All Corporate articles – Page 65
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Nike Inc. reported last month a definitive agreement to sell...
Nike Inc. reported last month a definitive agreement to sell its casual footwear brand, Cole Haan, to an investment fund, Apax Partners, for $570 million. It had already sold Umbro to Iconix a few weeks earlier (more on this in SGI Europe). The price corresponds to more than one year ...
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The Danish children's clothing company H. Utoft has purchased all...
The Danish children's clothing company H. Utoft has purchased all the shares of A Fant, a children's shoe manufacturer from Denmark. Last year, H. Utoft bought 60 percent of the shares in A Fant, and now it has bought the balance of the equity. H. Utoft is already behind four ...
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Crocs has entered into an amendment to its restated credit...
Crocs has entered into an amendment to its restated credit agreement, expanding the existing $70 million line of credit set to expire in December 2016 with a five-year, $100 million revolving line of credit with interest rates 0.5 percentage points lower than before. The loan is provided by PNC Bank NA. ...
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Esprit announced last week that it has granted options on...
Esprit announced last week that it has granted options on 8,450,000 of its shares to certain unnamed individuals under a 3-year-old share options scheme. The shares will become gradually vested and can be exercised six years from now. This came after the secondary offering of shares launched by Esprit on Oct. 22, which was ...
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Jos Sengers, a former senior executive of Bata Industrials, has...
Jos Sengers, a former senior executive of Bata Industrials, has created a new company for the development of new footwear concepts and sourcing in behalf of European and Australasian companies. Based in the Netherlands, he is working with a partner in Dongguan, China, who has been developing safety, sports and children's shoes ...
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Weyco Group, the U.S. parent company of Florsheim, Bogs, Nunn...
Weyco Group, the U.S. parent company of Florsheim, Bogs, Nunn Bush and other footwear brands, said that it will accelerate payment of its regular dividend of 17 cents for the second quarter on Dec. 31 to avoid a potential increase in capital gain taxes in the U.S. in 2013. Quarterly cash dividends would typically ...
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Jones Bootmaker is planning to shut its Eastbourne headquarters, in...
Jones Bootmaker is planning to shut its Eastbourne headquarters, in Sussex, and relocate all its front-end departments to London. As reported by Drapers, the U.K.-based footwear retailer is entering a period of consultation about the move, which would affect between 30 and 40 staff members. Recently, the company announced that ...
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Faguo, a small French brand of trendy casual shoes, has just...
Faguo, a small French brand of trendy casual shoes, has just raised €1.5 million from a French private investor. The funds will support the company's plans to expand its product offering and accelerate its commercial deployment both in France and internationally. The French brand, which expects its sales to grow by 70 percent ...
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The new business plan for Italy's Sixty Group was presented...
The new business plan for Italy's Sixty Group was presented at a meeting at the Ministry of Economic Development on Dec. 6. The plan envisages the creation of a new company with only 50 of the 400 employees at its head office in Chieti. That may rise to 120 by 2018 if revenues reach ...
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An Italian shoe company, Olando Chelini, has halted production of...
An Italian shoe company, Olando Chelini, has halted production of its high-end women's sandals due to a squeeze on credit facilities, which is similarly affecting a number of other shoe and apparel companies in Italy as banks are reacting to the economic crisis in the country. Local authorities are looking into ...
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Charles Vögele may be about to be sold to Inditex,...
Charles Vögele may be about to be sold to Inditex, according to a rumor that was neither confirmed nor denied, but boosted the shares of the Swiss retailer by 16 percent on the Swiss Stock Exchange. The company's chief executive, Franck Beeck, resigned at the end of September with immediate ...
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According to Reuters, Nike is in final negotiations on the...
According to Reuters, Nike is in final negotiations on the sale of Cole Haan to Apax Partners for about $500 million, beating out the bids made by other equity firms. Jack Boys, former chief executive of Converse, would run Cole Haan to trigger a new phase of growth. According to ...
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Short stops
Rucoline has also finalized the acquisition in Ginza of a...
Rucoline has also finalized the acquisition in Ginza of a four-story building that will host the offices of its Japanese subsidiary, Ruco Line KK, along with a showroom and a flagship store on the road
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Li & Fung, the big sourcing and financial investment group...
Li & Fung, the big sourcing and financial investment group based in Hong Kong, is seeking to raise $500 million through the issuance of perpetual bonds in U.S. dollars. The company said that it plans to use the cash injection for business development and further acquisitions. The bonds will be ...
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Labelux has sold Derek Lam back to its founders, Derek...
Labelux has sold Derek Lam back to its founders, Derek Lam and his chief executive, Jan-Hendrik Schlottmann. Labelux, which also owns Bally, Jimmy Choo and Belstaff, acquired a majority stake in Derek Lam in July 2008. The sale is part of Labelux' strategic decision to refocus activities on luxury leathergoods ...
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The relaunch of the Elsa Schiaparelli brand is taking longer...
The relaunch of the Elsa Schiaparelli brand is taking longer than expected. Diego Della Valle, who acquired the brand five years ago, has not yet appointed the designer who will lead the project. Thus, the brand's relaunch, which was scheduled for January, has been postponed until the summer of 2013.
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Famous Footwear, a British shoe retailer that has nothing to...
Famous Footwear, a British shoe retailer that has nothing to do with the chain operated by Brown Shoe Co. in the U.S., has gone into administration, a former of chapter 11 bankruptcy, after accumulating losses due to a difficult market environment. According to just-style.com, a restructuring specialist, GA Europe, will ...
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Esprit is offering to its shareholders to buy a third...
Esprit is offering to its shareholders to buy a third share for two shares in their possession in order to raise up to 5,246 million Hong Kong dollars {€530m-$690m) for its future development. It is offering the new shares at 36 percent below their closing price before the announcement. Meanwhile, ...
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Wolverine Worldwide announced the belated completion of its $1.24 billion...
Wolverine Worldwide announced the belated completion of its $1.24 billion acquisition of the Performance & Lifestyle Group (PLG) of Collective Brands, which comprises Saucony, Sperry Top-Sider, Stride Rite, Keds and Pro-Keds. Financed through a $1.1 billion senior secured credit facility, the takeover gives WWW a portfolio of 16 shoe brands. ...
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Cortina is investing €12 million in the establishment of ‘The...
Cortina is investing €12 million in the establishment of ‘The Cortina Chain of Shoe Knowledge' in the Guandong Province of China that should become operational by next March, after the Chinese New Year. The new complex will offer a one-stop solution to the big trading company's present and future clients ...
