Corporate and M&A – Page 9
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ArticleBirkenstock valued up to $9.2bn in IPO
Birkenstock has set a value of up to $9.2 billion at the top end of the price range for its initial public offering (IPO), or more than seven times its annual sales. Birkenstock Holding Limited, which is registered in Jersey and has its headquarters in London, has filed for an ...
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ArticleReno completes partial restructuring but creditors’ claims triple
The ailing German shoe retailer Reno has completed a partial restructuring, the insolvency administrator said. “It is a positive development for a procedure that initially offered little hope of an even remotely satisfactory result,” Immo Hamer von Valtier from the InsoTreu law firm said in a statement. “By ...
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Articlea.k.a Brands in 1-for-12 reverse share split
a.k.a. Brands Holding Corp. will carry out a one-for-12 reverse stock split of its common stock, that will become effective on Sept. 29 at 5:01 PM Eastern Time, after the close of trading on the New York Stock Exchange (NYSE). On Oct. 2, 2023, the company’s common stock will begin ...
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ArticleBirkenstock applies for NYSE listing
Birkenstock Holding, which is registered in Jersey and has its headquarters in London, filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC). The company plans to list ordinary shares on the New York Stock Exchange under the ticker BIRK. No details were released regarding ...
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ArticleJungheinrich takes over the robotics firm Magazino
Jungheinrich, a Hamburg-based provider of logistics equipment and solutions, has taken full control of Magazino, a Munich-based robotics specialist. Magazino, which has 130 employees, was founded in January 2014 and created Toru, a robot that was developed to provide a flexible and economical automation solution in existing warehouses. It can ...
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ArticleNext hikes stake in Reiss to 72%
The British fashion retailer Next and the Reiss family have agreed to acquire a 34 percent interest in the fashion group Reiss for £128 million (€149.3m) from the private equity Warburg Pincus. Upon completion of the transaction, which is expected to take place in mid-October, Next’s holding in the Reiss ...
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ArticleWolverine sells Hush Puppies IP in China, Hong Kong, Macau, divests U.S. leather business
Wolverine World Wide announced additional steps in the ongoing streamlining of its brand portfolio, including the sale of Hush Puppies intellectual property in China, Hong Kong and Macau, and the sale of its U.S. Wolverine Leathers business. The portfolio transformation is expected to help the company become more efficient, direct ...
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ArticleFrasers increases its stakes in Boohoo and Asos
Mike Ashley’s Frasers Group has again increased its stake in Boohoo, just days after doing the same at Asos, another British fast fashion e-tailer. In two days, Frasers, the owner of Flannels and Sports Direct, among others, lifted its stake in Boohoo to 10.42 percent from 7.8 percent, meaning it ...
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ArticleBaozun to buy 51% stake in Hunter’s IP in Greater China, Southeast Asia
Shanghai-based Baozun has entered into a partnership with Authentic Brands Group (ABG) that will give it a 51 percent stake in intellectual property of the Hunter brand in Greater China and Southeast Asia. On June 2, 2023, ABG announced that it had acquired the intellectual property of the British brand ...
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ArticleKYX re-emerges as a platform for secondhand sneakers
Rising from the ashes of the sneaker subscription platform KYX World, that disappeared at the end of 2022, KYX Sneakers has reinvented itself as a platform for the resale of secondhand sneakers. The platform is launching with over 2,000 used sneakers priced between $50 and $2,000 a pair. KYX Sneakers ...
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ArticleBata India is exploring a partnership in its local market
Bata India said that it is exploring the opportunity of a partnership in its domestic market but had no developments to announce. ”We would like to inform that the company continues to explore opportunities for strategic alliance / collaborations / tie-up for the Indian market and as and when matters ...
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ArticleTapestry to buy Capri in a deal worth $8.5bn
Tapestry, the U.S. owner of the brands Coach, Kate Spade and Stuart Weitzman, has entered into a definitive agreement to buy Capri Holdings, which owns the brands Versace, Jimmy Choo and Michael Kors. Under the terms of the transaction Capri shareholders will receive $57.00 per share in cash. The total ...
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ArticleAra to sell Lloyd and Salamander
The German footwear group Ara is parting ways with its subsidiaries Lloyd Shoes and Salamander. The group announced plans to reorganize and focus exclusively on the Ara Shoes brand, which was founded more than 70 years ago and which in the past three years, similarly to many other brands ...
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ArticleAuthentic Brands Group takes over Rockport
Authentic Brands Group (ABG) is taking over the troubled U.S. footwear firm The Rockport Company, following a decision by the United States Bankruptcy Court for the District of Delaware, and will rely on Marc Fisher Footwear to develop the brand in the United States. Further partnerships for Rockport are expected ...
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ArticleFootway applies for voluntary company reorganization due to ‘acute’ liquidity situation
Footway Group, a Swedish operator of specialized online stores, has applied for voluntary company reorganization. According to the company, the decision is based on “the very challenging conditions that the sports retail industry in Sweden and Norway has faced in recent months,” which have led to an “acute” liquidity situation. ...
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ArticleRichemont buys controlling stake in Gianvito Rossi
Richemont has acquired a controlling stake in Gianvito Rossi, an Italian luxury shoemaker. No financial details were released. Gianvito Rossi, the founder, CEO and creative director of the eponymous brand, will retain a stake in the company and continue to “nurture and develop” the brand in partnership with Richemont, the ...
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ArticleGörtz’s insolvency proceedings are over, CK Technology is the new owner
A long period of uncertainty may have come to an end for the Hamburg-based shoe retailer Görtz with the completion of insolvency proceedings and a new owner. According to the Frankfurter Allgemeine Zeitung newspaper, the district court of Hamburg has declared that all proceedings were over, with all debts registered ...
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ArticleHotter Shoes rescued by WoolOvers in £6.7m sale
Hotter Shoes has been rescued from collapse by the natural knitwear brand WoolOvers, in a pre-pack administration deal worth £6.7million (€7.7m). WoolOvers had approached Unbound Group, the parent company of the British footwear retailer, in March with an initial bid valuing the group £6.8 million but the proposal was rejected ...
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ArticleUnbound appoints administators to sell Beaconsfield Footwear
Unbound Group, the owner of British footwear retailer Hotter Shoes, said that it has decided to appoint administrators for its main operating subsidiary, Beaconsfield Footwear Limited, after having failed to find a buyer for the business or to raise fresh cash to restructure it. The appointment of the administrators is ...
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ArticleFootway launches a capital hike as its liquidity is under pressure
Footway announced a SEK100 million (€8.7m) capital increase and a reduction of its inventory as its liquidity “is under pressure” due to tighter credit terms from suppliers in an ”already weak market.” On July 14, Swedish e-commerce company had a market capitalization of SEK 825 million (€72m). During the first ...
