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 […]
Net revenues amount to around 8.9 billion euros, therefore increasing by 27.3%. Estimated gross profits amount to 1.15 billion euros: they have risen by +24.6% compared to the same period of 2019. Finally, as regards EBITDA, earnings reached over 600 million euros, therefore growing, +22.6%, compared to last year. While examining the company’s financial results, […]
Slaughterhouses are closed and meat production has dropped by 9.2%. In the meantime, the prices of raw hides have realigned. The pandemic, caused by Coronavirus outbreak, is actually bringing about a number of complicated situations and repercussions on Brazil’s markets. In April 42 meat-manufacturing companies suspended their activity to limit infection rates: consequently, meat production […]
There are those raising prices in Asia. And there are those reducing them. For example, Louis Vuitton has decided to touch up price tags in Korea. Instead, Mulberry, which standardised them all over the world, will reduce them up to 18% in China. A price range that has only one goal: to increase proceeds. But […]
Mulberry announced it will no longer use exotic leather. Brooks Brothers does the same. The news report could end here: two brands, British and US-based, respectively (even though owned by an Italian), add reptiles and ostrich to the list of materials they will no longer use for their collections. But if we were to summarize […]
Church’s, more UK and less Italy, with regards to production. The brand, which had a revenue of 70 million euro in 2019 and runs 62 stores, is owned by the Prada group. The brand seems to be ready to make a nationalistic choice: strengthening production sites in the UK, specifically Northampton, in England, which is […]
They employ a traditional material, which has always been part of human uses. They have characteristics, in terms of quality, breathability, durability, which is difficult (if not impossible) to find in other products. Let us not forget, an example of circular economy and upcycling. In short, we should prefer leather shoes because they are sustainable […]
A new air filter: this is how the German tannery Pro Tannery solves neighbourhood problems. The company from Weida, a city in Thuringia, will soon install a new device to reduce the emission of bad smells. City residents are pointing their fingers at the tannery, complaining about the spread of miasmas. But the heads of […]
Covid-19 claims another victim. Aldo Group, Canadian company that manages about 3,000 stores and employs about 8,000 people all over the world, used the Companies’ Creditors Arrangement Act to protect itself from creditors. It consists of Canadian Act allowing insolvent companies to restructure their debt and commercial activities. Aldo Group is trying to do the […]
