News
Germany Retail: After some successful months, retail took a massive hit by the end of 2020
After the initial hit back in the first months of 2020, the impact of the pandemic in German retail sales seemed to be manageable for most of the year. However, in the last two months of 2020 the plot of the story changed, and with strength. As in other geographies, the bad news for the offline channels has been accompanied by good news for the online. Will this be enough? Most people believe it will not. The good news seems to come from the confidence indicators: consumer pessimism seems to be fading away. And retailers seem to follow. Will confidence beat COVID-19?
The return of the fashion weeks and Pitti Uomo
Following the decision of the Italian government to authorize international events and fashion shows in physical format, the Italian fashion authorities confirmed their upcoming editions. London, Milan and Paris fashion weeks return in June, as does the physical edition of Pitti Uomo
The Netherlands: retail turnover up by 6%
According to the Statistics Netherlands (CBS), the Dutch retail sector recorded 5.9% year-on-year turnover growth in March 2021. Turnover in the non-food sector was up slightly, while the food sector suffered turnover losses
Steve Madden: revenue up by 0.5%
The New York-based designer and marketer of fashion-forward footwear, accessories and apparel for women, men and children, announced financial results for the first quarter ended on the 31st of March 2021. Revenue increased by 0.5%
Allbirds exploring IPO
The San Francisco-based casual footwear and sneaker maker, is in the process of interviewing banks in preparation for an initial public offering (IPO)
VF is selling the occupational portion of its work segment
A global player of branded lifestyle apparel, footwear and accessories, VF Corporation, announced that it has entered into a definitive agreement to sell the occupational portion of its work segment to a subsidiary of Redwood Capital Investments, LLC, an holding company
Tapestry appoints Scott A. Roe CFO and Head of Strategy
The New York-based house of modern luxury accessories and lifestyle brands, announced Scott A. Roe will be the new CFO, effective from the 1st of June 2021 onwards. Mr. Roe will have responsibility for all finance functions as well as leading the Company’s Strategy and Consumer Insights teams
Stella: shipment volume and revenue improve from low base in 2020
In a business update provided to the market, Stella confirmed the Group’s unaudited consolidated revenue increased by 15.3% to approximately 303.4 million US dollar, compared to approximately 263.2 million US dollar for the corresponding period in 2020
Crocs reports record revenue and raises 2021 guidance
Revenue of the company famous for its clogs in the first three months of the fiscal year totalled 460.1 million US dollars, an increase of 63.6% from similar period last year. The company took the opportunity to raise its guidance for the full year
Argentina applies labelling standards for all footwear entering the country
The Government of Argentina announced the measure will be applicable for companies importing any type of footwear to Argentina. Importers will have to adapt to the new standard called "AR" and which relates to the size of the shoes
Pitti Immagine Uomo: organizers consider holding physical fair in July
According to what is being reported by fashionnetwork.com, the second all-digital edition of the famous menswear fair reported a substantial increase in online traffic. As a result, organizers are considering holding a physical edition in July
Nona Source: online resale platform for materials from LVMH Fashion & Leather Goods Maisons
The French multinational corporation and conglomerate specializing in luxury goods has announced the launch of Nona Source, the first online resale platform for “re-sourcing” materials from the Group’s Fashion & Leather Goods Maisons
Skechers announces record first quarter
The US-based footwear brand posted net profit of 98.6 million US dollars in the first quarter of 2021, an increase of 100.8% compared to the 49.1 million dollars in similar period in the previous year. Record sales registered in the first quarter contributed to this result
Felipe Oliveira Baptista is leaving Kenzo
The Artistic Director of the French luxury fashion house Kenzo will step down from the role on the 30th of June 2021, after two years at the service of the LVMH's brand
Spain Retail: depressed retail and online sales gaining share
The TCF retail Sales Index in Spain is showing some resistance to getting back to the pre-pandemic levels, even if some recovery took place over the second half of 2020. One positive sign seems to come from internet retail, which is gaining share since September 2020. The concern raises as this is being done at the expenses of physical retail. If one needs hope and goods news, those might come from some relative optimism from the consumer side, which might be followed by the retailers. The next few months will be key to see if they persist
Designer Alber Elbaz dies from COVID-19 complications
The designer died on the 24th of April in Paris, at the age of 59. He was most notoriously known for its collaboration with the French brand Lanvin, where he was creative director between 2001 and 2015
How are Italy and Spain reacting to the threat?
The announcement made by the United States Trade Representative (USTR) on the 26th March regarding the next steps in its Section 301 investigations of Digital Service Taxes (DSTs) adopted or under consideration by several US trading partners made the alarm sound for Spain and Italy
Italian and Spanish footwear risk additional taxes in the US market
The Digital Services Taxes (DST) and the reaction of the US with the threat to implement tariffs to products coming from 6 US trading partners are the hot topic at the moment in the footwear industry. Today we look into what that means for Italy and Spain
US consumer confidence rises to one-year high
According to data by the Conference Board, the US consumer confidence reached a one-year high in March, after a modest increase in February. This is the result of more optimism regarding the economy and the labour market
What are the Digital Services Taxes?
Recently, there has been increasing concerns regarding the fact that the existing international tax system is not accommodating the digitization of the economy, as multinationals generally pay corporate income tax where production takes place, and the location of consumers is not taken into the equation
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