Corporate and M&A – Page 5
-
ArticleCoats fully derisks its pension scheme, expects higher cash generation
Coats has de-risked its benefit pension scheme by insuring future liabilities. The move is expected to boost the group’s cash generation which can be allotted to hike investments or shareholder remuneration. The British industrial thread and global footwear component manufacturer said that the trustee of the Coats UK Pension Scheme ...
-
ArticleAsos sells Topshop and partially refinances its debt
Asos is selling 75 percent of the Topshop group for £135 million (€160m) as part of a deal with the Danish fashion billionaire Anders Holch Povlsen, who owns 28 percent of the troubled British online fashion retailer. Asos, which has faced severe headwinds amid the cost-of-living crisis in the UK ...
-
ArticleShoepassion takes over the luxury shoe platform Mybudapester.com
The Berlin-based footwear company Shoepassion acquired the online luxury shoe retailer Mybudapester.com following the insolvency of Mybudapester.com GmbH. “The acquisition of Mybudapester.com significantly strengthens our portfolio. The platform offers our customers expanded access to exclusive shoe brands, furthering our premium private brand strategy,” said Shoepassion’s Chief Executive Officer, Björn Henning. ...
-
ArticleC-Suite interview: Being listed on the stock market improved our governance - Nice Footwear
The Italian footwear company Nice Footwear was listed on the Milan stock exchange for just over a year from Nov. 18, 2021 to March 3, 2023, when it was delisted following a public tender offer (PTO) launched by the Italian private equity firm Palladio Holding to buy out the minority ...
-
ArticleEmerging designer: Socque rocks the classics
The Covid-19 pandemic that broke out towards the end of the first quarter of 2020 in Europe, and the subsequent related lockdowns, prompted many to make major life changes. Laure Chareton’s and Camille Cour’s response consisted of launching a high-end women’s footwear brand. After a decade of helping others run ...
-
ArticleBama ceases business operations, trademark acquired by Ganka
The German supplier of shoe care products and insoles, Bama, has ceased operations. Despite intensive efforts, no investor was found to keep the insolvent company running, said the insolvency administrator, Alexander Jüchser from the Lieser Rechtsanwälte law firm. Bama’s trademark rights were sold to the Canadian outdoor specialist ...
-
ArticleTJX buys a 35% stake in Dubai-based Brands for Less
TJX, a US off-price apparel and home fashions retailer, has signed a definitive agreement to buy a 35 percent stake in Brands for Less (BFL) for $360 million dollars. BFL is a privately-held company based in Dubai and is the region’s only major off-price branded apparel, toys and home fashions ...
-
ArticleRegent buys Bally from JAB
Regent affiliate acquires Swiss luxury brand Bally International from JAB, with key leadership set to remain in place.
-
ArticleTapestry’s takeover of Capri given 30% chance of succeeding
The stock market gives an about 30 percent chance that Tapestry’s planned takeover of Capri Holdings will succeed after it was challenged by the US government over concerns that the aggregation could harm competition, according to the brokerage Raymond James. On April 22, 2024, the US Federal Trade Commission decided ...
-
ArticleLolë acquires Sanuk from Deckers
Lolë Brands, a Canadian athleisure, active and outerwear brand, announced the acquisition of the outdoor lifestyle footwear brand Sanuk from Deckers Brands. In October 2023, Deckers had indicated its intention to sell the brand. In the financial year ended March 31, Sanuk’s revenues plummeted by 33 percent to $25.4 million. ...
-
ArticleEsprit’s Dutch subsidiary files for bankruptcy
The Netherlands-based division of the fashion chain Esprit has filed for insolvency with the Amsterdam court as a wave of bankruptcies continues to rock the retailer. Approximately 30 stores in the Netherlands, including Esprit stores and other retailers, still sell Esprit products. A bankruptcy administrator will explore possible solutions, ...
-
ArticleDeckers continues to be driven higher by Hoka and Ugg
Fueled by higher levels of full-price selling and double-digit sales gains for both its Hoka and Ugg brands, Deckers Outdoor reported 81 percent net income growth to $115.6 million for the first quarter that ended June 30 from $63.6 million a year earlier. The period marked the last earnings call ...
-
ArticleEsprit’s Austrian subsidiary files for bankruptcy
Esprit’s Austrian subsidiary, Esprit Handelsgesellschaft m.b.H., has filed for bankruptcy at the Salzburg Regional Court. The announcement follows the insolvency application filed in May by the parent company Esprit Europe GmbH, headquartered in Ratingen, Germany. The bankruptcy affects 12 directly operated stores across Austria and approximately 170 employees. ...
-
ArticlePölking ends insolvency proceedings
The German shoe wholesaler Pölking has completed its insolvency proceedings after 14 months of self-administration. The proceedings were lifted by the Osnabrück District Court after creditors in early May approved the company’s insolvency plan. As part of the reorganization, Pölking acquired four stores of its sister company Lemax ...
-
ArticleThailand’s Central Group takes over the rest of KaDeWe Group
The Thai conglomerate Central Group has taken full control of bankrupt German department store KaDeWe, signing a contract for the takeover of its business operations after obtaining clearance from the insolvency administrator. The financial terms of the deal were not disclosed. In April this year, the Central Group bought ...
-
ArticleAmerican Exchange Group buys Island Surf Company
American Exchange Group has bought Island Surf Company, a nautically inspired shoe brand founded in 2008. It will become a division of the White Mountain Footwear, benefitting from the brand’s existing infrastructure, sourcing expertise and retail partnerships. “We see tremendous potential with the acquisition of Island Surf Company,” said American ...
-
ArticleFootway transfers e-commerce business to new corporate group
Footway Group AB announced on July 4 that it is separating the company’s e-commerce business as part of a strategic review. The separation is in line with the Swedish company’s efforts over the last four years to split e-commerce and platform into separate business areas. The company’s platform has grown ...
-
ArticleShoes For Crews emerges from Chapter 11 process after asset sale
Shoes For Crews, a US firm specializing in slip-resistant footwear, said that it has completed the sale of substantially all of its assets to its first lien secured lenders via a stalking horse credit bid. The sale marks the company’s emergence from its Chapter 11 process. Through the transaction, the ...
-
ArticleHenkelman Footwear details its plans for Bullboxer
The Dutch footwear group Theo Henkelman Footwear has unveiled more details about its plans for Bullboxer’s future, with a revamped design team focusing on a ‘new comfort concept,’ new retail partnerships and an adjusted pricing. Henkelman said that the brand’s design team has been expanded to include former Bullboxer ...
-
ArticleGolden Goose postpones its IPO
Golden Goose Group announced the postponement of its initial public offering (IPO) “as a result of European market volatility.” “As part of the IPO process, the company has engaged widely with investors. The reception of the story has been very positive, with strong support across the investment community, including from ...
