Farfetch reports third quarter 2022 loss
The luxury online retailer reported a slight 1,9% increase in revenue and a 4.9% decrease in GMV (gross merchandise value) in the third quarter of 2022 compared to the same period last year, reflecting a decrease in activity on the trading platform and downgrades its financial guidance for the year, writes Worldfootwear.com
In the third quarter of the current fiscal year, Farfetch's (GMV) gross merchandise value reached $967,4 million, a 4,9% decrease compared to the same period in 2021, but excluding currency fluctuations, GMV would have grown by 4,2% on an annualized basis.
The GMV of the online retailer's Digital Platform decreased by 5% to $787,4 million in the reporting period compared to the same quarter last year, excluding currency fluctuations, it would have increased by 2,6% year on year.
Farfetch emphasizes that these results reflect the impact of the suspension of trade in Russia, where the retailer ceased trading in March 2022, and the ongoing lockdown in mainland China, as well as a decrease in the average check on the marketplace.
In the third quarter of 2022, the company's adjusted EBITDA decreased $9,4 million to $4,1 million, and its adjusted EBITDA margin decreased from 1,1% to minus 0,8% in the quarter compared to the same period a year earlier, largely "due to higher growth in general and administrative expenses".
It also reported a loss of $274,9 million in the third quarter of this year compared to a profit of $769,1 million in the same quarter of 2021.
The luxury online retailer reported a modest 1,9% increase in revenue and a 4.9% decline in GMV (Gross Merchandise Value) in the third quarter of 2022 compared to…
Gigi Hadid Appears in Boss Campaign
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Kotofey is going to open about 40 new stores in 2023
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Prada unveils new chunky models at Milan Fashion Week
Of all the Prada pieces the Italian luxury brand showcased for the fall-winter 2023 season at Milan Men's Fashion Week, the brand's chunky shoes generated the most fans, which is understandable.
Less than three months left to relabel shoes
Participants in the turnover of footwear products should relabel shoes with a simplified code before April 1, 2023, after which it will be impossible to sell unsold balances. Such footwear will be equated to unmarked. By March 1, 2023, the number of such commodity residues should be determined, described in full attributive composition and re-labeled.
AIDINI has created a new line of shoes. Presentation at Euro Shoes
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GERCHEK is a new brand on Euro Shoes from Turkmenistan
The footwear business under the GERCHEK brand began its development in 2015 in Turkmenistan and, in just a few years, the company managed to increase its production capacity from 2 to 22 million pairs of shoes per year
Soon the New Year and Euro Shoes@CPM!
Together with the new year 2023, the main event of the Russian fashion market is approaching - the 31st international exhibition of shoes and accessories Euro Shoes premiere collection.
RICONTE will present a new "space" collection at the Euro Shoes exhibition in Moscow
The promising Russian brand RICONTE has been offering its customers highly profitable, high-quality, comfortable and fashionable shoes made of genuine leather and nubuck for the 4th season. The new Fall-Winter 23/24 Milky Way collection is inspired by advances in space technology. With the development of scientific and technological progress, the flight of fantasy of RICONTE fashion designers is becoming ever larger. Brand designers use metallic sheen, futuristic shapes, interesting textures and shades. Space motifs can be traced in geometric 3D prints.
CAPRICE brand will present a new collection autumn/winter 2023/2024 at Euro Shoes
In the rhythm of the big cityThe nobility and elegance inherent in the philosophy of the CAPRICE brand offer us a special bright appeal in the new collection - with a strong character inspired by nature itself.
The European brand BLACKSTONE invites you to the presentation of the collection from January 30 to February 03, 2023
Last year, a number of global fashion brands such as Nike, adidas, Vans and The North Face suspended their work in Russia, while the European footwear brand BLACKSTONE remained on the Russian market and steadily holds its position, having proven itself to be of high quality, authentic design and great fit.
Innovative comfort and unsurpassed quality: the Scholl brand in SOHO Fashion at Euro Shoes
An overly active lifestyle sometimes forces us to compromise between practicality, convenience and style. The premium brand Scholl, with many years of experience in the production of shoes, has not only been able to achieve considerable heights, but also set the bar for the entire professional community, maintaining the highest level of quality and constant striving for innovation, meeting the needs of modern society. The uniqueness of the brand is a win-win combination that combines comfort and care for the health of the feet with beauty and an accurate hit on the current trends of the season.
Factory S-Tep "Shoes of Russia" can avoid bankruptcy
The S-Tep shoe factory, part of the OR Group (formerly Obuv Rossii), is negotiating a peace agreement with its key creditor, ChOP Brest Plus, and thus can avoid bankruptcy, TASS reports.
Nike launches online virtual sneaker store
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7 pairs of dutikov boots for the city and country walks
Half boots - dutiks - a chance not to change the dynamic urban sports style in the Russian winter, when even insulated sneakers cannot save you from snow porridge, snowdrifts and ice. At the same time, you can not refuse the still popular over size in clothes, choosing bright positive colors that contrast well with the main colors of the landscape - white, gray and black. The model of short soft boots is present in the winter collections of a huge number of brands represented in Russia. The Shoes-Report review contains 7 attractive dutik models, the main advantages of which are informal style and convenience.
Raf Simons is closing his own brand
Belgian designer Raf Simons, who gave the fashion world the iconic Ozweego sneaker he co-designed with adidas, is shutting down his own brand after 27 years. The spring collection of Raf Simons will be the latest line of the brand.
MM6 Maison Margiela and Salomon have released their own version of trekking shoes
Belgian-based fashion brand MM6 Maison Margiela and French athletic shoe brand Salomon have launched a collaborative sneaker collection for the fall/winter 2023 season.
Obuv Rossii goes bankrupt
Creditors of the former Obuv Rossii Group of Companies, LLC OR, demand that the company be declared bankrupt. The company owes about 5 billion rubles to creditors and counterparties, writes NGS.ru.
Largest duty-free shopping complex opens on Hainan Island
In China, on the island of Hainan in the city of Haikou, the world's largest duty-free shop has opened. The complex was built by China Duty Free Group (CDFG) and is located on the west coast of Haikou, next to Xinhai Port, a major transportation hub, and has a total building area of 280 square meters, writes Worldfootwear.com
The Federal Tax Service wants to recover almost 1,5 billion rubles in tax deductions and fines from Ralf Ringer
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Farfetch reports third quarter 2022 loss
The luxury online retailer reported a slight 1,9% increase in revenue and a 4.9% decrease in GMV (gross merchandise value) in the third quarter of 2022 compared to the same period last year, reflecting a decrease in activity on the trading platform and downgrades its financial guidance for the year, writes Worldfootwear.com
Geox chose soft colors and natural materials for the spring-summer 2023 collection
The Italian brand Geox has revealed the details of the collection of women's shoes for the spring-summer 2023 season. The main colors are delicate shades of olive, powder and cream gray. And the main models were “chubby” platform sandals, loafers, espadrilles and Spherica sneakers with thick soles in the style of retro running sneakers.
New Russian shoe brands: AFOUR
The St. Petersburg brand of tailor-made sneakers AFOUR does not really fit the definition of “new”, next year the brand turns 15 years old, and we have repeatedly written about the bright collaborations of the brand in our news. And yet, AFOUR is at the beginning of its journey, because the production and service concept, which was developed by the founder of the brand Vladimir Grigoriev, is new, original and has good prospects in its own way. Shoes Report interviewed Vladimir Grigoriev during Fashion Week in Moscow, where AFOUR sneakers were presented on the market and were a success.
Italian shoe industry turns to government for help
Anti-Russian sanctions hit hard on shoe manufacturers in Italy. Italian manufacturers are struggling with high inventory levels. Assocalzaturifici renews its appeal to the Italian government for help.
How the buyer makes a purchase decision and psychological methods to influence it
In one of his previous articles, Evgeny Danchev, a permanent expert and author of our magazine, spoke about the psychological profile of a sales assistant. It was about the effective selection of applicants for the vacancy of a sales assistant. Not every employee can master the skill of active sales, since its development requires the right internal psychological attitudes. In this article, Evgeny Danchev analyzes the psychological portraits of both the buyer and the seller, since the head of a retail store needs to clearly understand what connection exists between the psychology of sales and the financial results of the store. The overall global retail trend is now towards more personalization. Against the backdrop of falling customer traffic, the seller is required to find individual access keys to each of the customers.
New Russian shoe brands: Mark Levillen
The Moscow Fashion Week, which took place this summer in the capital, gave a chance to get acquainted with new footwear brands born and developing in Russia. The markets of the Week presented incredibly feminine, one might say, handmade artisanal shoes by the St. Petersburg brand Mark Levillen. The brand was created by a married couple Lena and Dima Lozhkin. Their mules, the top of which is decorated with delicate leather flowers, already have a whole army of fans in different cities of the country and even beyond its borders. However, a number of attempts to repeat the success, which were made, including by Chinese manufacturers with Ali Express, failed, because the manual labor of a real artist cannot be repeated. Shoes Report spoke with Mark Levillen brand founder Lena Lozhkina.
Sustainability in the footwear segment. Where are we now, what are the main trends?
The EU is moving towards a climate neutral and circular economy, which means that any product today must be more energy efficient, durable, reusable, repairable and recyclable. The fashion and textile industries, known to have a big impact on the environment, are at the forefront of change and sustainability. Innovative materials created from materials recycled and recycled in the future, new technologies in traditional leather industries, collaborations with environmental experts, and most importantly, complete transparency of the entire chain - these are the main vectors for the development of the shoe industry today. Let's look at the best practices of market leaders in order to understand what steps are possible in order to start in this direction. Understanding sustainability trends with expert Olga Steinberg.
EURO SHOES and CPM February 21-24 at the Expocentre on Krasnaya Presnya
The international wholesale exhibition of footwear, bags and accessories Euro Shoes premiere collection has existed for 14 years, and this year for the first time the 27th session of the professional footwear exhibition will be held in the pavilions of the largest metropolitan exhibition complex - Expocentre. Winter exhibition EURO SHOES is held in partnership with the international exhibition of fashionable clothes and accessories CPM.
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The French shoe brand Mephisto is preparing to present a new collection of shoes for men and women for the autumn-winter'22/23 season at the international exhibition of shoes and accessories Euro Shoes premiere collection, which will be held in Moscow from February 21 to 24 at Expocentre. Buyers will be presented with the iconic men's Rainbow boots, Mobils orthopedic shoes, elegant women's ankle boots with small heels, trendy Chelsea and moccasins, as well as light and stylish sneakers from the new Allrounder by Mephisto line.
5 trendy bags of Italian brands for this spring
The fashion market in Russia froze, realizing the new economic reality, but despite the fact that we have to say goodbye to some brands, the offer of shoes and accessories in our retail is still diverse, and our consumer still appreciates Italian design and Italian quality. Shoes Report presented in the review five trendy bags of Italian brands for the spring-summer 2022 season, which can now be purchased in Russian retail and online stores.
World Footwear Yearbook: Russian footwear market statistics for 2020
The analytical bulletin of APICCAPS, the Portuguese Association of Manufacturers of Footwear Components and Leather Products, World Footwear Yearbook has published a report on the Russian footwear market at the time of 2020. Despite the fact that many major changes are currently taking place in the economy of our country, the analytics remain relevant, Shoes Report provides the bulk of the material presented on the Worldfootwear.com website.
Shoe educational program: what shoe soles are made of
“What is the difference between TEP and EVA? What does tunit promise me? Is PVC glue? What is the sole of these shoes made of? ”- the modern buyer wants to know everything. In order not to smash his face in front of him and be able to explain whether such a sole suits him in soles, carefully read this article. In it, process engineer Igor Okorokov tells what materials the soles of shoes are made of and what makes each of them so good.
How to set prices that will earn
Some businessmen still confuse the concept of margin with the concept of trade margins and set prices for their goods, guided solely by the example of competitors. No wonder they go broke! Analyst at the Academy of Retail Technologies Maxim Gorshkov gives several tips and formulas with which you can set not only ruinous, but also profitable prices.
Sales of shoes and accessories: effective techniques for business rhetoric
Which speech modules are effective in communicating with potential and current customers of shoe stores, and which are not, Anna Bocharova, a business consultant, knows.
We form the salary of sellers: expert advice
“How do you charge your consultants for personal or general sales?” Is one of the most popular questions causing a lot of controversy and gossip on the online forums of retail business owners. Indeed, how to properly form the earnings of sellers? But what about bonuses, where to get a sales plan from, do employees allow them to buy goods at discounted stores? In search of truth, the Shoes Report turned to a dozen shoe retailers, but no company wanted to disclose its motivation system - the process of its development was too complicated and individual. Then we asked four business consultants, and finally became convinced that the topic of seller motivation is very complex, because even our experts could not come to a common opinion.
Fur, and not only: types of lining
In the production of winter footwear, various materials are used that are designed to retain heat and meet the requirements of consumers: natural sheepleather, artificial fur, artificial fur from natural wool and others. All types of lining fur have their own advantages and disadvantages. Let's consider the properties of each of them.
The whole truth about Bayer. Who is he and how to become one?
Bayer is no longer a new, but still a popular and sought-after profession. It’s fashionable to be a buyer. Buyers are at the origins of the emergence and development of trends. If the designer offers his vision of fashion in the season, then the buyer selects the most interesting commercial ideas. It is on buyers that the policy of sales of stores and what, in the end, the buyer will wear depends on. This profession is surrounded by a magical fleur, often associated with a lack of understanding of what exactly is the work of a buyer.
Retail Arithmetic
Before you begin to solve specific problems, you need to find out how accurately all the leaders of your company understand the basic terminology of retail.
The best models of Czech shoes of the past
In Soviet times, for shoes from Czechoslovakia sold under the Cebo brand, customers stood in line for four hours and did not regret it, because Czech shoes were considered to be of high quality, comfortable and fashionable. Shoe designer Juraj Shushka shared a photo archive of his collection with Shoes Report magazine, which contains the most interesting Cebo models from the 1940's to the 1980's.
How to fire a worker without tears, scandal and trial
Sooner or later, any manager is faced with the need to part with an employee. Properly and on time the dismissal procedure will save the company money, and the boss himself - nerves and time. But why sometimes, knowing that a break in relations is inevitable, we put off the decision for months?
Ecommerce Laws Every Seller Should Know
The sale of goods via the Internet is becoming increasingly popular and in demand, however, at the same time, difficulties arise regarding issues of legal regulation of trade through the Internet, work with delivery and returns, and maintaining cash registers. Ivan Kurguzov, Executive Director of Oborot.ru, told how to avoid possible mistakes and how to legally conduct trade through the Internet.
