All articles by Vemula Pravalika
Vemula Pravalika
Adidas sees a brighter future despite weak Q3 results
Adidas has recently released its financial results for the third quarter of the year, revealing notable figures and insights into its performance. In currency-neutral terms, the company experienced a 1% year-on-year growth in revenues. Converted to euros, the revenues exhibited a 6% decline, amounting to €5.99 billion for the quarter. This contrasting performance was observed across various product categories: footwear revenues demonstrated a positive currency-neutral growth of 6% during the quarter, while apparel sales saw a 6% decrease, and accessory sales dropped by 3%.
New TFL Colour Trends Catalogue Spring Summer 2025
TFL has released its new TFL Colour Trends Catalogue for the season Spring Summer 2025.
Hermès sees sustained demand for leathergoods
The luxury conglomerate Hermès has reported financial results for the first nine months of 2023, with total revenues exceeding €10 billion, representing a 17% year-on-year growth.
Deckers Brands Reports Record Q2 2024 Revenue Growth of 24.7%
Deckers Brands has unveiled its financial results for the second quarter of the 2024 fiscal year, and the company has achieved remarkable revenue figures. During this quarter, the company reported a substantial 24.7% increase in revenue, reaching a total of US$1.09 billion. On a constant currency basis, the growth was 24.2%.
Industry Expert Recommends Leather Use as a Solution to Ocean Pollution
In response to the World Economic Forum’s (WEF) social media inquiry about addressing ocean pollution, Dr. Dietrich Tegtmeyer, a prominent industry commentator, proposed an unconventional solution: the increased utilization of leather in various products. This question from WEF was part of their recognition of the efforts of The Ocean Cleanup, a non-profit organization dedicated to developing technological solutions for plastic waste removal from the world’s oceans.
Kering Reports Q3 2023 Financial Results: Luxury Group Sees 13% Revenue Drop
Kering, the luxury conglomerate, has released its financial results for the third quarter, revealing a 13% decrease in group revenue on a reported basis and a 9% decline on a comparable basis, amounting to €4.5 billion. This drop was attributed to a 6% negative impact from exchange rate fluctuations and a 2% positive influence stemming from the acquisition of Maui Jim.
Birkenstock valued at $9.3 billion
On October 10, German footwear group Birkenstock shared that it had priced its US initial public offering (IPO) at $46 per share, aligning with the midpoint of its indicated price range. This IPO generated approximately $1.48 billion through the sale of 32.3 million shares, establishing the company’s valuation at roughly $9.3 billion on a fully diluted basis.
EBRD supports sustainable leather production in Mongolia
Mongolian nomads are renowned for their functional, fashionable and durable leathercraft.
Leather UK and LHTBI Announce Hardship Fund to Aid UK Leather Workers
Leather UK and the Leather and Hide Trades’ Benevolent Institution (LHTBI) have jointly introduced a hardship fund tailored to support leather workers in the United Kingdom. Known as the Leather UK Hardship Grant, this initiative is aimed at alleviating the adverse effects of the ongoing “cost of living” crisis. Individuals facing financial difficulties due to this crisis can apply for this grant, which offers financial assistance of up to £1,000. Each application will be meticulously assessed on a case-by-case basis and treated with utmost confidentiality. Applicants are required to provide evidence of the hardship.
Natuzzi Reports Q2 2023 Financial Results
Italian furniture manufacturer Natuzzi has released its second-quarter results for the 2023 financial year, revealing a 28.5% decrease in invoiced sales, amounting to €83.5 million. This figure marked a 9.4% decline compared to the second quarter of 2019 before the pandemic, with the decrease being attributed to adverse macroeconomic conditions affecting the furnishings industry.