corporation sneaker startup estimates that revenues grew by 130-140 percent year-on-year and Ebitda increased by 20-25 percent. “If we look at the last three years, revenues have been growing at an average of more ...
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ArticleThe upgrade of Expo Riva Schuh’s exhibition hall continues despite hiccups
Plans to upgrade the exhibition hall that hosts Expo Riva Schuh & Gardabags are progressing even though a significant portion of the project will be delayed following the bankruptcy of the construction group that had won a public tender for a large part of the works. The modernization of the ...
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News briefs
Walmart may close 3 technology hubs in the U.S.
Walmart plans to close three of its U.S. technology hubs, according to The Wall Street Journal citing memo sent by Suresh Kumar, the global chief technology officer of the American retailer, to staff. The hubs that are due to be closed are located in Austin, Carlsbad and Portland. Walmart will ...
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News briefs
Hong Kong Jiahe International obtains financing for Java factory
Hong Kong Jiahe International, a wholly-owned subsidiary of the Taiwanese shoe manufacturer Yuqi International, which produces outdoor footwear for customers such as Under Armour, Decathlon and The North Face, has obtained funding to build an $83 million shoe factory in Indonesia, Footwearbiz reported. The loan, provided by a pool of ...
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News briefsSosandar plans to raise £4.5m
Sosandar plans to raise gross proceeds of £4.5 million (€5.6m) by issuing new ordinary shares. The British fashion brand plans the placing of at least 18,181,818 new ordinary shares via an accelerated bookbuild at a price of 22 pence (€0.25) per share in order to raise minimum gross proceeds of ...
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News briefs
JD Sports unveils plans for sales growth, rapid store expansion
JD Sports Fashion has revealed plans to grow revenues and margins by double digits over the next five years alongside a rapid store expansion, The plan also includes capital expenditure of £500-600 million (€560-673m) a year, with 50-60 percent of the spend focused on store expansion in underpenetrated markets. This ...
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News briefs
JD Sports leaves South Korea but plans major expansion in U.S. and Europe
JD Sports Fashion is leaving South Korea after five years in the market, according to multiple press sources. The decision has reportedly been made in connection with the negative impact of the Covid-19 pandemic. The British sporting goods retailer operated in South Korea through a partnership with Shoemarker, and opened ...
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ArticleGo Sport France and Kookaï go into receivership
Go Sport France and Kookaï have been placed into receivership as some French retailers continue to suffer from the impact of the Covid-19 pandemic and competition from online businesses. Meanwhile, Pimkie is expected to be sold soon with the loss of about 500 jobs. On Feb. 2, 2022, a Grenoble-based ...
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News briefs
JD Sports is the target of a cyber attack
JD Sports Fashion said that it has been the target of a cyber incident which resulted in the unauthorized access to a system that contained customer data relating to some online orders placed between November 2018 and October 2020. The affected JD Sports group brands are JD, Size?, Millets, Blacks, ...
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News briefs
Foot Locker to wind down Sidestep
Nine-and-a-half years after acquiring the sports fashion footwear chain as part of its deal for the Recklinghausen, Germany-based Runners Point Group, Foot Locker has decided to shutter Sidestep’s operation that currently consists of several dozen stores across Germany, Austria, the Netherlands, and Switzerland. In February 2019, Foot Locker operated 80 ...
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ArticleZenden plans to expand its Russian retail network in 2023
Russia’s main shoe retailer Zenden announced plans to add 50 doors to its store network in 2023, taking advantage of the gaps in the market left by the withdrawal of Western brands. Currently, Zenden runs 250 brick-and-mortar stores in Russia, located primarily in the largest cities of the European part ...
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News briefs
Shloop to open a production site in Mississippi
Shloop, a startup footwear manufacturer, is opening a manufacturing facility in Meridian, in the U.S. state of Mississipi. The $9 million investment is due to create 56 jobs. The footwear factory is located in a 32,000 square foot building dating back to the 1930s and started as a bakery. The ...
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News briefs
Tod’s strengthens production footprint with new Tuscan factory
Tod’s is moving forward with the construction of a new factory in the municipality of Pontassieve, which is located in an important district for the production of leather goods near Florence in Italy’s Tuscany region. The Italian financial daily Il Sole 24 Ore estimates Tod’s will invest about €15 million ...
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ArticleShoe retailer Schuh-Oase files for bankruptcy
The German footwear retailer Schuh-Oase has filed for bankruptcy, the latest of many shoe companies caught in a wave of insolvencies that has been gathering pace in Europe’s biggest economy. The coronavirus pandemic led to a significant drop in sales over the past two years and took its toll ...
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ArticleC-Suite interview: NeroGiardini aims to double in three years its sales from the Covid-19 trough
After three difficult years, that led to a significant reduction in sales, NeroGiardini is focusing on new markets to sell its wholly Italian made footwear. This year the Italian company will be entering the South Korean market.
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News briefs
Go Sport placed into receivership
A Grenoble-based commercial court has placed under controlled administration, or receivership, the French retailer of sporting goods Groupe Go Sport after having established that it was insolvent. The court said that it “has ascertained the insolvency of the company Groupe Go Sport and launched proceedings for receivership.” It noted that ...
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News briefs
Copenhagen, Liebeskind founders to launch a footwear brand
The founders of Liebeskind Berlin and Copenhagen Studios, the brothers Johannes and Julian Rellecke, are about to launch a new footwear label, according to the German trade magazine TextilWirtschaft. After Copenhagen Studios - which became in 2021 part of the s.Oliver Group and is currently expanding into the French ...
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News briefs
Amazon to close 3 U.K. warehouses
Amazon plans to shut down three warehouses in the U.K. as part of a restructuring of its logistics business in the country. The closure of the warehouses located in Hemel Hampstead, Doncaster and Gourock will impact 1,200 jobs, but people will be given the possibility to transfer to other units. ...
