News
Wolverine Worldwide reiterates full year outlook
The US-based company posted a first quarter revenue decline in 2023 of 2.5% year-over-year, but delivered earnings slightly above its expectations, thus reiterating its yearly guidance
Resale platform WeTheNew raises 20 million US dollars
The French-based platform specializing in sneakers and streetwear has closed a 20 million euros round of series B funding. This funding will be used to expand the platform's presence abroad
Yue Yuen first quarter revenue decreases
The Hong Kong-based group revealed that its early 2023 revenue has declined due to lower global footwear demand against a backdrop of “relatively high inventory levels” across the industry
Allbirds co-founder Tim Brown takes on a new role in the company
The co-founder and co-CEO of the Californian-based footwear brand has stepped down from his CEO role into Chief Innovation Officer. This move comes amid a round of lay-offs as losses mount
Tod's sales grow by 23%
The Italian-based luxury group posted a 23.2% sales increase in the first quarter of 2023, as compared to the same period of last year, with all its brands posting double-digit revenue growth
Pou Chen to slash further 6 000 jobs in Vietnam
Amid a continuing wave of declining orders, the Taiwanese-based footwear manufacturer, which is one of the largest employers in Ho Chi Minh City, will lay off around 6 000 people
Nordstrom appoints Cathy R. Smith as Chief Financial Officer
Smith joins Nordstrom from Bright Health Group where she has served as Chief Financial and Administrative Officer since 2020. The appointment is effective from the 29th of May onwards
Former parent company of Reno also files for bankruptcy
Unable to overcome the challenges posed by the COVID-19 pandemic and the energy crisis, the German HR group filed for insolvency, following the path of its previously-owned footwear retailer, Reno
Steve Madden starts the year with a mixed performance
The US-based company, which reported a first quarter revenue decline of 17.1% in 2023, year-over-year, reiterated its full year outlook amid a challenging macroeconomic environment
Portuguese artisan represents Portugal at the Milan Design Week
The founder and artisan of ASA Leather Work, Stéphanie Branco, presented her latest creation at Milan Design Week last month, namely the hand-stitched all-purpose backpack “Switch Bag”
Columbia Sportswear earnings decline
The US-based company reported a net sales increase of 8% in the first quarter of 2023, but a net income decrease of 31%, as compared to the same period of last year
Aldo Group signs licencing deal with Ted Baker
Authentic Brands Group (ABG) has signed a long-term licensing agreement with the Aldo Group for handling Ted Baker footwear, handbags and small leather goods business
Prada posts strong first quarter performance
The Italian-based luxury group started 2023 with revenue growth of 22% in the first quarter, year-over-year, driven by the high desirability of both Prada and Miu Miu brands
Hugo Boss raises full year outlook
The German-based fashion group has raised its forecast for the current financial year on the back of strong results recorded in the first quarter of 2023, in which its sales rose by 25% year-on-year
JD Sports set to purchase Groupe Courir
The UK-based retailer announced that it plans to acquire the French Groupe Courir for an enterprise value of 520 million euros as part of the previously outlined growth strategy
Under Armour reports solid fourth quarter
The US-based company posted profits in the fourth quarter of fiscal 2023, on a comparable basis to the same period of fiscal 2022, and delivered full-year revenue and earnings in line with the previous outlook
Chinese luxury retail rebounds
Chinese buyers are spending more on European brands at a time when the country's economy is rebounding following the lifting of COVID-19-related travel restrictions, says Vogue Business
Foot Locker names former Nike executive to lead WSS brand
The US-based retailer has appointed Blanca Gonzalez to the role of Senior Vice President and General Manager of its WSS banner, effective 15th of May
Alpargatas posts a decline in revenue and profits
The Brazilian owner of Havaianas announced that it is looking to increase efficiency after posting a decline in revenue and profits in the first quarter of 2023. The company's CEO has resigned
Farfetch launches Reebok's partnership
The luxury online retailer has commercially launched the previously announced partnership with Reebok to run the brand's European e-commerce sites and its wholesale distribution
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