Retailers this quarter have announced aggressive actions to manage inventory excesses that have accumulated in the last few quarters. In some cases, companies are cancelling orders to prevent any further build-up in stores and warehouses. As consumers pivot to mainly non-discretionary categories, big-box and department store retailers have seen excesses in discretionary categories like apparel. […]
During their time working together at Nike, Brian Lockard and John Eberle catered to the needs of elite athletes. With their new venture, Bala Footwear, the industry veterans are applying that same mentality to healthcare. The two founded Bala Footwear in 2019, a brand with a mission to create solutions without compromise for healthcare professionals. Lockard, […]
Cos is expanding into wholesale for the first time in its 15-year history. On Thursday, the H&M Group-owned fashion brand announced it would team up with Nordstrom in the U.S., Breuninger in Germany and Yoox online globally for the fall ’22 selling season. The company said in a statement that this expansion marks the next […]
Tapestry Inc. ended the fiscal year with record revenues fueled by gains across its portfolio, with each brand delivering double-digit sales increases. The New York-based company reported on Thursday that its net sales for the fiscal fourth quarter of 2022 were $1.62 billion, an increase of 1% over last year. Compared to pre-pandemic 2019, Tapestry grew 7%. […]
Foot Locker Inc. CEO Dick Johnson will retire from his role, the company announced today. His departure will be effective Sept. 1. Former executive chair and CEO of Ulta Beauty Mary Dillon will come on board as the company’s new CEO. Johnson will serve as executive chairman of the board through Jan. 31, 2023, after which […]
As the U.S. economy suffers, layoffs and hiring freezes are ripping through various industries. Just last week, the U.S. economy retracted for the second quarter in a row, sparking recession concerns. In the wake of the downturn, companies across tech, retail, media have announced efforts to restructure their organizations and let employees go to cut […]
Catch all the latest news about footwear industry acquisitions, and licensing and distribution agreements here. Got a deal in the works? Tell us at [email protected]. Aug. 16, 2022: French luxury menswear brand Berluti is expanding its digital footprint in China by launching on Alibaba Group’s Tmall Luxury Pavilion. During the hard launch, Berluti will offer Tmall shoppers exclusive access […]
Coterie is getting a new look. The Informa Markets Fashion-owned women’s contemporary trade show, which first launched in New York in 1986, will be getting a facelift when its next edition kicks off Sept. 18. Over its 40-year history, Coterie has helped brands like Theory, Velvet and Alice & Olivia launch, relaunch, and scale. Now, the show […]
Authentic Brands Group (ABG) is the new owner of London-based fashion brand Ted Baker. As reported, ABG revealed on Tuesday morning that it has signed a deal to purchase the U.K.-based brand for 110 pence a share, or around £211 million (approximately $255 million based on current exchange rate) in total, a price that is […]
On Holding AG reached its highest quarterly net sales in the company’s history in the second quarter of 2022, driven by strong wholesale and direct to consumer growth in North America. Net sales for the Zurich-based athletic company in Q2 increased 66.6% to CHF 291.7 million ($307.2 million, based on current exchange). Net income in […]