Corporate and M&A – Page 16
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Spain, Portugal to benefit from accelerated reshoring
The novel coronavirus Covid-19 pandemic could lead to an acceleration in the reshoring of manufacturing to Europe. Alicia Garcia-Herrera, senior fellow at the European think tank Bruegel, said in an interview with Exame magazine that the shift could be significant for countries such as Spain and Portugal. The move out ...
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André hit by coronavirus
The once flourishing André chain of urban shoe shops, which has been struggling for several years, has been placed in insolvency proceedings, protecting it from its creditors. The lockdown of its 120 stores on March 16 because of the coronavirus outbreak was the final straw, as it lost nearly €4 ...
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A good quarter at Ugg’s parent company and new plans in Europe
Deckers Brands, the parent of Ugg and other footwear brands, recorded good sales and earnings in the third quarter ended on Dec.31, once again boosted by Hoka One One, which is now selling fewer shoes in the U.S. than in the rest of the world. The group’s total revenues ...
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Another CEO for Stuart Weitzman
Eraldo Poletto will quit on March 1 as chief executive and brand president of Stuart Weitzman, the American footwear company owned by the Tapestry group, to be replaced by Giorgio Sarné. The group, formerly called Coach, acquired Stuart Weitzman in 2015 for more than $530 million, but it has had ...
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Ambitious new goals for CCC
The management board of CCC, the Polish shoe manufacturer and retailer, has announced new ambitious growth objectives through 2022. It said that it plans to increase its sales to an annual level between 8.5 billion and 9.0 billion zloties, around €2 billion, by the end of 2022. At the ...
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JD’s acquisition of Footasylum hits anti-trust hurdle
Mike Ashley, the maverick boss of Sports Direct, must be jumping with joy at getting his way with his criticism of JD Sports Fashion’s acquisition of Footasylum last April, which is again being questioned by the U.K.’s Competition and Markets Authority (CMA). The CMA launched a review of the case ...
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Spartoo acquires Easy Peasy
Spartoo has acquired Easy Peasy from the Noël group, which was put into liquidation in the autumn of 2019. The financial details of the acquisition have not been disclosed. Easy Peasy is an eco-friendly brand that makes baby booties. The brand was founded in 2008 by two young creatives who ...
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Dr. Martens’ owner buys Golden Goose for €1.28 billion
The London-based private equity firm is buying a majority stake in the Italian footwear company Golden Goose from another investment group, the Carlyle Group. The size of Permira’s investment was not released but financial sources indicated that the price tag was €1.28 billion – a price more or less equivalent ...
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ArticleEurope has become the “epicenter” of the coronavirus pandemic
The World Health Organization (WHO) has warned that Europe has now become the “epicenter” of the novel coronavirus pandemic as the virus spreads dramatically, prompting nations to totally or partially shut down their economies. On March 22, the Italian government issued a decree imposing the closure of all manufacturing ...
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Germany withstands the disease in better ways
Italy, the largest shoe manufacturing country on the continent, has suffered the highest number of deaths, followed by Spain, the second-largest producer. The official number of deaths related to the epidemic is now higher in Italy than in China, where it started last December. After Italy, Spain became the second ...
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Footway bids for Sportamore
The Footway Group, a Swedish online shoe retailer that is expanding internationally, announced on Feb. 17 that it wants to buy Sportamore, a leading Swedish online retailer of sports products. Footway has offered to pay 439 million kronor (€41.5m-$44.9m) in cash and shares for Sportamore, or a premium of around ...
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Change of control for Baldinini
An Italian investment company, Finross, is taking over the control of Baldinini, the well-known Italian shoe company. According to a local newspaper, Il Resto del Carlino, Finross, which is owned by the Rossetti family and based in Bologna, is acquiring a 60 percent stake in the 110-year-old company for €13 ...
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Shandong Ruyi fails to complete Bally’s takeover
It’s not clear at this stage whether Shandong Ruyi will be the new owner of Bally. The Chinese textile and clothing manufacturer has failed to obtain financing to complete the $600 million acquisition of the Swiss shoe brand, according to the Reuters. Bally confirmed that the deal that was announced ...
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Italian fashion groups cut costs to mitigate coronavirus impact
Tod’s, Salvatore Ferragamo, Prada and Aeffe, which are all listed companies, have announced measures to cut costs in order to mitigate the impact of the novel coronavirus epidemic, which has affected sales and manufacturing. Tod’s noted that the arrival of the novel coronavirus, known as Covid-19, has forced it ...
