All Retail articles – Page 17
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News briefs
Skechers escorts Kanye West out of L.A. corporate building
Slowly but surely, Kanye West should realize that he is no longer welcome due to the antisemitic, racist and hateful remarks he made recently across multiple forums. After the recent contract cancellations with Adidas, Balenciaga, CAA, MRC and Gap, Skechers USA now released a statement in which it reports that ...
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ArticleRussian shoe factories ramp up military production
Several Russian shoe factories have ramped up the production of military boots and other military items, such as berets, in the wake of mass mobilization in the country. Russia invaded Ukraine on Feb. 24 but military setbacks prompted the country’s president, Vladimir Putin, to order a partial mobilization on Sept. ...
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News briefs
Price growth in footwear is slowing down in the U.S.
In September, retail prices for footwear grew by 3.9 percent year-on-year in the U.S., the weakest increase in 18 months, according to Footwear Distributors and Retailers of America (FDRA). Meanwhile, overall inflation reached 8.2 percent in the country. Prices rose by 4.8 percent for women’s shoes, by 3.5 percent for ...
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News briefs
U.K. drops VAT-free shopping scheme
The British Finance Minister, Jeremy Hunt, announced that the government no longer plans to introduce a scheme eliminating value-added tax (VAT) for overseas tourists. Hunt was appointed Finance Minister, or Chancellor of the Exchequer, on Oct. 14, replacing Kwasi Kwarteng. Kwarteng had to step down after only 38 days in ...
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ArticleHow Dirty Harry helped a Spanish shoemaker conquer the world from his garage
Like Steve Jobs, Basilio García Pérez-Aradros started his business in a garage. For seven years, every day from early in the morning until late at night, he worked on his dream that started in the late sixties: that of producing quality shoes with traditional craftsmanship to sell them all over ...
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ArticleRussia shopping centers call for a tax break
The Russian council of shopping centers is calling for immediate assistance from regional governors as the average footfall has dropped by 20 percent in the first nine months of 2022 compared with the same period of the previous year. The association is calling for tax breaks until September 2024. In ...
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ArticleFrasers Group buys Australia’s Sneakerboy out of administration
The British retail chain Frasers Group has bought the collapsed Australian luxury footwear and streetwear retailer Sneakerboy for an undisclosed sum, according to media reports. Frasers, which owns the Sports Direct chain and a wide portfolio of brands, will keep Sneakerboy’s staff and run the business but not take on ...
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ArticleSante + Wade plans to expand to physical stores
Sante + Wade, a premium British women’s footwear brand offering large sizes and fits, is planning to distribute its models in physical stores, with a focus on the U.S. and some large European markets. The company created by Shola Asante and Agnès Cushnie started operating in 2019. The brand, which ...
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ArticleMephisto launches its Nature is Future collection worldwide
At the latest edition of Micam, held from Sept. 18 to 20 in Milan for the presentation of spring/summer 2023 collections, Mephisto started distributing worldwide its sustainable women and men’s sneakers brand Nature is Future by Mephisto. The French company launched the brand a year ago with the spring/summer 2022 ...
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ArticleSan Marina placed into receivership
The French footwear retailer San Marina was placed under controlled administration, or receivership, on Sept. 22 at its request by a Marseille-based commercial court. San Marina employs 673 people in 163 stores in France. The so-called observation period of the receivership is set to last until March 23, 2023, ...
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News briefs
U.K. to introduce VAT-free shopping for foreigners
During the presentation of new budgetary measures, Kwasi Kwarteng, the U.K.’s newly appointed finance minister, officially referred to as the chancellor of the exchequer, said that the government has decided to introduce VAT-free shopping for overseas visitors. “We will replace the old paper-based system with a modern, digital one. And ...
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News briefs
The Russian fashion market has nearly halved
Between February and August of 2022, the sales of shoes, clothes and accessories in Russia plummeted by 40.5 percent against the same period of the previous year, according to Anush Gasparyan, spokesperson for the Moscow-based think tank Fashion Consulting Group. As many as 23 percent of the Russian customers surveyed ...
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ArticleGörtz and Surf4Shoes file for bankruptcy amid uncertainty, soaring inflation
Görtz and Surf4Shoes are among the latest companies caught in a wave of bankruptcies that appears to be gathering pace in Germany. Heightened consumer uncertainty, sky-rocketing inflation and rising energy prices are seen as the main destabilizing factors, as the war in Ukraine rages and the European Union’s sanctions against ...
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ArticleHotter Shoes lifts sales but notes pressure on consumer spending
Hotter Shoes’ owner, Unbound Group, reported higher half-year sales and margins driven by strong demand, despite the tougher economic outlook. Unbound, formerly known as Electra Private Equity, said revenues rose to £27.6 million (€31.60m) from £25.0 million, driven by its multi-channel sales model. It posted a pre-tax loss of £2.14 ...
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News briefs
More than half of German clothing retailers hit by supply issues
Overall German retailers are “very concerned” about the replenishing of their inventories and the situation could continue into the Christmas season, according to a survey carried out by the ifo Institute. In August, on average 77.5 percent of retailers complained about supply problems, up from 77.3 percent in July. Retailers ...
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News briefs
EU plans to ban products made with forced labour
The European Commission has proposed to prohibit products made with forced labour on the European Union market. The proposal covers all products, including those made in the EU for domestic consumption and exports, and imported goods, without targeting specific companies or industries. “This comprehensive approach is important because an estimated ...
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News briefs
BasicNet to open “Basic Village” in Milan
The Italian group BasicNet will open its “Basic Village” in Milan on Sept. 21 during Fashion Week. The 4,500-square meter space will feature offices, showrooms, restaurants, commercial activities and lofts. BasicNet Group is the parent company of the Kappa, K-Way, Sebago and Superga brands. K-Way accounts for 65 to 70 ...
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News briefs
Saucony to boost its retail presence in Spain
Saucony, a brand of Wolverine Worldwide, is planning to open around 20 shop-in-shops at El Corte Inglés’ department stores across Spain between 2022 and 2023, Modaes has reported. Specifically, between ten and twelve units will open in the fourth quarter of 2022, devoted to its Originals product line. Six or ...
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ArticleThe Italian retailers Scarpe&Scarpe and Pittarosso are due to merge
The financial group Pillarstone has taken over Scarpe & Scarpe and is expected to create in the near future a large footwear retailing group in Italy by merging it with Pittarosso. Responsible & Sustainable Corporate Turnaround Fund (RSCT), a turnaround fund managed by Pillarstone Italy, obtained 70 percent of Scarpe ...
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ArticleEcco completes the renovation of its headquarters
Ecco has completed the refurbishment of its headquarters located in Bredebro. The town, situated in southern Denmark, has been the company’s home since its foundation in 1963 by Birte and Karl Toosbuy. The site comprises various corporate functions including finance, supply chain, procurement, information technology, human resources and corporate responsibility. ...
