All Corporate articles – Page 64
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News briefs
Walter Burani and his son Giovanni have been sentenced to...
Walter Burani and his son Giovanni have been sentenced to six years in jail by a court in Milan for the fraudulent bankruptcy of the Mariella Burani Fashion Group (MBFG); its parent company, Burani Designer Holding; and its subsidiary Design & Licenses. Walter Burani was the chairman of the former ...
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Iris Shoes is responding to the harsh competition from Chinese...
Iris Shoes is responding to the harsh competition from Chinese firms in the Riviera del Brenta shoe district by investing over €15 million in a new 12,000 square meters facility at Fossò, near Venice. With annual revenues of more than €50 million and plans to reach €90 million for 2015, ...
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News briefs
Nike Inc. has completed the sale of Cole Haan to...
Nike Inc. has completed the sale of Cole Haan to Apax Partners for $570 million. As planned, Jack Boys, who has run Converse for ten years, has been appointed chief executive of Cole Haan. He previously served as vice president of global marketing for The North Face. The American shoe ...
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News briefs
Native Shoe, the Vancouver company known for its colorful EVA...
Native Shoe, the Vancouver company known for its colorful EVA footwear, has signed a nonbinding letter of intent to sell a controlling interest to an investment group. Though specific terms of the deal have not been disclosed, Scott Hawthorn, the acting chief executive and majority investor, will sell his majority ...
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News briefs
Lenzi Egisto, a major supplier of innovative textiles to the...
Lenzi Egisto, a major supplier of innovative textiles to the shoe industry, is going into liquidation. Its family shareholders, who refused to inject money into the company after the death of Egisto Lenzi in July 2009, have been asked to approve a proposal tomorrow to split the assets and sell ...
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News briefs
Farida, the Indian footwear group, has set up a tannery...
Farida, the Indian footwear group, has set up a tannery near Addis Ababa in Ethiopia through its subsidiary in Singapore. The company sources all of its own materials through its subsidiaries. Farida focuses on exports, with 47 percent of its sales going to the EU. North America and Asia-Pacific each ...
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News briefs
E-Land has signed an agreement to acquire K-Swiss, the American...
E-Land has signed an agreement to acquire K-Swiss, the American athletic footwear company that owns Palladium, for about $170 million, representing a premium of 49 percent on the closing price of the the company's shares on the stock exchange. Company officials indicated that the deal could help maximize the potential ...
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News briefs
After Sixty Group, another sportswear firm from the Marche region...
After Sixty Group, another sportswear firm from the Marche region is in financial difficulties. The Fornari Group, owner of the Fornarina brand, has presented a restructuring plan in order to obtain protection from its creditors. The company, whose footwear lines account for one-third of the turnover, says it has suffered ...
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News briefs
From this year's spring/summer season, all of Liebeskind's shoes are...
From this year's spring/summer season, all of Liebeskind's shoes are manufactured in Europe, mainly in Italy and Portugal. Previously, they were partly made in Asia. The change to Europe was mainly decided to react help the company to react more quickly to market changes. For the coming autumn/winter season, Liebeskind ...
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News briefs
Great American Group will handle the liquidation of the inventory...
Great American Group will handle the liquidation of the inventory of Bakers Footwear Group at the retailer's 56 remaining stores, located in various U.S. states, as well as online at Bakersshoes.com. On Jan. 15, a bankruptcy judge in St. Louis signed a Chapter 7 order allowing Bakers to conduct going-out-of-business ...
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News briefs
Sequential Brands Group has announced that it has closed the...
Sequential Brands Group has announced that it has closed the merger of Heelys into a subsidiary of Sequential. The company had entered into an agreement, dated Dec. 7, 2012, to acquire Heelys through a merger and in cash, subject to a number of terms and conditions that have since been fulfilled. ...
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News briefs
Karl Lagerfeld, Fendi's artistic director, announced that the Italian fashion...
Karl Lagerfeld, Fendi's artistic director, announced that the Italian fashion house will finance the renovation of the Trevi Fountain in Rome, one of the symbols of the city and of its cultural and artistic heritage. The 300-year-old monument was famously featured in a scene of one of Federico Fellini's iconic ...
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News briefs
The ownership and management of Birkenstock Orthopedie, the holding company...
The ownership and management of Birkenstock Orthopedie, the holding company of the Birkenstock group, has changed. Stefan Birkenstock, one of the three Birkenstock brothers who have been running the company lately, has pulled out of the top management and sold some of his shares to his brothers Alex and Christian.They ...
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News briefs
Members of the Merkur Group founded a new enlarged German...
Members of the Merkur Group founded a new enlarged German buying group for large shoe retailers, the Merkur Shoe Group (MSG), at the beginning of this year. All the members of MSG are shareholders of the new company. Members of MSG are Fink Schuhe+Sport, Leiser, Salamander, Schuhof, Sutor, Schuhpark Fascies, Fritz Frank Schuhe+Sport ...
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News briefs
Since Jan. 1, Mexx has a new licensing partner for...
Since Jan. 1, Mexx has a new licensing partner for its footwear. A newly founded company, B.S.I Branded Shoes International, has taken on the license under the management of Andreas Neuhaus. In 2010, the footwear license was taken away from the former Dutch-based license partner, Mexx Shoes BV, which was ...
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News briefs
Converse announced plans to move its global headquarters to a...
Converse announced plans to move its global headquarters to a new location in Boston in April 2015 from its current base in North Andover, a town a few miles away in the same state of Massachusetts. Measuring more than 186,000 square feet, the new office space will be developed as ...
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News briefs
Braccialini has announced the terms of a restructuring plan, following...
Braccialini has announced the terms of a restructuring plan, following a meeting between the company's management and union representatives at the end of December. The Tuscan leathergoods group controls the Braccialini, Gherardini and Francesco Biasia brands, and holds the Vivienne Westwood license. The agreement calls for lower wages and shorter work hours ...
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Short stops
Payless ShoeSource, which recently changed hands, has announced that...
Payless ShoeSource, which recently changed hands, has announced that it is laying off 45 employees at its head office in Topeka and eliminating 97 other positions across its store network.
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News briefs
Apax Partners is preparing a senior secured financing package for...
Apax Partners is preparing a senior secured financing package for its $570 million acquisition of Cole Haan from Nike. The transaction will reportedly involve a $270 million seven-year term loan and a $100 million asset-based revolving credit.
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News briefs
The board of directors of Shoe Carnival has extended the...
The board of directors of Shoe Carnival has extended the expiration date of its $25.0 million share repurchase program to Dec. 31, 2013. The program is being funded by cash on hand, and shares can be purchased on the open market or through private deals. The total number and value ...
