All Shoe Intelligence articles in Volume 26, Issue 9+10 – Page 3
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ArticleUS regulator moves to block Tapestry’s acquisition of Capri
On April 22, the US Federal Trade Commission (FTC) decided to sue to block Tapestry’s $8.5 billion acquisition of Capri Holdings. However, the companies plan to defend their case in court and to complete the transaction by the end of 2024. “If allowed, the deal would eliminate direct head-to-head competition ...
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ArticleGolden Goose’s revenues rise 11% in Q1
Golden Goose said that in the first quarter of 2024 revenues rose by 11 percent year-over-year on a reported basis and by 12 percent at constant exchange rates, while “maintaining strong margins.” Revenues of the direct-to-consumer channel grew by a reported 18 percent and 20 percent at constant exchange rates, ...
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ArticleJD Sports to buy Hibbett for about $1.1bn
JD Sports has entered into a binding agreement to acquire the Nasdaq-listed retailer Hibbett at $87.50 per share in cash. The bid implies an equity value of $1.083 billion (£878 million) and an enterprise value of $1.109 billion (£899 million). JD Sports expects to fund the transaction, and refinance Hibbett’s ...
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News briefs
French footwear sales rise further in March
In March, French footwear retail sales rose by a seasonally and working-day adjusted 2.5 percent month-on-month, according to the Bank of France. In February, sales of footwear increased by 1.6 percent. The reading was revised up from a preliminary 0.9 percent. Overall French retail sales rose by 0.5 percent month-on-month ...
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News briefs
German online footwear sales stabilize in the first quarter
Online clothing sales in Germany fell slightly in the first quarter of 2024, but footwear logged a small increase, a survey from the Federal association of e-commerce and mail order trade, BEVH, showed. While online sales of clothes dropped by 1.2 percent to €3.286 billion in the first quarter ...
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News briefs
Stella sales up nearly 19% in Q1
Stella International reported an 18.9 percent increase in consolidated first-quarter revenues to $338.4 million from $284.6 million a year. Revenues from manufacturing grew by 17.6 percent to $326.3 million. Shipment volume increased by 21.9 percent year-over-year, led by the sports category, to 11.7 million pairs. However, the average selling price ...
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ArticleAustrian footwear retail under pressure but Deichmann enjoys steady growth
The Austrian footwear retail sector has undergone a dramatic transformation in recent years, encountering new challenges amid a profound shift in consumer behavior, a survey from the market research company RegioData showed. Since 2014, the number of stores in the country has dropped by a whopping 23 percent as ...
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News briefs
Agilitas Sports obtains the Lotto license for India, Australia and South Africa
WHP Global announced a long-term license agreement for Lotto giving the Indian company Agilitas Sports the exclusive rights to design, manufacture, promote and distribute the brand in India, Australia and South Africa. Abhishek Ganguly, the co-founder and CEO of Agilitas Sports said “we are excited to launch our first consumer ...
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ArticleThe Platform Group posts strong 2023 sales
German e-commerce company The Platform Group (TPG), the owner of online footwear retailer Schuhe24 and other fashion platforms, reported strong full-year results for 2023, with sales and profits on the rise. The company said in a statement that in the 2023 financial year, gross merchandise value (GMV) increased by 19 ...
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News briefs
Skechers accuses American Exchange Group of alleged patent infringement
Skechers filed a complaint with the US District Court in California accusing American Exchange Group of allegedly infringing on patents related to its “Scalloped Opening” shoe design. According to Skechers, American Exchange Group’s design infringes on nine of its patents. “Based on these novel and unique designs and the proven ...
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ArticleHow an iconic Italian footwear brand went from rags to riches
In just a few years, Valleverde’s turnover has increased more than twenty-fold, surging from €1.5 million in 2015 to €32 million in 2023. Last year, the top line was up by 28 percent compared with 2022. In 2015, Elvio Silvagni took one of the best-known Italian shoe brands out of ...
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News briefs
Giorgio Armani does not rule anything out regarding his succession
The 89-year old Italian fashion designer Giorgio Armani said he “doesn’t rule anything out” when it comes to succession plans for the fashion empire he has built. In an interview with Bloomberg, Armani said that he cannot exclude either a merger with a larger group or an eventual stock market ...
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ArticleAsos’ losses widen but excess stock cuts ahead of target
Asos’ half-year losses widened as the British online fast-fashion retailer continued to deal with competition from its Chinese rival Shein, but it was ahead of target on shifting the mountain of excess stock built up during the Covid-19 pandemic. The company reported an adjusted loss before tax of £120 million ...
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News briefs
CCC Group posts sees 7% sales boost at start of Q1
CCC Group, the Polish footwear and fashion group, said sales in the period running from Feb. 1 to March 31, 2024, increased by 7 percent compared to the year earlier to reach 1.3 billion zloty (€300.5 million). In the same period, which corresponds to the first two months of the ...
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ArticleBlack Yak collaborates with SK, Dongsung for a sustainable trekking shoe
The South Korean companies SK chemicals, Dongsung Chemical and BYN Black Yak jointly announced that they have developed sustainable footwear materials using the naturally-derived material Ecotrion and applied it to Black Yak’s trekking shoes 343 MAX. The shoe was presented on April 18 after a year of collaboration. SK chemicals ...
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News briefs
LVMH’s sales decline in Q1
LVMH’s fashion and leather goods division posted revenues of €10.490 billion in the first quarter of 2024, down by a reported 2 percent year-over-year but up by 2 percent organically. Sales for the whole French luxury-goods conglomerate were down by a reported 2 percent to €20.694 billion, but up ...
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News briefs
US regulator reportedly to vote on blocking Tapestry, Capri merger
The five commissioners of the The Federal Trade Commission (FTC) are scheduled to meet next week to vote on whether to file a lawsuit to block Tapestry’s $8.5 billion takeover of Capri Holdings, The New York Times reported, citing two sources familiar with the matter. The newspaper noted that the ...
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ArticleCirql launches a fully recyclable midsole made from 30% recycled TPU
The US-based insole specialist OrthoLite, the company behind Cirql, a provider of sustainable material solutions for the global footwear industry, has launched a new midsole foam called Cirql rTPU30. According to Cirql, the patented innovation consists of 30 percent recycled thermoplastic polyurethane (TPU) material and is manufactured through a chemical-free, ...
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ArticleCrocs names a new head for Heydude
Crocs has appointed Terence Reilly as the executive vice president and president for Heydude, as the brand expands its retail business and its European presence. Reilly will join the group’s executive leadership team on April 29 and will report directly to Andrew Rees, the chief executive officer of Crocs, Inc. ...
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ArticleDr. Martens shares get a kicking as CEO quits after fifth profits warning
Dr. Martens’ shares slumped by more than a third to record lows and trading in the stock was briefly suspended in London as the UK bootmaker said that its chief executive, Kenny Wilson, would step down after issuing a fifth profit warning in three years amid continuing woes in its ...
