Corporate/Finance: Page 20
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Steve Madden revenue drops again in Q2
The trendy fashion firm’s long-term growth strategy includes more DTC business and expanded offerings in handbags and apparel.
By Lara Ewen • Aug. 3, 2023 -
American Eagle Outfitters COO to exit
Michael Rempell is leaving the retailer after 23 years in a planned leadership transition. Meanwhile, the company raised its Q2 forecast.
By Kaarin Vembar • Aug. 3, 2023 -
Trendline
Top 5 stories from Fashion Dive
Fashion faced its share of shakeups in the first half of 2024, but few industries are more adept at reinvention or more suited to change.
By Fashion Dive staff -
Vans, Dickies struggles drag VF Corp revenue down 8% in Q1
The company says the drop was due to ongoing wholesale issues and continuing challenges with its Vans brand.
By Lara Ewen • Aug. 2, 2023 -
Columbia names new president of prAna brand, adjusts full year guidance
Tricia Shumavon is stepping into the role in September after stints at Adidas, Nike and Gap. The move is part of Columbia’s plan to reposition the prAna brand for growth.
By Laurel Deppen • Aug. 2, 2023 -
Skechers logs record sales again in Q2 despite wholesale challenges
Executives pointed to strong performance of direct-to-consumer sales, particularly at retail locations.
By Laurel Deppen • July 28, 2023 -
Kering appoints new CFO amid modest H1 earnings
Sales at the luxury house lag behind rival firms, though a new partnership with Mayhoola may help reinvigorate the company.
By Lara Ewen • July 28, 2023 -
Richemont acquires controlling stake in Gianvito Rossi
The deal is not expected to have a material financial impact on Richemont’s assets or operating results for its current fiscal year.
By Laurel Deppen • July 28, 2023 -
Kering acquires 30% stake in Valentino
The deal includes an option for Kering to acquire 100% of the Italian luxury house by the end of 2028.
By Laurel Deppen • July 27, 2023 -
Fashion companies net $40B in retail sales from licenses: report
Authentic Brands Group was among the highest earners in the category.
By Laurel Deppen • July 27, 2023 -
Authentic Brands Group acquires Rockport out of bankruptcy
The brand conglomerate sees an opportunity to expand the footwear company's assortment into a "full lifestyle offering."
By Nate Delesline III • July 27, 2023 -
Prada profits jump 62% in H1
The increase was partly a result of strong retail net sales for Prada brand products and Miu Miu sales.
By Lara Ewen • July 27, 2023 -
Gap Inc. turns to Mattel operations chief Richard Dickson as CEO
The toy maker's longtime executive was instrumental in reinvigorating Barbie and other signature brands. Can he pull it off again?
By Daphne Howland • July 26, 2023 -
LVMH revenue up 15% for the first half of 2023
Its fashion and leather group reported revenue growth of 20%, although operating cash flow was halved due to real estate and operational investments.
By Lara Ewen • July 26, 2023 -
Adidas raises guidance after successful Yeezy drop
The first sale of leftover inventory slashed 250 million euros from its projected operating loss, and further drops could help even more.
By Cara Salpini • July 25, 2023 -
Luxury house Julien Macdonald goes into liquidation
The Welsh fashion brand has worked with Chanel, Givenchy and British Airways, but the pandemic led to unrecoverable losses.
By Lara Ewen • July 25, 2023 -
AG Jeans taps fashion industry veteran for new CEO role
Glenn McMahon will be the California-based company’s first CEO in its 20-plus year history and will report to AG owner and founder Yul Ku.
By Lara Ewen • July 24, 2023 -
Deep Dive
Yeezy was only part of Adidas’ problems. The athleticwear brand has been falling further behind Nike for years.
Since 2013, Adidas’ net sales have grown by less than $5 billion as it struggles to keep pace with the broader market. Could a new CEO and a clean slate reverse those trends?
By Cara Salpini • July 24, 2023 -
True Religion’s new chief marketing officer will lead the brand’s digital pivot
Kristen D’Arcy, formerly of Pacsun and American Eagle Outfitters, said she expects e-commerce to represent 50% of the brand’s revenue in a few years.
By Lara Ewen • July 19, 2023 -
Gucci president and CEO Marco Bizzarri steps down
Jean-François Palus, Kering Group’s managing director, has been appointed to the role for a transitional period.
By Lara Ewen • July 18, 2023 -
Express chief merchandising officer exits
Malissa Akay has left the apparel retailer effective immediately, according to a Friday regulatory filing.
By Nate Delesline III • July 18, 2023 -
Tom Ford Fashion appoints new CEO
Lelio Gavazza was tapped to take on the newly-created role and will report directly to Ermenegildo Zegna, chairman and CEO of Zegna Group.
By Lara Ewen • July 18, 2023 -
Richemont sales up 14%, with Asia leading the rebound
Shares fell after news that sales in the Americas dropped 2% as a result of weak wholesale and retail numbers.
By Lara Ewen • July 17, 2023 -
David’s Bridal reportedly will keep nearly 200 stores open under new ownership
The chain has been seeking a buyer since before its April bankruptcy filing. An offer from Cion Investment Corp was approved.
By Daphne Howland • July 17, 2023 -
Designers sue Shein for copyright infringement under racketeering laws
The RICO statute could help plaintiffs wrestle with the e-commerce giant’s unusual corporate structure and production strategy, experts say.
By Daphne Howland • July 14, 2023 -
Rag & Bone co-founder Marcus Wainwright steps down
Creative duties will be handed over to Jennie McCormick for womenswear, footwear and accessories, with Kyle Sweeney leading menswear and merchandising.
By Lara Ewen • July 14, 2023