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

Virgio, Ola Electric offer sustainable festive deliveries

Sustainable fashion brand Virgio has partnered with Ola Electric to offer eco-friendly doorstep deliveries of its products during the festive…

1 hour ago

Kingpins pop-up highlights denim innovation

Kingpins Hong Kong hosted its second annual pop-up event at the DX Design Hub, putting the spotlight on denim innovation…

1 hour ago

AATCC, TAI partner to strengthen Indian textile industry

The American Association of Textile Chemists & Colorists (AATCC) has signed a Memorandum of Understanding (MOU) with The Textile Association…

2 hours ago

Under Armour partners to develop microfibre release test

Under Armour, Hohenstein and PPT Group, has introduced a standardised method to measure microfibre release from textiles during simulated washing…

1 day ago

RISE for Impact advances work standards in the cotton supply chain

The RISE for Impact project is collaborating with farmers in the cotton supply chain to promote decent work by integrating…

1 day ago

Cosmo first launches advanced PPFs for vehicle exteriors

Cosmo First has unveiled its new range of Paint Protection Films designed to protect vehicle exteriors with advanced features ensuring…

1 day ago