Corporate and M&A

  • Clarks
    Article

    ​Clarks’ CVA gets green light amid landlord fury over rent write-offs

    2020-11-23T12:20:00Z

    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 ...

  • Von Wellx
    Article

    ​Von Wellx steps up production in India

    2020-11-18T16:35:00Z

    Von Wellx , the German orthopedic shoe brand owned by Casa Everz , has inaugurated a new production site in Agra, in the Uttar Pradesh state in northern India, as it ceases the production of footwear in China. The new factory in the Export Promotion Industrial Park (EPIP) in ...

  • l.k. Bennett
    Article

    L.K. Bennett plans to close stores, axe jobs

    2020-11-13T15:49:00Z

    Upmarket British retailer L.K. Bennett plans to close up to five stores and move its remaining shops to turnover-based rents under a proposed company voluntary arrangement (CVA). The plan will lead to a small number of job losses as the company tries to mitigate the financial impact of ...

  • VF Supreme
    Article

    VF buys Supreme in $2.1bn deal

    2020-11-10T15:56:00Z

    VF Corp. has announced a definitive agreement to acquire Supreme , a young and cool American streetwear brand that has become an iconic symbol of a countercultural approach to fashion. The transaction is expected to close before the end of 2020 and is based on an enterprise value of ...

  • Axel Arigato
    Article

    Eurazeo takes over premium sneaker brand Axel Arigato

    2020-11-09T15:46:00Z

    Eurazeo , the French investment company which recently sold its remaining stake in Farfetch , has bought a majority stake in Axel Arigato , a Swedish brand of premium sneakers, ready-to- wear and accessories for €56 million. The investment was carried out by Eurazeo Brands , a division focused ...

  • Clarks
    Article

    ​Clarks reaches £100m rescue deal with private equity LionRock

    2020-11-04T18:04:00Z

    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 ...

  • Mario Bruni
    Article

    Owner of the Mario Bruni brand fills for creditor protection

    2020-10-25T17:34:00Z

    Spring , the Italian shoe maker that owns Mario Bruni , a brand of quality dress and formal men’s shoes, has filed for bankruptcy protection in order to reach an agreement with creditors or restructure its activity. Based in the Marche region’s footwear cluster, Spring was created in 1956 ...

  • R.M. Williams
    Article

    Australian billionaire buys R.M. Williams

    2020-10-22T15:50:00Z

    An Australian billionaire, Andrew Forrest , has bought R.M. Williams , the producer of an iconic Australian outback boot, from L Catterton , a private-equity company backed by LVMH , and some minority shareholders including the Australian actor Hugh Jackman . No financial details were disclosed but the Australian ...

  • Italian flag
    Article

    New Italian fashion firm could expand into footwear

    2020-10-20T06:36:00Z

    A newly created high-end Italian fashion firm known as Florence could look to expand into footwear and other accessories in the medium term after having built up a manufacturing hub in clothing, said Francesco Trapani , the chairman of Florence and former chief executive of Italian luxury jeweler Bulgari ...

  • Chanel
    Article

    Chanel buys Italian luxury shoe maker Ballin

    2020-10-11T09:54:00Z

    Chanel has bought a majority stake in the Italian luxury shoe maker Ballin , which has its own brand and produces for third parties, including the French fashion house. The company will continue to be managed by the Ballin family and will be allowed to continue working with all ...

  • Melania logo
    Article

    Melania files for creditor protection

    2020-10-11T09:54:00Z

    Melania Italia , an Italian footwear company specializing in children’s shoes based in the footwear cluster in the Marche region, has filed for creditor protection. The company was founded in 1966 by Manfredo Gironacci , who is still at the helm. A court based in the town of Fermo ...

  • P448
    Article

    StreetTrend buys Italian sneaker brand P448

    2020-10-10T06:31:00Z

    StreetTrend has acquired the sneaker brand P448 from NoThank s, an Italian company based in Forli, and will enter it into its portfolio of footwear and fashion brands. StreetTrend is a fashion footwear and street wear brand company launched in 2017 by Wayne Kulkin , the ...

  • CCC Germany logo
    Article

    CCC Germany files for insolvency under self-administration after pandemic hits sales

    2020-10-07T16:17:00Z

    The coronavirus pandemic throws yet another footwear chain into disarray, after extended lockdowns last spring and a sluggish summer sent sales plummeting. German footwear retailer CCC Germany GmbH filed for self-administration proceedings under the German insolvency legislation at the Osnabrück District Court. The company, a subsidiary of ...

  • Adidas_Logo.svg
    Article

    Adidas issues maiden sustainability bond

    2020-10-01T07:47:00Z

    Adidas has announced the successful placement of its first sustainability bond, whose offer was more than five times oversubscribed. The €500 million bond carries a 0.00 percent coupon and has a duration of eight years. It is divided into five equal tranches and will be listed on the Luxembourg ...

  • 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 ...