Corporate and M&A – Page 21
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ArticleWGSN sees three major consumer groups emerging from the crisis
The coronavirus pandemic has accelerated societal changes and is forcing industries worldwide to adapt to the resulting changes in consumption. Thus, WGSN has set out to predict what consumers will be looking for in the next couple of years.
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ArticleFerragamo calls back Michele Norsa as deputy chairman
Salvatore Ferragamo reformed its corporate governance and appointed its former chief executive Michele Norsa, 71, as executive deputy chairman, rekindling speculation of a possible change of ownership.
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La Halle receives 7 offers for 60% of its business
La Halle, the big French low-cost clothing, footwear and accessories retailer owned by Vivarte, will have to be sold piecemeal, while more time is being granted by a court to find a buyer for André, the more high-end shoe retailer, which is currently in bankruptcy proceedings.
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Clarks reshuffles its staff
Clarks has decided to eliminate a further 900-odd jobs around the world as part of a strategy to build a more “sustainable and successful” future for the company, placing its focus on the changing consumer needs. The new wave of layoffs follows 170 cuts already implemented at the end of ...
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J.C. Penney files for bankruptcy protection
Founded in 1902, J.C. Penney has filed for bankruptcy protection in the wake of the Covid-19 pandemic, following Neiman Marcus and J.Crew.
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Aldo Group files for bankruptcy protection to restructure
Montreal-based Aldo Group has filed for bankruptcy protection in Canada and in the U.S. as it prepares to restructure and stabilize its business after turnaround plans for its already loss-making business were derailed by the Covid-19 pandemic.
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Rohde plans e-commerce platform this year
The German shoemaker Rohde intends to launch a business-to-business (B2B) online platform this summer, followed by a business-to-consumer (B2C) site.
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Prada resumes production in Italy
Prada has launched a gradual reopening in Italy of its prototyping and sample-making departments, which are essential for developing its forthcoming footwear, leathergoods and apparel collections. It is also introducing serological testing of all employees.
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Boohoo hikes cash pile while Farfetch continues to burn cash
boohoo is building up its cash pile thanks to its highly cash-generative business model and is ready to go on an acquisition campaign. Meanwhile, Farfetch continues to burn cash.
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Caleres, Shoe Carnival boost credit lines
Caleres and Shoe Carnival expanded existing credit lines to ensure liquidity while stores remain closed during the Covid-19 pandemic.Shoe Carnival also eased the covenant on its credit agreement.
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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 ...
