All Shoe Intelligence articles in Volume 27, Issue 1+2 – Page 2
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News briefs
Inditex’s sales grow less than expected
In the first nine months to Oct. 30, Inditex’s sales grew by 7.1 percent to €27.4 billion, but missed market expectations. At constant-currency rates, the top line rose by 10.5 percent. In the sole third quarter, the top line came in at €9.4 billion against expectations of €9.5 billion. Gross ...
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ArticleSwiss online retail sales set to hit a new record high
Online retail in Switzerland is set to hit a record high this year, with significant changes in consumer behavior, while Chinese e-commerce players are steadily on the rise. Footwear is following the same trend, according to a survey conducted by the University of St. Gallen among 1,334 people in the ...
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ArticleZalando to take over About You
As part of its plans to create a pan-European e-commerce platform, German online retailer Zalando is acquiring the fashion group About You for €1.1 billion. Volker Bosse, a financial analyst at Baader Helvea Equity Research, noted that from ”a market perspective, it is a bold consolidation step in the ...
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ArticleOnline spending up sharply among young Germans
Young German consumers are spending significantly more online, with influencers shaping their choices more and more, and social shopping likely to remain a key driver of online retail growth, according to a survey conducted by Postbank among 1,000 young people between the ages of 16 and 18. In the ...
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ArticleGenesco more optimistic on outlook as Journeys turnaround gains pace
Genesco raised its sales and earnings guidance for its 2025 fiscal year, as the turnaround of its Journeys division accelerates, offsetting softer demand and a more cautious outlook for its Schuh and Johnston & Murphy businesses. Management now expects group sales for the full year to be flat to down ...
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News briefs
Merrell hires a new Chief Product Officer as it expands into lifestyle
Merrell, the hiking and outdoor footwear brand owned by Wolverine Worldwide, hired Noreen Naroo-Pucci as Chief Product Officer to lead its expansion into the lifestyle segment. “As a global thinker and executive with multi-cultural experience, Naroo-Pucci will apply her skills to Merrell’s expansion as a lifestyle brand. Merrell’s strategic move ...
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ArticleEcco has a new CEO
Ecco’s CEO, Panos Mytaros, has stepped down and been replaced by the group’s Chief Commercial Officer, Thomas Gøgsig. No explanation was given regarding the change at the helm. However, since Russia’s invasion of Ukraine on Feb. 24, 2022, the Danish footwear group has been criticized by the country’s Prime Minister, ...
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News briefs
Primark plans to double its store network in Italy by 2030
Primark plans to invest €150 million in Italy by 2030 in order to double its store network to about 34 to 35 locations. The investment is expected to create some 2,500 jobs. With the opening on Dec. 12 of a store in Pontecagnano Faiano, in the southern province of Salerno, ...
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ArticleCaleres cuts earnings guidance, sees more balanced international growth
Caleres once again cut its sales and earnings guidance for its full fiscal year, after a slump in boot sales made the biggest contribution to disappointing financial results for the third quarter ended Nov. 2. Third-quarter sales fell by 2.8 percent to reach $740.9 million, worse than the company’s guidance ...
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ArticleEmerging designer: CB Made in Italy seeks slow and steady growth
While their store in Via Santo Spirito in Florence may just be a mere 40 square metres (430 square feet), CB Made in Italy is brimming with ideas and plans for the future. The brainchild of Cecilia Bringheli and Sibilla De Vuono, CB Made in Italy offers a limited number ...
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News briefs
ThredUp sells its European business Remix
The US-based resale platform ThredUp has entered into a binding agreement to sell its European business, Remix, in a management buyout led by Florin Filote, the General Manager of Remix. The sale closed simultaneously with the signing of the agreement. Before the closing of the transaction, Remix received a final ...
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ArticleEU and Mercosur conclude free trade agreement talks
After 25 years of negotiations, the European Union and Mercosur countries have concluded talks on a free trade agreement, according to Ursula von der Leyen, the President of the European Commission. ”We have concluded the negotiations for the EU-Mercosur agreement. It marks the beginning of a new story. I now ...
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News briefs
EU-Mercosur free trade deal “in sight”
A free trade agreement between the European Union and Mercosur countries is “in sight” after 25 years of negotiations, according to Ursula von der Leyen, the President of the European Commission. “Touchdown in Latin America. The finish line of the EU-Mercosur agreement is in sight. Let’s work, let’s cross it. ...
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News briefs
Ferragamo expects €70-90m in impairments
Salvatore Ferragamo expects to book between €70 million and €90 million in asset write-downs on its 2024 results due to the slowdown affecting the luxury goods market. The final amount of the write-downs will be defined during an impairment test to be made by March 2025. The impairments will not ...
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ArticleCirql unveils a new biodegradable midsole technology
At ISPO Munich 2024, held from Dec. 3 to 5, Cirql, the subsidiary of OrthoLite, unveiled its latest material innovation: Cirql Zero, an industrially compostable and biodegradable foam designed for midsole components. Alongside its recyclable Cirql rTPU30 midsole, Cirql is providing footwear brands with comprehensive solutions that address the entire ...
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News briefs
Cole Haan enters a distribution deal with HiMaxx in China
Cole Haan entered an exclusive distribution agreement in China with HiMaxx. In conjunction, the Chinese retailer announced a new premium branded division, focused on Cole Haan, under the leadership of co-founder and board member Jason Hou. Established in 1928, Cole Haan is an American lifestyle brand distributed in about 100 ...
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News briefs
Bureau Veritas buys LBS Luxury Brands Services
Bureau Veritas, a French provider of testing, inspection and certification services, bought LBS Luxury Brands Services, which specializes in quality assurance and quality control in the luxury industry. Bureau Veritas noted that the acquisition is in line with its strategy of strengthening its positioning and offering in the luxury and ...
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ArticleOtto Group changes legal status
The German mail order company Otto, owner of the Freemans, About You, Bonprix and Evri businesses, among others, is preparing to change its legal form and streamline its corporate structure as a generational handover gets underway. “In the course of the forthcoming generational change at the helm of the Otto ...
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ArticleGerman companies face unprecedented supply chain challenges
German businesses are bracing for potential disruptions to global trade, with mounting concerns over geopolitical conflicts, bureaucratic hurdles, and the ongoing complexities of navigating relations with key trading partners like the US and China. These were the findings of a survey conducted from Sept. 18 to Oct. 25 by four ...
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