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Archive for February 13th, 2025

P448 Promotes Lori Sigismondo to Brand President

Sigismondo joined P448 in 2018 as chief marketing officer.

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Lori Sigismondo joined P448 in 2018.
COURTESY OF P448

P448 is continuing to bolster its leadership team.

According to the footwear company, it has promoted Lori Sigismondo to the role of brand president. She will report to Wayne Kulkin, executive chairman of P448 parent company StreetTrend LLC.

In her new role, the brand stated that Sigismondo will oversee the global strategy and execution for P448, focusing on the key initiatives of expanding its global retail presence. Other tasks will include enhancing digital channels by elevating P448’s online shopping experience and leveraging its digital marketing as well as fostering innovation, and maintaining efforts to incorporate sustainable practices across the business, the company said.

“I have always thrived in an outside-of-the-box work environment, where an entrepreneurial spirit helped lead to the best options for the business,” Sigismondo said in a statement. “And with P448 I have found that home. At P448 it’s all about community, innovation and creative vision, so I’m excited to continue to forge a path with our talented teams shining its spotlight brighter and farther within all the corners of the world.”

Sigismondo joined P448 in 2018 as chief marketing officer, where she spearheaded the redesign and relaunch of P448’s website and e-commerce platform, enhancing storytelling and global localization—including a dedicated UK site and additional sites in Australia, Canada and Mexico to launch later this year.

Sigismondo also led the opening of P448’s first mono-brand retail stores in New York City and Las Vegas, alongside successful pop-ups in Miami, Paris and Boston. She has coordinated an Asian market expansion under partnership with the Fang Group to include thus far three store openings (Beijing, Hefei and Macau) and a brand Tmall launch, and will further expand P448’s global store footprint within European markets.

Prior to joining P448, Sigismondo spent a decade at Stuart Weitzman within its marketing department, rising to her last position of vice president of retail marketing.

“Lori joined P448 with a strong background in global fashion leadership and has played a pivotal role in the brand’s growth to date,” Kulkin added. “Her strategic insight, creative vision, and ability to navigate a competitive marketplace position her perfectly to lead P448 into its next chapter. P448 is proud to be a signatory of the UN Women’s Empowerment Principles. We are committed, as a business, to advancing gender equality and women’s empowerment in the workplace, marketplace and community.”

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Shoe Price Increases Accelerated in January — And With Trump’s Tariffs, The Hikes Might Just Be Beginning

Last month, retail footwear prices increased 1.0 percent from a year ago, the most in six months.

Women's leather stylish loafers on a white background, women's summer shoes close-up. Fashionable shoes for women. Selective focus
Last month, retail footwear prices increased 1.0 percent from a year ago, the most in six months.

Shoe prices began to rise in January after ending 2024 with modest movement, according to the latest data from the Footwear Distributors and Retailers of America (FDRA).

Last month, retail footwear prices increased 1 percent from a year ago, the most in six months, the FDRA noted. This came as prices rose year-over-year across all three target markets. Prices for children’s shoes were up 0.1 percent, men’s increased 1.1 percent and women’s footwear climbed 1.2 percent in January.

In fact, the FDRA said that children’s footwear prices rose for the fourth straight month, men’s footwear prices climbed eleven of the last twelve months, and women’s footwear prices expanded the most in seven months.

“The acceleration in retail footwear prices came as overall inflation sped up and duties paid on footwear imports grew at double-digit year-over-year rates for the fourth straight month,” Gary Raines, chief economist at FDRA, told FN. “The long-term co-movement between trends in duties paid on footwear imports and retail footwear prices is well established.”

This latest increase in shoe prices is just the beginning if President Trump’s heightened tariffs on China remain in place. As for when these increases may hit consumers, FDRA president and chief executive officer Matt Priest told FN last week that they could come as soon as back-to-school.

“If you think about orders being placed and the need to bring in more product for back-to-school, I can envision that’s when these increases may occur,” Priest said. “The other problem is that tariffs are being added on everything from China, so there is a broader concern about disposable income for working families. Their budgets are already stretched, so to add this extra layer it is going to cost more for families with less discretionary income when they look to buy things like footwear.”

But for now, Raines added that action needs to be taken to mitigate further increases. “As inflation and footwear prices reaccelerate, now is not the time for the new administration to impose even higher duties on America’s largest footwear suppliers, saddling consumers with even higher prices,” Raines said.

January’s movement in footwear prices comes at the same time the Bureau of Labor Statistics reported that overall inflation accelerated for the fourth straight month.

The bureau’s latest Consumer Price Index (CPI), a broad measure of goods and services costs across the U.S. economy, saw prices increase 0.5 percent on a seasonally adjusted basis in January, after rising 0.4 percent in December. Prices were also up 3.0 percent over the last 12 months, the fastest in eight months.

Excluding volatile food and energy costs, the core CPI rose 0.4 percent in January and increased 3.3 percent over the same time last year.

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Steve Madden Snaps Up Kurt Geiger for $360 Million

The London company has been owned by Cinven Group since 2015.

Trafford Centre, Manchester, ENGLAND - September 2023: Kurt Geiger External Store Sign (Photo by Peter Dazeley/Getty Images)
Kurt Geiger’s Manchester England store.
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In a surprise move, Steve Madden is snapping up Kurt Geiger for 289 million pounds in cash, or $360 million at current exchange.

Kurt Geiger’s private equity parent Cinven was first said to be considering a sale of the company back in 2023.

“With this acquisition, we are excited to add Kurt Geiger London, a brand that has exhibited exceptional growth over the last several years. [Its] unique brand image, high-quality and statement-making styles and compelling value proposition have driven success across multiple product categories, led by handbags,” said Edward Rosenfeld, chairman and chief executive officer of Steve Madden in a statement.

The CEO lauded the Kurt Geiger brand’s international following, focus on accessories and emphasis on direct-to-consumer channels, noting the business was complementary to Madden’s existing portfolio.

In a surprise move, Steve Madden is snapping up Kurt Geiger for 289 million pounds in cash, or $360 million at current exchange.

Kurt Geiger’s private equity parent Cinven was first said to be considering a sale of the company back in 2023.

“With this acquisition, we are excited to add Kurt Geiger London, a brand that has exhibited exceptional growth over the last several years. [Its] unique brand image, high-quality and statement-making styles and compelling value proposition have driven success across multiple product categories, led by handbags,” said Edward Rosenfeld, chairman and chief executive officer of Steve Madden in a statement.

Emily Ratajkowsi Soaks Up the Sun in Palm Springs for Kurt Geiger’s Latest Campaign

The CEO lauded the Kurt Geiger brand’s international following, focus on accessories and emphasis on direct-to-consumer channels, noting the business was complementary to Madden’s existing portfolio.

Cinven bought Kurt Geiger back in 2015 in a deal with Sycamore valued at $372 million. Since then the company has focused on building its namesake brand, with major expansion in the U.S. and other markets.

“While we’ve delivered remarkable growth in recent years, we believe we are in the early stages of our growth journey, with significant expansion opportunities available to us,” said Kurt Geiger CEO Neil Clifford. “With its global infrastructure and proven track record of supporting and growing its brands, we believe Steve Madden is the right strategic partner to help us reach our potential.”

The companies said in a statement that Kurt Geiger’s revenue was $400 million pounds for the 12 months ended Feb. 1. In addition to its core brand, the company operates department store concessions at department stores across the U.K., including Harrods and Selfridges.

Steve Madden, founder and creative and design chief of his eponymous firm, marveled at how far his company has come in the past 30 years.

“When I started this company in 1990, I never dreamed we would be where we are today. Owning Dolce Vita, Betsey Johnson and ATM Collection, and now being able to partner with Kurt Geiger, is one of the great accomplishments of my career. The brand is doing better and better every year, and the opportunity to collaborate with them is thrilling. I get goosebumps just thinking about it,” he said.

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