Business News December 2018

TFL publishes every month business news with focus on the leather industry, on a worldwide basis.

India is the world’s second biggest shoe consumer

In 2017, India has overtaken the US und thus became the world’s second biggest shoe consumer. China remains in the pole position of the ten biggest shoe customers, which contain three other Asian countries: Pakistan, Japan and Indonesia. These five Asian countries account for almost 40 percent of the world’s consumption.

Lenci closes down

The Italian shoe manufacturer Lenci Calzature Spa is closing down. As the enterprise from Montecarlo in Tuscany announced, it will end all operations. The 70 remaining employees have been given notice already. Already in November of previous year, first crisis meetings were held between the management and trade union representatives. The sales crisis in the branch was the main cause for the closure.

Alexander Nicolai becomes CEO of Lowa

Lowa sport shoes Ltd will expand its top management as of next year. As of the 1st January 2019, Alexander Nicolai (43) will manage operations of the outdoor enterprise as CEO. Werner Riethmann will remain in the management for another two years. He will, however, gradually retreat from the operative daily business.