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Archive for July 13th, 2023

Vince Camuto Launches New Fly365 Shoe Franchise as Company Aims to Build Men’s Category

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A look at Vince Camuto’s new Fly365 shoes for men

Vince Camuto has launched its first men’s franchise shoe line.

Dubbed “Fly365,” the collection debuts today with two new hybrid, dress-meets-casual styles – the Talmai and Tayden. Both models are launching in three colorways and such materials as hand-antiqued full-grain leather, soft and durable nubucks and breathable airy knits.

According to the brand — which is a division of Camuto Group, owned by Designer Brands Inc. — what sets the Fly365 line apart is the use of a supportive cupsole for stability, a cushioned lightweight midsole for weight reduction and energy return, and a rubber outsole for traction and durability. The line also features a removable performance footbed and linings made using KulKote temperature-regulating technology.

Jorge Gomez, VP and GM of Vince Camuto Men’s, told FN in an interview that the new line was sparked from a consumer need for a shoe with both style and comfort. “In this post-COVID world, modern male consumers are less likely to compromise on comfort, and it’s required at this point in the men’s category,” Gomez noted. “With this new franchise, we are taking our European-inspired aesthetic and infusing it with technical comfort innovation.”

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Jorge Gomez, VP and GM of Vince Camuto Men’sCOURTESY OF VINCE CAMUTO

This launch comes as Vince Camuto sees growth in its men’s shoe business. On the company’s first-quarter 2023 earnings call last month, Designer Brands CEO Doug Howe told analysts that Vince Camuto’s men’s casual direct-to-consumer business was up 87 percent in the period. “We are offering him a breadth of assortment in casuals across different types of constructions, sportier technical constructions and versatile dress hybrids,” Howe said at the time.

While on the call, Howe teased the Fly365 launch and called it an “important step” for the Vince Camuto brand as it begins a “journey of engaging” its male customer in an expanded manner.

Companywide, Howe noted on last month’s call that men’s made up roughly 20 percent of sales across all its categories in the first quarter.

Vince Camuto, Fly365, men's shoes, men's, sneakers, dress shoes, comfort shoes
A look at Vince Camuto’s new Fly365 shoes for men.COURTESY OF VINCE CAMUTO

Looking ahead, Gomez told FN that the Fly365 line will be expanding to include a wider variety of styles, including boots in the fall and further offerings for spring 2024. “As a designer, men’s is a very exciting category to be in right now,” Gomez admitted. “There is a lot of innovation happening across the category, and I’m happy we can be a part of this movement.”

Vince Camuto’s new men’s Fly365 styles, which retail for $169, are now available at Vincecamuto.com. A wider release at Macy’s and Belk stores is planned for this fall.

 

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Footwear Prices in June Drop for the First Time in Over Two Years as Back-to-School Season Approaches

Sale red signs at retail store
Sale red signs at retail store

Inflation in June rose at slowing rate, and footwear retail prices saw a decrease for the first time in more than two years.

Consumer prices rose 3 percent in June compared to last year, according to the latest Consumer Price Index released on Wednesday by the U.S. Bureau of Labor Statistics. This marks the smallest 12-month increase since the period ending March 2021 and a slowdown from May’s 4 percent growth and April’s 4.9 percent. Compared to May 2023, prices in June rose 0.2 percent.

Excluding volatile food and energy costs, the Core CPI rose 0.2 percent from May and 4.8 percent from the same month in 2022.

The progress comes as retailers gear up for the 2023 back-to-school season, which is likely to be characterized by shoppers looking for the best deals. KPMG’s 2023 Consumer Back to School survey found that shoppers plan to spend on average about $377 per kid this season, which is up 21 percent from a year ago. More than 60 percent of respondents report being concerned about inflation, with 70 percent of them looking for early discounts and 57 percent looking for cheaper brands.

Retail footwear prices dropped 0.9 in June compared to the prior year, marking the first time prices dropped in 26 months. Women’s footwear prices dropped 0.2 percent and men’s declined 1.6 percent. Just in time for back-to-school, children’s footwear prices dropped 0.8 percent.

According to the Footwear Distributors and Retailers of America (FDRA), year-to-date footwear prices are up just 0.2 percent and are expected to decline year-over-year through the second half of 2023. In April, FDRA noted a large gap between import costs and retail prices, which FDRA predicted would level out.

“With retail footwear prices certainly not likely to go sharply higher, we continue to look for these import costs to remain soft well through 2023, narrowing this gap even further,” Gary Raines, chief economist at FDRA, told FN.

Online prices in June also fell 2.6 percent year-over-year, according to data from Adobe on Tuesday. This marked the biggest drop since since May 2020 when prices fell 1.5% year over year. Compared the May, online prices fell 1.3 percent in June.

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