CZECH REPUBLIC: Stival Ends Footwear Production
"The managers who were in charge of the shoe factory in Veseli were given a choice: either they take over the production or the company will be wound up. Rumour has it that the holding company itself will end up in liquidation and only the sales network will remain," MfD quoted an unnamed source familiar with Stival's situation as saying.
Secretary of the Czech Association of Footwear Producers (COA), Vlasta Mayerova, told MfD that Stival had been taken over by Penta Shoe.
Stival management has not confirmed the information yet. The company has not disclosed the terms of the alleged takeover, and has not commented on the future of brand name Stival either.
Stival started operating in the Czech market in 1990 and production in the newly-built plant in Veseli was launched in 1993. Since 1999 the plant has been owned by Italian company IPR which sold its 100 per cent stake to Altec Invest four months ago.
Help test our new apparel sourcing tool.
- No US rush to Myanmar despite end to sanctions
- Using worker surveys to drive supply chain change
- Investment continues in Ethiopia clothing sector
- Where does VF supply chain sit in growth strategy?
- Rana Plaza four years on – Timeline of change
- Driving ban intensifies Myanmar logistics hurdles
- Amazon wins on-demand apparel manufacturing patent
- Trump bolsters "buy American" with executive order
- Inditex, Adidas and Patagonia top ethical report
- Start-ups chosen to re-think fashion industry
- Global market review of denim and jeanswear – forecasts to 2022
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Myanmar - ISA Country Report
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Clothing Market in the Top 5 American Countries to 2021 - Market Size, Development, and Forecasts