Clarks is cutting 900 jobs as the loss-making British retailer grapples with the growth of online shoe shopping as well as the financial strain of coronavirus-related store closures. The 195-year-old British brand, which employs nearly 10,000 people, said it was cutting nearly 1,000 head office staff as part of a turnaround plan. Giorgio Presca, Clarks […]
According to a study of the impact of Covid-19 on the footwear industry conducted by Confindustria Moda with the participation of 88 Assocalzaturifici (Italian Footwear Association) member companies, concluded that in the first quarter of 2020 Italian footwear companies registered an average drop in sales of -38.4%, with total losses estimated at 1.7 billion euros. […]
The Milano-held trade fair announced the coming edition to be held at the Rho trade fair centre from the 20th to the 23rd September as an opportunity for the industry to get restarted after Covid-19. The fair organisers announced the new image for next September’s edition and said it hopes the event can “provide both […]
Casa Everz Gmbh, the owner of footwear German brand Von Wellx, will be shifting its entire production to Agra from China, news agency ANI has reported quoting state Minister for Micro, Small and Medium Enterprises (MSMEs) Uday Bahan Singh. “We are very happy to see that investment from Casa Everz Gmbh, which will be giving employment to […]
Saying the coronavirus pandemic had put “too much pressure” on its business and cash flows, footwear retail chain Aldo last week filed for bankruptcy protection in its home country Canada. “ALDO is one of the world’s leading fashion footwear and accessory brands with a solid track record of growth and profitability for almost half a […]
As companies are severely stung by the impact of the Covid-19 pandemic, luggage giant Samsonite is closing more than 100 outlets in India, according to a major daily. There are about 475 franchisee-operated outlets of Samsonite, American Tourister and House of Samsonite in the country. The 100-plus stores being shut are owned by its largest […]
In what could become the new normal for retailers, apparel and footwear retailers, which witnessed a business slump since India imposed strict lockdown measures on 25 March, opened a few stores this week with limited staff and contactless payment options. Footwear retailer Bata India Ltd opened 180 of its over 1,400 stores. It has created […]
Union minister Nitin Gadkari has said micro, small and medium enterprises (MSME) sector is on the verge of collapse and urged major industries to release the outstanding dues to such companies within a month. He said the position of MSMEs was worst as they were now engaged in a battle for their survival. The minister […]
Union Minister for MSME and Road Transport and Highway Nitin Gadkari assured the footwear industry that all possible support from the government will be given to the sector to tide over the challenges created by the lockdown imposed to curb the spread of Covid-19. In an interaction with the representatives of Confederation of Indian Footwear […]
The footwear sector’s performance in FY2021 is likely to be significantly affected due to the Covid-19 pandemic, according to ICRA. Closure of retail outlets coupled with weak consumer sentiment due to the ongoing lockdown is likely to impact the footwear industry which is expected to witness a 10-15 per cent decline in revenues in the […]
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