Lowa aquired an important footwear supplier

German outdoor footwear brand Lowa has announced that it has acquired one of its most important suppliers. Slovakia-based Riko Sport has been making shoes for the brand since 1992.

Riko employs approximately 1,900 people in Italy and Slovakia. The addition of these jobs will bring Lowa’s total workforce to more than 2,000 people.

“Riko Sport has been producing the main share of our footwear for many years now,” Lowa CEO Alexander Nicolai said in a statement. “We would like to thank them for their dedication and excellent work throughout this entire time. By integrating Riko Sport into the Lowa Group, we will be able to intensify our work together in the future.”

The president of Riko Sport is Renzo Castellani, whose family has until now owned a 15% stake of Lowa. The brand’s parent company, Tecnica Group, has acquired this share of the business and now own’s 75% of Lowa.

“We will have a smooth transition, and we are really happy that the company is being acquired by our years-long partner Lowa, a company whose employees we really respect for their integrity and expertise,” Mr Castellani said in a statement. “We share the same business philosophy and the same roots. This arrangement also lets us safeguard our joint know-how.”

Courtesy: Sports Textiles

Recent Posts

Filo showcases ‘Made in Filo’ collection in 66th edition

The 66th edition of Filo is showcasing its “Made in Filo” collection, an initiative that transforms materials supplied by exhibitors…

5 hours ago

Circ, Shenghong to scale textile-to-textile recycled polyester yarn

Circ has partnered with Shenghong Chemical Fiber New Material to expand the commercial production of polyester filament yarn made from…

5 hours ago

Algae Scope develops seaweed-based coating for protective textiles

Algae Scope is developing a patented seaweed-derived functional powder that could provide a bio-based route to coatings for protective and…

5 hours ago

AmeriBangla launches digital marketplace to connect cotton farmers

AmeriBangla Corporation has launched CottonPort, a digital cotton marketplace designed to connect American cotton farmers with mills and buyers in…

1 day ago

SGMW scales bamboo-fiber composites across vehicle interiors

Chinese automaker SAIC-GM-Wuling has introduced bamboo-fiber-reinforced composites into interior components across more than 20 production vehicle models.

1 day ago

Zeneri launches patented sock technology to prevent slippage

Zeneri has begun production of a new collection featuring its patented three-zone knitted architecture, designed to prevent socks from slipping…

1 day ago