VF Corp confirmed their decision to suspend purchasing Brazilian leather. In fact, as previously disclosed by Fernando Bello, CICB executive president, the US holding company, which is in control over a few brands, such as Timberland and Wrangler, has been demanding guarantees from suppliers about their product environmental sustainability. The statement As reported by Reuters […]
Last May, over 170 footwear players sent a letter to US President Donald Trump. Yesterday, over 200 companies signed one more letter to ask President Trump to remove 15% customs duty, which will enter into force on September 1, applied on a few footwear product categories made in China. Likewise, they also urged the White […]
Bangladeshi tanneries, meanwhile accused by their suppliers of running into big current debts, will soon benefit from an additional billionaire fund, allocated by Bangladesh government. In fact, last Tuesday they launched 17 new actions to revamp domestic trade of hides and leather products: the government is going to allocate five billion dollars, from present until […]
President Jair Bolsonaro himself had to make an announcement to remove all doubt. He posted his comment on Twitter: “Export (of leather, editor’s note) keeps working regularly”. Nevertheless, a real media storm has been hitting Brazil’s leather tanning industry. In fact, Folha de Sao Paulo first made public the news about 18 brands (most of […]
Another high-profile acquisition on Italian leather. Investment fund NB Renaissance Partners has purchased the majority of Trissino-based Rino Mastrotto Group. There had been chatter for a while, which has been confirmed now, just a few weeks after confirmation that Tuscan tannery Samanta was bought by French group Chanel. The operation After months spent negotiating terms […]
CHANEL can’t stop making purchases. After the acquisition of Tuscan tannery Samanta, which took place this past July, the French luxury brand has allegedly closed another buyout. In this instance, Chanel has put its sight – according to local news sources – on the French tannery Degermann. French story Degermann is a company founded in the XVI […]
This is the type of news that makes a lot of noise. Lanxess sold its business unit tied to the production of chromium to Chinese company Brother Entersprises. The announcement was made by the German company that produces chemicals, on August 12th, even though the proper go ahead will be given once the anti-trust authority […]
France’s leather industry looks to the future. It does so with Cuir Invest. The fund is managed by Paris-based Société Internationale du Cuir (SIC SA), in collaboration with Auriga Partners. Budget: between 100,000 and 500,000 euro. The mission: to invest in startups focused on the world of leather. Note: French startups, but also those of other countries. How many and how The […]
The ban is no longer temporary for Kazahkstan’s export of raw hides. The Asian country’s government is working to make the ban definitive, while the law until now, since January 2018, had to be renewed every six months. Duration: 5 years. Objective: to encourage, read local newspapers, local operators to increment internal production. Conclusion: not […]
The two large Brazilian meat producers are in good health. JBS and Marfrig both had very positive performances in the second quarter of 2019: both sales and profits taking flight, to push revenue up. JBS’s record JBS closed the 2nd quarter of the year with a record-high EBITDA: about 1.25 billion USD. Net sales, that […]
Climate, biodiversity, oceans. These are the three objectives chosen by the 32 signees of the Fashion Pact, the joint agreement and action plan that will lead fashion towards sustainability (the official full document can be downloaded here). The document, presented during the Biarritz’s G7 meeting (August 24th-26th), was crafted mainly by François-Henry Pinault, Kering’s CEO, […]
First things first, a warning, because this is a pretty long piece. So, make yourself comfortable before starting to read it. Second, the reason why this text is so articulate, is that between the end of July and the first half of August, while we were closed, many brands published their semester’s financial results. In...
The event, with its well-established identity, aims to provide its community members with a steadily upgrading experience, not only from a business point of view. Two months ahead of its opening, scheduled at Fieramilano Rho, on October 2-4, Lineapelle, on its 97th edition, proves to be a work-in-progress event full of topics and innovations. These […]
In the first six months of 2019, Kering managed to counterbalance Gucci slowdown, as the group’s blockbuster brand went up less than expected; China and leather goods have been driving business expansion. Meanwhile, Armani closed 2018 financial statements by reaching 2.1 billion euros, in terms of revenues, and 152 million euros, in terms of profits. […]
Luxury aboard is always a matter of leather. FCA are fully aware of it, since they launched, a few days ago, the Fiat 500 Dolcevita, a new model to celebrate, together with Frau, the twelfth anniversary of the city car. Likewise, Volkswagen top managers well know it as well: aiming to celebrate one million Touareg...
After launching a new production cycle, they caused environmental impact to slump remarkably. Scottish Leather Group, one of the most important players in the leather industry in the United Kingdom, succeeded in reducing their environmental effects considerably, as they dropped by 85%. Results As reported by leatherbiz.com, Scottish Leather Group worked out and monitored the […]
The Moroccan government is committed to the leather supply chain. First it has announced an industrial cluster in the Fez area as part of an investment program also in favour of traditional companies in the Kingdom. Then they launched a campaign to avoid the waste of tanning raw hides during the Feast of the Sacrifice, […]
A traceable and sustainable industry for breeding and slaughtering crocodiles and ostriches is feasible. Such is the plan of the Exotic Leather South Africa project, launched in 2013 and carried out thanks to financial support granted by local government, in collaboration with the University of Pretoria. The project (implemented in a playground where top groups […]
Louis Vuitton and Dior help LVMH go beyond the semester’s 25-billion euro line (for the first time). An amazing result strengthened by operating income beyond 5 billion. To be noted: 5 years ago, during the first semester of the year, the French group had only sold goods for 14 billion. But LVMH isn’t the only luxury brand performing […]
In the quarter going from April to June 2019, Hermès’ sales increased by 14,7% in yearly base (+12,3% at constant rates), for a revenue of 1,67 billion euro. The French luxury brand beat, with this performance, Bloomberg’s expectations, which was expecting revenue for 1,65 billion. The segment “Leather Goods – Saddlery”, which is comprised of […]
