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Footwear Industry

All articles tagged with #footwear industry

business1 year ago

Steve Madden Shifts Production to Dodge Trump Tariffs

Following Donald Trump's presidential win, footwear companies like Under Armour, Wolverine, Steve Madden, and Tapestry are preparing for potential tariff changes, particularly on imports from China. Many have already diversified their supply chains to reduce reliance on China, with some companies like Wolverine and Tapestry having significantly decreased their sourcing from the region. Executives express confidence in managing potential tariff impacts, while some experts anticipate a boost in consumer confidence and holiday spending due to the election outcome.

via Footwear News|
#business#china#footwear-industry
business1 year ago

Steve Madden Shifts Production from China to Dodge Tariffs

Steve Madden, a major shoe company, is rapidly reducing its production in China to avoid potential tariffs proposed by President-elect Donald Trump, which could be as high as 60% on Chinese imports. The company plans to source goods from countries like Cambodia, Vietnam, and Mexico instead. This move is part of a broader strategy to mitigate the impact of tariffs on its business, as the retail industry anticipates significant cost increases due to these tariffs. The shift highlights the challenges faced by US companies reliant on Chinese manufacturing.

via CNN|
#business#china#footwear-industry
business2 years ago

Dr. Martens' Profits Plummet, Raising Concerns for Investors

Dr Martens shares plummeted by over 27% after the British bootmaker issued its fourth profit warning in a year, citing weak demand from US wholesalers and a slower start to the autumn-winter season. The company's wholesale revenue dropped 17% in the first half of the year, primarily due to reduced orders from US customers. Dr Martens expects a decline in revenue for the year ending in March 2024 and anticipates full-year core profit to be below market expectations. However, the company has seen steady demand in the UK, Europe, and the Asia-Pacific region.

via CNN|
#business#consumer-demand#dr-martens
business2 years ago

"Birkenstock's IPO: A Challenging Debut in a Tough Market"

Sandal company Birkenstock is set to list on the New York Stock Exchange next week, but investors and analysts are concerned about its ability to attract new shoppers amid a cost of living crisis. The company needs to sell more clogs and boots and boost sales from its own website and boutiques. The IPO market has been challenging for recent listings, with several companies experiencing share price slumps. Birkenstock, backed by LVMH-affiliated private equity firm L Catterton, has the support of luxury sector heavyweights but faces the challenge of creating desirability for its products in a market where consumers are cutting back on discretionary spending.

via Reuters|
#birkenstock#business#consumer-spending
business2 years ago

The Billion-Dollar Ugly Shoe Trend

The Hoka shoes, known for their chunky and colorful design, have become a billion-dollar sensation in the footwear industry. Deckers Outdoor, the company that owns Hoka, has seen a surge in sales and stock prices thanks to the popularity of the shoes. Despite their unconventional appearance, the Hoka shoes have gained a loyal following among runners and fashion enthusiasts alike.

via The Wall Street Journal|
#business#deckers-outdoor#fashion