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Puma launches cost-cutting drive after 2024 net profit disappoints

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Reuters

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January 22, 2025

Sportswear brand Puma announced a cost-cutting programme on Wednesday after reporting 2024 net profit below the prior year’s level, missing its expectations.

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Net profit was 282 million euros ($294 million) for the year, compared to 305 million euros in 2023, Puma said in preliminary results released after markets closed, adding that higher interest payments on its debt hurt income.

“While we achieved solid sales growth in 2024 and made meaningful progress on our strategic initiatives, we are not satisfied with our profitability,” said Arne Freundt, CEO of PUMA, without saying what its expectations were.

Freundt added that he expects stronger growth in 2025 than last year.

Net profit was also impacted by higher non-controlling interests, Puma said. Its joint venture with United Legwear & Apparel Co (ULAC) did well, a spokesperson said, but it could only book 51% of the profit, with the remainder going to ULAC.

The cost-cutting programme aims to get Puma back to an earnings before interest and tax (EBIT) margin of 8.5% by 2027. Puma aims for a 10% EBIT margin in the long term. The EBIT margin for 2024 was 7.1%.

Puma said the programme would look for savings in areas like personnel expenses, but a spokesperson said Puma aims to keep its headcount stable and has no global target for layoffs.

“We will ensure that we allocate resources where we need them to drive our growth,” the spokesperson said in an email.
For the fourth quarter, a key shopping period, Puma’s sales grew by 9.8% in currency-adjusted terms, to 2.289 billion euros ($2.38 billion).

Over 2024 as a whole, sales were up by 4.4% in currency-adjusted terms, to 8.817 billion euros.

Puma’s fourth-quarter sales grew by 14.3% in Europe, Middle East and Africa region, and 7.4% in Greater China. Sales of footwear, Puma’s biggest category, were up 9.2% over the quarter while apparel sales grew by 8.8%.

Puma will release its full fourth-quarter and annual sales on March 12.

© Thomson Reuters 2025 All rights reserved.



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Fashion

Iceberg Jeans is back under creative director James Long

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Ansa

Translated by

Nicola Mira

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January 31, 2025

Iceberg Jeans, the iconic streetwear line by Italian label Iceberg, is back. Under creative director James Long, the Iceberg Jeans line embodies a vibrant state of mind: fun, inclusive, contemporary, and accessible. Besides denim, the new collection includes outerwear, knitwear, tailored items, casual wear and accessories.

Iceberg Jeans

“I’ve always wanted to give Iceberg Jeans a new lease of life,” said Long, the creative director at Iceberg. “The brand has a unique energy, and like everything that Iceberg represents, it’s always about looking to the future with optimism. I love these designs, and I hope that others too will appreciate them and make them part of their everyday lives.”

Iceberg Jeans debuted in 1986, soon emerging as a bold brand bringing Italian design, with its mix of playfulness and wearability, to the world. Its success was fuelled by word of mouth, and by campaigns that have become pop culture icons, featuring celebrities such as Lil’ Kim and Paris Hilton. The new collection refreshes the positive essence of Iceberg Jeans’s heritage while looking to the future. The Iceberg Jeans Fall 2025 collection will be available at selected wholesale partners, Iceberg stores and online from June 2025.

Copyright © 2025 ANSA. All rights reserved.



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Paris Haute Couture Week celebrates young designers with Peet Dullaert and London-based Miss Sohee

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Nicola Mira

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January 31, 2025

Experimentation and innovation were the name of the game on the last day of Paris Haute Couture Week. Emerging couturiers took centre stage on Thursday, like Peet Dullaert, 35, from the Netherlands, and Miss Sohee, 28, from Korea. The latter staged her maiden couture week show, as a guest on the event’s official calendar. Dullaert and Miss Sohee unveiled Spring/Summer 2025 collections characterised by contrasting styles.

Peet Dullaert, Spring/Summer 2025 – ©Launchmetrics/spotlight

Dullaert, a Paris-based Dutch designer, showed for the first time at Paris Haute Couture Week exactly a year ago. In his third Parisian show, he juxtaposed glamourous looks with more everyday ones, like the suits and trousers sets or the black tweed maxi coat, worn back-to-front with the cuffs, pockets and buttons at the rear, which could morph into an evening dress if needed.

Dullaert’s couture looks were made from bodysuits and playsuits in tight stretch fabric, on which he added long, sheer flared skirts decorated with geometric patterns embroidered with gems, or made with swathes of silk draped directly on the body, giving the models real freedom of movement. The feeling of freedom was heightened by the use of a wrinkled high-performance fabric developed by the label.

Other looks were covered with thin tassels lined with sequins, or with crystals, with draped white and black tulle, taffeta and other glimmering silks. Dullaert’s looks were characterised by flowing volumes and silhouettes, but he didn’t shy away from intervening decisively in the garments’ construction, for example baring a shoulder or cutting his dresses with long slits along the legs.

The couture show by Miss Sohee, real name Sohee Park, was eagerly awaited. The London-based Korean designer showed twice before in Paris, and was a hit on the Milanese runways in February 2022, backed by Dolce & Gabbana. She pulled out all the stops in Paris, immersing her guests in a magical universe where eras and bold silhouettes mixed spectacularly, showcased inside the gilded halls and under the majestic chandeliers of the Pozzo di Borgo palace.
 

Miss Sohee, Spring/Summer 2025 – ©Launchmetrics/spotlight

Miss Sohee’s ladies seemed to be ready for a grand ball with their shimmering, vibrantly coloured crinoline dresses, satin sheath dresses glittering with pearls, and statement coats whose long trains were ornamented with embroidered bucolic scenes, like a golden peacock or floral branches, rich in crystals and sequins. Looks worthy of the Venice Carnival.
 
Botticelli’s Venus seemed to have inspired Miss Sohee, scallops and seashells being among the key elements in her collection. A large shell rose like a fan at the back of a corset which extended into a long, faded-pink silk skirt. Elsewhere, shells encased the hips in two short bustier dresses in python and crocodile-effect leather, or added length to a bustier entirely decorated with gems that was sewn onto a tulle top dotted with mother-of-pearl drops.
 
Shells embroidered in small patterns featured on a silk duchesse dress, and more shells in silver pleated fabric turned into a micro hooded jacket over a Fantômas-style black velvet jumpsuit, with a double row of white pearls draped around the waist.
 
Nothing seemed too precious and extravagant for Miss Sohee’s ladies, who also wore more contemporary outfits consisting of lace jumpsuits, miniskirts and laced thigh-high boots. Park founded her label in 2020, after studying at Central Saint Martins in London, and her customers include scores of celebrities, among them names like Cardi B. and Bella Hadid.
 

Copyright © 2025 FashionNetwork.com All rights reserved.



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Almost all Britons are now shopping in physical stores

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January 31, 2025

All hail physical retail. The demise of the high street store predicted in the early pandemic period was wide of the mark as a near nine out of 10 of Britons visited a retail destination during October and November.

Photo: Pixabay/Public domain

In fact, 88% now shop in-store, an amazing increase of 86.1% since last May. And it’s been heavily influenced by workers increasingly returning to city and town centre offices as well as consumers aged under 35. 

That’s according the the latest Consumer Pulse Report by MRI Software/Retail Economics showing “high streets remain the lifeblood of the retail ecosystem”, leading in visitor frequency with an average of 2.2 visits per person per month “reinforcing their importance as destinations that bring people together.”

The survey reveals that 31% of office workers play a key role in high street retail, with visits peaking during lunch hours while 33% of them choose to visit after 5pm on weekdays, particularly Tuesdays and Wednesdays which have become the popular days to venture into the office. 

“As return to office becomes more widespread, the retail sector has an opportunity to maximise engagement and sales by leveraging these insights and presenting itself as a convenient shopping option for the hybrid workforce”, the report highlights.

Working from home is increasingly becoming a non-starter for many businesses with regular news stories about major companies insisting that their staff returned to the office full-time or at least three or four days a week.

Further, the under-35 demographic is increasingly motivated by experiential retail opportunities. 

In November, this age group averaged 9.5 visits to physical retail destinations, more than double the frequency of those aged 55 and over. 

Interestingly, the rise of social commerce, which enables shoppers to make purchases within social media apps such as TikTok and Instagram, “is likely influencing footfall into physical retail destinations and creating opportunities for in-store experiences”, the study claims.

Jenni Matthews, marketing & insights director, MRI Software, said: “The latest findings depict a retail sector that continues to adapt and remain relevant as consumer behaviours shift.

“With 88% of the UK population visiting retail destinations and under-35s driving experiential trends, it’s clear that physical retail remains a powerful touchpoint for engagement.

“Retailers have an incredible opportunity to leverage these insights, not just to meet consumer expectations, but to exceed them by creating vibrant, immersive destinations that align with changing consumer behaviours.”

Copyright © 2025 FashionNetwork.com All rights reserved.



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