All Corporate articles – Page 21
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News briefs
Legero United opens biggest store at its new headquarters in Austria
Legero United, the Austrian-based footwear group that markets brands such as Legero, Superfit, Vios and Think, has opened its biggest store at its headquarters in Feldkirchen, Graz. The company opened the Legero United Campus at the beginning of this year, investing about €30 million. About 350 employees have moved into ...
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News briefs
Leomil to take over European license for Lee Cooper brand
Leomil, the Dutch shoe company that belongs to the Cortina Group, has taken over the European footwear license for the Lee Cooper brand. Leomil will develop its first shoe collections for women, men and children for the spring/summer 2021 season, presenting them in June. The licensing deal Leomil has signed ...
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News briefs
Baboos is insolvent
Baboos, the Dutch-based shoe brand specializing in extra-large men’s and women’s shoes, has gone bankrupt. A local court in the Gelderland province of the Netherlands made the declaration on May 26. According to Baboos, it delivered its products to about 60 shoe retailers in the Netherlands, seven in Belgium and ...
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ArticleWGSN sees three major consumer groups emerging from the crisis
The coronavirus pandemic has accelerated societal changes and is forcing industries worldwide to adapt to the resulting changes in consumption. Thus, WGSN has set out to predict what consumers will be looking for in the next couple of years.
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News briefs
Vida Shoes laying off staff, cutting wages
U.S. footwear group Vida Shoes International is laying off staff and temporarily cutting salaries of employees as the Covid-19 crisis makes cost-cutting measures necessary. Vida did not reveal how many workers would be affected by the measures. The company said its restructuring would also involve an intensified focus on its ...
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ArticleFerragamo calls back Michele Norsa as deputy chairman
Salvatore Ferragamo reformed its corporate governance and appointed its former chief executive Michele Norsa, 71, as executive deputy chairman, rekindling speculation of a possible change of ownership.
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Article
La Halle receives 7 offers for 60% of its business
La Halle, the big French low-cost clothing, footwear and accessories retailer owned by Vivarte, will have to be sold piecemeal, while more time is being granted by a court to find a buyer for André, the more high-end shoe retailer, which is currently in bankruptcy proceedings.
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Article
Clarks reshuffles its staff
Clarks has decided to eliminate a further 900-odd jobs around the world as part of a strategy to build a more “sustainable and successful” future for the company, placing its focus on the changing consumer needs. The new wave of layoffs follows 170 cuts already implemented at the end of ...
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News briefs
CCC’s chairman sells some of his shares
Dariusz Milek, founder and chairman of CCC Shoes & Bags, has reduced the stake he holds in the international Polish-based shoe retailing company indirectly through Ultro Holding of Luxembourg and a subsidiary. He now owns 24.84 percent of the ordinary and preferred shares in CCC, leaving him with 34.98 percent ...
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News briefs
Paraboot returns to full capacity
Paraboot, the French manufacturer of high-end footwear, has returned to full capacity production from May 4 at its factory in Saint-Jean-de-Moirans. The site closed down following the outbreak of Covid-19 in France but resumed partial manufacturing on April 6 and gradually increased production. The facility has an annual capacity of ...
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Article
J.C. Penney files for bankruptcy protection
Founded in 1902, J.C. Penney has filed for bankruptcy protection in the wake of the Covid-19 pandemic, following Neiman Marcus and J.Crew.
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News briefs
Boohoo raises £197.7 million as it prepares itself for acquisitions
The U.K. online fashion retailer boohoo is building up a warchest to finance takeover opportunities that are expected to arise in the coming months in the wake the Covid-19 pandemic. The company already has its sights set on potential targets. Boohoo has raised gross proceeds of £197.7 million (€221.5m-$239.5m) through ...
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Article
Aldo Group files for bankruptcy protection to restructure
Montreal-based Aldo Group has filed for bankruptcy protection in Canada and in the U.S. as it prepares to restructure and stabilize its business after turnaround plans for its already loss-making business were derailed by the Covid-19 pandemic.
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Article
Rohde plans e-commerce platform this year
The German shoemaker Rohde intends to launch a business-to-business (B2B) online platform this summer, followed by a business-to-consumer (B2C) site.
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Article
Prada resumes production in Italy
Prada has launched a gradual reopening in Italy of its prototyping and sample-making departments, which are essential for developing its forthcoming footwear, leathergoods and apparel collections. It is also introducing serological testing of all employees.
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Article
Boohoo hikes cash pile while Farfetch continues to burn cash
boohoo is building up its cash pile thanks to its highly cash-generative business model and is ready to go on an acquisition campaign. Meanwhile, Farfetch continues to burn cash.
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News briefs
Prada scraps dividend payment
Like many other companies, Prada has decided to drop its full-year dividend to retain financial resources in the light of the crisis caused by the Covid-19 pandemic. It said that the decision will give it access to ”further resources to rapidly go back to its previous activity levels in the ...
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Article
Caleres, Shoe Carnival boost credit lines
Caleres and Shoe Carnival expanded existing credit lines to ensure liquidity while stores remain closed during the Covid-19 pandemic.Shoe Carnival also eased the covenant on its credit agreement.
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News briefs
Wolverine changes its brand structure
By May 30 at the latest, Todd Spaletto will be stepping down as president of Wolverine Worldwide’s Michigan Brands group, which consists of the Merrell, Chaco, CAT Footwear, Hush Puppies and Sebago brands. Rather than replace him in the post, Wolverine is promoting three executives and dividing responsibility for its ...
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Article
Spain, Portugal to benefit from accelerated reshoring
The novel coronavirus Covid-19 pandemic could lead to an acceleration in the reshoring of manufacturing to Europe. Alicia Garcia-Herrera, senior fellow at the European think tank Bruegel, said in an interview with Exame magazine that the shift could be significant for countries such as Spain and Portugal. The move out ...
