All Shoe Intelligence articles in Volume 26, Issue 19+20 – Page 5
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ArticleCoats fully derisks its pension scheme, expects higher cash generation
Coats has de-risked its benefit pension scheme by insuring future liabilities. The move is expected to boost the group’s cash generation which can be allotted to hike investments or shareholder remuneration. The British industrial thread and global footwear component manufacturer said that the trustee of the Coats UK Pension Scheme ...
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ArticleSoggy British summer hits second-half sales at Primark
Like‐for‐like sales at Primark were expected to fall by around 0.5 percent year-over-year in the six months to Sept. 14 due to wet weather in the UK and Ireland, driven by a 0.9 percent decline in the final three months compared with 0.2 percent growth in the third quarter. Overall ...
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News briefs
Uli Hauer launches his own shoe brand Uli H.
Ulrich Hauer, a veteran of the footwear industry, is launching his own men’s footwear brand, Uli H., with his company Profectus Brand Construction GmbH, a development, marketing and consultancy firm based in Bad Oeynhausen in the North Rhine-Westphalia region of Germany. The collection, which combines “modernity and coolness, coupled ...
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ArticleAsos sells Topshop and partially refinances its debt
Asos is selling 75 percent of the Topshop group for £135 million (€160m) as part of a deal with the Danish fashion billionaire Anders Holch Povlsen, who owns 28 percent of the troubled British online fashion retailer. Asos, which has faced severe headwinds amid the cost-of-living crisis in the UK ...
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News briefs
German economic growth seen flat in 2024 - Ifo
Germany’s gross domestic product is expected to be flat this year, the German economic research institute Ifo said in its autumn economic forecast, down from a projection of 0.4 percent growth in its previous estimate. German GDP in 2025 is now seen rising by 0.9 percent, down from prior expectations ...
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News briefs
Investors propose to take Nordstrom private
Nordstrom received an offer from members of the Nordstrom family and the Mexican retailer El Puerto de Liverpool (Liverpool) to take the US department store chain private. Nordstrom said that the special committee of its board of directors received a proposal from Erik and Pete Nordstrom, and other members of ...
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News briefs
Tecovas expands into wholesale
Tecovas is partnering with nine retailers to expand for the first time into wholesale. Thanks to the partnerships, the Texas-based boot brand will reach 36 stores in 10 US states. The brand expects that wholesale could represent about a quarter of its sales in the coming years. Until now, the ...
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ArticleShoepassion takes over the luxury shoe platform Mybudapester.com
The Berlin-based footwear company Shoepassion acquired the online luxury shoe retailer Mybudapester.com following the insolvency of Mybudapester.com GmbH. “The acquisition of Mybudapester.com significantly strengthens our portfolio. The platform offers our customers expanded access to exclusive shoe brands, furthering our premium private brand strategy,” said Shoepassion’s Chief Executive Officer, Björn Henning. ...
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News briefs
BASF to end adipic acid, CDon, CPon production at Ludwigshafen site
BASF will end the production of adipic acid, cyclododecanone (CDon) and cyclopentanone (CPon) at the Ludwigshafen site in Germany. The production plant for CDon and CPon will be shut down in the first half of 2025 and adipic acid production will end in the course of next year. The German ...
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News briefs
Sylvia Klemens leaves Waldläufer, goes back to Seibel Group
Sylvia Klemens left the Schwanheim-based shoe manufacturer Lugina at the end of August to rejoin the Seibel Group in Hauenstein, in the Rhineland-Palatinate region. From August 2020, the 55-year-old footwear expert was in charge of development and sales for the Waldläufer brand. Starting mid-September, Klemens will assume the ...
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