World Footwear

Retail

Ferragamo opens NFT booth in Soho's concept store

Jul 4, 2022 / Italy
The space, conceived as a new retail experience and creative hub, includes a hologram sneaker customization tool and an immersive NFT boot that allows customers to create their digital artwork

Germany Retail: war and inflation raise concerns for retail

Premium ContentJul 1, 2022 / World Footwear Reports
Despite the lifting of COVID-19 restrictions in February, the declining trend of the TCF (Textile, Clothing, and Footwear) Retail Sales Index is clear and is aligned with the plunge in consumer confidence. The war in Ukraine and the high inflation are playing a major role in the severe blow inflicted on both consumers’ and retailers’ confidence. Meanwhile, footwear consumer prices have slightly increased in March, and it is foreseeable that companies continue passing on higher costs to consumers in the near future

Shanghai: fashion retailers struggle to clear stock

Jun 30, 2022 / China
Almost a month since Shanghai lifted the strict COVID-19 lockdown, stores are struggling with piles of unsold stock, as wary consumers avoid shopping districts

Zalando cuts outlook as macroeconomic conditions worsen

Jun 24, 2022 / Germany
The online retailer revised its guidance for fiscal 2022 due to the deterioration of macroeconomic conditions over the second quarter. EU consumer confidence index decreased further in June

US: high levels of inventory worry retailers

Jun 23, 2022 / United States
Retailers overestimated consumer demand when making inventory decisions for 2022. Now, they are expecting that holidays and back-to-school shopping will help them ease the pressure

Spain Retail: sales increase in the first quarter despite tricky macro-environment

Premium ContentJun 22, 2022 / World Footwear Reports
Following an abrupt drop in consumers’ confidence in March due to the war in Ukraine, on top of an alarming inflationary climate, Spanish consumers appear to regard the current situation as temporary. In fact, retail sales of clothes and accessories have increased by 19.1% in the entire first quarter of 2022, despite less generous discounts thanks to this year’s cost inflation. Margin protection is certainly at the top of retailers’ agenda now. Meanwhile, the online and physical retail are somehow at a truce

JD Sports doubles profit

Jun 22, 2022 / United Kingdom
The retailer posted a record profit before tax and exceptional items in fiscal 2022, as well as revenue growth of 38%, year-over-year, reaching 8.56 billion British pounds (9.95 billion euros)

UK: online retail growth in freefall in May

Jun 18, 2022 / United Kingdom
The growth of online retail sales fell by 8.7% year-on-year in May in the UK, despite being measured against a negative performance in May 2021 (-6%), as reported by the latest IMRG Capgemini Online Retail Index, which tracks online sales for 200 retailers

ASOS appoints new CEO as it warns on profit

Jun 17, 2022 / United Kingdom
The fashion retailer named José Antonio Ramos to the role of CEO and announced that Jgøren Lindemann will become Chair. The company also said that will be expecting lower profits this year

Argentina: SME retail sales dropped in May

Jun 16, 2022 / Argentina
Retail sales from small and medium businesses fell by 3.4% in May, year-over-year, and by 8.9%, as compared to April. Price and cost increases affected profitability and consumer’s confidence

France Retail: retailers’ confidence sank in the first quarter of 2022

Premium ContentJun 15, 2022 / France
Despite the Eurostat TCF (Textile, Clothing and Footwear) suggesting the return of retail to normalcy, there are red signs undermining not only consumers’ confidence, but also the retailers’ one, who before had displayed some insensitivity towards risks. Surging energy prices, inflationary pressure and the war in Ukraine are overshadowing any boost from an easing of COVID-19 restrictions. The subsequent increase in costs does make us wonder why TCF retail is not in the red yet

Amazon Fashion launches Virtual Try-On For Shoes

Jun 15, 2022 / United States
The interactive mobile experience uses augmented reality to help the customer visualize how a pair of shoes looks from every angle and make better informed purchasing decisions

Europe: fashion brands don't share geographical location with manufacturing

Premium ContentJun 14, 2022 / Europe
When looking into the location of the main brands and manufacturing businesses of the European TCLF industry (Textile, Clothing, Leather and Footwear), one easily concludes about the existence of a dichotomy between brands and production

Farfetch to accept cryptocurrency payments

Jun 14, 2022 / United Kingdom
The luxury e-tailer will enable cryptocurrency payments for private clients on its marketplace in the coming months and then expand to all customers in the US, the UK, and Europe from late 2022

Armando Cabral opens immersive retail space in the US

Jun 13, 2022 / Portugal
The Portuguese model and businessman expanded his brand with an Afro-Centric immersive retail experience in the Rockefeller Centre named ARMANDO CABRAL Mercado
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