While spotlighting the trend, we may talk, to begin with, about a spin involving Gucci and Bottega Veneta, that is, two fashion brands of Kering group. The former has been, for a long while, a top performer, with regard to earnings, and the flagship brand for high-end trend, though contaminated by casual style: now its...
Covid turned Burberry’s year upside down. During the brand’s last fiscal quarter (January-March 2020) the British brand’s sales decreased by 27%, effectively cancelling out the +4% performance it had had during the previous 9 months (April – December 2019). Overall, preliminary results show that the brand’s sales performance dropped 4% for the year (at constant […]
It was already a known fact that the brand’s accounts were not in balance: while having a 1.1 billion dollars turnover, the debt framework amounts to 600 million dollars. But now that the virus is overwhelming Brooks Brothers, the US fashion brand is in the eye of the hurricane. As WWD reports, the company announced […]
Such certification actually refers to the new ICEC TS422 Technical Specifications about the management of Covid-19 emergency in the leather industry companies (tanneries, to begin with, but also contractors, manufacturers and chemicals). Incas, based in Castelfranco di Sotto, is the first Italian tannery receiving this certification. The first Italian tannery The aim of the procedure […]
They have allocated a fund to help and support needy people. Pasubio tannery have donated 300,000 euros to the Municipality of Arzignano, where the tannery is headquartered. A gesture of solidarity in favour of their fellow citizens, deeply hit by Covid-19 outbreak. Pasubio tannery donate 300,000 euros The leather-tanning company, based in the province of […]
Despite Covid-19, Vietnamese footwear have achieved a very good performance in 2020 first quarter. Yet, they now fear a downturn in orders coming from the United States. Therefore, they are focusing on the whole of their American clients. According to data provided by the Hanoi Times, in 2019, Vietnam’s footwear exports amounted to 18.3 billion US […]
Pepita tune up cars by using leather. The small-sized Hungarian company, which specializes in modifying standard cars to make them more eye-catching, has recently launched on the market an alternative model compared to classic Volkswagen Typ 181. A torpedo car, military inspired, newly set and directed at the most sophisticated buyers. On top of that, […]
Trick or toy? Experts and researchers, who specialize in studying finds of the Roman age, keep wondering about it. They are flabbergasted about a small leather object, which has become known out of an archaeological treasure chest. They discovered it in Vindolanda, an ancient Roman fort situated to the South of Hadrian’s Wall. Trick or […]
Distressed retail. The list of troubled US chains is getting longer. Now JC Penney too is filing for Chapter 11. The company filed for credit protection with the Federal Bankruptcy Court in the southern district of Texas. It is the third large sign, shortly after Neiman Marcus and J. Crew. JC Penney asks for Chapter […]
Covid-19 has nothing to do with the increase in prices, CHANEL assures. Instead, it does a little. The news that the luxury brand is preparing to retouch the Chinese price lists surprised everyone. Starting with the consumers of the People’s Republic, hurried to shop before the adjustments of price tags. But from the upper floors […]
The NBA changes supplier for its balls, but does not give up on leather. The American professional basketball league has decided that Spalding will no longer produce the official ball from next season. The contract goes to Wilson. But the league itself specifies that the new supplier will present balls with the same characteristics and […]
Lissoirs, tools used for the tanning process, can be obtained from animal bones. Neanderthals were able to manufacture such tools. But now we know that they used different tools, based on needs. For this specific process, they chose to utilized bovine ribs. In a study published on May 8th by Nature magazine, we found that […]
Maison des Métiers du Cuir dribbles the forced closure caused by Covid-19 with a particular initiative on social media. Objective: to set up a collective virtual collection. By June 30, leather enthusiasts and followers of the French museum were invited to send photos of objects or documents they owned that symbolise leather, along with a […]
Investments and suspicions regarding the Nigerian leather supply chain. The authorities of the African country signed a public-private partnership agreement for the development of a textile factory and a shoe factory in the city of Aba, and of a tannery in the state of Kano. In the meantime, however, pollution problems persist. Following the discovery […]
The company is going to reduce the number of accessories, available for sale, in order to contain outstanding stocks. Besides that, they will enhance and develop the online channel. Yet, most of all, Diego Della Valle calls for “much prudence”. At the end of 2020 first quarter, Tod’s Group revenues have dropped by 30%. They […]
The last quarter of the year has eventually downscaled the financial statements of the whole business year, 2019/2020, ended on last March 31st. According to Richemont estimates, the pandemic impact is going to cause the brand to lose, in terms of sales, 800 million euros. On top of that, 450 million euros as to EBIT […]
In 2020 first term, Aeffe lost a quarter of their overall revenues and, in addition, profitability collapsed. As regards net profits, they slumped from 11.8 million euros down to 4,000 euros. Footwear and leather goods have been going “slightly better”, so to speak, than apparel. Shoes and bags “slightly better” Aeffe own Moschino, Alberta Ferretti, […]
CRV strikes Picard. The leather goods manufacturer has recently submitted, before the District Court of Offenbach, a petition for creditors’ protection. In other words, they have filed for a composition with creditors (that is the name of the same procedure in Italy). The company, headquartered in Obertshausen, has made such decision owing to a shortage […]
No more attacks on Solofra’s tanning district. UNIC – Italian Tanners published an official statement to get into the debate that began at the start of Phase 2, on May 4th, with the phrases of Virginia La Mura, congressperson of Movimento 5 Stelle. UNIC decided to raise its voice to defend tanneries that aren’t just […]
If a company wants to stay alive during the pandemic it must sell in China. Europe is, right now, the threat. It is a fact that, many stores around the world will no longer be profitable due to the lack of Asian tourists. Chinese consumers, not being able to travel, will focus their spending power […]
