CHENNAI: India’s leather and footwear industry is set for a robust growth hitting $47 billion by 2030 from the current levels of around $17.3 billion. The exports will more than double at $13.7 billion over the next six years. This has been revealed in the vision document 2030 for leather & footwear industry released by…
Nike is starting to lose share to upstart sneaker brands such as On and Hoka and will need to invest in fresher styles, analysts said on Friday, after the sportswear giant trimmed its annual sales forecast and sent shares tumbling 11%. The Air Jordan 1 shoe maker mainly blamed cautious consumer spending for the downbeat…
Nike on Thursday trimmed its annual sales forecast blaming cautious consumer spending, a weaker online business and more promotions, and said it plans to cut supplies of key product lines to manage costs, sending its shares down 11%. The company said it was seeking $2 billion in savings over the next three years through steps…
MOSCOW: A Russian distributor of Western sports brands will start selling Adidas and Reebok products as soon as this week, despite the companies’ departure from the market over the war in Ukraine, the Kommersant daily reported on Wednesday. Adidas and Reebok were among hundreds of Western companies that decided to suspend business operations in Russia…
New Delhi: Retail major Aditya Birla Fashion and Retail Limited (ABFRL) has partnered with French fashion designer Christian Louboutin, the company announced in a press release on Wednesday. Under the joint venture, Christian Louboutin India’s business will now be a new subsidiary of ABFRL where the partners will hold equal stakes. “This partnership reflects our…
Siddharth Dungarwal, Founder Snitch D2C fashion brand Snitch is investing approximately Rs 5 crore to expand its warehousing capacity by 1 lakh sq ft, Siddharth Dungarwal, founder, Snitch told ETRetail. At present, the fashion brand has an in-house warehouse spanning across 50,000 sq ft and an additional 50,000 sq ft warehouse with 3PL. “With this…
India’s Arvind Fashions reported a 18.9% rise in the second-quarter profit on Tuesday, aided by healthy sales of clothing and footwear and as power brands helped it maintain wider margins. The Bengaluru-based company’s consolidated net profit rose to 216.6 million rupees ($2.60 million) for the quarter ended Sept. 30 from 182.2 million rupees a year…
New Delhi: Relaxo Footwears on Wednesday has reported a jump of 97 per cent in its profit after tax (PAT) of Rs 44.19 crore in the second quarter ended September 2023 as against the PAT of Rs 22.40 crore in the same period of the last fiscal, it said in a regulatory filing. The company’s…
Surging demand for fitness wear and sports equipment for disciplines other than cricket and football helped Decathlon‘s India unit expand sales 37% to Rs 3,955 crore in FY23. With more than 100 large, warehouse-like stores selling products catering to 85 sporting disciplines, the French company is bigger than Adidas, Nike and Asics all put together…
New Delhi: Sports performance brand ASICS India‘s profit increased 37.74 per cent to Rs 55.11 crore for FY23, and its revenue from sales grew 35.85 per cent to Rs 340.85 crore, according to data accessed by business intelligence platform Tofler. For FY22, it had reported a profit of Rs 40 crore, while its sales revenue…
