Companies
Partnership between Richemont and Farfetch receives antitrust clearance
The European Commission (EC) has “unconditionally” approved Farfetch’s acquisition of a 47.5% stake in Yoox Net-a-Porter. The EC was the last regulatory authority required to give authorisation
Ferragamo posts net sales decline
In the first nine months of 2023, the luxury group posted a net sales decline of 8.3% at current exchange rates or 9.2% at constant exchange rates, as compared to the same period of 2022
adidas announces third quarter preliminary results
The German-based sportswear company has raised its guidance for the full year, mainly as a result of the continued positive impact of the sale of the remaining Yeezy inventory
Under Armour names Gap veteran as new Chief Supply Chain Officer
The Baltimore-based sportswear company has named Gap veteran Shawn Curran as its new Chief Supply Chain Officer. He brings over 30 years of experience to the position
Group of 10 countries accounts for 90% of global footwear exports
Footwear exports recorded a notable increase of 9% in 2022, reaching a total of 15.2 billion pairs. The 10 main exporting countries represented almost 90% of the worldwide total
Nordstrom appoints Chief Human Resources Officer
The Seattle-based department store chain has named Lisa Price as Chief Human Resources Officer. She returns to Nordstrom after serving in the same role at Domino’s Pizza since 2019
Spartoo posts an improvement in EBITDA
In the first half of the year, amidst a challenging macroeconomic environment, the French-based retailer reported a decline in GMV and sales, but an improvement in its profitability
Kamik celebrates its 125th anniversary
The Canadian footwear brand is celebrating 125 years of making “quality, timeless footwear” designed to provide comfort and protection in any weather, with the launch of several initiatives
Birkenstock stumbles on its Wall Street debut
The German footwear company’s shares fell by 12.6% in its first session at the New York Stock Exchange on the past Wednesday. The downward trajectory continued on the second day
LVMH’s growth slows in the third quarter
The French-based luxury conglomerate posted an organic revenue growth of 9% in the third quarter, as compared to an organic growth of 17% recorded in the previous quarters of 2023
Timberland appoints new Chief Marketing Officer
The footwear brand, owned by VF Corp, has announced the appointment of Maisie Willoughby as its new Vice President and Chief Marketing Officer, effective from the 16th of October
Spain Retail: the future of footwear retail is clouded for the rest of the year
It’s not all bad news. The downward trend recorded by the TCF deflated retail sales index from April onwards remains above last year’s figures, and consumer confidence is about to reach a positive threshold. However, consumer footwear prices show yet no signs of slowing down, and, above all, imports in the category seem to be declining. These two factors could in fact be a warning of a further deterioration in footwear demand in Spain by the end of the year
The Burberry Foundation announces programme to support young Ukrainians
The foundation set up by the Burberry Group is partnering with the organization Save the Children to launch the Life Chances programme, which aims to support young people affected by the war in Ukraine
Prada appoints Luigi Preziotti as Design Director
The Italian-based luxury group has appointed Luigi Preziotti as Design Director and also confirmed Dario Vitale in his current role as Miu Miu's Design Director
Reno completes partial restructuring
The footwear retailer has finalised a partial restructuring, keeping more than 20 stores. Meanwhile, the media reported that dozens of new creditors have registered their claims in the insolvency proceedings-
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