Italian Leather Industry Faces Challenges & Indian Sneaker Marketplace Startup Raises $2 Million in Seed Funding

Qatar Royal Family Buys 10% Stake in Kothari Industrial Corporation Ltd & Leather Fashion Show 2025 Coming to Chennai on February 1st

Good Morning & Welcome to our weekly newsletter! Here, we bring you the entire week's global news, insights, market research & analysis, expert insights and facts from the "leather, footwear, and leather goods" industry.

In a simplified and easy-to-understand manner, saving you time while keeping you informed and updated.

In case you missed it, here’s a look at what happened in the Global Leather & Footwear Industry last week.

LEATHER INDUSTRY NEWS

Italy’s iconic leather sector is facing tough times. UNIC reports an 8.5% drop in production and a 4.1% dip in revenue in the first nine months of 2024 compared to 2023. Exports of finished leather fell 2.7% in value and 5% in square meters. While key markets like France (+3%) and Spain (+20%) grew, others like Turkey (-20%) struggled.

Brazil's hides and skins exports reached $108.6M in November 2024, marking a 21.6% increase YoY. Exports saw significant growth in volume, with 18.9 million square meters shipped (+42%) and 59.8 thousand tons exported (+62.5%). China remains the top destination, while Vietnam experienced a remarkable 88.2% rise in export value. Meanwhile, Italy faces challenges with reduced tanning sector activity due to automotive order cancellations.

Egyptian PM Mostafa Madbouly’s visit to Robbiki Leather City marks a game-changer for the country’s leather industry. From relocating 195 tanneries to targeting $1 billion in annual exports, Robbiki’s ambitious plan is set to revolutionize leather production in Egypt.

In a breakthrough for the Sialkot Tannery Zone, SCCI President Ikram-ul-Haq confirmed plot allotments for nine tannery owners, following 100% payment submissions. Three plots were surrendered, creating new opportunities. Don’t miss the full update on deadlines and next steps for applicants.

Tandy is selling its Fort Worth headquarters, distribution center, and flagship store to Colonna Brothers. Operations will continue under lease until September 2025, with plans for a modernized facility. A portion of the proceeds will go as dividends to shareholders

LATAM Airlines is upgrading 24 aircraft with 6,910 recycled leather seats, cutting carbon emissions by 60% and water use by 55%. This move aligns with their goal of zero waste to landfills by 2027, showcasing their commitment to a greener future.

Mark your calendars! The Indian Finished Leather Manufacturers and Exporters Association (IFLMEA) is hosting the LEATHER FASHION SHOW 2025 on 1st February 2025 at Hotel ITC Grand Chola, Chennai. Held alongside the India International Leather Fair (IILF) 2025, this grand event will unveil the Spring/Summer 2026 trends with stunning leather garments, chic footwear, and more.

FOOTWEAR INDUSTRY NEWS

KICL, based in Chennai, has announced a 10% share acquisition by FJ Global and Investment, owned by Falah Jassim J.M. AL-Thani of the Qatar Royal family. The deal involves 7,056,000 shares at ₹25 each. KICL’s promoter, Rafiq Ahmed, will retain a 47% stake. The company also plans….

Culture Circle, a sneaker-focused ecommerce platform, raised $2 million in seed funding, led by Info Edge Ventures. The platform, which connects buyers and sellers of high-end sneakers and streetwear, now operates in six international markets and boasts over 4,000 sellers. With a target of INR 50 crore in revenue for FY25, the startup is capitalizing on the growing demand from Gen Z. Sneakers account for 60% of its revenue, and it's targeting an IPO in 3-5 years.

Merrell, under Wolverine WorldWide, has named Noreen Naroo-Pucci as its new VP of Global Product Design. With over 30 years of experience at top brands like Under Armour and Calvin Klein, Naroo-Pucci is set to steer Merrell's evolution from an outdoor brand to a modern lifestyle brand. Merrell’s growth continues, with a 1.4% increase in sales to $159.2 million for Q3 2023.

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Written & Published by Arshad | Leathernews.org

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