Corporate and M&A – Page 6
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ArticleReno files for bankruptcy
The shoe retailer Reno has filed for bankruptcy amid a deepening crisis in Germany’s shoe sector that has led to a string of insolvencies across the country in recent months. Reno’s parent company Reno Schuhcentrum GmbH and the subsidiary Reno Schuh GmbH applied for insolvency proceedings at the Hameln ...
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ArticleHotter Shoes’ parent may be taken over by WoolOvers
Unbound Group, the owner of Hotter Shoes, is considering a bid approach from WoolOvers Group valuing the business £6.8 million (€7.7 million). Unbound said it would accept if a firm offer were made. According to U.K. market rules, WoolOvers has to make a firm by 5.00 pm London time on ...
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ArticleStella expects a decline in sales volumes in 2023
Stella International anticipates sales volumes to decline in 2023, especially in the first half of the year, driven by a decrease in orders for sports shoes. The drop is expected to be partially offset by additional customers in the luxury and the fashion categories. The Hong-Kong based footwear manufacturer and ...
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ArticleShoepassion files for bankruptcy after pandemic hit
Berlin-based footwear company Shoepassion filed for bankruptcy as sales lagged and liabilities arising from the pandemic took their toll. On March 6, the omnichannel company filed an application for the opening of insolvency proceedings under self-administration with the district court of Berlin-Charlottenburg, becoming the latest footwear company to be ...
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ArticleInsolvent Surf4shoes is taken over
The German online shoe retailer Surf4shoes has found a new owner. The company, a subsidiary of the Osnabrück-based Hamm Reno Group, filed for preliminary insolvency in September 2022 and bankruptcy proceedings were opened on Dec. 1. Commertunity, which specializes in the acquisition, development and management of brands and business ...
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ArticleRussia’s retailer Paolo Conte goes bankrupt
A Russian court has declared St. Petersburg-based footwear retailer Paolo Conte bankrupt, sparking concern over the future of small-scale players in the country. Paolo Conte operated 81 stores and was ranked sixth in the list of the largest mid-priced footwear retailers in Russia. The company started facing financial difficulties in ...
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ArticleArezzo buys the Italian brand Paris Texas
Arezzo & Co is buying a 65 percent stake in Paris Texas, an Italian brand specializing in the creation, production and sale of luxury women’s shoes. Founded in 2015 by Massimo Baltimora and Annamaria Brivio, Paris Texas is based in Monza, 20 kilometres north of Milan, and is controlled through ...
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ArticleNordstrom exits Canada
Nordstrom is exiting Canada, a market it entered in 2014 with “a plan to build and sustain a long-term business there,” announced Erik Nordstrom, the chief executive officer of the U.S. retailer. The Canadian business operates six Nordstrom stores and seven Nordstrom Rack units, as well as the Nordstrom.ca website, ...
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ArticleZalando to axe several hundred jobs
Zalando plans to cut several hundred jobs due to a more “challenging” business environment. The Berlin-based online fashion retailer employs 17,000 people. “We have decided to start a program that will remove several hundred overhead roles across many of our teams,” the company said in a message to staff. “Over ...
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ArticleSan Marina goes into liquidation
The French footwear retailer San Marina has been put into compulsory liquidation by a Marseille-based commercial court, leading to some 650 job losses in 163 stores. On Feb. 20, the court stated that no serious relaunch project had been put forward and that it had ordered the company to immediately ...
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ArticlePouyuen Vietnam to axe 6,000 jobs
Pouyuen Vietnam, one of Vietnam’s largest shoemakers, will cut 6,000 jobs due to a decline in orders, the news agency AFP reported citing a document of the labor department of Ho Chi Minh City’s local government. Pouyuen Vietnam, which is owned by the Taiwanese group Pou Chen, produces for Nike ...
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ArticleGörtz closes more stores amid heightened uncertainty
Görtz is closing more stores across Germany in a sweeping reorganization effort, after suffering a hefty sales drop during the Covid-19 pandemic. The ailing Hamburg-based footwear retailer declined to comment on the total number of stores to be closed or the number of employees affected, but according to the ...
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ArticleACBC more than doubles 2022 sales, enters partnership with Diadora
ACBC has yet to finalize its financial results for 2022, but the fast growing Italian B Corporation sneaker startup estimates that revenues grew by 130-140 percent year-on-year and Ebitda increased by 20-25 percent. “If we look at the last three years, revenues have been growing at an average of more ...
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ArticleThe upgrade of Expo Riva Schuh’s exhibition hall continues despite hiccups
Plans to upgrade the exhibition hall that hosts Expo Riva Schuh & Gardabags are progressing even though a significant portion of the project will be delayed following the bankruptcy of the construction group that had won a public tender for a large part of the works. The modernization of the ...
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ArticleDesigner Brands buys Keds from Wolverine Worldwide
Wolverine Worldwide has sold Keds, which it acquired in 2012 as part of its $1,249.5 million acquisition of the assets of the former Performance Lifestyle Group (PLG), for $83.6 million to the North American retailer Designer Brands Inc. The sale also includes the Pro-Keds athleisure brand and Keds’ e-commerce business. ...
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ArticleGo Sport France and Kookaï go into receivership
Go Sport France and Kookaï have been placed into receivership as some French retailers continue to suffer from the impact of the Covid-19 pandemic and competition from online businesses. Meanwhile, Pimkie is expected to be sold soon with the loss of about 500 jobs. On Feb. 2, 2022, a Grenoble-based ...
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ArticleZenden plans to expand its Russian retail network in 2023
Russia’s main shoe retailer Zenden announced plans to add 50 doors to its store network in 2023, taking advantage of the gaps in the market left by the withdrawal of Western brands. Currently, Zenden runs 250 brick-and-mortar stores in Russia, located primarily in the largest cities of the European part ...
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ArticleThe Danish trade show CIFF buys its rival Revolver
Two major Danish fashion trade fairs are merging as Copenhagen International Fashion Fair (CIFF) acquires its rival Revolver effective from summer 2023, in a move aimed at strengthening Copenhagen’s position as Scandinavia’s fashion capital. While Revolver employees will relocate to CIFF’s headquarters at the Bella Center in Copenhagen, from ...
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ArticleShoe retailer Schuh-Oase files for bankruptcy
The German footwear retailer Schuh-Oase has filed for bankruptcy, the latest of many shoe companies caught in a wave of insolvencies that has been gathering pace in Europe’s biggest economy. The coronavirus pandemic led to a significant drop in sales over the past two years and took its toll ...
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ArticleC-Suite interview: NeroGiardini aims to double in three years its sales from the Covid-19 trough
After three difficult years, that led to a significant reduction in sales, NeroGiardini is focusing on new markets to sell its wholly Italian made footwear. This year the Italian company will be entering the South Korean market.
