Corporate and M&A – Page 9
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ArticleSberBank pulls out of the EU
The Russian leader SberBank is withdrawing from the European market, after being hit by massive financial sanctions in retaliation for Russia’s invasion of Ukraine. “Sberbank has decided to withdraw from the European market. The group’s subsidiary banks face abnormal outflows of funds and threats to the security of their employees ...
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ArticleScarpe & Scarpe plans to continue on its own
The Italian footwear retailer Scarpe & Scarpe, which is currently under a creditor protection scheme, plans to remain independent. The company will outline its business plan and debt repayment proposal to creditors on Feb. 28. The retailer was created in 1961 in Turin and currently has 137 stores across Italy. ...
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ArticleHow supply disruption, inflation impact Valleverde’s international expansion
Valleverde, the Italian brand of comfort shoes, was a household name in its home country, underpinned by a vast network of directly-operated and franchised mono-brand stores and high-profile advertising campaigns featuring domestic and international celebrities such as the winners of the Miss Italia beauty contest and the Hollywood star Kevin ...
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ArticleExpo Riva Schuh parent invests €25m to upgrade its exhibition center
Riva del Garda Fierecongressi is investing €25 million to upgrade the exhibition center where is organized twice a year Expo Riva Schuh & Gardabags, the footwear and accessories exhibition held in Riva del Garda, Italy. The company has already spent €9 million to buy hall D of the exhibition complex. ...
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ArticleRussian bank takes over Stockmann to boost its e-commerce business
SberBank has signed a binding agreement to buy a 100 percent stake in the Russian fashion retailer Stockmann during the first half of 2022. The Russian bank plans to combine the retailer with its own multi-category marketplace, SberMegaMarket. The investment will be made “after conducting a comprehensive investment review” and ...
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ArticleAmerican Exchange Group acquires Aerosoles
American Exchange Group (AX Group) has finalized an agreement to acquire the assets of the luxury comfort footwear brand Aerosoles. With the takeover, AX Group will expand Aerosoles’ distribution channels and diversify the brand into new categories with the objective of reaching new audiences. “Our strategy is to have the ...
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ArticleNice Footwear buys the handbag producer Emmegi
Nice Footwear has bought an 80 percent stake in Emmegi, a producer of premium handbag located near Padua, from Gianni Mortandello and Antonella Venturini for €480,000. The purchase price is based on an enterprise value of €600,000 for the whole of Emmegi. Nice Footwear has an option to buy the ...
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ArticleHow Nice Footwear structured the takeover of Favaro
Following the initial public offering (IPO) of Nice Footwear, which completed on Nov. 18, 2021, we have carried out an in-depth study of the company’s strategy, focusing on its acquisition of Favaro Manifattura Calzaturiera in June last year and its plans to develop the Italian producer of high-end women’s shoes. ...
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ArticleAlpargatas buys a 49.9% stake in Rothy’s for $475m
Alpargatas is investing $475 million to buy a minority stake in Rothy’s, a San Francisco-based sustainable lifestyle brand, with an option to take over the company. The Brazilian group, known for its Havaianas rubber sandals, said that Rothy’s aligns with its four strategic business pillars: global, digital, innovation and sustainability. ...
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ArticleSkechers downsizes its board
Skechers has reduced the size of its board of directors to seven members, following the resignation of four current members and the addition of a new one, Zulema Garcia, who will serve on the company’s audit committee. Garcia spent 24 years at KPMG before joining Herbalife Nutrition as senior vice ...
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ArticleLi & Fung teams up with Maersk
Li & Fung, the leading Hong Kong-based sourcing company, and Maersk, the world’s largest container shipping company, have agreed to form a strategic partnership to offer a more comprehensive range of end-to-end global supply chain services by utilizing their respective resources. As part of the deal, Li & Fung has ...
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ArticleCrocs buys Heydude for $2.5bn
Crocs has entered into a definitive agreement to acquire Heydude, a privately-owned, high-growth casual footwear brand, for $2.5 billion. The U.S. footwear company, mostly known for its clogs, estimates that the acquisition will turn it into the second largest group of branded casual footwear, with forecast revenues approaching $4 billion ...
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ArticleFarfetch buys Luxclusif to bolster resale service
The British online retailer of luxury brands Farfetch has purchased the resale platform Luxclusif to bolster its resale service. No financial details were disclosed. Farfetch said that the acquisition will allow it to ”significantly accelerate” its resale capabilities through the development of key technology and service features such as automated ...
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ArticleGeox plans to return to pre-Covid sales levels in 2024
Geox expects to approach pre-Covid sales levels in 2024, when it plans to achieve sales of over €800 million compared with €806 million in 2019. The Italian footwear company anticipates to finish 2021 with sales above €600 million. The compound average growth rate (CAGR) between 2021 and 2024 is estimated ...
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ArticleSnipes buys the U.S. chain Jimmy Jazz
Snipes, the sneaker retail chain owned by the Deichmann Group, has agreed to acquire Jimmy Jazz, an American chain of sneaker stores with a hip-hop vibe and headquarters in Secaucus, New Jersey. The deal was signed on Dec. 1 and should close before the year is out. Terms remain undisclosed. ...
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ArticleClarks 2-month strike over
The troubled British footwear company Clarks has reached an agreement with about 100 workers to end a two-month strike at its distribution centre in Somerset. The deal with the Community trade union, which follows mediation with the U.K.’s Advisory, Conciliation and Arbitration Service (Acas), is understood to protect hourly pay ...
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ArticleShelving IPO plans, ABG brings in two new investors
Placing on hold its plans to go public, as previously announced in July, the Authentic Brands Group (ABG) has decided to stay private. Instead of going for an IPO at this stage, some existing shareholders will sell significant stakes in ABG to funds advised by the private equity company CVC ...
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ArticleOR Group sets up a logistics unit
OR Group, which operates the Westfalika banner, has launched a new subsidiary company to develop logistics services, which will primarily involve opening new pick-up points. The logistics company called O2 LLC will be fully owned by the group’s parent company ORG PJSC. OR Group, formerly known as Obuv Rossii, started ...
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ArticleAlpargatas sells Osklen to focus on Havaianas
Completing its reorganization, Alpargatas is divesting its 60 percent stake in Osklen, a Brazilian brand of sustainable surf- and skate-inspired clothing and footwear, to focus on Havaianas, the big international brand of rubber sandals. Alpargatas had already transferred its regional Mizuno license to Vulcabras, parent company of Olympikus, in the ...
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ArticleFashion Bank offers a credit insurance policy to shoemakers
Fashion Bank, an Italian provider of data and credit ratings for the fashion industry, has entered an exclusive partnership with the Italian export credit agency Sace to offer a credit insurance policy for the fashion industry called Fashion Hub. The insurance policy was presented for the first time at a ...
