US Treasury Secretary sees de-escalation in trade war with China
During a private summit with investors hosted by JPMorgan Chase held in Washington, the US Treasury Secretary Scott Bessent said he expects “there will be a de-escalation” in the trade war with China in the “very near future,” CNBC reported citing a person attending the meeting.
Arc’teryx sets up a footwear business unit
Arc’teryx Equipment has announced the creation of a standalone footwear business unit to accelerate its presence in the high-performance mountain footwear category. The move comes on the heels of a strong Spring 2025 product launch, including the Norvan LD 4 and Vertex Speed trail models, and signals the brand’s deepened ...
Hoka opens its first store in Vietnam
Hoka has opened its first store in Vietnam.
Gyrus Capital takes over ACBC
Gyrus Capital, a Geneva-based investment firm is buying a majority stake in ACBC, an Italian firm specializing in product innovation and sustainable, circular solutions for the fashion and lifestyle industries.
Chinese exports to US face up to 245% tariff
Chinese goods exported to the US face an up to 245 percent tariff as a result of the Asian country’s ”retaliatory actions,” according to a fact sheet released by the US administration.
BasicNet appoints 2 new CEOs
BasicNet, the Italian parent company of K-Way, Kappa, Robe di Kappa, Superga and Sebago, has appointed Lorenzo Boglione and Alessandro Boglione as co-Chief Executive Officers, replacing Federico Trono.
Shein and Temu to hike US prices
The Chinese fast fashion giants Shein and Temu have warned US shoppers of upcoming price hikes starting April 25 due to steep new tariffs imposed by the administration of US President Donald Trump.
Hermès plans to hike prices in the US due to tariffs
Hermès plans to increase prices in the US to fully compensate for the 10 percent tariff on most imported introduced by the administration of US President Donald Trump.
C-Suite interview: Rohde expects to continue growing in 2025
After increasing revenues by 4.5 percent in 2024 to €24.2 million, Rohde expects to continue growing this year as it expands its fledgling US and online businesses.
Deutsche Umwelthilfe sues Deichmann for alleged greenwashing
The German environmental and consumer protection association Deutsche Umwelthilfe (DUH) has filed an injunction against the German shoe retailer Deichmann, along with other companies, for allegedly misleading advertising regarding environmental benefits.
LVMH’s sales slip in Q1
LVMH’s fashion and leather goods division posted revenues of €10.108 billion in the first quarter of 2025, down by a reported 4 percent year-over-year and down by 5 percent organically.
Deichmann’s Chief Marketing Officer Sabine Zantis leaves
Deichmann’s Chief Marketing Officer Sabine Zantis has left the German footwear retailer.
Castañer’s sales slow down in 2024
Castañer posted a 2.6 percent increase in revenues to €30.8 million in 2024, a slowdown from the 25.3 percent jump posted in 2023.
AstorMueller sets up a joint venture in India
AstorMueller has set up a joint venture in India called Nuvora as the Swiss footwear group aims to make the fast-growing Asian country one of its main markets.
Brazilian shoemakers have mixed feelings about US tariffs
Brazilian shoemakers have mixed feelings about the impact of newly introduced US trade tariffs as they are seen as both an opportunity and a threat to the South American country.
Aldo in license agreement with G.H.Bass
Aldo Product Services (APS), a division of the Canadian footwear group Aldo, has entered an exclusive seven-year licensing agreement with G-III Apparel Group regarding the G.H.Bass brand.
UK footfall declines on Easter timing
In March, footfall in British stores dropped by 5.4 percent year-over-year, reflecting a different timing for Easter, which falls on April 20 in 2025 compared with end of March last year, according to the latest survey released by the British Retail Confederation and Sensormartic.
China hikes tariffs on US goods to 125%
China has raised tariffs of goods imported from the US to 125 percent from a previous 84 percent, according to a statement from the State Council Tariff Commission released on the website of the Ministry of Finance.
Prada buys Versace from Capri
Capri Holdings Limited has entered into a definitive agreement to sell Versace to Prada SpA for $1.375 billion (€1.25bn) on a debt and cash free basis.
US postpones reciprocal tariffs for 90 days except for China
On April 9, the US administration postponed for 90 days the application of so-called reciprocal tariffs to a string of countries. However, the waiver does not concern Chinese goods, for whom the US has increased reciprocal import duties to 125 percent. When added to an already existing 20 percent levy, ...
