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FN and Two Ten Unveil Details for Women Who Rock ‘Power of Mentoring’ Event on June 5

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From left: Sharifa Murdock; Marcia Kilgore; Tamara Mellon; Marina Larroudé
COURTESY OF COMPANIES

Cultivating the next generation of female footwear leaders has never been more critical — and Women Who Rock 2024 will shine a spotlight on the power of mentoring.

On June 5, FN and Two Ten will once again partner for Women Who Rock — which takes place during market week in New York — for an evening of networking, cocktails and content. For more information and to buy tickets, click here.

This year’s speakers will take the stage to talk about finding and becoming a great mentor, valuable leadership lessons and the road ahead for women in leadership. (More speakers will be announced in the coming weeks.)

Our influential lineup includes: Marcia Kilgore, founder of FitFlop; Marina Larroudé, co-founder and chief creative officer of Larroudé; Tamara Mellon, founder of her namesake brand and co-founder of Jimmy Choo; and Sharifa Murdock, chief impact officer at Kith.

Kilgore has founded a number of game-changing global companies in the worlds of beauty and wellness, including FitFlop, Bliss, Soap & Glory and Soaper Duper. In 2016, she launched Beauty Pie, a concept aimed at democratizing the beauty industry and disrupting its outdated business model.

Larroudé is the force behind one of the footwear industry’s fastest-growing emerging brands, which she started with her husband Ricardo Larroudé during the pandemic. During a difficult climate for new labels, the former Barneys fashion director has defied the odds with her mix of trend-right product at accessible prices, attention-grabbing collaborations and social media prowess.

Mellon’s shoe story began when she co-founded Jimmy Choo at the age of 27 and helped turn the brand into a household name. In 2013, two years after exiting the British label, the designer went out on her own, founding her eponymous label with a unique vision. Now Mellon’s growing the business and expanding into wholesale via a partnership with Titan Industries. Last week, she opened a pop-up in Beverly Hills, Calif.

At Kith, Murdock spearheads the brand’s diversity and social impact initiatives and oversees The Kinnect Foundation, the company’s in-house non-profit. Prior to her role at the influential retailer, Murdock worked her way through the trade show circuit, co-founding Liberty and Project alongside her mentor Sam Ben-Avraham.

For more information and to buy tickets, go here or email Trish Reidy at [email protected] For sponsorship inquiries, email Hillari Lazzara at [email protected].

Women Who Rock is being supported by Rack Room Shoes.

As part of our event partnership, FN will make a donation to support Two Ten’s work to advance women in the industry and promote a more diverse, equitable, and inclusive industry.

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Eveningwear Design Darlings Sachin & Babi Expand Into Shoes, Handbags

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Design duo Babi and Sachin Ahluwalia.
COURTESY OF SACHIN & BABI

Sachin & Babi are ready for something new.

The married design duo known for their eveningwear and embroideries is taking their business one step further with an expansion into shoes and handbags for the first time.

In what they call a small “test-and-see” collection, Sachin & Babi have delivered a capsule of accessories filled with their signature design details. More specifically, the debut line includes two shoe styles and three bags that the couple say are a response to the desires of their loyal customers who often wear the label’s evening, bridal and occasion apparel.

“Our customers have been asking for accessories to go with our dresses for quite some time, Sachin Ahluwalia said during a collection preview at the couple’s home in NYC’s Tudor City neighborhood this week. “It felt like the right moment, especially given our exponential growth in recent years.”

As for important design details, Sachin points out that bows are “integral” to the brand’s design, so it was essential to incorporate this into their new line of accessories. And while the company does maintain a family-owned atelier in South Mumbai where second generation artisans craft all their embroideries, Sachin & Babi are working with partners in Vietnam to produce the footwear.

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Sachin & Babi’s new Lennox slingbacks. COURTESY OF SACHIN & BABI

“We do make the bows ourselves by hand, but then they’re shipped to our external partners for finishing,” Sachin said. “This also helps keep our collection sitting at the value-driven price points we like to maintain.”

Looking at the shoe collection, which feature cushioned soles, consumers will find the “Lenox,” a closed-toe, obi-bow slingback which debuts in four colorways: Cerise and Noir Flower in duchess satin, as well as Garden Club and Pink Lemonade in faille. The second style, the “Chelsea” is an open-toe strappy pump available in two colors: Electric Lime and Blue Ikat Floral.

As for the bags, the duo has released the “On The Rocks” convertible clutch, which showcases a gold tone finish, faceted step-cut crystal embellishments, fuchsia lining with interior pocket, and a removable gold tone chain with top closure in both duchess satin or Faille. The look is fashioned in six colorways.

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A model wears Sachin & Babi’s new Chelsea pumps and Cupid’s Clutch. COURTESY OF SACHIN & BABI

The “Bubbly Bag,” an evening look with a silver tone finish, features a pearl and crystal embellished half-moon top handle, fuchsia lining with interior pocket, and a removable gold tone chain with top closure, offered in black and pewter. And, the “Cupid’s Clutch,” in electric lime and silver sequin, boasts a silver finish, a removable silver tone chain with top closure, and what will become a signature fuchsia lining with interior pocket.

The new shoe and bag range, which retails between $295 to $425, is now available for pre-order and will be officially released in February. More styles are expected in coming seasons.

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A model showcases the new Bubbly Bag. COURTESY OF SACHIN & BABI

But for now, consumers will have to go direct to the brand’s website to get their hands on the label’s newest addition. “In the future, we will open the categories up to key retail partners, but in the meantime, we want to build this out sensibly and progress naturally,” Babi said.

Since launching their label in 2009, Indian-born husband and wife designers Sachin and Babi Ahluwalia first cut their teeth in fashion producing embroideries for such labels as Oscar de la Renta, Carolina Herrera, Jean-Paul Gaultier, and Manolo Blahnik.

Today, Sachin & Babi has a growing global presence with an international e-commerce business and a select in-store offering with preferred retailers both internationally and domestically. Their designs have been seen on the likes of Michelle Obama, Priyanka Chopra, Jennifer Lopez and Taylor Swift.

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Sachin & Babi’s new On The Rocks clutch. COURTESY OF SACHIN & BABI
2023
11/14
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3 Big Takeaways From a Packed Earnings Week in Footwear & Fashion — From More North American Worries to New Restructuring Efforts

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Adidas x Sporty & Rich’s fall 2023 collection.
COURTESY OF ADIDAS

It was a mixed bag for many companies this week as earnings season kicks into full swing.

Adidas, Allbirds, Steve Madden, Wolverine Worldwide, Under Armour, Tapestry, Capri Holdings, Tod’s and Ralph Lauren all reported earnings results this week. In some cases, these companies posted a positive outlook on the year, but most are dealing with several headwinds and internal challenges as the state of where the U.S. economy is heading remains top of mind.

As we look back on the week, here are top three takeaways from the most recent round of earnings reports.

More Trouble in North America

Under Armour, Adidas and Tapestry were among the companies this week reporting softening demand in the U.S. and North America as the market continues to cause anxiety.

For Adidas, the German sports brand said this week that the North American region was “problematic” in the third quarter, with sales there falling 8.8 percent to 1.48 billion euros.

Adidas said it’s dealing with higher inventory levels, and therefore increased discounting, in North America and is trying to reduce the level of goods it has there, the company explained. There was also consecutive improvement here: in the second quarter, sales in North America had fallen 16 percent.

As for Under Armour, president and CEO Stephanie Linnartz said on a conference call with analysts on Wednesday morning that driving U.S. sales is a priority for the company going forward. In fact, the company’s poor performance in the region led to Under Armour to revise its full year outlook – citing “several pressures” impacting its North American business like continued inflation, mixed consumer confidence and the effects of wholesale channel destocking having led to softness in future orders.

Capri Holdings is also feeling the sting from American consumers. The company took a big hit in the second quarter as softening consumer demand and a hitch with a new e-commerce system hurt sales ahead of the company’s planned takeover by Tapestry Inc. next year.

Every owned brand at Capri saw a dip in sales, each citing softening consumer demand in North America. Revenue in the Americas at Capri’s Versace label saw a 20 percent decline in the quarter, Jimmy Choo saw revenue drop 11.6 percent in the region — and Michael Kors declined 13.5 percent.

Wholesale Confusion

Under Armour, which once pulled back its wholesale distribution, is now revisiting the channel as it looks to grow its business.

CEO Stephanie Linnartz, who took over the helm of the company in February, said that the expected downturn in the second half is being driven by continued “pressures in our wholesale business,” due in part to inflation and lower consumer confidence, which have led to promotions and an “overall softness in our future wholesale order book.” In the third quarter, Under Armour’s wholesale revenue decreased 1 percent to $840 million.

To counteract these challenges, Linnartz said, the company is leaning into a more premium wholesale distribution strategy. As reported, Under Armour had made plans to exit 2,000 to 3,000 doors in North America to focus on more productive partnerships such as those with Dick’s Sporting Goods and Macy’s.

Steve Madden also reported declines in its wholesale channel. In the third quarter, the company said wholesale revenue declined 0.3 percent to $433.5 million. Wholesale footwear revenue decreased 7.5 percent, while accessories and apparel revenue in the segment increased 22.7 percent.

On a call with analysts this week, Steve Madden chairman and CEO Edward Rosenfeld said that strengthening the company’s core U.S. wholesale footwear business is a key priority.

“This business has been under significant pressure this year as our wholesale customers pulled back on orders across the board as they prioritize inventory control,” Rosenfeld said. “But while we are still not all the way back to where we’d like to be, we saw a significant improvement in the third quarter. U.S. wholesale footwear revenue decreased 6 percent in the quarter, and we expect to see sequential improvement again in the fourth quarter.”

The Era of Transformation Plans

Amid the economic uncertainty the industry is facing, several companies are forging ahead with transformation plans.

At Wolverine Worldwide on Thursday, the Rockford, Mich.-based footwear company revealed a new round of layoffs as it looks to streamline the company. While Wolverine did not disclosed the number of employees affected by this move, the company said in a press release that these reductions are part of a group of initiatives that are expected to deliver $215 million in annualized savings.

At the same time, newly appointed president and CEO Chris Hufnagel said the company would continue to pursue the sale of other non-core assets in the fourth quarter. This follows the company’s recent sale of Keds as well as the Hush Puppies intellectual property in China, Hong Kong, and Macau, and the sale of its North American Wolverine Leathers business to New Balance.

At Allbirds, which is in the middle of executing its own transformation plan, co-founder and CEO Joey Zwillinger said the company’s third quarter results represented progress with a new strategy meant to jumpstart growth and improve capital efficiency and profitability.

After some product missteps in 2022, Allbirds’ transformation plan has largely hinged on doubling down on core products, like the Wool Runner, and shifting away from newer styles that have not resonated as strongly with consumers. This strategy most recently came to life with the launch of the Wool Runner 2 earlier this month.

“When we enter 2024, we’ll have that recalibrated product assortment, less discounted product driving higher full price sell through and we’ll put marketing in a more prominent position to then enjoy the benefits of all the cost reduction that we did in 2023,” Zwillinger said.

 

2023
11/14
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Kelly Rutherford Embraces Summer in Italy With Hermès’ White Oran Slides

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Kelly Rutherford took a relaxed approach to vacationing in Italy — in fact, down to her shoes.

On Sunday, the “Gossip Girl” star snapped a new post on Instagram while on a trip to the Tuscan sea town of Forte dei Marmi. For the occasion, she slipped on a pair of Hermès’ Oran slides — a $700 sandal style crafted from smooth white calfskin leather, complete with flat soles and wide “H”-shaped cutout straps.

Rutherford’s casual, minimalist sandals were ideal when dealing with the summer heat, thanks to their ventilated silhouette and ability to be easily slipped on and off. The “Perfectionist” actress’ pair also smoothly complemented her outfit for the occasion: a lightweight, pale blue Lem Lem minidress with white and golden yellow trim, as well as a woven raffia handbag from French brand Cose.

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Hermès’ Oran sandals.COURTESY OF HERMÈS

Slides like Rutherford’s are favored in the summer months for their open silhouettes and easy wear. Styles in brown, black and white suede and leather are the most popular, thanks to their versatility with a range of outfits and ability to be worn from day to night. The slide silhouette has also risen as a top seasonal shoe choice over the years, with new styles regularly released from a range of brands — as seen in new pairs from labels including Vionic, Tkees and Saint Laurent.

Rutherford’s shoe style is subtle and minimalist. On the red carpet, the “Melrose Place” actress often wears neutral and metallic sandals, boots and pumps from luxury brands including Christian Louboutin and Sania d’Mina. For more casual occasions, Rutherford can be seen in flat sandals and slides from Hermès and Birkenstock.

2023
08/14
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Neiman Marcus Undergoes More Layoffs and Exec Changes

Neiman Marcus
Outside the Neiman Marcus store at Hudson Yards in New York.
SCOTT FRANCES/COURTESY OF HUDSON YARDS

Neiman Marcus Group, an early purveyor of the customer-always-comes-first mentality and a retailer that still lavishes big spenders with luxury and service, wants to become even more “customer-centric.”

Central to what executives described as their new operating model, the Neiman Marcus Group is reorienting its buying approach. Merchants will now be more intensely focused on customer data and insights, and the company has formed a marketing strategy and customer analytics team.

NMG has also created new senior management roles and consolidated certain responsibilities to eliminate silos that typically limit interactions between different business functions and slow the execution of plans.

Among the exec changes, Stefanie Tsen Ward has been appointed chief integrated retail officer, a new role in which she leads the digital, stores and remote selling teams in an effort to encourage multichannel shopping. She previously held the title of chief retail officer for the Neiman Marcus brand and will now report to Ryan Ross who last February became NMG’s head of customer insights while continuing as president of the Neiman Marcus brand. According to the company, for the 12-month period up to the conclusion of NMG’s second fiscal quarter this year, multichannel customers spent five times that of single-channel customers.

Ann Marie Janke has become NMG’s chief technology and information officer. These were two roles before, and Janke had been NMG’s chief information officer. She will be involved in advancing tech products, such as Neiman’s proprietary Connect clienteling tool, and IT, which is all about the data. Her appointment follows last February’s change with Darcy Penick, who became NMG’s head of product and technology while continuing as president of Bergdorf Goodman. Janke reports to Penick now.

In addition, Andrew Floyd has been named vice president of marketing strategy and customer analytics, a new role in the organization. He will lead the new marketing strategy and customer analytics team, reporting to Ross. Floyd had been vice president of acquisition and growth. And Amanda Martin was promoted to chief supply chain officer, continuing to lead supply chain transformation and operations.

WWD has also learned that NMG has triggered another round of personnel cuts at the corporate offices, not at the stores. Less than one percent of the total workforce are affected, or under 100 individuals.

In February, NMG announced it was laying off hundreds of workers, representing just less than 5 percent of its total workforce, which at the time was approximately 10,000 workers. That included about 100 workers at NMG corporate and a few hundred workers at stores and other areas of the business.

In its last fiscal report, the company reported a deceleration of the business, citing the tough economic climate and shifts in affluent customer spending toward travel and other experiences. The Dallas-based luxury retailer has become increasingly “surgical” (to quote NMG’s chief executive officer Geoffroy van Raemdonck) in managing expenses, focused on marketing to its top-spending customers shopping across channels and changing how it operates including enabling staff to work remotely, which has helped recruit and retain talent.

An improved financial performance would help NMG owners Davidson Kempner Capital Management, Sixth Street Partners and Pacific Investment Management Co. cash in on their investment, possibly through a public offering of NMG or a sale of the company or parts of it to another retailer, or to private equity. While there has been media speculation about what the owners could do, a transaction does not appear imminent.

“In this new operating model we are going to pivot to buying for the right audience — the customers who are loyal to us or have potential to have a high customer lifetime value,” van Raemdonck said in an exclusive interview.

“Historically, we bought the product that we thought was the most attractive in the market. Historically, merchants have looked at what brands are growing and that gives you one answer. Now they’re really looking at the most attractive customers and what they are buying,” van Raemdonck explained. “How do we buy more for that type of customer to either grow business with those customers or recruit customers” with similar profiles. “So it’s really applying this customer-centricity.

“We’re not looking to gain market share. We’re not looking to gain transaction. We’re looking to gain share of wallet of the customers who are in a relationship with us. That is the pivot we are facilitating by really framing the role of the merchant differently, and supporting them with a new team which we call ‘customer analytics’ with a VP to provide them with much more insight.” This new team, the CEO said, “will be figuring out what we need to do in terms of what we buy and then how we create activations, events and marketing for the customers that we want.”

NMG’s shift in its buying approach began on a pilot basis last spring for fall with a handful of categories including women’s designer ready-to-wear and shoes. It’s being rolled out to other categories. But evolving the operating model started more than a year ago when van Raemdonck outlined efforts to concentrate marketing and selling efforts on the top Neiman’s shoppers.

According to the company, 2 percent of Neiman’s customers drive about 40 percent of the volume and there’s a 90 percent retention rate among the top customers, who on average spend more than $25,000 annually. Van Raemdonck reshaped top management by assigning Penick at Bergdorf’s and Ross at Neiman’s to group-level responsibilities, for faster decision-making.

With Janke’s appointment to chief technology and information officer, “We’re really merging the technology and the IT teams together, which we believe is important because we’ve got significant investment in technology,” van Raemdonck said, citing new supply chain systems, re-platforming Bergdorf online, and customer relationship management (CRM) and loyalty programs. Blending the two functions will lead to much faster execution, van Raemdonck said. “The focus there is about stronger collaboration and increased execution.”

Asked about the latest round of cutbacks, van Raemdonck said they were geared to remove redundant roles and are “a byproduct of organizing ourselves to be more customer-centric, more agile and execute faster. It’s to break silos.”

This week’s changes reflects the next phase in evolving NMG’s operating model, he said.

“I always say there are three things that differentiate our business model. We believe in integrated retail. We believe in assisted selling and the power of our sales associates, and we believe in curated assortments. And by bringing the organization together, breaking any silos and facilitating the customer journey across our three channels (stores, online and remote selling by associates), that will accelerate our growth. The journey we are on is to amplify our strategy, to maximize our differentiated business model.”

Van Raemdonck did acknowledge that “Sometimes we buy for customers who buy one time with us and don’t come back. We are trying to move our assortment towards the categories, the brands and the classifications that really resonate best with customers in relationships with us, and entice them to buy more from us, and it’s literally based on a better set of analytics that shows at the category level, the classification level, the brand level and the price points that our customer wants. Not surprisingly, it’s the brands that are more luxury, that have the best offering. It starts from the data the merchants are using. We have refined and upgraded the way we analyze the data and make it available,” van Raemdonck noted. “It’s really providing insights to our merchants. And so now are we buying for an audience versus buying what we think we can sell.”

“We are not buying less. We are buying better,” van Raemdonck clarified.

There can be differences between what brands want to sell to retailers and what retailers want to buy, and big brands exert a lot of pressure in the negotiations.

Van Raemdonck said NMG sells “an enormous amount” of designer ready-to-wear and other luxury categories and often penetrates much deeper than the brand penetrates themselves in those categories. “The brands look at us as the gateway to the luxury customer in the U.S.,” he said.

“And so with that we’ve had a great response with brands, when we show them the quality of our customer, and how, by buying this way, and by having them do more exclusives with us, we can give them access to more of the true luxury customer in the U.S. We don’t pretend to tell them what to sell. But we do give them very informed guidance as to where the white space is in their offering. And then usually many brands develop an exclusive with us that addresses that segment. That’s the value we bring in. I actually personally spend enough time with brand CEOs globally to talk about what our customer buys, and what they could provide more of to get that luxury customer to buy more from them. So it’s part of a conversation.”

Coincidentally, Saks, the e-commerce business of the Saks Fifth Avenue brand — and NMG’s arch-rival — is also changing its work culture. Similar to Neiman’s strategy, Saks executives last month said the company is breaking down silos and has repositioned teams for closer collaboration and greater agility, and to apply data insights more effectively to the buying, planning and marketing.

The goal is to capture greater market share and provide a better online experience for customers. Key changes at Saks.com involve the creation of 10 “pods” for the different categories of business with each pod consisting of individuals on category growth, buying and planning teams working together, and an enhancement of the category growth function to closely monitor what’s happening on the website from an analytical standpoint and a merchandising standpoint.

 

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08/14
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After Reporting a Strong Fiscal Year, L.L. Bean Is Focused on Opening Stores and Key Retailers

An exterior view of the L.L.Bean store in Salem, N.H.
An exterior view of the L.L.Bean store in Salem, N.H.
COURTESY OF L.L.BEAN

After closing its 2022 fiscal year in March with net revenue of $1.8 billion — the company’s second-strongest revenue performance in history — L.L.Bean is focused on its omnichannel growth strategy.

This effort, L.L. Bean said in a statement, will have its products in more than 70 new storefronts, in addition to e-commerce platforms.

“Our omnichannel growth strategy continues to be an effective framework for our business, ensuring we’re able to meet customers where they are through a unique mix of channels and locations,” L.L.Bean president and CEO Stephen Smith said in a statement. “We’re grateful to be in a position to expand our retail presence and build new wholesale relationships in order to serve more customers. Everything we do is in support of our company purpose to enable people to experience the restorative power of being outside, and these new ventures will ensure we’re able to fulfill that purpose for years to come.”

L.L. Bean announced in a statement that it is set to debut four stores in North America, including two in Canada and two in the U.S. The Canada doors will be in Quebec, located in the greater Montreal region — Saint-Bruno-de-Montarville opening Aug. 25 and Boisbriand opening Sept. 29. These mark the brand’s first retail stores in Quebec. What’s more, L.L. Bean confirmed it will launch a French-language e-commerce site to coincide with the store openings.

After closing its 2022 fiscal year in March with net revenue of $1.8 billion — the company’s second-strongest revenue performance in history — L.L.Bean is focused on its omnichannel growth strategy.

This effort, L.L. Bean said in a statement, will have its products in more than 70 new storefronts, in addition to e-commerce platforms.

“Our omnichannel growth strategy continues to be an effective framework for our business, ensuring we’re able to meet customers where they are through a unique mix of channels and locations,” L.L.Bean president and CEO Stephen Smith said in a statement. “We’re grateful to be in a position to expand our retail presence and build new wholesale relationships in order to serve more customers. Everything we do is in support of our company purpose to enable people to experience the restorative power of being outside, and these new ventures will ensure we’re able to fulfill that purpose for years to come.”

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Why L.L.Bean Is Wiping Its Social Media Accounts Again in May
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Dick’s to Acquire Moosejaw From Walmart to Bolster Outdoor Portfolio

L.L. Bean announced in a statement that it is set to debut four stores in North America, including two in Canada and two in the U.S. The Canada doors will be in Quebec, located in the greater Montreal region — Saint-Bruno-de-Montarville opening Aug. 25 and Boisbriand opening Sept. 29. These mark the brand’s first retail stores in Quebec. What’s more, L.L. Bean confirmed it will launch a French-language e-commerce site to coincide with the store openings.

L.L. Bran’s stores in the U.S. will both be located in Massachusetts. Hanover will debut first, opening Sept. 8, followed by Peabody on Oct. 6.

At the moment, L.L. Bean has 56 stores in the U.S, another 25 stores in Japan and has 13 licensed retail store locations in Canada that are operated by Jaytex Group.

Aside from brick-and-mortar expansion, L.L. Bean confirmed it will add two key wholesale accounts to its U.S. roster: Dillard’s and Moosejaw. Also, the company will add 10 independent specialty retailers in the southeastern U.S.

“As a 110-year-old company, we have taken great care in ensuring we deliver exemplary customer service to everyone who visits an L.L. Bean store, shops with us online, orders through our famed catalog, or via any other touchpoint,” L.L. Bean chief retail officer Greg Elder said in a statement. “We are honored to be in a period of growth as a company, and that is a credit to our customers, employees and partners. We look forward to continuing to deliver industry-leading customer service and offer everyone who shops with us the goods they need for life, home, and any adventure that awaits.”

2023
08/08
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Superdry Secures New Financing as It Continues Turnaround Plan

SuperDry, store, NYC
Outside a SuperDry store in New York City.

Superdry has secured new financing as it hopes to continue to improve its business.

On Monday, the U.K.-based retail chain said in a regulatory filing that it had obtained a secondary lending facility of up to 25 million British pounds ($32 million, based on current exchange) with Hilco Capital Ltd., a subsidiary of the U.S.-based group Hilco Global.

In the filing, Superdry said that the new funds will improve its liquidity and will help accelerate the implementation of its turnaround plan and cost-reduction program.

The company added that the facility with Hilco is for a 12-month term with the option to extend and is at an interest rate of 10.5 percent plus the Bank of England base rate on the drawn element.

The agreement follows multiple initiatives from the retailer to strengthen its balance sheet.

In December, the company inked an 80 million pound ($102 million) asset-backed lending facility with Bantry Bay Capital Ltd. This facility replaced the existing 70 million pound ($89 million) asset-based lending facility obtained in 2020, which was due to expire at the end of January 2023.

In March, the company went a step further, agreeing to sell its intellectual property assets in certain countries within the Asia Pacific (APAC) region for $50 million. Shortly after this move, Superdry issued a trading update on its fiscal 2023 outlook in April, which included the announcement of its turnaround plan.

In the plan, the company said it had identified initial cost savings of over 35 million pounds ($45 million). These will be achieved through estate optimization, logistics and distribution savings, better procurement and continued range reduction, Superdry noted in the plan.

The company expects these savings to be fully realized by the end of fiscal 2024, with the costs to achieve them primarily incurred in calendar year 2023.

“The Superdry brand continues to evolve, but there is no doubt that the market conditions we face are challenging, compounded by the issues we have previously disclosed and are working to address in wholesale,” founder and CEO Julian Dunkerton said in a statement in April. “As a result, while we continue to deliver like-for-like growth in retail sales, we need to ensure our business is in the right shape to navigate these difficult times, which is why we are looking hard at our cost base.”

In May, Superdry completed a 12 million pound ($15 million) equity raise to help fund its turnaround plan. As part of the raise, 11.1 million ($14.2 million) came through the sale of 15.7 million new shares, equating to 19.1 percent of the company’s equity.

In its most recent guidance, Superdry expects fiscal 2023 revenue to be in the range of 615 million pounds ($786 million) to 635 million pounds ($812 million), up from 609 million pounds ($779 million) last year.

2023
08/08
CATEGORY
BUSINESS
TAGS
continues
financing
new
plan
secures
superdry
turnaround
1 comment

Zappos Is Employing Nostalgia to Win Over Consumers This Back-to-School Season

 

This back-to-school season, Zappos is kicking it old-school.

The online shoe retailer has rolled out a ’90s-style catalog to advertise its kids’ and teen merchandise. The catalog, which was sent out in mid-July to about 700,000 customers who typically purchase shoes for kids, includes product images, games and a shoe sizer.

The catalog is designed to pull on the heartstrings of parents who likely remember growing up in a simpler time before e-commerce reigned supreme, when shopping from catalogs was the norm and an exciting part of the back-to-school experience.

“This is kind of our ode to that nostalgia,” explained Zappos’ chief merchandising and marketing officer Joe Cano in an interview with FN. “We want to make sure that as these elder millennial parents are having their kids go to school, they actually have some fun and have something that they can share with their kids and can create that moment versus being stuck to the screen the entire time.”

Zappos rolled out its first back-to-school catalog in 2019, but put it on pause throughout the pandemic. Now, the shoe retailer has brought back its successful initiative and has already seen a bump in traffic, according to early reads from the company.

zappos catalog
Zappos’ catalog includes an assortment of adaptive footwear products.ZAPPOS

In line with Zappos’ commitment to the adaptive category, the catalog also includes adaptive products from brands such as Billy Footwear.

“Adaptive will always be at the core of Zappos,” Cano said. “We want to make sure that someone can find the most amazing pair of shoes on our site, no matter what age or stage they’re at.”

The shoe retailer has utilized nostalgia for other campaigns in the past as well. For its 20th anniversary in 2019, Zappos turned its website back to what it looked like when it launched in 1999 for one day. And next year, Zappos plans to launch a similar series of nostalgia-focused campaigns for its 25th anniversary and is currently in talks with vendors to highlight and bring back shoes that were popular in the 1990s.

“Some of this nostalgia, as you’re seeing across the board, I think it’s resonating not only with parents, but with kids,” Cano said. “If you look at the current trends right now, they’re very much coming back to that ’90s nostalgia, which plays in perfectly with what this catalog represents.”

Other brands have also seen recent success with throwback campaigns. McDonald’s saw a surge in engagement when it offered a Grimace Birthday Meal special in honor of the purple mascot’s 52nd anniversary. Among footwear brands, consumers are increasingly opting for ‘90’s retro styles like the Adidas Samba.

For Zappos, the key is balancing this nostalgia factor with modern elements for shopping ease. For example, the catalogs include QR codes for people to be able to quickly make their way to the Zappos website.

“I want to make it fun and nostalgic, but I don’t want us to try to reinvent what ordering was back in 1999,” Cano said. “I want to make it very seamless.”

The catalog campaign is a part of Zappos’ continued push in the kids category, which involves a broader emphasis on the growing back-to-school business.

“Back-to-school is becoming a bigger and bigger portion for us,” Cano said. “For us, we want to make this a bigger portion of our business as we go forward.”

2023
08/08
CATEGORY
BUSINESS
TAGS
back
consumers
employing
nostalgia
over
school
season
win
zappos
2 comments

28 Cute Summer Sandals for Women to Fit Every Style and Budget

NEW YORK, NEW YORK - FEBRUARY 10: Victoria Magrath wears blue faded denim large rolled-up flared pants, green shiny leather block heels with embroidered blue and yellow flower pattern sandals , outside Kate Spade, during New York Fashion Week, on February 10, 2023 in New York City.
EDWARD BERTHELOT/GETTY IMAGES

All products and services featured are independently chosen by editors. However, Footwear News may receive a commission on orders placed through its retail links, and the retailer may receive certain auditable data for accounting purposes.

Polish your toes and slather on the foot cream — sandal season is officially here. Whether you’re headed on a beach trip or to a dressy backyard fête, you’ll need a pair of cute summer sandals that let you proudly put your fresh pedicure on display.

For summer 2023, there’s an array of trend-forward and streamlined, comfortable walking sandals to suit your needs. You can expect dad-approved, Gorpcore-style hiking sandals, similar to the Tevas seen on Gigi Hadid and Katie Holmes. Polished and practical flip-flops (like Jennifer Lawrence’s black thong sandals at the 2023 Cannes Film Festival) are on the up and up, as are comfortable slip-on-and-go styles donned by celebrities like Lucy Hale. Wedges are making a comeback, providing a comfortable alternative to stilettos while still offering a considerable height boost. If you’re looking to splurge, Bottega Veneta offers a gorgeous pair of woven wedges that deliver a beachy look (for budget-friendly alternatives, you can shop similar styles at J.Crew or Mango).

Since there’s no time like the present to invest in fresh sandals, we took it upon ourselves to compile 28 cute summer sandals that belong in your warm-weather wardrobe. From budget-friendly options to lust-worthy designer splurges, there’s a sandal style here to fit every occasion and budget.

Best Summer Sandals for Women 2023

  • Best for Plantar Fasciitis: Kuru Breeze Sandals
  • Cute Black Sandals: Everlane Day Twist Sandal
  • Best White Sandals: HeyDude Chandler Eyelet Sandals
  • Cute Flatform Sandals: Nike Icon Sandals
  • Cute Recovery Slides: Adidas Adilette Comfort Sandals
  • Skechers Arch Fit Sandals
  • Best Braided Sandals: Alexandre Birman Agatha 85MM Woven Leather Mules
  • Best Platform Sandals: Loeffler Randall Rivka 120MM Metallic Leather Knot Platform Sandals
  • Best Chunky Sandals: Dr. Martens Vegan Blaire Cambridge Fisherman Sandals
  • Cute Orthopedic Sandals: Clarks Wave 20 Skip Sandals
  • Cute Crocs for Women: Crocs Brooklyn Low Wedge
  • Best Sandals for Flat Feet: Vionic Brandie Flatform Sandals
  • Cute T-Strap Sandals: Timberland Chicago Riverside Thong Sandals
  • Cute Orthopedic Sandal: Chaco Women’s Z1 Classic Sandals
  • Cute Birkenstock Sandals: Birkenstock Arizona Big Buckle Sandals
  • Sorel Cameron Flatform Sandals
  • Best Travel Sandals: Tory Burch Eleanor Mule Sandals
  • Best Athletic Summer Sandals: Teva Original Universal Sandals
  • Cute Summer Walking Sandal: Steve Madden Slinky 30 Platform Slide Sandals
  • Cute Wedge Sandals: Stuart Weitzman Summer Wedge Sandals
  • Tony Bianco Caprice Heels
  • Best Fisherman Sandals: Vince Rava Fisherman Sandals
  • Havaianas x Farm Rio Romance Mismatched Flip Flops
  • Best Jelly Sandals: Jeffrey Campbell Bubblegum Mule
  • Best Naked Sandals: Tkees Gemma Sandals
  • Cute Sandals for Dresses: Anine Bing Invisible Sandals
  • Best Sandals for Wide Feet: Melissa Papete + Rider Sandals
  • Best Puffy Sandals: Gia Borghini Perni 11 Sandals

    Kuru Breeze Sandals

    Cute Sandals for Plantar Fasciitis

    • Size range: 5 to 12
    • Colorways: SoftWhite-BuffTan, JetBlack-White-Gum, CaramelBrown-White-Gum, MineralBlue-FadedBrown, JetBlack
    • Materials: Full-grain leather upper, pigskin lining, and a sheepskin footbed with rubber outsole pods
    • Special features: Contoured, dual-density EVA foam
    • Retailer availability: Kuru

    Kuru’s Breeze slide sandals are made for people with foot ailments, from plantar fasciitis to bunions. They’re one of the most comfortable slides and best shoes for work because of the built-in heel-, ankle-, and arch-support features that mold to your feet. These slides feel cushy on any bone spurs or tight muscles — but not so cushy that you feel unsupported. Plus, they feature the brand’s signature Kurucloud technology which delivers shock-absorbing cushion with each step.

    What reviewers say: “Wow! I love these! I tried them on and haven’t taken them off. I’m a true 7 and I ordered a 7, they fit like a glove. I have a high arch and the sole of this shoe definitely supports them. I have a narrow heel but I do have bunions so finding the right sandal is sometimes challenging. I’m so glad I came across this company. I will be purchasing more shoes from this company.”

2023
07/27
CATEGORY
SANDALS
TAGS
budget
cute
every
fit
sandals
style
summer
women
32 comments

Americans Spent $12.7 Billion During This Year’s Amazon Prime Day

Amazon Prime Day 2023, Amazon, Prime Day
AFP VIA GETTY IMAGES

Amazon reported on Thursday that it saw the “single largest sales day in company history” on the first day of its Prime Day event on Tuesday.

According to the online mega-retailer, Prime members purchased more than 375 million items worldwide, up from the roughly 300 million in 2022.

The company, which didn’t disclose its internal numbers for total sales from the two-day event, added that this year’s event was also the biggest Prime Day ever for independent sellers, whose sales growth in Amazon’s store outpaced Amazon’s retail business.

On Thursday, Adobe reported that consumers spent $6.3 billion on July 12 (the second day of the Prime Day event), up 6.4 percent year-over-year. Across both days, $12.7 billon has been spent online in the U.S., representing 6.1 percent growth over last year’s $11.9 billion in sales, setting a new record for Prime Day, according to its Adobe Analytics data.

Adobe added that American consumers were enticed by steep discounts in categories such as electronics (peaking at 14 percent off listed price), apparel (12 percent) and toys (12 percent), along with home and furniture (9 percent), computers (8 percent), appliances (7 percent), sporting goods (6 percent) and TVs (5 percent).

Adobe also pointed out in its report that buy now, pay later surged during Prime Day as Americans are still feeling the pinch of inflation. On July 12, buy now, pay later accounted for 6.6 percent of online orders, driving $466 million in revenue, and growing 21 percent compared to the second day last year, Adobe said. Across both days, 6.5 percent of orders leveraged the service, driving $927 million in revenue, up 20 percent over last year.

“For months, consumers have felt the effects of persistent inflation and an uncertain economic environment, and it has pushed shoppers to embrace more flexible ways to manage their spending around the Prime Day event,” Vivek Pandya, lead analyst at Adobe Digital Insights, said in a statement. “The revenue growth attributed to Buy Now Pay Later is a preview of what we can expect in the months ahead, especially as we near the holiday shopping season.”

This data coincides with new numbers released by market research company Numerator. According to an early read of the full 48-hour, Numerator said that the average order size during Amazon Prime Day 2023 was $54.05, up from $52.26 in the same reporting period in 2022. Nearly two-thirds (65 percent) of households shopping Prime Day placed two or more separate orders, bringing the average household spend to roughly $155.67.

The consumer-sourced company also saw that the top items of this year’s Prime Day were Temptations Cat Treats, Fire TV Sticks and Liquid I.V. Packets, while the top categories shoppers said they purchased were home goods (28 percent), household essentials (26 percent) and apparel & shoes (24 percent), Numerator noted.

2023
07/22
CATEGORY
BUSINESS
TAGS
Adobe
amazon
americans
billion
day
during
prime
spent
year
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