SGB Update Apparel
Turtle Fur Expands Leadership Team with Four New Hires
Turtle Fur added a new chief financial officer, senior merchandiser, controller, and director of business development to support its growth.
Import Volume Remain Strong Despite Recent Strike
Despite the strike that briefly shut down operations at ports from Maine to Texas, import levels at the nation’s major container ports are expected to continue at elevated levels throughout October, according to the Global Tracker Report from the National Retail Federation and Hackett Associates.
Bain Forecasts Record Black Friday/Cyber Monday Sales
U.S. retail sales over Black Friday – Cyber Monday (BFCM) weekend may set a new record, surpassing $75 billion in sales, according to a forecast from Bain & Company. The weekend is expected to deliver year-over-year growth of around 5 percent, outpacing Bain’s overall holiday sales growth forecast of 3 percent for the entire holiday season.
Paka Expands Senior Leadership to Fuel Brand Growth
The Peru-based sustainable apparel brand hired Christian Castellani as director of wholesale sales, Matt Etzler as senior director of e-commerce, Erika Marsh as senior director of supply chain and operations, and Megan Krajco as design director. Paris Karstedt was promoted to director of brand and marketing.
Association of Golf Merchandisers Adds Vendor Advisory Board Member
Susan Shade is an industry veteran with over 30 years of professional management experience in apparel, golf, fitness, and e-commerce. At Tharanco Lifestyles, Shade oversees the golf division, which includes distributing the Greg Norman Collection to over 50 countries.
Malbon Golf Hires Ex-Nike Exec as CEO
Heiser worked for Nike for over 17 years before leaving the company in September 2023. As CEO of Malbon Golf, Heiser will work closely with Founders Stephen and Erica Malbon, who will continue as co-chief creative officers and board members.
Coal Headwear Names Sales & Marketing Manager
Mike LeBlanc will “modernize the brand’s marketing approach, expand sales channels and elevate Coal’s presence in the global headwear market.”
NuOrder by Lightspeed Appoints New Head of Revenue
Chris Akrimi, most recently, was the CEO of The Layer, a tech company that “transforms commerce data through AI. ” There, he focused on positioning the company at the “forefront of AI-driven product data management.”
Footasylum Secures Funding to Drive Expansion
The company secured a £35 million ($46 mm) revolving credit line from HSBC to support expansion and sustainability initiatives, and set a goal to achieve carbon net zero for Scope 1 and 2 emissions by 2030 and Scope 3 by 2040.
JCPenney Bogged Down by Soft Traffic in Q2
The retailerr eported a net loss of $96 million in the second quarter, which ended August 3, as same-store sales declined 7.7 percent. The loss compares with earnings of $19 million a year ago. Net sales declined 8.9 percent to $1.53 billion from $1.68 billion.
Adidas’ UK Sales Fall 9 Percent in 2023
Companywide, Adidas’ sales in 2023 declined 5 percent to €21.4 billion in Euro terms with flat currency-neutral revenues. The discontinuation of the Yeezy business represented a drag of around €500 million on the year-over-year comparison during 2023.
Long-Time Nike Board Member Douglas Houser Passes Away
Douglas Houser, an attorney who incorporated Nike and served on the company’s Board of Directors for 50 years, passed away at the age of 89.
Mytheresa to Acquire Yoox Net-a-Porter from Richemont
Richemont will sell YNAP to Mytheresa with a cash position of €555m and no financial debt, subject to customary closing adjustments. The transaction will create a multi-brand digital group. The closing of transaction is expected to be in H1 2025.
S&S Activewear Completes Acquisition of Alphabroder
S&S Activewear completed the purchase of Alphabroder, uniting two branded apparel distributors to support customers and suppliers across corporate and consumer markets.
Stussy to Open New York City Flagship
The 5,600-square-foot space will open at 50 Prince Street. The location was formerly McNally Jackson, an independent bookseller with five New York locations.
