Stuart Weitzman, Soho Pearl Loafer
Stuart Weitzman to expand sneaker and ballerina categories amid declining sales
Tapestry, owner of Stuart Weitzman footwear brand, reported a decline in shoe brand sales in the fourth quarter. Stuart Weitzman's fourth-quarter net sales fell 4% to $13 million from $62,6 million in the same period last year.
For the full year, the brand's net sales were down 11% to $281,6 million, compared to $317,7 million in 2022.
Tapestry's company-wide net sales for the fourth quarter were $1,62 billion, in line with the same period last year. For the entire fiscal year, Tapestry recorded net sales of $6,66 million, up from $6,68 million in 2022. The numbers come a week after the company closed the deal to acquire Capri.
Analysts note that Stuart Weitzman and Kate Spade, who are part of the Tapestry portfolio, are not showing very good results. And the Coach brand is doing relatively well.
Analysts criticized the Weitzman range: "Despite some interesting collections at the beginning of the year, such as the collaboration with KidSuper, the products were a bit modest and not eye-catching enough."
Stuart Weitzman CEO Joan Crevoisera attributed the weakening brand sales to external factors complicating business in China and North America. She noted that Stuart Weitzman low-cut pumps and ankle boots continue to perform well in line with consumers' transition to casual and office wear. In particular, Crevoiserat noted that the SoHo and Stuart collections of the brand were the best in the fourth quarter.
Going into 2024, the company will focus on driving growth in core and iconic brand categories and adding depth to under-researched categories with high growth potential, she said. We are talking about the launch in the second quarter of 2024 of an expanded range of sneakers and flats.
Tapestry plans to accelerate the brand's growth in China and expects to capitalize in the new fiscal year on the recovery of this "high-margin region", which accounted for almost 40% of Stuart Weitzman's FY2021 sales.
Tapestry, owner of Stuart Weitzman footwear brand, reported a decline in shoe brand sales in the fourth quarter. Stuart Weitzman's fourth-quarter net sales fell 4% to $13 million on...
BRICS + Fashion Summit takes place in Moscow
The international forum BRICS + Fashion Summit is taking place these days in Moscow. As part of the forum, from December 28 to 2, a b2b showroom is operating at the Zaryadye MKZ on the territory of Zaryadye Park, which presents Russian clothing brands,… 01.12.2023 304
McKinsey identifies 10 macro trends in fashion for 2024
The annual report of the global consulting company McKinsey& Company, compiled in collaboration with the Business of Fashion publication “The State of Fashion,” highlighted ten macrotrends that will influence the state of the fashion segment and fashion... 30.11.2023 518
"Honest Sign" recorded a 15% increase in shoe prices in 2023
According to the state labeling system “Honest Sign”, average prices for shoes in Russia increased by 15% over the year: in October 2023, the average price of a pair of shoes was 3 rubles, and in the same period in 274 – 2022... 30.11.2023 430
The first Sportmaster PRO opened in Voronezh
On November 21, the first sporting goods store “Sportmaster PRO” opened in the Voronezh City Park “Grad” shopping center, which became the largest in the Black Earth Region. The retailer rented more than 3 sq. m in a shopping center on the site of the departed... 29.11.2023 417
Testoni has released a festive collection
Italian luxury shoe brand Testoni presented a festive collection. A capsule of women's shoes and accessories inspired by the views of the snow-capped Alps. As the fashion house emphasizes, the holiday collection is “An ode to fashion and luxury in... 29.11.2023 386
Nike has released sneakers for baby's first steps
The American sports brand Nike presented a new product in its children's collection - Nike Swoosh 1 sneakers, designed for babies taking their first steps. The shoe features Nike's signature seamless FlyKnit upper, supported by a lightweight, flex TPU outsole for stability and traction.
The Street Beat network presented a new model of sneakers from its own brand collection
The new Street Beat sports retail collection features the STREETBEAT Cheek High sneakers. The sneaker's look, inspired by retro running shoes, is the result of a collaboration between the Street Beat team and designer Nikanor Jarmin.
Adidas Gazelle sneakers made from hemp
Following on from Adidas' 200-pair mushroom leather sneaker in collaboration with sneaker designer Sean Wotherspoon, comes a new vegan version of the Adidas Gazelle designed by the same designer.
Who will speak at the 7th World Shoe Congress in Istanbul
The World Shoe Congress, which will be held in Istanbul at the Wyndham Grand Istanbul Levent Hotel on November 8 and 9, will address the most pressing topics that concern the development of the footwear industry today. Under the general thematic title “Changing the Future”, congress speakers will discuss new business solutions, sustainable development and circularity, as well as the future of work.
The production of felt boots and their varieties is growing in Russia
According to the “Honest Sign” labeling system, over 9 months of this year more than 670 thousand felt boots were produced in Russia. The increase in production volumes of these shoes in the third quarter of 2023 was 62% compared to the figures for the second quarter of 2023 and amounted to 302 thousand pairs.
Over the nine months of 2023, the volume of online sales in the Russian Federation increased by 23%
The volume of online trading sales in Russia in January-September 2023 increased by 23% compared to the same period last year and amounted to 4,3 trillion rubles, TASS reports citing the press service of the Association of Internet Trade Companies (AKIT).
A new look at Giotto. Interview with the head of the company Vladimir Timofeev
The corner of the Russian women's shoe brand Giotto in the fashionable metropolitan department store Trend Island became the first application of a famous Moscow shoe factory to develop and promote its own brand. Until now, the company has focused on sewing shoes for third-party customers and large retailers. Shoes Report spoke with the head of Giotto, Vladimir Timofeev, about its new strategy and the prospects for domestic production.
What to consider when expanding the assortment of a shoe store to include clothing
2022 was a turning point for everyone and brought strong changes to all industries. Suppliers, manufacturers, the raw materials market, logistics, even software and familiar means of communication began to require a new approach and elaboration. Let's discuss the main trend in fashion retail on the Russian market - expansion of the assortment through related product groups. The point is that shoe companies have begun to actively move towards clothing and accessories, and clothing manufacturers are looking at shoes as a point of growth. With SR expert Emina Ponyatova, we will analyze the key pros and cons for shoemakers moving towards expanding their product range or planning to do so.
How to implement sales funnels in the shoe business
Attracting customers and retaining them is the most important driver of sales growth in any business. Typically, companies allocate an advertising budget as a percentage of total revenue. On average, this percentage varies from three to five. And if the company has a profit, and the owner is satisfied with everything from the point of view of development, such a model has a right to exist. But if the business is not profitable, then it will be difficult to change anything without implementing a sales funnel. SR sales expert Evgeniy Danchev tells how to implement such an effective tool as sales funnels in shoe retail.
Another European patent for CAPRICE
The European Patent Office has once again granted CAPRICE Schuhproduktion GmbH & Co. KG its mark of approval, namely a document certifying the exclusive right, authorship and priority of the invention. The renowned Pirmasens-based shoe company, which specializes in fashionable and comfortable women's footwear, is proud to announce that it has been awarded a European patent for its innovative interior design with climate control and shock absorption.
Crocs and Levi's have released a limited collection of denim Crocs
Crocs and Levi's have tapped Proleta Re Art, a Japanese designer specializing in unique pieces made from recycled denim, to release a super-limited All-Terrain Clog collection.
Results of the round table of shoemakers with the Ministry of Industry and Trade of the Russian Federation, CRPT, NOBS and Wildberries
On September 15, a strategic meeting of representatives of the Ministry of Industry and Trade of the Russian Federation, CRPT, the National Shoe Union (NOBS) and the largest Russian marketplace Wildberries was held at the Holiday Inn Sokolniki hotel in Moscow. Representatives of the Russian footwear industry also took part in the meeting.The event was aimed at discussing key issues of interaction between sellers and the Wildberries platform. Every aspect of the work was analyzed in detail, including news on product labeling from the CRPT. Questions sent in advance from companies received detailed answers from authorized Wildberries employees. The discussion was very lively and productive.
Aroma Sementi offers an innovative shoe accessory
The Aroma Sementi brand presents an innovative accessory for shoes - aroma stickers, which are attached to the insole and sole and give freshness and a pleasant aroma that lasts for 30 days.
How to correctly apply category management when managing the assortment of shoes for the marketplace
The assortment management tool “Category Management” is gaining momentum, and almost every fashion businessman has either implemented category management or outlined a plan for its implementation. Category management (CM) is exactly the tool that is useful offline and can guarantee an increase in sales in this direction. But is it possible to apply and implement CM to work with assortment on marketplaces? The question is answered by a regular author of SR - an expert on work and assortment management in fashion retail, analyst and consultant Emina Ponyatova.
Working with an active audience on Telegram and VKontakte. Mistakes brands make when moving to new local social networks
We already wrote about how to work in the Russian social network “VKontakte” and the Telegram messenger, about the features of these platforms in the 195th issue of the magazine; the expert was digital expert from Fashion Consulting Group Katerina Diveeva. In this issue we return to this difficult topic again, as it is still relevant. Companies have a hard time mastering new platforms and tools through trial and error, but continue to work through them with their target audiences - with existing and potential clients, since there is no alternative: traffic and coverage in prohibited networks is steadily falling. With Katerina Diveeva, we analyze the most common mistakes that are made when moving to new local networks.
Nike's revenue grew 2% in the first quarter of the year.
US sportswear and footwear giant Nike's revenue rose 2% in the first quarter of fiscal 2024, compared with the same period a year earlier, to $12,9 billion.
“Shoe Stories” is an educational and educational project of Shoes Report magazine and the State Historical Museum
This year, Shoes Report magazine launched an educational and educational project dedicated to the history of shoes and accessories, which was supported by the State Historical Museum (GIM). Several materials prepared by GIM research staff specifically for our publication have already been published in printed versions.
Elisabetta Franchi sold a license to Elisabet to produce children's shoes
The Italian luxury brand Elisabetta Franchi will have a line of children's shoes for girls from 0 to 14 years old. The shoe company Elisabet Marche will produce and sell this line. The collection will debut in spring 2024 and will be presented at Milan Fashion Week in September, writes fashionmagazine.it.
House shoes for men and women AXA SHOES from Italy: Beauty in comfort
The Italian brand AXA is one of the most popular and largest manufacturers of indoor footwear for Russia and Europe. In Russia, the AXA brand appeared in 1998 and is currently one of the most popular and beloved brands of slippers.
Euro Shoes was held in Moscow with great success
The largest international exhibition of shoes, bags and accessories in Russia and the CIS, Euro Shoes, which was held in Moscow, at the Expocentre from August 29 to September 1, again turned out to be on top. The organizers note the high activity of buyers who arrived at the exhibition from different regions of Russia and from the CIS countries - Kazakhstan, Belarus, Armenia, Kyrgyzstan, Tajikistan.
Brooklyn brand MSCHF launches "Big Red Boots"
The oversized TPU upper and EVA outsole of MSCHF's Big Red Boots are devoid of any details other than the brand's branded ribbed outsole.
Fashion trends Fall-Winter 2023/24 for commercial footwear purchases
Permanent contributor to Shoes Report. Elena Vinogradova, an expert in sales and purchases in the fashion business, prepared an overview of the trends for the autumn-winter 2023/24 season especially for us.
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.
Balenciaga has released clogs imitating Dutch wooden clogs
Fashion designers continue bold experiments with clogs. One of the latest extraordinary styles has appeared in the collection of the luxury brand Balenciaga.
Key models of shoes and bags of the spring-summer 2023 season
In this article, independent trend expert Galina Kravchenko will talk about the key commercial models for the range of women's shoes and bags for the SS'23 season.
MSCHF and Crocs launch "Big Yellow Boots"
Creator of the Big Red Boots, Brooklyn brand MSCHF has teamed up with American plastic clog and sandal brand Crocs for another oversized shoe. The new Big Yellow Boots will go on sale on August 9th.
Nike announces collaboration with Tiffany & Co
Tiffany & Co. sneakers The x Nike Air Force 1 Low will be housed in a signature mint-colored jewelery brand box adorned with Nike's signature comma in the center, Hypebeast.com writes.
Tiffany and Nike Unveil Joint Air Force Capsule
The result of the Tiffany-Nike collaboration was briefly kept under wraps with the Nike Air Force 1 in black suede with Nike's signature comma in Tiffany Blue. The shoe jewelry brand also got a square-shaped silver pendant placed on the heel of the sneaker and a blue box with a red interior. The shoes come with three extra pairs of laces.
Jimmy Choo Collaborates With Sailor Moon Anime Series
Following Vans, another American shoe brand, Jimmy Choo, released a capsule collection of shoes based on the Japanese anime Sailor Moon. Images of scenes from the popular anime series adorn the shoes and bags of the capsule collection, and her most striking model was a pair of pink boots embellished with Swarovski crystals, according to WWD.
Balenciaga launches 3XL Trainer mules
The first images of the new pair of Balenciaga 3XL Trainer mules have surfaced online. The new silhouette is just a transformation of the brand's sneaker model of the same name, only without a heel.
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.
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.
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.
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.
