Corporate and M&A – Page 3
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ArticleHow Serafini is relaunching itself after exiting creditor protection
After seeing €3 million of credits “go up in smoke” for having sold its footwear to financially weak resellers, the Tuscan footwear company Serafini entered a debt restructuring program agreement known in Italy as “concordato preventivo di continuità”, from which it exited early 2022. Serafini was a very successful sneaker ...
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ArticleHermès could consider investments in Italian shoe, fashion suppliers
Hermès could invest in some of its Italian footwear and fashion suppliers to further integrate its supply chain, said Eric du Halgouët, the company’s executive vice president of finance. “We could consider vertical integration with investments to consolidate partnerships with some suppliers that share our standards,” he said during a ...
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ArticleArnault family’s control over LVMH now secured for decades
On Oct. 23, 2023, Jean Arnault, the son of Bernard Arnault, turned 25 ensuring that the control of the LVMH group remains in the hands of the Arnault family for the coming decades, reported the Italian daily, Il Sole 24 Ore. In Dec. 22, 2008, Bernard Arnault, the chairman and ...
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ArticleVF shareholder pushes for turnaround plan
In a presentation, California-based activist investor Engaged Capital outlined that the parent company of Vans, The North Face (TNF), Timberland, Supreme and others is suffering from bloated overhead that is driving down shareholder value and called for a more detailed turnaround plan for VF Corp. It said that the overhead ...
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ArticleFrasers to acquire SportScheck in Germany
The British retailer Frasers Group has entered into a binding agreement with Signa Retail Department Store Holding GmbH to acquire SportScheck, one of the leading sports retailers in Germany. Completion of the transaction will be subject to regularory clearance. Frasers expects the transaction to close in the first quarter of ...
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ArticleDeichmann names a new head of brand & licensing and ends the Onygo brand
The German shoe retailer Deichmann has appointed Dražen Pehar as its new head of brand & licensing, succeeding Jürgen Achenbach, who left the company in May to pursue a new role. Pehar, who has been working for the company since September, will be responsible for marketing activities for the ...
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ArticleBirkenstock valued up to $9.2bn in IPO
Birkenstock has set a value of up to $9.2 billion at the top end of the price range for its initial public offering (IPO), or more than seven times its annual sales. Birkenstock Holding Limited, which is registered in Jersey and has its headquarters in London, has filed for an ...
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ArticleReno completes partial restructuring but creditors’ claims triple
The ailing German shoe retailer Reno has completed a partial restructuring, the insolvency administrator said. “It is a positive development for a procedure that initially offered little hope of an even remotely satisfactory result,” Immo Hamer von Valtier from the InsoTreu law firm said in a statement. “By ...
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Articlea.k.a Brands in 1-for-12 reverse share split
a.k.a. Brands Holding Corp. will carry out a one-for-12 reverse stock split of its common stock, that will become effective on Sept. 29 at 5:01 PM Eastern Time, after the close of trading on the New York Stock Exchange (NYSE). On Oct. 2, 2023, the company’s common stock will begin ...
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ArticleBirkenstock applies for NYSE listing
Birkenstock Holding, which is registered in Jersey and has its headquarters in London, filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC). The company plans to list ordinary shares on the New York Stock Exchange under the ticker BIRK. No details were released regarding ...
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ArticleJungheinrich takes over the robotics firm Magazino
Jungheinrich, a Hamburg-based provider of logistics equipment and solutions, has taken full control of Magazino, a Munich-based robotics specialist. Magazino, which has 130 employees, was founded in January 2014 and created Toru, a robot that was developed to provide a flexible and economical automation solution in existing warehouses. It can ...
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ArticleNext hikes stake in Reiss to 72%
The British fashion retailer Next and the Reiss family have agreed to acquire a 34 percent interest in the fashion group Reiss for £128 million (€149.3m) from the private equity Warburg Pincus. Upon completion of the transaction, which is expected to take place in mid-October, Next’s holding in the Reiss ...
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ArticleWolverine sells Hush Puppies IP in China, Hong Kong, Macau, divests U.S. leather business
Wolverine World Wide announced additional steps in the ongoing streamlining of its brand portfolio, including the sale of Hush Puppies intellectual property in China, Hong Kong and Macau, and the sale of its U.S. Wolverine Leathers business. The portfolio transformation is expected to help the company become more efficient, direct ...
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ArticleFrasers increases its stakes in Boohoo and Asos
Mike Ashley’s Frasers Group has again increased its stake in Boohoo, just days after doing the same at Asos, another British fast fashion e-tailer. In two days, Frasers, the owner of Flannels and Sports Direct, among others, lifted its stake in Boohoo to 10.42 percent from 7.8 percent, meaning it ...
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ArticleBaozun to buy 51% stake in Hunter’s IP in Greater China, Southeast Asia
Shanghai-based Baozun has entered into a partnership with Authentic Brands Group (ABG) that will give it a 51 percent stake in intellectual property of the Hunter brand in Greater China and Southeast Asia. On June 2, 2023, ABG announced that it had acquired the intellectual property of the British brand ...
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ArticleKYX re-emerges as a platform for secondhand sneakers
Rising from the ashes of the sneaker subscription platform KYX World, that disappeared at the end of 2022, KYX Sneakers has reinvented itself as a platform for the resale of secondhand sneakers. The platform is launching with over 2,000 used sneakers priced between $50 and $2,000 a pair. KYX Sneakers ...
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ArticleBata India is exploring a partnership in its local market
Bata India said that it is exploring the opportunity of a partnership in its domestic market but had no developments to announce. ”We would like to inform that the company continues to explore opportunities for strategic alliance / collaborations / tie-up for the Indian market and as and when matters ...
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ArticleTapestry to buy Capri in a deal worth $8.5bn
Tapestry, the U.S. owner of the brands Coach, Kate Spade and Stuart Weitzman, has entered into a definitive agreement to buy Capri Holdings, which owns the brands Versace, Jimmy Choo and Michael Kors. Under the terms of the transaction Capri shareholders will receive $57.00 per share in cash. The total ...
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ArticleAra to sell Lloyd and Salamander
The German footwear group Ara is parting ways with its subsidiaries Lloyd Shoes and Salamander. The group announced plans to reorganize and focus exclusively on the Ara Shoes brand, which was founded more than 70 years ago and which in the past three years, similarly to many other brands ...
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ArticleAuthentic Brands Group takes over Rockport
Authentic Brands Group (ABG) is taking over the troubled U.S. footwear firm The Rockport Company, following a decision by the United States Bankruptcy Court for the District of Delaware, and will rely on Marc Fisher Footwear to develop the brand in the United States. Further partnerships for Rockport are expected ...
