Three down situation, domestic shoe factory feel pressure! The 10th successful acquisition by a well-known shoe group

The global shoe trade is shrinking

Domestic shoe manufacturers feel pressure!

Recently, China Business Daily reported:

According to customs statistics, in 2023, China's footwear exports show a "quantity, export volume and average unit price" three drops.

"This is mainly due to a decline in footwear consumption abroad and increased competition from overseas factories."

Ma Yuntao said that in this context, on the one hand, domestic enterprises need to increase their efforts to go to sea; On the other hand, we should also explore innovative models in the domestic market and carry out differentiated competition.

According to the statistics of the General Administration of Customs, in 2023, China exported a total of 8.91 billion pairs of footwear products, with exports of 49.34 billion US dollars, down 2.5% and 12.6% respectively. The average unit price of export products was $5.5 / pair, down 10.4% year-on-year.

This situation, so that domestic shoe enterprises feel pressure. Some industry analysts said that mainly due to the impact of the epidemic, overseas markets in 2022 purchased too many shoes from the domestic market, insufficient sales, and excess overseas inventory was transmitted to 2023.

Even so, from January to June this year, the number of Chinese shoe exports was 4515.24 million pairs, an increase of 10.47 million pairs compared with the same period last year, an increase of 3.5%; Exports amounted to US $2341,7166 million, a decrease of US $1652,216 million compared with the same period last year, a decrease of 5.4%.

At the same time, the average export price of Chinese shoes and boots in June 2024 was $5.10 / pair.

"The decline in the amount of orders shows that our trade structure has changed, the former buyers tend to be middle and high-income Europe and the United States, and now exports tend to 'Belt and Road' countries or transit trading countries." Behind international trade is the competition of international relations, and the shoe industry should be examined and planned in combination with the international business environment." Shoe and hat industry expert Ma Gang analysis said.

A&F or after eight years

Return to the Hong Kong market

Us clothing retailer Abercrombie & Fitch is considering a return to Hong Kong eight years after exiting the market, with the brand interested in leasing two large stores in Causeway Bay's Hysan Place and New Town Plaza, according to sources.

Abercrombie & Fitch opened a flagship store in Hong Kong in 2012 before closing it in 2016. In the second quarter of this year, the group reported a 21% jump in sales to $1.13 billion and an increase in profit to $133 million.

Munro Footwear Group acquires The Trybe

Expanding its presence in the children's footwear industry

Munro Footwear Group has acquired children's footwear retailer The Trybe, the group's 10th acquisition in a decade.

The Trybe, a children's footwear marketplace launched five years ago by Accent Group, offers a wide range of children's shoes from global brands such as Nike and Asics, as well as other popular brands.

The brand currently has 16 stores in Australia as well as its e-commerce platform.

The sale of The Trybe was the highlight of Accent Group's FY24 results announcement, reflecting the company's strategic focus on core and growth brands, particularly in its children's footwear segment, Including The Athlete's Foot, Skechers, Platypus and Hype DC.

Liam Robson, Managing director of Accent Group Trends, is pleased with The transition and says Munro Footwear Group is well positioned to lead The Trybe into its next phase of development.

The acquisition includes the retention of all retail employees and several support office team members.

Munro Footwear Group, which acquired baby footwear brand Bobux last year, sees The Trybe as an important addition to its portfolio to boost its market share in children's footwear.

Co-ceo Marcus Bartlett stressed The importance of understanding and protecting The Trybe brand as they plan to expand the reach of their current 16 stores.

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