The global footwear market is expected to reach a value of $216 billion by the end of 2019, with leading brands including Adidas, New Balance, Nike, Puma and VF Corp, the parent company of Timberland and The North Face.
The US group, owner of Timberland, Vans, 7 for all Mankind, The North Face and Eastpak, closed the quarter with a revenue of nearly $3.613 billion. Sales grew by 3%, equivalent to 8% at a constant exchange rate.
The manufacturer of high-end cycling apparel Vulpine hopes to raise £500,000 in return for 9.09% of its company, as it looks to expand into the US and Asia. In three days it has raised 50% of its target.