Corporate and M&A – Page 10
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ArticleAllbirds rises sharply in stock market debut
Allbirds, the California-based producer of Wool Runner merino shoes and other eco-friendly sneakers and apparel sold in a direct-to-consumer mode, started trading on the Nasdaq exchange under the ticker symbol BIRD at an opening price of $21.21 per share on Wednesday, Nov. 3. That was about 60 percent above the ...
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ArticleAllbirds valued up to $2.2bn in IPO
Allbirds, the loss-making, B Corporation certified Californian brand of footwear and apparel, has set a price range of $12.00 to $14.00 dollars per share for its initial public offering (IPO), valuing the company up to $2.2 billion. The company applied to list its Class A common stock on The Nasdaq ...
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ArticleClarks distribution center strike continues over fire and rehire threat
Workers at the British shoe maker Clarks are continuing their strike action over threats to fire them if they reject new contracts on lower pay, with the company claiming it had made “significant concessions” in recent days. The strike started on Oct. 4 when more than 100 staff walked out ...
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ArticleEobuwie issues convertible bonds for SoftBank
Eobuwie, the online retailer owned by the Polish group CCC, has sold 500 million zloty (€109.4m-$129.1m) worth of bonds to SoftBank Vision Fund 2. The proceeds of the bonds will help finance Eobuwie’s international expansion. The online retailer plans to more than double its annual sales to PLN 5 billion ...
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ArticleItalian footwear industry faces 2 years of M&A activity
The Italian footwear industry could undergo a couple of years of “significant” merger and acquisition activity as foreign investors, especially French and Chinese firms, large Italian groups and investment funds seek specialized manufacturers, according to Tommaso Cancellara, general manager of the Italian footwear association Assocalzaturifici. “Foreign investors are welcome because ...
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ArticleVivarte sells Minelli to the owners of San Marina
The ailing French retailer Vivarte has sold its footwear and accessories brand Minelli to the businessmen Stéphane Collaert and Laurent Portella, who run the footwear brand San Marina. Collaert was involved in the purchase of San Marina, in February 2020, from Vivarte. Created in 1973, Minelli had been part of ...
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ArticleRizzo applies for extension of restructuring period
Rizzo Group has applied for a three-month extension to its corporate reorganization. The restructuring began on March 23 following a ruling by a Stockholm-based court and had already been extended to Sept. 23. The company has started to work on a composition with creditors. The valuation of inventories and intra-group ...
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ArticleWHP Global buys the Lotto brand, licenses it back to LSI
WHP Global, a New York-based brand management company, has purchased the global intellectual property rights of the Lotto brand from Lotto Sport Italia (LSI), which will continue to manage the brand in Italy and the rest of the EMEA region as a licensee under the leadership of its long-time CEO, ...
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ArticleGeox closes its Serbian factory
Geox is closing down its Serbian plant in Vranje due to a decline in demand for formal men’s and women’s shoes, in which the factory is specialized. The plant was built between 2014 and 2015 and became fully operational in 2016. Its construction was heavily subsidized by the ...
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ArticleNice Footwear buys Favaro Manifattura Calzaturiera
Nice Footwear , an Italian company specializing in sneakers, has taken over Favaro Manifattura Calzaturiera , an Italian manufacturer of luxury women’s shoes. No financial details regarding the transaction were released, but the company specified that it is acquiring only 80 percent of Favaro, the remaining 20 percent staying in ...
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ArticleVivarte in exclusive talks to sell Minelli
Vivarte has entered exclusive talks to sell its footwear and accessories brand Minelli to the businessmen Stéphane Collaert and Laurent Portella , who run the footwear brand San Marina . Collaert was involved in the purchase of San Marina, in February 2020, from Vivarte. Created in ...
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ArticleRizzo applies for extension of restructuring period
Rizzo Group , formerly known as Venue Retail Group , has applied for a three-month extension to its corporate reorganization which began on March 23 following a ruling by a Stockholm-based court. On April 23, the group’s wholly-owned Rizzo International also applied for corporate reorganization. In a statement, ...
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ArticleSpartoo aims to raise about €22m in an IPO
The French footwear and fashion e-retailer Spartoo intends to raise about €22 million from an initial public offering (IPO) now underway, with funds earmarked to accelerate growth of its footwear business, roll out new physical stores and invest in brand awareness. The offering of shares to retail investors runs ...
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ArticleSecond-hand marketplace Depop bought for $1.625bn
Etsy , an American e-commerce company focused on handmade or vintage items and craft supplies, is buying Depop , a London-based marketplace for the resale of fashion items, for $1.625 billion consisting primarily of cash. The transaction is expected to close during the third quarter of 2021. Depop will ...
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ArticleChaussea obtains conditional clearance to buy La Halle stores
The French competition authority has approved the purchase of 128 La Halle stores by the footwear retailer Chaussea on the condition that it sells four points of sale to guarantee consumer choice in four catchment areas. The antitrust body, called Autorité de la Concurrence, noted that Chaussea ...
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ArticleGörtz granted €28 million federal loan to weather Covid impact
The German footwear chain Görtz received a €28 million loan from the German federal government’s Economic Stabilization Fund (WSF) to weather the impact of the coronavirus crisis. The company’s funding request was approved in April, according to the ministry of economics. The ailing Hamburg-based firm was granted the ...
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ArticleLVMH hikes stake in Tod’s to 10% and triggers takeover speculation
Tod’s’ shares rose by 11.39 percent to €39.32 in trading on the Milan exchange on April 23 after the announcement that LVMH would increase its stake in the Italian footwear company to 10.0 percent, a move analysts believe could be a prelude to an eventual acquisition. Tod’s’ chairman ...
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ArticleThe Hickies brand of no-tie shoelaces is for sale
Acting in behalf of Midcap Funding XVII Trust , which is Hickies’ main lender, Hilco Streambank is seeking bids for the acquisition of the American brand of no-tie shoelaces and related assets on its website by May 20 at the latest, setting a date of May ...
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ArticleBirkenstock assigned a ‘B’ rating by S&P
The rating agency S P Global assigned a ‘B’ rating with a stable outlook to BK LC Lux Finco 1 Sàrl , the parent company of Birkenstock . The rating comes after the private equity firm L Catterton and its affiliates, including Financière Agache , the investment ...
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ArticleActivist shareholder seeks to take control of Genesco’s board
Legion Partners Asset Management , which owns 5.6 percent of Genesco ’s capital, is seeking to take control of the eight-member board of the American footwear firm with the intention of boosting the company’s earnings and share performance. Legion is proposing the election of seven nominees - Marjorie Bowen ...
