RealReal appointed Rati Sahi Levesque, the luxury resale marketplace’s president and COO, as CEO, effective immediately. Levesque succeeds John Koryl, who has departed from the company and no longer serves on the Board.
Category: Footwear
X-Bionic Secures Investment from Olympic Skier Marco Odermatt
X-Bionic reported that Olympic gold medalist and three-time Alpine World Cup champion Marco Odermatt has become an investor in the Swiss apparel specialist. The amount of the investment was undisclosed.
Adidas’ Debt Rating Outlook Upgraded as H1 Performance Exceeds Targets
S&P Global Ratings raised its debt ratings outlook on Adidas AG to stable from negative due to the company’s stronger-than-expected operating performance and its expectation that the brand’s growth momentum will continue.
EXEC: AlixPartners Survey is Latest to Find Nike Losing Mind Share in Sneakers
An accompanying survey conducted by the financial advisory and global consulting firm is the latest to indicate that the brand has lost market share to competitors, including Adidas, New Balance, Hoka, and On.
OluKai to Open Store at Walt Disney World Resort
OluKai plans to open a store at Disney Springs, an outdoor shopping complex at the Walt Disney World Resort in Lake Buena Vista. The opening will mark the Hawaii-based sandal maker’s first store in Florida.
EXEC: Yue Yuen Forecasts Strong YTD Profit Growth as Footwear Market Normalizes
The Hong Kong-based firm said the gains were “mainly attributable to the solid increase in the gross profit margin of the group’s manufacturing business alongside a substantial rise in brand customers’ demand for its footwear products.
On Opens Flaghips in NYC and Chicago
Swiss-running brand On opened flagship stores in Chicago and New York City, bringing its store count in North America to eight. In 2020, the company opened its first global store in SoHo, a neighborhood in Lower Manhattan.
EXEC: Fenix Outdoor Hopes for Better Times Ahead as Q3 Continues Downward Trend
The executive chairman of the Board for the parent of the Fjällräven, Royal Robbins, Hanwag, and Fenix Outdoor brands said the quiet part out loud in his letter to investors regarding the quarter when he said there was not much positive to say from a sales perspective.
EXEC: Hoka Drives Deckers Brands’ Fiscal Q2 Growth; Prompts Guidance Bump
DECK now expects Hoka to increase approximately 24 percent year over year, reflecting the continued strength of global demand. Ugg is still expected to grow mid-single digits, and diluted earnings per share expectations range from $5.15 to $5.25 for the year.
Skechers U.S.A. Posts Double-Digit Q3 Sales Growth with Strength Across Channels
Third quarter sales increased 15.9 percent to $2.35 billion, with a 16.4 percent increase internationally and a 15.3 percent increase domestically. On a constant-currency basis, sales increased 15.9 percent year-over-year (y/y).
Columbia Brand Appoints Marketing Chief; Launches New Brand Vision
Matt Sutton, as senior vice president and head of marketing for the Columbia brand, was hired as the Columbia Brand has reportedly worked to bring a new strategic vision to life internally over the last few months.
EXEC: Saucony Brand’s Q3 China Retail Sell-Through Growth Exceeds 50 Percent
The core Xtep Brand posted a mid-single-digit year-over-year growth for the offline and online channels in China, with a discount of ~25 percent for the three months ended September 30.
Craft Sportswear to Open Pop-Up in SoHo During NYC Marathon
The retail space will serve as Craft’s “basecamp” during the New York City Marathon (November 3, 2024), where it will host events and feature the Kype Pro, the brand’s latest shoe designed for elite runners.
Ken Hicks Takes the Reins at PetSmart LLC
The former Foot Locker, Inc., Academy Sports + Outdoor, Inc. and JC Penney Chief Executive has been named President and CEO, effective October 31. Hicks will also serve on the company’s Board of Directors.
EXEC: Birkenstock Takes Over Direct Distribution in South Korea
The company will capitalize on the South Korean consumer’s buying potential selling DTC through its online shop. In spring 2025, it will open its own stores and expand with selected department stores.
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