Highlights
Germany Retail: dark clouds are hanging again over the footwear sector
The positive signs on the horizon for the footwear retail sector reported in the previous Flash were short-lived. Sales in the first half of the year were not what retailers had hoped for, and the continued stabilisation of shoe prices shows no signs of turning the situation around. Against a negative macroeconomic backdrop, consumer confidence has been downward, and retailers face many challenges, including business closures and labour market instability. Footwear imports have started to fall, pointing to a possible crisis in the sector
Premium ContentAuthentic and Saks Global to form a strategic venture
The joint venture Authentic Luxury Group will serve as an incubator for luxury brands, driving global growth with new strategies for licensing, retail and lifestyle expansions across multiple industries