China
Trump administration announces 90-day duty payment delay
The announcement was well received but the footwear industry associations claim an extension to all goods, as any products facing punitive tariffs imposed by the administration in its trade war with China are excluded
Andrew Tam appointed as CFO of Stella International
Don Lee is retiring as CFO and will become a consultant to the Group. Andrew Tam will take on the position from April 2020 onwards
Hermès: one China store with 2.7 million US dollars sales in one day
WWD is reporting that Hermès China's second-largest Guangzhou flagship has registered 2.7 million US dollars in sales on the reopening day
Tapestry stores continue closed in many locations but China re-opened
Tapestry has extended store closures in North America and Europe for an additional two weeks (through the 24th of April). Stores in China have re-opened
CHIC announces new date and new location
The event initially scheduled for March, and which should take place as normally in Shanghai, will now take place in Shenzhen in July
Puma stores reopen in Wuhan
The giant sporstwear brand has re-opened its store in Wuhan, China, the city where the coronavirus was first reported. The company plans to re-open its five other stores in the greater Wuhan region by mid-April
Skechers with record annual sales in 2019
The American-based lifestyle and performance footwear company announced record fourth quarter sales of 1.33 billion US dollars and record annual sales of 5.22 billion US dollars in 2019
adidas commercial activity in China falls 85% due to coronavirus
The German-based sporting goods firm announced that its commercial activity in the Greater China region has decreased by about 85% since the Chinese New Year
Tod's closes the year with 2.6% decline in sales
The luxury shoes and leather goods company announced declining sales for 2019 (-2.6%). However, the business started to pick up in the last quarter with an improvement in the revenue trend
International trade fairs postponed as a consequent of the Coronavirus
Chic Shanghai has been postponed. APLF is considering postponing. ISPO Beijing and textile trade fairs in Shanghai also on hold. In Europe, MICAM is proceeding as planned with preparations for the February edition
Nike extends deal with Chinese Athletics Association
The giant sportswear brand and the Chinese Athletics Association (CAA) signed a long-term partnership extension through 2033
US and China sign new deal
Representatives from the two countries have signed an agreement aimed at easing a trade war that has disturbed the global markets and is impacting the global economy. However, many fear this won't stop the tensions
US-China trade deal reached
The US announced an agreement on a "phase one" trade deal with China on Friday, 13th of December
adidas is moving automated factories to China
The Germany-based sportswear brand will close Ansbach and Atlanta Speedfactories. The aim is to deploy the Speedfactory technology at Asian suppliers by end of 2019
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