News
CCC: revenue down by 21%, but e-commerce is getting strong
The CCC Group ended the second quarter with revenue of nearly 290 million euros, 21% lower than a year ago. The decrease in revenue was the result of pandemic and temporary store closures. E-commerce generated almost half of revenue in the quarter
Mandatory footwear labeling is introduced in Russia
After several delays and despite the continuing complaints by market operators, Russian authorities have introduced a mandatory labelling of footwear on the domestic market. This is effective since the 1st of July and applies to domestic and imported footwear
JCPenney to close 152 stores and cut 1 000 jobs
The US-based retailer is becoming a smaller operator as it goes through a bankruptcy restructuring. JCPenney plans to lay off about 1 000 employees as it shuts down more than 150 stores
Nike, Zara and adidas are the most valuable fashion brands
The BrandZ top 100 ranking of the world’s most valuable brands, released by WPP and Kantar, listed the Germany-based brand as number one brand in the apparel category. Nike is followed by European-based brands Zara and adidas
Burberry’s sales down by 45% in first quarter
Comparable sales of the Britain-based luxury brand declined by 45% in the first quarter, easing to -20% in June. Growth in Mainland China and Korea in June was ahead of pre Covid-19 levels, with sales of full-price leather goods up strongly in these regions
RTW Retailwinds voluntarily files Chapter 11 Bankruptcy
As a result, the retailer expects to close a significant portion of its brick-and-mortar stores. Company expects to fully repay approximately 12.7 million US dollars in remaining loan outstanding
ACLE 2020 rescheduled to 2021
In face of the unprecedented global COVID-19 pandemic, the organisers of All China Leather Exhibition (ACLE), APLF and the China Leather Industry Association (CLIA) have decided to postpone the 2020 event for next year
Richemont: quarter sales down by 47%
During the quarter under review, the group’s trading and operations were strongly impacted by Covid-19 and sales contracted significantly across all regions, channels and business areas, notwithstanding a 49% increase in China
More changes at Mulberry are underway
Last month, Mulberry announced plans to cut a quarter of its global workforce. Now, the British brand specialized in luxury handbags, should be about to close the offices in Paris and Hong Kong
The Covid Storm: From Difficulties to Relaunch
Expo Riva Schuh and Gardabags is kicking off with the first talk in the #PLAYfashion series, the latest digital initiative aimed at strengthening the relationship between the exhibition and its community
AAFA claims lack of trade credit insurance could hinder economy restart
A new report by economists Dr. Robert Litan and Dr. Yong Xu highlights the need for a government-sponsored backstop to support trade credit insurance (TCI) to ensure a safe recovery from the economic fallout caused by the COVID-19 crisis
Is your company aware of the importance of Certification?
In a global scenario of rapid and permanent evolution, the positive impact that Standards can have in supporting growth, competitiveness and innovation, irrespective of the nature or size of the organisation, is unavoidable
Indian leather sector: exports hit by COVID-19 suffers decline
Exports of the leather sector have been severely affected so far this financial year due to the COVID-19 pandemic, Aqeel Ahmed Panaruna, Chairman of the Council for Leather Exports stated
JD Sports Fashion: reports 3% rise in profit, but predicts uncertain footfall
The sportswear retailer says pace in stores should remain uncertain but believes to be well placed to regain its pre-pandemic momentum after reporting a 3% rise in annual profit
AAFA calls for national guidance on face masks
In a letter sent to President Donald J. Trump, the American Apparel & Footwear Association (AAFA) requested that the administration institute federal face mask guidelines to assist retail stores as the country continues efforts to reopen
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