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 […]
Serena Williams is going full speed ahead at the 2022 Canadian Open. Despite recent news that the tennis star would soon be stepping away from the sport, Williams has her eye on the prize. On Monday in Toronto, the Nike athlete defeated Spain’s Nuria Párrizas Díaz in straight sets, 6-3, 6-4, during the tournament’s opening round. This marked Williams’ […]
For FN’s latest cover, G-Eazy led a conversation with Jeff Staple at The Motoring Club in Southern California, a co-working space for car enthusiasts. While the rap superstar and the design icon are widely recognized as diehard sneakerheads, Michael Rapetti, owner of The Motoring Club, is also no slouch when it comes to kicks. As photographer Justin Bettman snapped shots […]
What was once a sport synonymous with the 55-and-older club is now hitting with a younger generation of athletes. And brands are taking notice. In 2021, pickleball grew to 4.8 million players in the U.S., according to the 2022 Sports & Fitness Industry Association. For Fila, which launched into the pickleball category in 2019 with […]