All Clarks articles – Page 2
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ArticleOVS jumps to top of fashion transparency ranking but sector progress ‘too slow’
The Italian retailer OVS jumped to the top spot in the 2021 Fashion Transparency Index published by Fashion Revolution as the global activism movement pushing for greater disclosure in fashion supply chains warned that progress in transparency in the sector generally remains “too slow”. OVS reached 78 percent of the ...
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ArticleVictor Herrero confirmed as Clarks CEO after LionRock completes deal
LionRock Capital has completed its deal to take a majority stake in the struggling British shoe maker Clarks and confirmed senior management changes, with Victor Herrero replacing Giorgio Presca as CEO after weeks of speculation. The departures of the chief commercial officer, Massimo Barzaghi , ...
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News briefs
Clarks undergoes a management shake-up
According to various sources, Clarks has undergone a management reshuffle after its takeover by the Hong Kong-based private equity firm LionRock Capital . The chief executive, Giorgio Presca , the chief commercial officer, Massimo Barzaghi , and the head of human resources, Difna Blamey , have ...
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ArticleClarks was loss-making before the pandemic
The British footwear company Clarks was loss-making before the pandemic broke out last year, according to documents filed with the British registrar of companies, Companies House . In the full year ended Feb. 1, 2020, Clarks posted an 8 percent decline in sales to £725.3 million (€827.9m-$1.0bn) as ...
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ArticleLi Ning’s unit Viva China may take over Clarks for £51m
Chinese Olympic gold-medallist-turned-businessman Li Ning is about to take control of the British shoe maker Clarks less than a month after the iconic brand sold a majority stake to the Hong Kong-based private equity firm LionRock Capital . Li is the non-executive chairman of LionRock. Li, a ...
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ArticleClarks descendant says management failed to ‘move into 21st century’
Shoe maker Clarks failed to keep up with retail trends while shareholders prioritized dividends over investment, according to one of the family members. Galahad Clark , a descendant of founders Cyrus and James Clark, said the company failed to “move fast enough into the 21st century”, ultimately leading ...
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ArticleClarks' shareholders approve £100m rescue deal with LionRock Capital
Shareholders of the British shoe maker Clarks have approved the £100 million (€110m - $134m) rescue deal with the Hong Kong-based private equity firm LionRock Capital . The iconic 195-year-old retailer was forced to seek financial help under a company voluntary arrangement (CVA) amid plunging sales in ...
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News briefsClarks’ general manager for DACH leaves
Lür Holler , who is general manager in charge of Germany, Austria and Switzerland (DACH), as well as head of sales for the three German-speaking countries and Benelux, for the British shoe maker Clarks is leaving the company at the end of the year. He has been with ...
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ArticleClarks’ CVA gets green light amid landlord fury over rent write-offs
Creditors of the British shoemaker and retailer Clarks have approved a deal that will see control of the company pass to a private equity firm amid criticism from landlords over the scale of rent write-offs. Under the proposal, known as a company voluntary arrangement (CVA), rent arrears on ...
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ArticleClarks’ landlords criticize the rescue plan’s terms
The British shoe maker Clarks has been accused of freezing landlords out of discussions over its £100 million (€110.9m-$130.0m) bailout by Hong Kong-based private equity firm LionRock Capital . Landlords are furious that despite facing large losses on rent write-offs, they will only represent 25 percent of a ...
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ArticleClarks reaches £100m rescue deal with private equity LionRock
The Asian private equity firm LionRock Capital has reached an agreement to rescue the iconic British shoe brand Clarks in a £100 million (€110.9m, $130.0m) deal that will see the founding family keep a stake in the business. The deal, which requires approval of a Company Voluntary ...
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ArticleThe casual shoe market grew by 6.0% in 2019
According to a study conducted by Shoe Intelligence in collaboration with Sporting Goods Intelligence, the branded casual footwear market grew by 6.0 percent in terms of invoiced dollars to an estimated level of $20.8 billion in 2019, in spite of strong competition from the athletic footwear brands in the disputed ...
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News briefsClarks reportedly plans to close 50 stores
The Hong Kong-based private equity firm LionRock Capital wants Clarks to reach a Company Voluntary Arrangement (CVA) with its creditors before investing into the British footwear group, according to Sky News . A CVA would enable Clarks to close up to 50 stores and renegotiate rents for ...
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News briefs
Clarks reportedly enters exclusive talks with LionRock Capital
Clarks has decided to enter exclusive talks with LionRock Capital in order to sell a majority stake to the Hong Kong-based investment firm, the news agency Reuters reported citing a source familiar with the matter. It added that LionRock prevailed in an auction process and that ...
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ArticleHong Kong’s LionRock reportedly enters Clarks bidding war
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 ...
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News briefsSuzanne McKenna manages Clarks brand
Suzanne McKenna was appointed managing director of C. J. Clark International in August and is in charge of developing the core Clarks brand in all markets. She reports to the company’s chief executive Giorgio Presca , the former head of Geox and Golden Goose . ...
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News briefsClarks celebrates its Somerset roots in new campaign
Clarks is celebrating its origins in the campaign of its autumn/winter 2020 collection called “Then. Now. Always.” The company was founded in 1825 in Street, in the English county of Somerset, where it is still based. The campaign was shot in Somerset with the contribution of 12 artists ...
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ArticleEnglish retailers reopen in a climate of caution
Non-essential stores reopened in England on June 15 amid concern that consumers will be absent, as a majority of people, 54 percent, remain opposed to the reopening. They are particularly reluctant to returning to shopping centers.
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Article
Clarks reshuffles its staff
Clarks has decided to eliminate a further 900-odd jobs around the world as part of a strategy to build a more “sustainable and successful” future for the company, placing its focus on the changing consumer needs. The new wave of layoffs follows 170 cuts already implemented at the end ...
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News briefs
Clarks temporarily closes stores in the U.K. Ireland and the U.S.
Clarks has closed all of its stores in the U.K., Ireland and the U.S. to help curb the Covid-19 pandemic. According to its general manager for the U.K. and Ireland, Joe Ulloa , store employees will continue to receive pay and benefits, and the company’s online store will remain open. ...
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