Corporate and M&A – Page 12
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ArticleJD Sports continues U.S. expansion with DTLR acquisition
After the recent acquisition of Shoe Palace, JD Sports Fashion continues its expansion in the U.S. with the announced purchase of a 100 percent stake in DTLR Villa. Based in Baltimore, and currently majority owned by the New York-based private equity firms BRS & Co. and Goode Capital, DTLR was ...
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ArticleBoohoo in exclusive talks to buy three Arcadia brands
The British fast-fashion online retailer Boohoo is in exclusive discussions with administrators regarding the acquisition of three Arcadia-owned brands: Dorothy Perkins, Wallis and Burton. In a filing with the London Stock Exchange, Boohoo stressed that no deal is guaranteed. The acknowledgement came after Sky News revealed that talks were ongoing ...
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ArticleDr. Martens valued up to £3.7bn in IPO
Dr. Martens is being valued between £3.3-3.7 billion (€3.7bn-$4.5bn to €4.2bn-$5.1bn) in its public offering that is already fully booked. The private equity firm Permira and other investors are selling as many as 350 million shares at 330-370 pence each (€3.73-$4.53 to €4.18-$5.08). The stake represents 35 percent of the ...
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ArticleCole Haan drops IPO plan
U.S. shoe and accessories company Cole Haan has dropped plans for an initial public offering (IPO) almost a year after filing its intention to list. In a filing to the U.S. Securities and Exchange Commission (SEC), the New Hampshire-based company disclosed it had “determined not to proceed with the proposed ...
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ArticleRocky Brands buys footwear brands from Honeywell for $230m
Rocky Brands has agreed to acquire the performance and lifestyle footwear business of the U.S. conglomerate Honeywell International for $230 million. The deal is expected to close in the first quarter of 2021. The assets acquired are The Original Muck Boot Company, XTRATUF, Servus, NEOS and Ranger brands. Thanks to ...
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ArticleSergio Rossi’s owner is reportedly considering to sell
Investindustrial, the investment fund which wholly owns Sergio Rossi, is considering selling the Italian manufacturer of luxury shoes. According to the daily Corriere della Sera, Investindustrial has hired the investment bank Rothschild to study the future strategy for the shoemaker in which it has invested €100 million between the acquisition ...
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ArticleBoohoo, Asos make moves on top U.K. brands
The British online fast fashion retailer Boohoo has acquired all of the intellectual property assets, including customer data and related business information and selected contracts, of the U.K. department store chain Debenhams, which is currently under administration, for £55 million (€75.3m-$69.1m), plus value-added tax, in cash. The purchase does ...
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Artémis invests in Goat Group
Groupe Artémis, which controls the Kering luxury group while remaining the biggest shareholder in Puma, has made an unspecified investment in the Goat Group, the online auction-based sneaker reseller. The idea is to help accelerate Goat’s growth, expanding its international reach and diversifying its business in the luxury sector, where ...
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ArticleLi Ning’s unit Viva China may take over Clarks for £51m
Chinese Olympic gold-medallist-turned-businessman Li Ning is about to take control of the British shoe maker Clarks less than a month after the iconic brand sold a majority stake to the Hong Kong-based private equity firm LionRock Capital. Li is the non-executive chairman of LionRock. Li, a former gymnastics star who ...
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ArticleDr. Martens steps forward with plans for London listing
The iconic British boot brand Dr. Martens plans to float on the London Stock Exchange as it looks to expand its offering and drive e-commerce sales. The company, whose boots and shoes were made famous in the punk era and are enjoying a resurgence in popularity today, expects an eventual ...
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ArticleClarks descendant says management failed to ‘move into 21st century’
Shoe maker Clarks failed to keep up with retail trends while shareholders prioritized dividends over investment, according to one of the family members. Galahad Clark, a descendant of founders Cyrus and James Clark, said the company failed to “move fast enough into the 21st century”, ultimately leading to a £100 ...
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ArticleClarks' shareholders approve £100m rescue deal with LionRock Capital
Shareholders of the British shoe maker Clarks have approved the £100 million (€110m - $134m) rescue deal with the Hong Kong-based private equity firm LionRock Capital. The iconic 195-year-old retailer was forced to seek financial help under a company voluntary arrangement (CVA) amid plunging sales in a weak trading environment ...
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ArticleArcadia break up starts as Australia’s City Chic buys Evans for £23 million
The breakup of Philip Green’s Arcadia retail empire has started with the £23 million (€25m - $30.6m) sale of the plus-size clothing brand Evans to the Australian firm, City Chic Collective. Deloitte, appointed as administrator after Arcadia collapsed last month, said the deal excludes physical stores, with City Chic operating ...
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ArticleKering investigated by French financial prosecutor
Kering said that the French financial public prosecutor (Parquet National Financier) has opened a preliminary inquiry concerning the company in February 2019. The French luxury goods group added that it had not previously been informed of the inquiry. The comments come following media reports about the prosecutor investigating the company ...
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ArticleJD Sports expands massively in Western U.S. with Shoe Palace acquisition
JD Sports Fashion, a British retailer and distributor of sportswear and fashionwear, has acquired the American company Shoe Palace from the Mersho family in a cash and stock deal worth over $680 million. JD Sports, through its wholly-owned holding company in the U.S., Genesis, acquired 100 percent of both the ...
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ArticleSpartoo gives JB Martin a second chance
JB Martin, a well-known French shoe company, was put into liquidation by the Paris Commercial Court on June 2, 2020. After several years of difficulties, the company suffered a death blow from the Covid-19 pandemic. Two weeks after the court ruling, its 125 employees received their letters of dismissal. The ...
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ArticleObuv Rossii undergoes rebranding as it moves away from shoes
The Russian footwear retailer Obuv Rossii is changing names to mark its diversification away from shoes. The company is removing the word Obuv (meaning shoes in Russian) from its name to become simply OR for the main operating unit and OR Group for the parent company. Even the stock ticker ...
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ArticlePeter Kaiser enters insolvency proceedings
Peter Kaiser Schuhfabrik, the German manufacturer of women’s shoes, has gone into insolvency. The proceedings were opened on Dec. 1, after the company filed an application with the Pirmasens district court on Sept. 14. Self-administration was ordered and talks with several potential investors are currently being held. Legal counsel Günter ...
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ArticleJoya expands in Austria with Passt takeover
The Swiss brand of comfort shoes Joya has strengthened its position in the Austrian market by acquiring Passt’s six stores across the country in a bid to consolidate its retail presence and further develop the brand. Established in 2008, Passt is a retailer of comfort shoes with stores in ...
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ArticleLloyd Shoe Company goes into administration after Arcadia’s collapse
On Dec. 3, London-based footwear company Lloyd Shoe Company appointed FRP Advisory as its administrator after the collapse of the British fashion retailer Arcadia. The company has concessions in several stores managed by the Arcadia group, which appointed the firm Deloitte as its administrator on Nov. 30. Lloyd is working ...
