Nicole Ritchie in new Jimmy Choo ads

Nicole Ritchie, once known as Paris Hilton's sidekick in their MTV reality show, is now fronting Jimmy Choo, the fashionista's favourite pair of heels.
The 24 year-old daughter of soul singer Lionel Ritchie was the surprise choice for the brand's latest ad campaign.

The new ad, which features Nicole looking invariably trim and glamorous, is a spoof on the paparazzi interest in her daily life. Shot by Brett Ratner, director of X-Men 3, it was dreamed up by Jimmy Choo founder Tamara Mellon. “We had fun with the whole celebrity culture,” she said in Grazia magazine.

Nicole said it was an honour to represent Jimmy Choo and that's she been a fan of his shoes since she was a little girl. And now she'll be getting all the shoes she wants for free! Not to mention the £8,500 it-bag she is carrying in the campaign.

19 January 2006

Office to post profits

Office, the shoe retailer, will post a rise in pre tax profit of “at least”50 per cent for the year to February 1st following strong sales over the past year and a buoyant Christmas trading period, according to the Sir Tom Hunter, the chains owner.
Like for like sales at the 55 store chain grew by 14.5 per cent over the six weeks to the end of December with total sales up 55 per cent over the period.
Hunter plans to open up to 20 new stores this year. The expansion will be partially funded by a £10m cash injection from West Coast Capital, Hunters investment vehicle.

Manolo alligators most expensive shoes

The most expensive pair of shoes this year are Manolo Blahnik's alligator boots, which retail at $14.000 (£ 9.500). A study conducted by NPD Group, a US-based retail and consumer information firm, showed that American women spent almost $17 billion on fashionable footwear between October 2004 and October 2005, signifying a 10 percent growth since 2003.

Marshal Cohen, chief analyst with the NPD Group, says that clothes are no longer the number one priority for women, who are increasingly choosing accessories over apparel. Accessories stand for wealth, style and success.

Although only 1 percent of women spends more than $1.000 on a pair of shoes, the number of women willing to pay more is bigger than ever.

Shoe shortage

Shoe prices may rocket and there could be shortages in the shops by next autumn say top retailers such as Tesco and Marks & Spencer. Last summer the High Street was plunged into a ‘bra wars' crisis when trade limits were slapped on imports of lingerie and jumpers. Now similar uncertainty over footwear could spread similar chaos.

Lobbying by southern European countries against imports of shoes from China and Vietnam has led the European Union to consider an anti – dumping tax to penalise exporters who sell goods cheaper abroad than in their home markets. Kevin Hawkins, director general of the BRC, said “Valuable lessons should have been learned from the textile dispute in the summer. The industry would be better served by promoting free access to all markets and not seeking to build higher barriers. If duties are imposed on products, consumers will pick up the bill.” China and Vietnam account for 43 per cent of Britain's £5.5bn footwear market.

Jimmy Choo forges ahead

The luxury shoe and accessories emporium founded by Tamara Mellon is forging ahead at a fast pace. After originally having focused on growth within the UK and the US, it is finally turning its attention to Continental Europe, where Jimmy Choo has opened a boutique in Paris.

Chief executive Robert Bensoussan told WWD that the company is planning brand diversification. A lingerie collection is in the planning, as well as beauty products and eyewear, which are being considered “midterm” development projects.
“(Jimmy Choo) is perceived not as a shoe brand, but more like a sexy brand,” said Bensoussan. “It's our moment. We're on a roll. We still have a long way to grow.”

With the opening of the Paris boutique, on the exclusive Avenue Montaigne, the total number of freestanding Jimmy Choo stores amounts to 31. The new boutique is the smallest of the chain and is expected to generate €2 million (£1.37 million) in sales in the first year. “If this works, very quickly we will open a second and possibly a third store in Paris,” said Bensoussan.

Presently, the firm wholesales to a small amount of French stores. Bensoussan expects that the boutique will mainly attract international clients.
The very first sales point in Continental Europe was a boutique in Milan, which opened a year and a half ago. Last week the firm opened a store in Madrid. Jimmy Choo looks set to achieve its target of 50 stores by 2008. Bensoussan also indicated that major distribution deals are in the pipeline for Japan and India.

Stores will open in Washington DC and Bangkok before the end of the year. Next year there will be store openings in San Francisco, Boston, Hawaii, Qatar, Jakarta, Abu Dhabi, Las Vegas and Dubai.

Since being purchased by private equity firm Hicks Muse a year ago, Jimmy Choo is set to realise a sales increase of 35 percent and a 50 percent growth in operating profits in 2005, said Bensoussan. Total sales for the year are expected to reach £50 million. Handbags, which were introduced in 2003, account for more than 15 percent of sales.

www.jimmychoo.com
23 November 2005

Ann Valerie Hash launches shoe collection

L'Éclaireur, Dover Street Market, Browns , Harvey Nichols , and Liberty can't all be wrong. These are the stores that will be selling the delectable Ann Valerie Hash shoes come Spring. Riding the wave of success with her ready-to-wear, Anne Valérie knows how to criss-cross the masculine-feminine, focusing on blending tailoring and lace that are found in the house's distressed leather, satin, and suede.

The colours remain those of her ready-to-wear collections: black, beige, and dusty rose. The one element that may sur pr ise is a s pr inkling of Swarovski crystals on the graphic bow that grips the ankle on a 110mm black satin pump.

Start saving now!

3 November 2005

Shoe dilemma

Shoes can make or break a look, and this season the “make” list is fabulously long. Black round-toed pumps are the chic way to dress up this winter's form-fitting shapes. If you're looking for something a little more directional go for colour: Try snakeskin and suede in jewel-like shades, and gloss patent heels and flats. Even bolder are eighties bad-girl studded shoes.

Fashion's current love of luxe detailing, meanwhile, sees brocade and bows lifting heels and wedges. And, despite the fact that spiky stilettos seem to have disappeared from the fashion radar, heels are getting higher. Time, then to think about some smart riding boots. When it comes to winter nights, ladylike is best: opt for sumptuous velvet pumps or shoes sprinkled with crystals and glitter. Not only do they add a touch of seasonal sparkle, they're the perfect partner for that little black dress.

8 October 2005

Size? Lauched in Ireland

The John David Group is launching its footwear chain Size? in the Republic of Ireland, as it plans to double the chain to 35 stores. A Size? shop will open on Grafton Street in Dublin next month, along with a UK shop in Sheffield, bringing the total to 15. The group reported a 17.3 per cent drop in fashion sales for the nine weeks to October 1 and a 6.8 per cent drop in the sports division. Group turnover at the sportswear and young fashion group fell just over 1 per cent to £209.6m for the 26 weeks to July 2005.

8 October 2005

Vivier opens in Hong Kong

French luxury shoe designer Roger Vivier has opened a single-brand boutique in Hong Kong , thereby entering the Asian market. The label, which is owned by Italian business man Diego Della Valle who also owns Tod's, is situated in the luxurious shopping centre the Landmark. The shop encompasses 550 square metres.

The company has said that it intends to expand further with department store concessions and single-brand stores.

13 September 2005

Charles Jourdan files for bankruptcy

The management of luxury shoe maker Charles Jourdan, an 80-year-old French design house, is set to file for bankruptcy. London-based designer Patrick cox had been the brand's creative director since 2004. "The managing director Christophe Beranger told APS that he would file for at the commercial court," said Martine Truchet, a member of the CGT trade union and secretary of the company's works committee.

The bankruptcy would cover three companies in the group which employ 532 people: Charles Jourdan industrie, the manufacturing unit; Charles Jourdan France , the marketing and administration division; and Sodepar, that runs the boutiques and factory shops. The company had accumulated debts of nine million euros, according to Truchet, and the workforce feared the worst after a special management meeting was called last Friday because of "treasury problems".

Jourdan had made efforts to restructure in June 2004 when it outsourced the production of handbags to a foreign supplier, Truchet said. Only shoes are still produced at the company's factory in Romans in south-east France. There was further bad news for the French shoe industry on Monday when the commercial court in Romans ordered the liquidation of Stephane Kelian, another luxury shoe maker based in the same area.

24 August 2005

Charles Jourdan and Stephane Kelian bankrupt

The 80-year-old French luxury shoe maker Charles Jourdan has filed for bankruptcy, a trade union source told AFP yesterday. “The managing director Christophe Beranger told us during an extraordinary works committee meeting this morning that he would file for bankruptcy this evening at the commercial court,” said member of the CGT trade union, Martine Truchet.

According to Truchet the company has garnered debts of €9 million (£6.13 million). As a result the 532 employees will face the consequences. The bankruptcy covers three companies: its manufacturing unit Charles Jourdan Industrie; the marketing and administration division Charles Jourdan France; and Sodepar, which is responsible for running the boutiques and factory shops.

A restructuring of the company in June 2004, whereby the production of handbags was outsourced to a foreign supplier, failed according to Truchet. Charles Jourdan shoes are still produced at the firm's factory in Romans in south-east France . The past week has been a difficult one for the French shoe industry. Stephane Kelian Production, the manufacturing unit of luxury shoe company Stephane Kelian, went into liquidation after filing for insolvency on 11 August.

The unit, situated in the south-eastern French town of Bourg-de-Peage , employs 143 people. It said that it had accumulated debts worth € 3 million (£2.04 million) and that it does not have the necessary price and production competitiveness to survive. Stephane Kelian went into receivership in 2002. It was then bought out by luxury group Francesco Smalto, which proceeded to divide the company into ten different units.

23 August 2005

Tatty Devine

So much is in a name and this one says it all. Tatty Devine shoes are simply devine. The new capsule shoe collection consists of five shoe styles, produced in collaboration with Poste Mistress.

The styles complement the accessories in Tatty Devine's spring/summer 2005 collection and appeal to a myriad of tastes. If you're a newspaper kind-a girl, look no further than the pair of newsprint Jazz shoes with a newsprint tie or bag. A taste for the Alps ? Try the alpine wooden mules with a cuff belt or necklace. Feeling primal? Go for the bone cave-girl shoes and elasticated bone bracelets. There's also a pair of sheriff court shoes for those with a penchant for the wild west.

The shoes are available exclusively at Tatty Devine shops and branches of Poste Mistress. They retail for between £65 and £85.

www.tattydevine.com
9 August 2005

Sanderson on the A-List

Shoe maker Rupert Sanderson's creations will soon be available online. From September Sanderson's delightful designs will be available to all of the UK . He is not planning on expanding his points of sale any time soon though. Speaking to Vogue of his Bruton Place store, which he opened last October, he said: “It is more like a showcase, a gallery for the shoes.” Sanderson is not seduced by the idea of a shoe-empire like Jimmy Choo. “We're taking it very slowly. Manolo Blahnik has been in the business for 34 years and still only has one shop. Our focus is 100 per cent on the product and we don't want the issue of return on investment to compromise that.”

If you are concerned by your return on investment however, we suggest to hurry over to Bruton Place where Sanderson shoes are now on sale for 50 per cent.

www.rupertsanderson.co.uk
8 August 2005

Walk on the wild side

Men love their shoes as much as women do, and are not privy to spending their hard-earned pounds on a beautifully cobbled pair of shoes.

Selfridges has caught on the trend and this autumn will unveil Europe 's biggest men's footwear department on its menswear floor. Situated by its Superbrand section on the first floor, more than 88 brands and 20,000 shoes will be available at any time. Think Gucci, Prada, Dries van Noten, Patrick Cox and Jil Sander.

Imelda Marcos eat your heart out.

2 August 2005

If the shoe fits

Women love to shop. Women love shoes. Two generalized statements that have recently been proved by a recent survey performed by Churchill Insurance. According to the results women spend up to three years of their lives shopping and spend an average of £31,680 each on shoes and £15,840 on belts, hats, jewellery and bags.

The survey showed that 90 per cent of women buy a new pair of shoes each month and that they own more than 30 pairs each. However, it also showed women to lie about their spending habits. One in five women hide their purchases from their partners and 22 per cent lies about the amount spent.

20 July 2005

Maloles for a touch of glamour

Maloles is quickly carving a niche for itself as the 'It' shoe brand. Stars like Julia Roberts, Jennifer Aniston and Catherine Zeta-Jones are already big fans, after having been spoiled with various pairs of Maloles flats following the filming of Ocean's Twelve. Now Cameron Diaz and Anna Mouglalis have joined the fan club as well.

The new autumn/winter collection is called Flirty Doll, and like the past collections, is going to appeal the girly girl in all of us. "I let a love of dancing and seduction inspire the really feminine style I love," says the Spanish designer. "I also created more heels than before this season. I want people to have fun in my shoes. They are inspired by the Twenties and I want people to be tango-ing in them - as well as flirting and flamenco dancing." I don't know about the flamenco bit, but these shoes will definitely add a bit of zing to your flirting technique.

Maloles's first handbags will be available in stores including Liberty, Selfridges and Harrods as well as on line by the end of next month.

www.vivaladiva.com
19 July 2005

These shoes are made for bowling

A peculiar trend is afflicting the bowling allies of America. Teens and college students have been stealing rental-bowling shoes to wear as a fashion statement. Perhaps this is in response to an increased interest in bowling fashions, but bowling alley owners are baffled by the phenomenon. "It's like they walk off by themselves," Louise Davis of Brookline's Dormont Lanes told the Pittsburgh Tribune-Review. "I guess it's the cool thing to do."

Bowling has become a popular pasttime for young adults. According to American Sports Data Inc. 35 million new bowlers under age 24 have started the game in the past 10 years. Movies and TV shows promoting the game have also fed its popularity. Bowling alley owners have spiced up the lanes with light shows and rock music, making it a more contemporary, hip activity. And now they're being robbed.

"It's a novel thing to do," says another bowling alley owner suffering from this affliction. "I see a lot of high-school kids wearing bowling shoes around here. Then kids saw them on their friends at school and they want their own."

The trend for stealing bowling shoes apparently began when bowling alleys started investing in new shoes to replace the old, warn ones. Naturally a new pair is so much more attractive to wear than a pair that has been worn by hundreds of pairs of feet. One way for owners to counteract the crimewave is to demand a deposit for the shoes, although this is not always a deterrent.

The grown-ups don't understand it. "I don't know why they want them. I think they're ugly," says one bowling alley owner. However, the trend is being picked up by a number of entrepreneurs who are trying to sell shirts, shoes and balls. Some offer the option of custom striping and colouring. Most bowling shoes cost as much as regular shoes and sneakers, according to the Tribune-Review.

The question may be when, if at all, this trend will cross the Atlantic. Our bowling activities are somewhat limited, but then again so are our American football and baseball activities, but that hasn't stopped us from wearing their jerseys.

13 July 2005

Kurt Geiger sold

A management-led consortium from Harrods Group has bought high-end shoe label Kurt Geiger for GBP 46 million, according just-style.com. The consortium was backed by Barclays Private Equity, which has a 72 per cent stake in the business. Kurt Geiger operates over 100 department store concessions and also operates various standalone stores.

www.kurtgeiger.co.uk
>> Harrods
5 July 2005

Bruno Magli strengthens US employee base

Bruno Magli SpA has strengthened its employee base as it continues to expand in the North American luxury goods market, according to just-style.com.

The Italian shoes and accessories company's team has been expanded on all levels. This strategy includes the appointment of Aaron Schwartz as president and creative director of the Bruno Magli Group. He will continue as president of BMUSA following a successful financial restructuring and repositioning effort.

Randy Routh has been promoted from national accounts manager to national sales manager for the men's division of BMUSA. Mark Koonin has been promoted to national sales manager for the women's division of BMUSA and Meghan Ryan is now customer service manager.

In addition to the promotions the company has made, there have also been a number of new appointments. These include Robert Ruiz III as account executive for the men's division of the western region, Sandra Dezelan as account executive in the eastern region, Jenny Chung as western account executive, Alida Sanchez as marketing and public relations associate, Jennifer Serrano and Tina Graziano as customer service associates and Dawn Samouhos as administrative office employee.

www.brunomagli.com
22 June 2005

LaCrosse Footwear Q1 results

US provider of branded footwear, LaCrosse Footwear Inc, reported consolidated net sales of $18.9 million (GBP 9.9 million) for the first quarter, compared with $23.7 million in the third quarter of 2004. Consolidated net income amounted to $0.3 million, compared with $1.1 million the year before.

The company's overall gross margin continued to improve. It was up at 37.1 per cent of net sales for the first quarter 2005, compared with 30.5 per cent in the same period last year. This improvement reflects the increased sales of LaCrosse Footwear's new higher-margin products and the strategic discontinuation of the low margin PVC boot line.

LaCrosse Footwear Inc. is a leading developer and marketer of branded, premium and innovative footwear for expert work and outdoor users. It distributes Danner and LaCrosse brands through a US network of specialty retailers and distributors, and internationally through distributors in Asia and Europe.

www.lacrossefootwear.com
4 May 2005

Office Buying Director to launch footwear brand

Former Office buying director Lynsey Hand has designed her own shoe collection called Miss L Fire. After years of heading the buying team of the renowned UK shoe emporium, Hand has created her own range, whilst continuing to consult to LK Bennett. The range is trend-led, with a vintage and retro feel, and finished with quirky styling and subtle detailing.

Wholesale prices start at £20 for shoes and £31 for boots. The collection sells at retail with a 3.0 mark-up.

4 May 2005

Loafing around

Loafers are hot again. For some this classic wardrobe staple never fell out of favour, but for the extremely fashion conscious among us the loafer was always the coward's choice when there were so many stilletto's to choose from.

This season, however, loafers and moccassins are back with a vengeance. Ever since Cate Blanchett graced the screen as Katherin Hepburn in all her East Coast glory, loafers have been restored to their former status as a stylish accessory. Worn under a pair of wide-legged trousers or a pair of jeans, loafers give the wearer that timeless, classic look.

If you begin at the high-end, you can never go wrong with a pair of Tod's loafers. The excellent quality ensures a shoe that will stand the test of time, which is desirable considering the price tag. If what you want is something less dressed up and preppy, the many moccassins and driving shoes currently on offer are bound to catch your interest. Of course, Tod's has always had the monopoly on the driving shoes (the soles of which have been fitted with rubber studs for added grip) but many other brands are now presenting their own versions. Chloé has a gorgeous pair in the softest leather, available in blue, green or white, but at a whopping GBP 205 you may want to look for something cheaper. In that case look no further than the high street. Office offers a pair of suede moccassins in black, pink or tan for a mere GBP 29.99.

Moccassins are the lighter version of the loafer. The leather and the sole are flexible and the fit comfortable, designed to mold to the wearer's feet. MiuMiu has introduced the American Indian style moccassins, with beading and tassles, which have been widely copied. They look fantastic under a mini or a pair of jeans. Whichever pair you chose, you will feel ultra hip in this season's must-have accessory.

11 April 2005

Dancing shoes

It's officially spring and we all know what that means. New outfits and new, flirty shoes are just waiting to be worn. This season's shoes are inpired by the groovy 70s and the roaring 20s. Bertie is offering 70s style clogs and T-bar dance shoes in gold, silver and black.

Secondhand shops usually have a variety of dance-style shoes to choose from. According to the experts, Absolute Vintage in east London is the best place to find great secondhand shoes.

However, if you prefer to stick to the high street, Office have introduced vintage ranges that are re-issues of old designs like the Isadora bar shoe in black leather (inspired by the 20s) or the Birds of Paradise suede shoes.

Happy dancing!

12 April 2005

Shoes galore

We all know someone who lives in constant dread of shoe shops, knowing that there is never anything out there that will fit their tiny or too big feet. They seem resigned to the fact that they have to spend the rest of their days in generic loafers or masculine running shoes. However, those days are over with the introduction of Selve.

The Jermyn Street shop is winning hearts with its semi-bespoke business that lets the customer create her own shoe with their latest designs. She is free to choose the material, colour, heel shape and strap to suit her individual tastes and obviously size is no longer an issue.

Founder Karen McIntyre told Vogue.com: "One woman cried when she realised we could make her a pair of knee lenghth boots. She had a high instep so she had never found a comfortable pair before."

Karen and her husband John Barron first came upon the idea to open a bespoke shoe shop when they discovered Claudia Kierserling's semi-bespoke shoe business during a business trip to Munich last year. They fell in love with the idea and asked her to develop the idea for the UK market. They are now working together with ex-Marni designer Rosa Aivito and things are going swimmingly.

"It's an exclusive service but it's 100 per cent inclusive. If your feet are smaller than a four or larger than a seven you need never feel like a freak again," says McIntyre. That's like music to our ears.

www.selve.co.uk
5 April 2005

Fabulous Footwear

Belgian footwear brand N.D.C. is on a close watch for fashion editors, and continues to captivate with their distressed sensibility. The worn-in theme ruled at Premiere Classe for several seasons, and while others have moved on to capture fleeting trends, N.D.C. have stuck to this design sense, creating subtle tweaks to avoid static.

The label, which stands for nom de code, comes from Enrique Corbi and Arnaud Zannier, friends and veterans of the footwear business who've worked collectively over ten years in design and marketing for Kickers, Caterpillar, Paul Smith and Stride. Since 2001, the duo's own line has offered handmade shoes for men and women, with an emphasis on classics. Brogues and oxfords have beautiful patinas - they appear to have aged over time - and look as though they've been folded and sat on for a malleable, pliable effect. The leathers and suedes are baby's-bottom soft; try them on and it's comfort beyond. The freshness is not only in quality; the line is subtly experimenting with materials that sit well with their lived-in theme. For fall, their pointy-toed Oxford Gullit and Oxford Kristal series come in a super modern-looking metallic sheen of gold, bronze and purple, and in mustard and black patent leather. They look crushed, wrinkled and gorgeous.

Nicholas Kirkwood, a two-season-old London-based designer, was the buzz among buyers and editors for a focused capsule collection. The Cordwainers and Central Saint Martins alum and former sales associate for Philip Treacy limited his selection to under a dozen styles and started with the heel. Finding stilettos "a bit dated; they've been around for like a hundred years," he went for wood and stacked leather heels that give the sex appeal of the vertiginous without the tart. Black, purple, and blush-pink leather and suede Mary Janes are one part rock 'n roll and the other part mid-century inspired (think Maud Frizon), in sync with the period-precision mood of the season.

5 April 2005

Chocolates and Manolo's

The story is like something out of a Roald Dahl book. Heidi Hollingsworth of Austin, Texas receives a box of chocolates as a Valentine's Day gift from her father. It's a sweet gift, but what's hidden inside is a promise of so much more.

Tucked in the box is an announcement that she is the winner of the grand prize in a Godiva's Valentine's Day promotion. Her winnings? One year's supply of Godiva chocolates and Manolo Blahnik shoes, 52 boxes and 52 pairs. Upon her discovery, Heidi Hollingsworth was flown to New York City by Godiva to realize her prize.

"Godiva and Manolo complement eachother I think, both evoke aphrodisia, luxury, indulgence," said Manolo Blahnik president George Malkemus as he explained why the two companies joined forces in this enterprise. " Chocolates are what a lady wants as a gift from someone. That's why it's so important for Valentine's Day. Shoes are what a girl wants for herself. They mark decisions." All we can say is, lucky, lucky Heidi.

29 March 2005

Stead & Simpson reviews options

The British footwear company Stead & Simpson has announced plans to perform a strategic review of its option, including a potential flotation on the stock market. The company, which is the UK's third largest specialist shoe retailer, has appointed financial advisors from Clarwater Corporate Finance Plc to help explore various options in order to secure funding the growth of the business.

The announcement was made when the company reported an almost doubled pre-tax profit to GBP 8.9 million for 2004, up from GBP 4.6 million the previous year. Sales for the year increased 7.8 per cent to GBP 140.3 million.Stead & Simpson operates over 400 retail outlets in the UK under the names Stead & Simpson, Shoe Express and Lilley & Skinner.

15 March 2005

Emma Hope Shoes

Emma Hope - famous for her elegant courts and pretty bridal shoes - has now added sneakers' to her collection. The designs include pumps with stripes or polka dots; a navy, red or off-white running shoe; and high-top baseball boots in printed calf and ponyskin. They're so luxurious, stiletto slaves may be tempted, to…

From £179. Call 020 7259 9566 for more information

9 February 2005

Hi-Tec back to tennis

British footwear brand Hi-Tech is returning to tennis with production of a new range of tennis shoes and a partnership deal with the Lawn Tennis Association (LTA). According to the deal, Hi-Tech will be the LTA's 'Official Partner' from January 2005, supplying footwear for tournament ball boys and girls, officials and LRA coaches.

The new shoes will incorporate the Hi-Tec V-Lite Extreme Custom Fit, which integrates technologies already present in the brand's golf and outdoor collections. Marketing manager of Hi-Tec, Simon Bonham, said: "Our new association with the LTA and long-term commitment to the sport highlights our dedication and determination to cement Hi-Tec's position in the tennis footwear market."

The company has over 30 years' experience in sports related performance footwear, and has sold 250 million pairs of shoes worldwide. Of these, 30 million pairs have been designed for court related activities.

www.hi-tec.com
17 January 2005

Williams Eyeing LK Bennett

Peter Williams, the former CEO of Selfridges, is interested in acquiring LK Bennett, the British shoe, accessories and clothing retailer which was put on the block in November last year.

Williams, who left the top role at Selfridges in February 2004 after Canadian billionaire Galen Weston acquired it in summer 2003, is reported to be in talks with private equity groups about launching a bid to acquire London-based LK Bennett and its 46 stores in the UK.
Linda Bennett, who founded LK Bennett in 1990, put the company up for sale after calling in British accounting company BDO Stoy Hayward to carry out a strategic review in November last year. Ms Bennett is said to have put a price tag of £75 million (€108m) on the company.

4 January 2005

Faith Sold For £64m

Private equity group Bridgepoint Capital has completed the £64m acquisition of footwear retailer Faith. Jonathan Faith, son of founder Samuel Faith, who set up the business in 1964, is quitting the business to focus on developing a stock management system first used at Faith.

The company now has 67 stores and 120 concessions in the UK, mainly in Debenhams stores, and recorded sales of £73.5m in the year to June 30. The management team led by MD Jacqueline O'Neill is staying with the business, with Roland Denning becoming chairman.

Jason McGibbon, investment director at Bridgepoint, said: "Faith is already a well established brand with an experienced management team capable of rolling the business out further." The new owner aims to grow the UK business as well as seeing opportunities for international franchising. Bridgepoint also owns Adams Childrenswear and Molton Brown in the UK, and French perfume brand Nocib.

14 December 2004

LK Bennett for sale

Linda Bennett, the founder of British shoe and fashion retailer, only recently announced her interest in selling part of her business so that she might concentrate on the creative aspects and there is already a bidding war for her company.

Luc Vandevelde, ex-chairman of Marks & Spencer and Jimmy Choo are both in the running to buy the company. They filed their offers before the deadline for the first bids last Wednesday, along with Hobbs and the Mosaic Group. The latter also owns Karen Millen and Whistles.

Approximately 30 companies are expected to join the bidding for LK Bennett. The company is expected to earn GBP6.7 million on sales of GBP46 million for the financial year ending 31 July. The company is valued at GBP75 million and Linda Bennett is expected to earn up to GBP70 million from the sale of her company.

www.lkbennett.co.uk
13 December 2004

Why keep the Faith?

Jonathan Faith, owner of the women's footwear chain that bears his name, has landed a £45m windfall after agreeing to sell the business to the private-equity firm Bridgepoint.

The £64m takeover will give Bridgepoint an estimated 70 per cent stake in the business. Faith, son of the chain's founder, will leave the company after the transaction and intends to focus on the handheld product-scanning technology used in Faith shops. The chain operates 67 stores and 120 concessions, mainly in Debenhams and Top Shop outlets

12 December 2004

Office reports profit rise

High-street shoe chain Office has reported a leap in profits by more than 20% in the first year since Scottish business tycoon Tom Hunter took over the company. The company announced a increase in sales to GBP33.5 million, up from GBP25.7 in the same period last year.

Office, which employs 383 staff across the UK, saw pre-tax profits swell to GBP 2.5 million from EBG 2.05 million the year before. Prior to the GBP 15 million takeover in early 2003 by Hunter, Office opened one or two shops a year. Under his leadership, the retailer is preparing a portfolio of approximately 80 stores. During the first 12 months of Hunter's reign, the group opened seven new places of business, taking the current portfolio to 30 stores. A further 10 stores opened this year.

The management team, spearheaded by chief executive, Richard Wharton, continues to build the brand's presence and see profits grow. Wharton is also involved in expanding Office's sister brand, Oube, which is poised on the threshold of a major expansion plan. With a GBP40 million injection, the brand is to grow into a150 store chain. Wharton was very optimistic about the future of the brand, reporting that the new shops had been trading according to expectations.

The entire management team, including Wharton, will receive a piece of the GBP1.12 million pie in the form of a GBP45.79 per share dividend pay-out. Hunter himself does not receive a salary from Office, preferring to reinvest his earnings into his investment company West Coast Capital, which owns Office.

www.office.co.uk
8 December 2004

Boots best site

UK retailer Boots had the most visited health and beauty website in the UK for the month October, according to web-use monitor Hitwise. With 29.1% Boots beat Avon UK(9.3%), Avon Shop UK (2.1%), Virgin Cosmetics (4%) and Lush (1.4%). 1.2% of all e-shopping traffic in the UK consists of online visits to health and beauty websites.

www.boots.com
7 December 2004

Geox shares popular

Shares in Geox, the Italian shoemaker, generated heavy demand on the first day of trading. The company offered the shares at EUR4.60 (GBP3.31), just under the top of the target range of EUR4.80. The current offering values the company at EUR1.2 billion, which is more than three times the turnover that the company expected to achieve this year.

www.geox.it
1 December 2004

Made to order

There was a time when a pair of bespoke shoes was the domain of the wealthy and high-born. However, the world has become an emancipated place and these days handmade shoes are available to the general public.

Affordable and even online versions are now available. The famous shoe manufacturers Anello and Davide, established in 1922, specialise in theatrical and dance footwear. Back in the day, Anello and Davide made high-heels for Marilyn Monroe and created the ruby-red shoes worn by Judy Garland's Dorothy in the Wizard of Oz. The brand also made the Cuban heeled ankle boots for the Beatles in the early 60s, which were subsequently dubbed the Beatle boots.

Thanks to its significant contribution to the stage and cinema, the brand has been awarded with two royal warrants, one by the Queen Mother in 1997 and the second by the reigning queen in 2001. Anello and Davide shoes are worn by celebrities ranging from Victoria Beckham and Denise van Outen to Sir John Guilgud.

The bespoke shoes can be ordered off the internet. The Anello and Davide site offers clients a brochure which contains the company's copyrighted measuring system and choice of heels, heights and toeshapes. Of course, shoes made in this manner are not one hundred percent bespoke, but this approach does mean that the shoes become more affordable, starting at GBP120.

Furthermore, the Beatle boots can still be ordered in either the ready-to-wear version from GBP165 or the special editions from GBP225. The bespoke versions, made to order in exact personal measurements and specifications are available from GBP495.

In addition to its bespoke shoes the company has introduced a limited edition line of ready-to-wear shoes called A&D, available on its website. The shoes are modern in design, with new styles in store every four to six weeks. Prices start from GBP60. The shops are currently having a sale of 100% custom-made shoes, with prices ranging from GBP45 to GBP260.

www.anellodavide.co.uk
30 November 2004

Topshop Opens First Shoe Store

Forget Jimmy Choo sandals and Prada Mary-Jane pumps. In fact, designer shoe brands are in for some stiff competition with the opening of Topshop's first standalone shoe store, Shoes by Topshop, in Manchester. Topshop's brand director, Jane Sheperdson said: "We feel that now is the time to show Topshop shoes can stand on their own without the clothes and to show that this is a real fashion brand."

The collection comprises of designer-esque shoes as well as their revered vintage range. There is also a spa in the back for pedicures, manicures, massages and fake tans. As to why Manchester, Ms Shepherdson said that "we thought, if we can make it in Manchester, we can make it anywhere". The company also did not want to overlap with its London Oxford Street branch which also sells shoes.

Topshop launched its highly successful shoe range two years ago and its pixie shoes sold an astonishing 3,500 pairs a week last year. Awaiting customers in the shop are Glastonbury-inspired, handpainted wellingtons as well as all of next season's shoe trends: quasi-Chanel tweed stilettos at the very un-Chanel price of GBP45, endless selections of moccasins (GBP40) the spitting image of the popular Tod's and Miu Miu's versions.

As Topshop's designs have improved, the average customer age has increased and Shoes by Topshop is the first acknowledgment of this change. The store is situated on the decidedly chichi King Street, a mere stiletto's throw from designer stores such as MaxMara, Emporio Armani and DKNY. The shop has a stylish boutique feel, instead of a mass-market department store and there is talk of more standalones such as one for lingerie.

16 August 2004

Kensington Shoe Event Steps Up

The Kensington Shoe Event has increased in size to accommodate more new exhibitors. More than 50 middle-to-upper quality footwear brands will be on show at the Kensington Close Hotel, London W8 on March 28-30.

14 January 2003

Boot Mania!

It's a boot season for both girls and boys this winter. Wear them out and proud, preferably with your jeans or trousers tucked in. For those braving the cold weather we recommend fur-trimmed linings, long favoured by our neighbours in Russia. For evening, team them with a wool mini and black-and-white peppered mod coat.

For a selection head to South Molton Street, W1. Here you'll find some of the best shoe stores in the capital.

17 November 2003

Goliath Footwear Sold

The Co-operative Group is bringing an end to its involvement in the footwear industry with the sale of Goliath Footwear to a Turkish company.
Production at the factory - in West Yorkshire - was halted at the turn of the year when manufacturing was switched to Turkey. The company's sales and distribution operation continued in Heckmondwike, but the CWS has now confirmed that the site will close completely.
The Goliath site is expected to close in November. Some assets from the business - including the Goliath brand name - are being sold to Turkish safety footwear manufacturer,Yakupoglu.

At its height, the Heckmondwike factory employed hundreds of people. More than 200 worked at the plant until four years ago, but just 25 now remain. They are the subject of a 30-day consultation process between the Co-operative Group and trade unions.

September 17 2003

Red Candie's

US footwear and clothing company Candie's reported it slid into the red with a net loss of $ 3.8m (€ 3.4m) in the second quarter ended 31 July 2003, compared to a net profit of $ 3.3m in the same quarter last year, while sales dropped by 16.6 per cent to $ 40m in the period. The company blames the negative impact on its transition out of footwear operations to the licensing business.

September 16, 2003

Gola Classics Launches Website

Footwear brand Gola Classics has launched their website www.golaclassics.com, a website that provides consumers and retailers with a full product database and detailed brand history.

A trade-only password protected area contains news of products and brand developments.

1 September 2003
www.golaclassics.com

Profits Drop for R E Tricker

Classic English footwear company RE Tricker, which owns the brand Trickers, reported sales of GBP1.13m for the year ended December 31 2002 against GBP1.19m for the previous year. Pre-tax profits dropped 60 per cent to GBP104,910 for the same period.

27 August 2003

Start-rite Closes UK Factory

Children's footwear brand Start-rite will close its last remaining production facility in Norwich on September 26. The closure will see 28 jobs beings cut.

From September, all products will be sourced from overseas in an effort to improve Start-rite's competitive edge in the children's market, the company stated.

The Norwich ring Road warehouse is set to relocate in November, and the Crome Road offices soon after, to a new complex in the Broadland Business Park.

18 July 2003

Clarks Jobs Under Threat

Footwear brand Clarks is offering voluntary redundancy to 25 of its 130 workers at its factory in North Devon, fuelling industry speculation that it may have to close one of its two remaining factories in the UK.

21 May 2003

Footwear Sector Stumbles

The footwear industry is seeing a decline in profits despite stable sales growth, according to the 2003 Business Ratio report published by The Prospect Shop.

In spite of an average compound annual sales growth rate of 5 per cent for the industry, profits were in continual decline over the three years under review 1999/2000 to 2001/2002.

According to the report, a profit contraction of 7 per cent between the first two years was followed by a further contraction of 11 per cent in the third year resulting in a compound profit growth rate of minus 9 per cent.

One chairman of a footwear retailer said the report reflected mixed performances among footwear retailers over recent years. 'The industry has been a story of winners and losers with the likes of Sole Trader, LK Bennett and Russell & Bromley all performing very strongly,' he said. Russell & Bromley is in the top three most profitable footwear groups in the UK with sales of GBP 73.1 million.

The report compares the financial performance of 124 companies operating in the UK footwear industry. To order 2003 Business Ratio - The Footwear Industry call 020 8481 8720.

15 May 2003

Faith Profits Up

Fashion footwear multiple Faith reported profits up 23.8 per cent to GBP 2.6m for the year ended June 29, 2002. Turnover was up 4 per cent to GBP 38m. The last of its Topshop concessions will close in August 2004. Profits and turnover are not expected to be hit until year-end June 2003 and June 2004.

15 May 2003

Strong Q4 Kenneth Cole

Footwear and accessories-maker Kenneth Cole Productions announced record-breaking fourth quarter results this Tuesday. The company reported net revenue of USD117.4 million, an increase of 16.7% versus the year-ago level of USD100.6 million. For the full fiscal year, the company reported that net revenues increased 11.6% to USD433.0 million versus USD387.9 million in net revenues in fiscal 2001.

Kenneth Cole Productions also issued guidance for fiscal 2003. The company believes it is likely to report sales and earnings for the period in the range of USD478 to USD485 million. The company further noted that it expects first quarter sales and earnings in the range of USD106 to USD110 million.

Chairman and Chief Executive Officer Kenneth Cole concluded: "Fiscal 2003 will mark our twentieth year of doing business. As we begin this anniversary, we are looking forward to realizing the benefits of the investments we have made in our brand and business and to build on the efficiencies we have accumulated over the years. Our brands are as strong as they have ever been, and our reach into the market continues to grow."

Kenneth Cole Productions, Inc. designs, sources, and markets a broad range of footwear, handbags, and accessories under the brand names Kenneth Cole New York, Reaction Kenneth Cole, and Unlisted, a Kenneth Cole Production.

February 27, 2003
www.kennethcole.com