Corporate and M&A – Page 6
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ArticlePittarosso’s debt restructuring plan cleared by Italian court
A Padua-based court has approved a composition with creditors presented by Pittarosso. At the end of last year, 93 percent of creditors had approved the plan presented by the Italian footwear retailer with the support of Responsible & Sustainable Corporate Turnaround Fund (RSCT). Established in 2020, RSCT is an Italian ...
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ArticleGolden Goose valued up to €1,860m in IPO price range
Golden Goose Group set a price range of €9.50 to €10.50 per share for its initial public offering, implying a market capitalization of approximately €1,693 million to €1,860 million for the company. The offering is destined to institutional investors and will consist of newly issued shares arising from a capital ...
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ArticleHow Belledonne is achieving sneaker success by revisiting retro styles
With a claim as bold as “We do sneakers. We do them well”, Antonin Chabanne and Mikael Leo, who established Belledonne Paris in 2018, were setting their sights high. Since their company name derives from the Belledonne range of mountains in the Dauphiné Alps of southeast France near Grenoble ...
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ArticleDesigner Brands expands in Canada as Q1 sales inch up
Designer Brands returned to modest sales growth in its first quarter ended May 4, as it bolstered its presence in Canada with the acquisition of the Canadian footwear retailer Rubino and its 28 stores. “Rubino currently operates stores that offer nearly identical atmospheres and assortments to that of our own ...
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ArticleCreditors approve Galeria’s restructuring plan
Another hurdle has been cleared on Galeria Karstadt Kaufhof’s path to recovery. The creditors of the troubled German department store chain approved its pending reorganization plan, insolvency administrator Stefan Denkhaus said on following a creditors’ meeting. The clearance is a significant step towards the completion of Galeria’s insolvency proceedings, ...
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ArticleGolden Goose plans listing on Milan stock exchange in June
Golden Goose, an Italian fashion brand known for its premium sneakers, said that it plans to hold an initial public offering (IPO) on the Milan stock exchange consisting of existing shares held by Astrum, its sole shareholder, and newly issued shares stemming from a capital increase. The brand will use ...
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ArticleShoes For Crews obtains court approval to sell its assets
Shoes For Crews said that on May 24 it received approval from the United States Bankruptcy for the District of Delaware for the sale of substantially all of its assets to its first lien secured lenders via a stalking horse credit bid. The sale will eliminate more than $300 million ...
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ArticleBoohoo U-turns on executive bonuses after investor outrage
Boohoo has been forced to climb down over plans to pay three of its top executives £1 million (€1.17m) each in bonuses after shareholder anger over widening losses and missed performance targets. The directors, including co-founders Mahmud Kamani and Carol Kane, along with Chief Executive John Lyttle, were in line ...
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ArticleArklyz completes the acquisition of Lloyd Shoes
The Swiss sports and lifestyle firm Arklyz AG has completed the takeover of the German premium footwear brand Lloyd Shoes, including all its subsidiaries, from Ara AG. The financial terms of the deal were not disclosed. With the acquisition of the German shoe manufacturer, Arklyz adds another footwear brand ...
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ArticleGaleria Karstadt Kaufhof investors to pledge up to €100m, plan overhaul with store closures, name change
Galeria Karstadt Kaufhof’s new owners are poised to inject up to €100 million in the company to revamp its remaining department stores over the next two to three years, according to media reports. The insolvent retailer sees Sunday shopping as a cornerstone of its restructuring efforts, according to the ...
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ArticleTecnica Group is working on a 5-year business plan
Tecnica Group is working a on five-year business which could lead to an initial public offering, according to the Italian newspaper Il Sole 24 Ore. In 2023, the Italian group, which owns the brands Tecnica, Nordica, Blizzard, Lowa, Moon Boot and Rollerblade, posted sales of €540 million and adjusted Ebitda ...
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ArticleGörtz moves to new headquarters
The Hamburg-based shoe retailer Görtz is leaving its current headquarters in the Hanseatic city’s Semperhaus on the Spitalerstraße, on the fourth and fifth floors of the historic Kontorhaus district building, and moving to a new, smaller location following a downsizing of its workforce. The new headquarters are located a ...
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ArticleMajo-Schuhe takes over three MyShoes stores
The family-run company Majo-Schuhe has acquired three stores from the footwear retailer MyShoes, a spokesman for the latter’s parent company Deichmann said, according to media reports. The takeover of the stores in Bad Vilbel, Friedrichsdorf and Groß-Gerau, in the Rhine-Main area, secures the jobs of 44 of the employees ...
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ArticleTheo Henkelman Footwear buys Bullboxer trademark rights for Europe
The Dutch footwear group Theo Henkelman Footwear has acquired the trademark rights to Bullboxer in Europe. The move marks the end of months of uncertainty for the Dutch brand, after in February the previous parent company, Unlimited Footwear Group (UFG), filed for bankruptcy. With the acquisition of the ...
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ArticleUS regulator moves to block Tapestry’s acquisition of Capri
On April 22, the US Federal Trade Commission (FTC) decided to sue to block Tapestry’s $8.5 billion acquisition of Capri Holdings. However, the companies plan to defend their case in court and to complete the transaction by the end of 2024. “If allowed, the deal would eliminate direct head-to-head competition ...
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ArticleJD Sports to buy Hibbett for about $1.1bn
JD Sports has entered into a binding agreement to acquire the Nasdaq-listed retailer Hibbett at $87.50 per share in cash. The bid implies an equity value of $1.083 billion (£878 million) and an enterprise value of $1.109 billion (£899 million). JD Sports expects to fund the transaction, and refinance Hibbett’s ...
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ArticleAllbirds urged to bolster its share price by Nasdaq
On April 2, Allbirds was notified by Nasdaq that its share price was no longer compliant with the rules of the New York-based stock exchange because the closing bid price of its Class A common stock has fallen below $1.00 per share for 30 consecutive days. Allbirds has 180 calendar ...
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ArticleFormer Kaufhof owner reportedly taking over Galeria Karstadt Kaufhof
According to the German business publication Handelsblatt, the US investor NRDC Equity Partners is to be granted the contract to operate the 92 locations of the German department store chain Galeria Karstadt Kaufhof. NRDC is the investment company of Canadian entrepreneur Richard Baker, who also owns a majority stake in ...
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ArticleDr. Martens urged to undergo a strategic review
Marathon Partners Equity Management is urging Dr. Martens to undergo a strategic review, including a potential sale of the company, to maximize shareholder value. The share price of the British bootmaker is down sharply since it was floated on the London Stock Exchange in January 2021. On April 4, Dr. ...
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ArticleLevi’s to exit the footwear business
Levi Strauss & Co, which is known for its Levi’s brand, has decided to wind down its footwear business as it streamlines its organization to bolster efficiency and profitability thanks to the Project Fuel initiative launched in January. “And after a strategic review of our categories, we have taken the ...
