All articles by prameela vegi
prameela vegi
Automotive leather producer’s emissions targets approved
The Science Based Targets initiative (SBTi) has approved Bader’s near-term science-based emissions reduction targets. The company says it marks a…
Aston Martin leather interior innovation picks up King’s Award for Enterprise
Vehicle manufacturer Aston Martin has been honoured with a King’s Award for Enterprise, for innovation.
Kering Acquires Historic Milanese Building for €1.3 Billion
Kering recently announced its acquisition of the iconic via Monte Napoleone 8 building in Milan, a historic structure situated at the heart of the city’s Quadrilatero della Moda, for approximately €1.3 billion. The purchase was made from a subsidiary of Blackstone Property Partners Europe.
Deichmann Marks Record Revenue of €8.7 Billion in 2023 Amidst Strategic Investments and New Campus Development on 111th Anniversary
Europe’s largest footwear retailer, Deichmann, celebrated its 111th corporate anniversary with optimism, closing 2023 with a historic revenue milestone of €8.7 billion. The family-owned company announced plans for group-wide investments totalling around €374 million in modernizing its store network, enhancing IT infrastructure, and optimizing logistics, among other initiatives.
JBS Australia Boosts Production at Dinmore Plant, Hiring 500 New Employees to Meet Growing Demand
JBS Australia is significantly increasing production at its Dinmore facility in Queensland, which stands as the largest beef plant in the southern hemisphere
Minerva Foods Reports Strong Fourth Quarter Turnaround with BRL 19.8 Million Net Profit, Despite Revenue Decline
Minerva Foods, South America’s leading beef exporter, closed the fourth quarter of 2023 with a notable turnaround, posting a net profit of BRL 19.8 million, compared to a net loss of BRL 25.7 million in the same period of 2022. Despite a slight 0.3% decrease, the earnings before interest, taxes, depreciation, and amortization (EBITDA) remained robust at BRL 605.9 million. However, the company experienced a 9.8% decline in net revenue, amounting to BRL 6.166 billion, largely due to decreased cattle and meat prices, including cuts for international markets.
Bata Group Partners with Leather Working Group to Drive Sustainable Leather Supply Chain Practices
As part of Bata Group’s dedication to establishing a responsible leather supply chain, reflecting its commitment to sustainability, conscientiousness, and responsibility, it has recently announced that is has joined the Leather Working Group (LWG). A global multistakeholder organization, LWG is committed to driving excellence in the leather industry, minimizing its environmental impact, and challenging industry perceptions through various tools and ESG certification.
PUMA Unveils Plan to Return Up to 50% of Net Income to Shareholders
PUMA has announced its intention to allocate up to 50% of the Group’s net income to shareholders through a combination of dividends and share buybacks. Bolstered by a strong balance sheet as of 2023 year-end and a strategy geared towards sustainable and profitable growth, the company anticipates robust cumulative free cash flow generation in the coming years, forming the organic basis for increased shareholder payouts.
Birkenstock Reports Record First Quarter Revenue and Affirms Fiscal 2024 Guidance Amid Strong Demand Growth
Birkenstock Holding has released its financial results for the first quarter of fiscal 2024, concluding on December 31, 2023. The company has reported record revenue for the first quarter of 2024, propelled by strong demand for its products across all regions, channels, and categories. Birkenstock remains steadfast in its fiscal 2024 guidance, announced one month earlier, along with its mid-term profitability objectives, which include achieving a gross profit margin exceeding 60% and an adjusted EBITDA margin in the low thirties percent.
Silvateam S.p.A. and wet-green GmbH Now Jointly Set the Benchmark in Plant-Based Tanning Technology
Mondovì, Italy, Reutlingen, Germany, 16th February 2024 – Today, a visionary partnership is announced: Silvateam S.p.A., world leader in the production of plant-based tannins, is the new majority owner of wet-Green GmbH, pioneer of the patented wet-green® technology for Olivenleder®, after acquiring the company from MB-Holding GmbH. This strategic alliance will be the “North Star” for sustainable innovations in the leather industry.