Fila Holdings has announced an enhanced shareholder returns policy and alongside this has also revealed the basics of its results for 2024.
Fila
The South Korea-based company that owns Fila, among other brands, called the results “robust” and said they were driven by the continued strength of its US golf subsidiary, the New York Stock Exchange-listed Acushnet Holdings Corp.
The numbers were also helped by favourable currency exchange rates, and improved cost management.
The firm’s consolidated revenue reached KRW4.27 trillion (€2.9bn/£2.5bn/$4.3bn), a 6.5% year-on-year increase.
Operating profit rose to KRW 360.8 billion, up 18.9% from the previous year.
As mentioned, Acushnet was the leading light of the group with revenue growth of 7.8% year-on-year, reaching KRW3.35 trillion, “supported by sustained demand in the US golf market”.
However, the Fila division also posted a 2.2% revenue increase, to KRW917.3 billion, “benefiting from a diversified business model, including joint ventures and licensing agreements”.
As mentioned, the company announced the new enhanced shareholder return policy and has set a target of up to KRW500 billion for shareholder returns over the next three years (2025–2027), bringing the total cumulative shareholder return to up to KRW800 billion from 2022 to 2027. This marks a KRW200 billion increase from the previously stated target, “reinforcing the company’s proactive approach to capital allocation and shareholder engagement”.
Since launching its policy in 2022, the company has delivered three consecutive years of special dividends and other return initiatives.
CFO Ho Yeon (Aaron) Lee said: “With our enhanced shareholder return policy, we are reinforcing our long-term commitment to maximising shareholder value. Strong cash flows from our core businesses, including Acushnet and our strategic joint ventures, allow us to execute disciplined capital allocation strategies that drive sustainable growth and profitability.”
In a partnership that we’re told was born out of “exceptional craftsmanship and timeless elegance” Paris-based luxury footwear brand Maison Corthay is to share space at peer Cifonelli’s London Mayfair’s Clifford Street store.
Bringing together “two legendary French Maisons”, the combination presents a wider curated selection of footwear and tailoring.
The two brands said the harmonious new setting “offers a curated luxury experience, where visitors can immerse themselves in the worlds of both,” delivering harmony between a perfectly tailored suit and a crafted pair of shoes.
It makes sense in many ways with two clearly complementary labels co-existing in a space in one of the most upscale London neighbourhoods that’s a magnet for affluent locals and tourists alike.
“This collaboration in London feels like a natural extension of our shared vision. It connects us with a clientele that values exclusivity and personalisation,” said Pierre Corthay.
Corthay founded his brand in Paris in 1990 with the aim of “defin[ing] luxury footwear by merging tradition with innovation”.
Every pair is made in France and the brand offers both bespoke, made-to-measure shoes and a curated selection of ready-to-wear men’s footwear.
Meanwhile, Cifonelli stretches back somewhat further having been founded in 1880. It’s known for its precise tailoring and signature shoulder construction.
Crew Clothing is moving its HQ from Earlsfield to The Drapery, Kingston-upon-Thames. It said the new space will support the continued growth of the company, with it set to occupy a 32,000 sq ft, six floor, office.
The move will happen early next month and follows on from recent news from the brand of 17% like-for-like Q4 sales growth, and a plan to open 20 further stores in 2025.
It’s taking over three of the six floors of The Drapery, with the remaining three floors that cover around 17,000 sq ft offered on the rental market.
Crew said the opening of new headquarters “is a significant investment for the brand and further demonstrates Crew’s position as a key player in the retail sector”.
Its HR Director Rupert Hay called it a “major milestone” for the business that began “as a collection of rugby shirts, sold out of a shop in Salcombe”. And he said it “paves the way for further development in the years ahead”.
Back in January, Crew had said that as well as the 17% Q4 sales jump, the final two weeks of the trading year saw even bigger double-digit gains. And digital demand leapt 70% but with no negative impact on store demand. The company had also seen a record Black Friday period.
Spinnova, a Finnish company specialised in producing cellulose fibres free from harmful substances using paper, carton, cotton, leather and agricultural waste, has named its co-founder Janne Poranen as CEO. He takes over from Tuomas Oijala, who announced he was stepping down as CEO at the beginning of March.
Janne Poranen – Spinnova
Poranen has a PhD in Physics, and had previously been in charge of Spinnova between 2014 and 2022, subsequently serving as chairman of the board of directors. “Our organisation is currently focusing on making fibre production profitable, with a view to increasing output on an industrial scale,” said Poranen.
The new appointment comes after a pivotal year for Spinnova. In March 2024, the company announced it wanted to concentrate on selling its manufacturing technology to other industrial partners. This was followed by a financially challenging period, as production costs soared.
In 2024, the company generated revenue of €762,000. A staggering downturn compared to the €10 million generated in 2023, when Spinnova supplied industrial equipment to Finnish company Woodspin, a producer jointly set up by Spinnova with paper pulp specialist Suzano.
At the end of February, Suzano said it no longer intended to invest in a continued collaboration with Spinnova, following a reorientation of its business strategy. This led it to negotiate exclusive rights for the exploitation of the Woodspin factory. The latter is said to be able to produce 1,000 tons of fibre per year, an output capacity that still needs to be industrially exploited.
Spinnova
Spinnova was founded in 2014, and made a name for itself in 2020 by producing handbags for Bergans of Norway. The following year, it won the ANDAM Innovation Prize. It has also launched several high-profile collaborations, for example the Terrex hooded T-shirt with Adidas, as well as developing products for Puma, The North Face, Marimekko and Bestseller.