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Crocs appoints Terence Reilly as EVP and president of Heydude brand

Crocs, Inc. has announced the appointment of Terence Reilly as incoming executive vice president and president for the Heydude brand. Reilly will join the executive leadership team on April 29 and will report directly to Andrew Rees, the company’s chief executive officer. The company said in a statement that Reilly, 56, most recently served as...

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Japan’s Spiber secures 65 million dollar funding to scale Brewed Protein

Japanese biotech firm Spiber has announced the completion of a fundraising round through which it raised over 10 billion Japanese yen (64.7 million dollars) to support the mass production of its Brewed Protein material. Developed over 15 years of research, the material utilises the cyclical nature of proteins in a microbial fermentation process...

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Sosandar posts 9 percent increase in full year revenues

Sosandar plc reported revenue of 46.3 million pounds, up 9 percent year-on-year and improved gross margin to 57.6 percent. Sosandar believes that market expectations for the year ended 31 March 2024 are revenue of 46.8 million pounds and PBT of 0.1 million pounds. Post year-end, the company said in a release that April trading has been strong...

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George at Asda welcomes ‘soaring growth’ in fashion sales

Supermarket giant Asda has said that its clothing brand George welcomed “soaring growth” in both online and in-store fashion sales over the latest six-month period. According to the retailer with reference to a report by Kantar, George at Asda had significantly outperformed the market, with online sales up 13.4 percent over the 24 weeks to March...

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Balmain appoints former Givenchy exec as CEO

Luxury house Balmain has named Matteo Sgarbossa as its new chief executive officer, a post he will take up from May 6. Sgarbossa will be joining the brand from Givenchy, where he is currently serving as an international director and executive committee member. He will succeed Jean-Jacques Guével, who had announced his intention to step down from...

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Tapestry and Capri merger gains EU and Japan antitrust approval

The planned merger between luxury powerhouses Tapestry and Capri Holdings has been approved by market regulators in both Japan and the European Union, bringing the duo one step closer to their goal. In a regulatory filing, Tapestry confirmed the news that the merger plan had been cleared by the European Commission under the EU Merger Regulation...

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Shoe Zone CEO Anthony Smith steps down from PLC board

Shoe Zone has announced that the company’s CEO Anthony Smith is stepping down from the PLC board to increase his focus on the day to day running of the business. Smith will remain as a director of Shoe Zone's operating subsidiary, Shoe Zone Retail Limited. Smith started at Shoe Zone in 1993, joining the board in 1996 as retail director before...

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Dr. Martens names new CEO, projects challenging FY25

Dr. Martens expects its FY24 results to be in line with guidance with direct to consumer (DTC) achieving high single-digit growth in the fourth quarter, compared with a 3 percent decline in the previous quarter as a result of good growth across EMEA, a flat outcome in the USA and a very strong result in APAC, led by Japan. However, for FY25, the...

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Digital Brands Group manages to reduce full year loss

Full year revenues at Digital Brands Group increased 6.8 percent to 14.9 million dollars excluding revenue from Harper & Jones. Gross margin increased 10.2 percent to 6.5 million dollars and gross profit margins increased to 43.9 percent. Net loss per share reduced to 10.2 million dollars or 20.46 dollars per share. "Despite lower revenue...

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Douglas Group reduces net debt, Q2 sales up 11.5 percent

Omni-channel beauty retailer Douglas Group has secured a new refinancing of 1.3 billion euros. Following its listing on the Frankfurt Stock Exchange at the end of March, the company had used the proceeds and a capital injection to partially prepay an existing facilities agreement amounting to 675 million euros. With the fresh financing, the...

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Thai fashion group acquires German landmark store KaDeWe

Berlin's renowned KaDeWe department store has changed hands, with Thai conglomerate Central Group, also the owner of Selfridges, taking over ownership from the insolvent Austrian company Signa. Central Group, which has been actively acquiring European luxury stores, including Italy's Rinascente, Ireland's Brown Thomas, and Denmark's Illum,...

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Sephora names Xia Ding as managing director of Greater China

Beauty retailer Sephora has appointed Xia Ding as the managing director of Greater China. Based in Shanghai, Ding will directly report to Asia president, Alia Gogi. Prior to Sephora, she spent five years as vice president & general manager of e-commerce Asia Pacific and Latin America at Nike. Commenting on Ding’s appointment, Gogi said in a...