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Lands’ End Q4 sales hurt by new licensing arrangements, promotions

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Lands’ End on Thursday reported a 14.2% slump in revenue to $441.7 million in the fourth quarter, hurt by the changing of its kids’ and footwear product lines to licensing arrangements and promotional activity.

Lands’ End

The Dodgeville, Wisconsin-based firm said gross merchandise value (GMV) for the quarter ending January 31 decreased low-single digits. Despite the sales downturn, the firm returned to the black during the quarter, with a net income of $18.5 million, or $0.59 earnings per diluted share, compared to a net loss of $8.6 million, or $0.27 loss per diluted share in the prior-year quarter.

“Lands’ End had a strong finish to a year defined by continued positive momentum across the business. We increased gross profit dollars, expanded gross margins and grew GMV each quarter of fiscal 2024, excluding the 53rd week, resulting in a return to profitability for the full year,” ​​said Andrew McLean, chief executive officer, Lands’ End.

“Through our amazing products, robust product franchises and our evolved marketing approach, it’s clear that our strategic evolution, including considerable growth from licensing, is driving strong progress and expanding the reach of our brand.”

For the fiscal 2024 year, Lands’ End reported a 7.4% decline in sales to $1.36 billion.

Looking ahead, the company said it expects fiscal 205 revenue to be between $1.33 billion and $1.45 billion.

“Looking at 2025 and beyond, we are continuing to focus on generating improved cash flows, particularly from the prioritization of our licensing strategy and ongoing emphasis on more high-quality sales, which we expect will drive additional gross profit dollars and gross margin expansion over the long term,” said Bernie McCracken, chief financial officer, Lands’ End.

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Luxe shoemaker Maison Corthay moves in with Cifonelli in London Mayfair store share

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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.

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Crew Clothing set to open new HQ in Kingston-upon-Thames

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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.

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Sustainable fibres producer Spinnova names Janne Poranen as CEO

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Translated by

Nicola Mira

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March 25, 2025

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.

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