The Organization for Economic Cooperation and Development released a report that said international trade of “fakes” represented 2.5 percent of overall world trade, or $461 billion, in 2013. The report, “Trade in Counterfeit and Pirated Goods: Mapping the Economic Impact,” describes the effect of counterfeiting on a range of industries. “The scope of the phenomenon […]
Italian label Gucci just launched a series of new men’s and women’s pre-fall footwear styles on its e-commerce website, and it features a heap of quirky shoes. Among the standouts include new takes on Gucci’s classic horsebit loafer, as well as new interpretations of its sneaker and heel styles. The women’s collection features new mule […]
Steve Madden reported first quarter revenue and profit in line with guidance. The company reported net income of $20 million, or 33 cents per diluted share, for the period ending March 31. It was less than a percent gain compared to the same year-ago period, when profits were $19.8 million, or 32 cents per diluted […]
Nike has announced that Converse president and CEO Jim Calhoun would leave the company. He will be replaced by Davide Grasso, Nike’s current chief marketing officer. In addition, Michael Spillane, vice president and GM of footwear, has been named president of product and merchandising, replacing Jeanne Jackson, who will work in a new advisory role […]
China’s most valuable internet company, Alibaba, has announced plans to open an office in Australia. Alibaba announced at an event in Hangzhou that it would open an Australian office “later this year”. James Hudson, the chief executive of the NSW branch of the Australia-China Business Council, will join the business. John O’Loghlen, a New Zealand-born […]
A German court has rejected adidas’s petition to stop PUMA from producing its line of NRGY sneakers that rival the Three Stripes’ BOOST shoes. The former filed an injunction for PUMA to stop selling the footwear. PUMA launched its NRGY line back in 2014, after partnering with Huntsman Corp. Before that the brand was working […]
Zalora, the fashion-focused e-commerce site backed by Rocket Internet, is selling its businesses in Thailand and Vietnam to retailer Central Group. The deal is said to be agreed on in principle and currently subject to paperwork and red tape. Central Group is one of the region’s largest retail players with a huge footprint in Thailand […]
The UK has blocked tougher EU trade rules to help the steel industry partly because it could have raised the price of shoes for British shoppers. Sajid Javid, the country’s business secretary, argued the UK opposed scrapping the so-called lesser duty rule as it would have “cost British shoppers dear”, including an extra £130m a […]
UBM, which organizes FN Platform and Magic, plans to beef up its portfolio of events. The company said it will pay $69 million to buy Business Journals Inc., a producer of fashion trade shows in New York and Las Vegas such as Accessories the Show, Moda, Stitch and MRKet. As part of the deal, UBM […]
Boston-based athletic brand New Balance is taking a stand against the Trans-Pacific Partnership. After remaining neutral on the controversial trade deal, the brand announced it was changing its position. In a conversation with Footwear News, the company said fundamentally it was anti-TPP because the deal would be bad for U.S. footwear manufacturing and jobs, as […]
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