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VF Corp’s UK and Ireland results disappoint, company cuts jobs

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2 days ago

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December 17, 2025

​VF Corp’s UK and Ireland company saw lower sales again in its latest financial year as shoppers cut back on purchases of new clothes and shoes.

Vans

The company — VF Northern Europe Limited — owns The North Face, Vans, Timberland, Eastpak, Kipling and Napapijri. It said turnover dropped 10% to £321.5 million in the 12 months to the end of March 2025, having dropped 11% in the previous financial year. In the 2022/23 year, turnover had been £401.7 million.

Operating profit also fell, dropping to £8.5 million from £14.9 million and profit before tax was down to £9.8 million from £15.5 million. It all meant net profit for the year was just £7.37 million, down from £13.69 million.

The company said that sales growth is its primary objective and it plans to invest in more owned or franchised activities, which it believes will assist such growth through the traditional channels of distribution. Increasing investment is also being channelled into training and development, focusing on improving all customer-facing activities.

The business also shed over 80 jobs during the year with a headcount cut to 623 from 709.

Two months ago, the firm’s parent company, VF Corporation, reported revenue up 2% to $2.8 billion in the second quarter of the 2026 financial year. It also reduced its net debt by 21% compared to the same period last year.

And it had reported improved business for Q1 back in July, at which point its shares jumped as the earnings report signalled that turnaround efforts were showing results. So it will be interesting to see whether the UK and Ireland ops improved in the latest year too. Unfortunately, we won’t know that for another 12 months.

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Swinger International acquires Philippe Model Paris from 21 Invest

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4 hours ago

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December 19, 2025

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December 19, 2025

Italy’s Swinger International group continues to make bold moves and, having just invested in the Etro brand alongside Rams Global and SRI Group, has also announced that it has acquired control of the sneaker and apparel brand Philippe Model Paris for an undisclosed sum.

Philippe Model Paris

The deal was signed by Swinger International, led by Mathias Facchini, and 21 Invest, the private equity fund founded in 1992 by Alessandro Benetton, which acquired a majority stake in the French brand in July 2016, when it was known as 21 Investimenti. Swinger International also owns Genny, produces the Just Cavalli collections and, as of this morning, holds a minority stake in Etro.

Philippe Model, an artist and painter, founded his eponymous label in Paris in 1978. In the 1980s, he created the innovative and highly successful ‘Elastique,’ a comfortable heeled shoe constructed with elastic straps. Throughout his career, he collaborated with leading Parisian designers and houses, including Christian Dior, Claude Montana, Lanvin, and Jean-Paul Gaultier.

The company expanded from haute couture accessories to interior design projects, and in 2008 it was relaunched as a maker of premium sneakers for men and women, with all footwear produced in Italy’s Riviera del Brenta footwear district. Its 2024 turnover is estimated by the business press at around €30 million.

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Iconix grants Umbro’s France licence for footwear and clothing to Textiss

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4 hours ago

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December 19, 2025

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December 19, 2025

From 2026, Umbro’s France business will be managed by the Drôme-based group Textiss. The company, led by Sylvain Caire and specialising in men’s underwear, notably develops its Freegun brand, as well as licensed products for Pierre Cardin and Von Dutch. Textiss is taking over Umbro’s footwear and textile licence in France, which had been held by the Royer Group for 10 years.

Textiss takes over Umbro’s footwear and textile licence for the French market – Umbro

“As owner of the Umbro brand, the Iconix Group has decided to entrust the Textiss Group with the textile and footwear licence in France from 2026, a natural evolution that continues the historic relationship between Iconix, Royer, and Textiss,” the group explained in a press release on December 19, adding that Textiss has been Umbro’s underwear and socks licensee in France for a decade.

“In agreement with the Royer Group, the licence will be subject to an organised and carefully managed transition,” said the group. “From January 2026, Textiss will manage orders for the second half of 2026, ensuring a smooth operational handover for all customers and partners.”

The American Iconix Group, a specialist in the licensed brand development model, was seeking a solution for the licence covering the key products of the British sporting goods brand it acquired from Nike in 2012. The Royer Group held the licence after taking it over in 2016.

With the French specialist in the development of footwear and sportswear brands facing difficulties, Iconix ultimately opted for the Châteauneuf-du-Rhône-based group to take on the brand’s key categories. Umbro currently outfits the Le Havre football club, HAC.

Neither the value of the deal nor details of the organisation concerning the teams that have worked or will work on the licence have been disclosed.

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Under Armour reshuffles employees who had worked on Curry brand

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5 hours ago

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December 19, 2025

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Bloomberg

Published



December 19, 2025

Under Armour Inc. has laid off two employees who worked on Stephen Curry’s shoe and apparel brand and moved others to new jobs as the athletic company winds down its partnership with the basketball star.

Stephen Curry collaborated with Under Armour on branded goods – Curry

The company is disbanding the team that worked on the brand despite plans to sell new Curry merchandise through October, according to a person familiar with the matter who wasn’t authorised to speak publicly.

A spokeswoman for Under Armour said the company doesn’t comment on personnel-related decisions. Representatives for Curry didn’t immediately respond to messages seeking comment.

Last month Under Armour and Curry announced their surprise separation, ending a yearslong relationship that had helped boost sales and draw attention to the brand. Under Armour still plans to release the Curry 13 sneaker in February and says additional colorways and apparel collections will be available through October.

The end of the tie-up adds to growing pressure at Under Armour, whose shares have fallen 45% this year. The company has been trying to stem two years of sales declines by increasing marketing and prioritising core products.

The split came after Curry and his advisers became frustrated with what they considered to be a lack of investment in the brand and sales of the division hadn’t met their expectations or the company’s, Bloomberg News has previously reported.

Under Armour has said it will incur an additional $95 million in restructuring costs in part tied to the separation.



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