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Reconomy names Amazon’s Zahid new Re-use CEO

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January 31, 2025

UK-based circular economy specialist Reconomy has named long-term Amazon fashion business exec Rakhshan Zahid as chief executive of its Re-use loop, effective immediately.

Rakhshan Zahidwith Reconomy chief executive Guy Wakeley

She will lead the division, made up of Advanced Supply Chain and ReBound, which offers “intelligent platforms and circular logistics through technology-led supply chain, logistics and fulfilment solutions”. 

With a career spanning e-commerce and financial services, Zahid “brings extensive expertise in driving strategic growth, operational excellence and innovation”, Reconomy said, adding: “Her passion for fostering inclusive and collaborative workplaces aligns well with Reconomy’s values”.

Over 10 years at Amazon, she’s held leadership roles in fashion and marketplace businesses, most recently leading the fashion accessories business across Europe. 

She succeeds Claire Webb who will continue in the business throughout this transition as executive chair, having been CEO and MD of Advanced Supply Chain for five years, leading the business through its acquisition by Reconomy in 2021.

Since her appointment as Re-use executive chair, Webb “has played a crucial role in the growth and success of Reconomy’s Re-use loop, including bringing together the leadership teams of ReBound and Advanced Supply Chain to facilitate closer collaboration, realise operational synergies and establish a market-leading global end-to-end returns offer”. She also led the business to open a facility in Nettetal, Germany to become a European superhub for returns and established the business’ Retail Ready service in Europe.
 
The Re-use businesses have also collaborated across Reconomy to develop its textile EPR solution to help brands and retailers comply with emerging regulations being introduced internationally. Webb now plans to pursue non-executive board-level opportunities.
 
Guy Wakeley, chief executive at Reconomysaid: “[Our] Re-use loop is one of our key divisions and counts many of the most successful, fast-growing retailers and e-commerce brands as customers. Rakhshan… brings an impressive track record and considerable experience of significantly scaling retail businesses, which will prove invaluable as we embark on the next phase of growth for Re-use. 

Jelle Schoenmaker continues as MD of ReBound and Ben Balfour continues to lead Advanced Supply Chain, also as MD.

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Fashion

Hoka-parent Deckers Outdoor’s forecast disappoints despite solid holiday quarter

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January 31, 2025

Deckers Outdoor on Thursday beat third-quarter sales estimates on robust holiday demand for its Hoka running shoes, but an in-line annual forecast caused the footwear maker’s shares to tumble 17% in extended trading.

Ugg

Hoka shoes with their oversized soles have been gaining market share from brands such as Nike in the sportswear category. The brand, which retails for up to $300 in the United States, have also enjoyed full-price sales.

This drove up the company’s third-quarter revenue by 17% to $1.83 billion, beating analysts’ average estimate of $1.73 billion, according to data compiled by LSEG. Deckers also raised its annual net sales forecast for a second time this year.

“The guidance looks pretty conservative and considering the beat, it’s bit of a negative read into the out quarter,” said Drake MacFarlane, analyst at MScience.

The popularity of the Hoka shoes and the success of the company’s Ugg boots and sandals has helped it post double-digit revenue growth for nearly seven quarters.

The company now expects annual net sales to increase about 15% to $4.9 billion, compared with its prior expectation of about 12% growth to $4.8 billion. Analysts estimated an increase of 14.9% to $4.93 billion.

Deckers expects annual earnings per share of $5.75 to $5.80, compared with its prior forecast of $5.15 to $5.25.

© Thomson Reuters 2025 All rights reserved.



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Amazon ramps up ad spending on Elon Musk’s X, WSJ reports

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January 31, 2025

Amazon.com is increasing its advertising on billionaire Elon Musk’s social media platform X, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

Reuters

The major shift comes after the e-commerce giant withdrew much of its advertising from the platform more than a year ago due to concerns over hate speech.

In 2023, Apple also pulled all of its advertising from X and has recently been in discussions about testing ads on the platform, the report said.

Several ad agencies, tech and media companies had also suspended advertising on X following Musk’s endorsement of an antisemitic post that falsely accused members of the Jewish community of inciting hatred against white people.

Monthly U.S. ad revenue at social media platform X has declined by at least 55% year-over-year each month since Musk bought the company, formerly known as Twitter, in October 2022. He had acknowledged that an extended boycott by advertisers could bankrupt X.

Musk has become one of the most influential figures following President Donald Trump‘s re-election. He now leads the Department of Government Efficiency, which aims to cut $2 trillion in government spending.

© Thomson Reuters 2025 All rights reserved.



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Ferragamo’s sales down 4% in fourth quarter, sees “encouraging results”

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January 31, 2025

Italian luxury goods group Salvatore Ferragamo said on Thursday its revenue dropped by 4% at constant currencies in the fourth quarter, flagging “encouraging results” from its direct-to-consumer sales which were overall flat in the last three months of the year.

Ferragamo – Spring-Summer2025 – Womenswear – Italie – Milan – ©Launchmetrics/spotlight

Sales in the North American region, which accounted for 29% of total revenue, were up 6.3% in the quarter.
However, the Asia Pacific area saw a 25% drop in revenue at constant exchange rates.

The slowdown in global demand for luxury goods, especially in China, has made the group’s turnaround harder.
Overall preliminary revenues reached 1.03 billion euros in 2024, in line with analysts’ estimates, according to an LSEG consensus.

“January shows an acceleration in our DTC channel’s growth, albeit supported by the different timing of the Chinese New Year and a favourable comparison base versus last year”, Chief Executive Marco Gobbetti said in a statement.
 

© Thomson Reuters 2025 All rights reserved.



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