Footwear-OCT20-P04-08 News_Footwear_Jan10_p30 19/11/2020 19:39 Page 4


NEWS


Multipronged Benefits and Soaring Demand Among Millennial Fuelling Sales of Vegan Footwear, Finds FMI


The global vegan footwear market is estimated to be valued at ~US$ 24.86 Bn in 2020 and expected to expand at 7.2% between 2020 and 2030. Millennial have emerged as a key demography for the market, demonstrating high willingness to spend on fashion apparel and footwear.


Younger generation are demonstrating impressive eco-consciousness. To an extent this is


attributable to social media influence and messages shared by celebrities and their role models across public platforms.


Consumers’ changing mind-set is encouraging them to support brands that respect their


values and lifestyle. Additionally, surging consciousness with regards to comfort, eco-friendly material, and sustainable products is favouring production and sales of vegan footwear.


Report studies various factors enabling growth. It also uncovers hidden opportunities for the market players. Some of the key takeaways from the report are:


• According to the report, behemoths such as Nike, Inc., Adidas AG, Puma SE, Under Armour, and others are incorporating various recycling programs and introducing new collections of vegan footwear with eco-friendly fires to retain the customers


• Companies are investing in product designing and innovation to establish a strong foothold in the emerging markets. Simultaneously, they are reducing their carbon footprint which is helping them to lower operating costs. These steps adopted by the companies are improving their brand perception in the market


• North America is expected to retain its dominance backed by the immense popularity of vegan fashion among millennial. The footwear manufacturing sector is witnessing a strong demand for vegan footwear in the U.S. In Europe the market will gain from the rising demand in the U.K. and Germany


• Based on product type, the shoes segment holds the highest share in the global vegan footwear market and is expected to exhibit a higher CAGR as compared to other product types


• The footwear industry is thriving immensely through increased sales via e-Commerce platforms. Online retailing is expected to gain momentum in response to the surging popularity of vegan footwear in the coming years


CAPRICE launches new website with capriceshoes.com


From now on, CAPRICE is presenting itself in the digital world with a new and sophisticated look and feel.


The Pirmasens shoe manufacturer's website has been


completely redesigned with a contemporary and user- friendly concept. A clear and structured navigation enables both end consumers and retail partners to find out about the product and innovation world of CAPRICE from the first click. The simple and elegant design focuses on the emotional appeal. Generously staged images and wide areas convey modernity and an inspiring brand feeling that reflects the high-quality standards of CAPRICE. Another important further development is the product presentation, which, thanks to optimized shoe images, stylish mood pictures and extended filter functions, gives the user a perfect overview of the varied CAPRICE collection. The area of innovation, which is firmly anchored in CAPRICE's corporate culture, is also presented in detail. In addition, the website offers a new B2B section for retail partners with all relevant information and contact options.


"The relaunch of our website is a very important milestone in the way CAPRICE is presented


and perceived on the international market. With an inspiring, fresh and modern online presence, we want to continue to create a positive brand experience for all web visitors. The quality features of our brand are perfectly presented", says Jürgen Cölsch, Managing Director of CAPRICE.


Due to the international market presence, the new website is also available in English, French, Polish and Russian.


4 • FOOTWEAR TODAY •OCTOBER/NOVEMBER 2020 www.footweartoday.co.uk


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