Corporate and M&A

  • Allbirds Tree Dasher
    Article

    ​Allbirds raises $100 million in funding round

    2020-09-28T16:18:00Z

    Allbirds , the Californian brand of sustainable footwear, has closed a $100 million Series E funding round led by Franklin Templeton , alongside T. Rowe Price , Baillie Gifford , TDM Growth Partners , Rockefeller Capital Management and other investors. According to The Wall Street Journal, which ...

  • Brazil picture
    Article

    Brand reshuffle in the Brazilian footwear industry

    2020-09-28T06:28:00Z

    An asset reshuffle involving three of Brazil’s leading footwear manufacturers will result in Grendene  boosting its women’s collection, Vulcabras Azaleia  focusing on sportswear and Alpargatas  concentrating on its key brands, including Havaianas .

  • VRG Rizzo
    Article

    VRG reaches deal with creditors, to proceed with capital hike

    2020-09-28T06:28:00Z

    The board of Venue Retail Group (VRG), a retailer of shoes, bags and accessories that operates in Sweden and Norway, has decided to proceed with a Swedish Krona 94.5 million (€8.9m-$10.4m) rights issue. The Swedish company has received subscription commitments and guarantee commitments totaling approximately SEK 73.5 million (€6.9m-$8.1m). ...

  • Sioux
    Article

    Sioux completes restructuring of wholesale division

    2020-09-27T07:37:00Z

    Less than three months after filing for insolvency, Sioux GmbH successfully underwent a restructuring that will allow the wholesale business to remain part of Sioux Group . The company, which deals with shoe retailers for the Sioux Group, is being taken over by Sioux Schuh GmbH , a ...

  • Clarks
    Article

    Hong Kong’s LionRock reportedly enters Clarks bidding war

    2020-09-26T11:54:00Z

    Iconic UK shoe retailer Clarks is reportedly the target of two suitors vying to take a stake in the troubled firm. Hong Kong-based private equity firm LionRock Capital has entered the race to refinance the company, which could see the end of 200 years of majority family ...

  • TikTok
    Article

    ​U.S. delays TikTok ban to Sept. 27 as Trump gives blessing to deal with Oracle, Walmart

    2020-09-21T05:25:00Z

    The U.S. Department of Commerce said that it has delayed until Sept. 27 the prohibition of the Chinese mobile application TikTok . The department had previously announced that the ban would start today. The decision comes after U.S. President Donald Trump said he had given his “blessing” to ...

  • Article

    Klarna valued $10.65 billion in funding round

    2020-09-16T06:31:00Z

    Klarna , the Swedish provider of online payment services, raised $650 million in an equity funding round, which values the whole company $10.65 billion. Klarna claims that the valuation ranks it as the highest-valued private fintech in Europe and the 4th worldwide. The funding round was led by ...

  • MK Gruppe
    Article

    ​MK Gruppe and Merkur Shoe Group join forces

    2020-09-01T06:14:00Z

    The German purchasing groups MK Gruppe and Merkur Shoe Group have struck a deal to work together in a bid to tackle and respond to the changes in the footwear market through a shared strategy. The collaboration is set to start with the orders for the autumn/winter ...

  • Brantano Belgium
    Article

    Deichmann unit vanHaren to buy 43 Brantano stores in Belgium

    2020-08-26T15:37:00Z

    The Dutch footwear retailer vanHaren , a unit of the German retailer Deichmann , will take over 43 Brantano stores located in Belgium on Oct. 1. This represents less than half of Brantano’s more than 100 stores in the country. The details of the agreement still have to ...

  • Moscow Exchange
    Article

    Obuv Rossii parent launches capital hike to finance its development

    2020-08-25T10:05:00Z

    OR PJSC , the parent company of the Russian footwear group Obuv Rossii , is planning to place additional shares worth 2.8 billion rubles (€31.7m-$37.4m) to finance the group’s development. The company is offering 28,264,000 new ordinary shares, which corresponds to 24 percent of the previously placed ordinary shares. ...

  • ACBC shoe
    Article

    ​ACBC raises €2.3 million in capital hike

    2020-08-19T16:13:00Z

    ACBC , a Milan-based start-up company that is offering a modular footwear technology, completed a €2.3 million capital increase in which a pool of investors took part. The online investing platform Doorway put nearly €1 million into the company through the capital injection. ACBC said that it has ...

  • Moreschi shoes
    Article

    Moreschi’s relaunch is in turmoil

    2020-08-08T13:48:00Z

    The Moreschi family is seeking to block the transfer of a 50.37 percent in the namesake company to Hurley , a Swiss company run by Guido Scalfi , on the grounds that an agreement to relaunch the company is not being respected. In a statement, the Moreschi ...

  • Aktiv Schuh
    Article

    Aktiv Schuh files for bankruptcy as pandemic ravages sales

    2020-08-06T07:45:00Z

    Aktiv Schuh filed for bankruptcy at the district court of Berlin-Charlottenburg on July 23, applying for self-administration due to an impending insolvency as a result a sharp decline in sales stemming from the restrictions caused by the coronavirus pandemic. After a promising start to 2020, sales dipped from ...

  • André
    Article

    ​French court clears André’s takeover by its former CEO

    2020-08-05T07:27:00Z

    On July 28, a commercial court based in Grenoble, France, authorized François Feijoo to take over from Aug. 5 the footwear retailer André . The company filed for bankruptcy on March 23 after its owner Spartoo was unable to obtain sufficient financing to continue the business. Feijoo ...

  • HotterShoes
    Article

    ​Hotter Shoes to close 46 stores as CVA approved by creditors

    2020-07-30T17:07:00Z

    UK footwear chain Hotter Shoes will press ahead with plans to close 46 stores after creditors approved a Company Voluntary Arrangement (CVA) to restructure the firm during the coronavirus pandemic. The CVA was approved by 99.5 percent of voting creditors, including an “overwhelming majority of landlords”, passing the ...

  • Article

    Chaussea obtains 128 La Halle stores

    2020-07-27T07:18:00Z

    The French footwear retailer Chaussea is taking over 128 stores and 700 employees of the apparel and footwear retailer La Halle , which is being sold piecemeal after filing for insolvency. Founded in 1984 in Valleroy, near Metz, by Gaëtan and Michel Grieco , the sons of Italian ...

  • Scarpe&scarpe
    Article

    Scarpe & Scarpe seeks debt restructuring agreement with creditors

    2020-07-25T07:20:00Z

    The Turin-based footwear and apparel retailer Scarpe Scarpe has entered into a preliminary insolvency procedure, known pre-concordato or concordato preventivo in bianco, granting it temporary protection from creditors while seeking a debt restructuring arrangement. Usually, the procedure provides a company two to four months to reach an ...

  • Article

    Partial management buy-out for Globus

    2020-07-23T13:02:00Z

    Globus , the big Swiss department store chain, and its Navyboot and Schild subsidiaries are changing hands again, just a few months after the Austrian-based Signa Retail Group and Thailand’s Central Group joined forces to t ake over the Swiss group this past February from ...

  • Article

    Desma’s “factory of the future” is completed

    2020-07-22T08:14:00Z

    Desma Schuhmaschinen GmbH , one of the world’s leading manufacturers of machines and systems for industrial shoe manufacturing, has completed its new production and office building in just one year. The manufacturing and commercial divisions are expected to move into the new premises, which are located in Achim near Bremen, ...

  • Article

    Antares eyes distressed Italian fashion assets

    2020-07-17T07:41:00Z

    Italian private equity and debt-management group Antares is launching a new fund targeting investments among the country’s small and mid-sized financially-struggling fashion companies, whose ranks have grown with the Covid-19 pandemic. Antares has already raised €50 million in fresh cash for its “luxury and lifestyle” turnaround fund, largely ...