All Corporate articles – Page 8
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Footway secures a debt settlement
Footway Group’s restructuring plan has been approved, resulting in a debt settlement where the e-commerce company will pay approximately 70 million Swedish kronor (€6.17m) to its creditors in mid-March. The decision had broad support among creditors and Footway expects to exit the restructuring program in mid-February. According to the company, ...
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The cyberattack on VF may affect about 35.5 mln clients
VF Corp. said that data from about 35.5 million of its customers was stolen in a cyberattack on the Dec. 13. The parent company of The North Face, Vans and Timberland further stated that it does not store sensitive customer data such as SSN, bank or payment card details ...
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Vagabond donated to a foundation
The owners of the Swedish footwear brand Vagabond Shoemakers have donated the company to a newly formed foundation.“For over 30 years, the founders of Vagabond Shoemakers, Marie Nilsson Peterzén and Mats Nilsson, have dedicated themselves to building one of Europe’s strongest shoe brands. Now, the entire company is handed over, ...
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ArticleAlviero Martini under court administration amid supply chain labor exploitation charges
Alviero Martini has been placed under court administration by the Milan court, following a probe that found its supply chain relied on Chinese sweatshops that exploited workers to produce the Italian fashion house’s accessories and shoes. The probe was initiated by the public prosecutors Paolo Storari and Luisa Baima Bollone ...
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Hapag-Lloyd and Maersk join forces
The German shipping company Hapag-Lloyd and its Danish peer Maersk have signed an agreement for a new long-term operational collaboration called “Gemini Cooperation”, which will start in February 2025. “The ambition is to deliver a flexible and interconnected ocean network with industry-leading reliability,” the companies said in a joint statement. ...
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Boohoo embroiled in factory closure and label-changing scandal
British fast fashion company Boohoo found itself embroiled in two more potential scandals as it considers closing a factory it established as a flagship center of excellence and was accused of removing original labels at the same plant and replacing them with ‘Made in UK’ tags.Boohoo is consulting with up ...
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Sport 2000 Austria joins forces with ANWR Group
At an extraordinary general meeting on Jan. 11, 2024, the Zentrasport Österreich e. Gen. cooperative, which is part of the international retail network Sport 2000, decided to become part of ANWR Group eG and the Sport 2000 country network led by Sport 2000 Germany. In July 2023, the Austrian cooperative ...
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SQIM raises €11m to develop mycelium-based materials
SQIM, an Italian start-up created in 2015 and specialized in materials bio-produced using mycelium, said that it has successfully closed an €11 million funding round in which participated CDP Venture Capital, ECBF VC, Kering Ventures and Progress Tech Transfer. The funds will enable SQIM, formerly known as Mogu, to launch ...
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Amer Sports files registration form for planned U.S. IPO
Finnish Amer Sports, Inc., which includes the Arc’teryx, Salomon, Wilson, Peak Performance and Atomic brands, among others, announced on Jan. 4, that it has filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission for a proposed initial public offering of its common stock. The number ...
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Footway to hold an EGM on Jan. 25
The e-commerce company Footway Group AB has convened an extraordinary general meeting for its shareholders on Jan. 25, 2024, at the company’s premises in Kista, Sweden. The company stated in a press release that it “will shortly apply for plan negotiations to complete the reconstruction formally,” and it is expected ...
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ArticleFessura plans to raise €2.1 million in a crowdfunding
Fessura, a sneaker company based in Italy’s Marche region, is proceeding with a crowdfunding due to close on Jan.17 on the Mamacrowd platform. The maximum size of the transaction was increased to €2.1 million from €1.6 million “to give the opportunity to the many investors who have expressed interest in ...
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LaShoe ceases operations
The German online shoe retailer LaShoe, which specializes in women’s shoes for hallux valgus - a misalignment of the big toe - and sensitive feet, will cease operations at the end of 2023. The Düsseldorf-based company, a subsidiary of the Walbusch Group, failed to sufficiently grow its customer base ...
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ArticleDeichmann ends MyShoes brand, closes 90 stores
Footwear retailer MyShoes, a subsidiary of the German group Deichmann, will cease business operations in Germany and Austria by the end of 2024. Overall, 90 stores will be affected by the closings, with 29 in Austria and 61 in Germany, impacting 750 employees, including 150 in Austria and 600 ...
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ArticleClarks set to axe UK 103 jobs and announces Benelux tie-up with GAB
Clarks is cutting more than 100 jobs in response to economic headwinds and the cost-of-living crisis that has seen British consumers tighten their belts in response to soaring inflation. The U.K. footwear company said it expected tougher trading conditions to continue into next year and would need to manage overheads ...
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ArticleMoody’s upgrades Golden Goose’s credit rating outlook to positive
Moody’s Investors Service has changed Golden Goose’s credit rating outlook to positive from stable thanks to the company’s significantly deleverage. The U.S. credit rating agency also affirmed the Italian sneaker company’s B2 corporate family rating, its B2-PD probability of default rating, and the B2 instrument rating on the company’s €480 ...
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ArticleAustrian children’s shoe manufacturer Richter files for bankruptcy
The Austrian company Ferdinand Richter, the oldest children’s shoe manufacturer in Europe, has filed for bankruptcy with the Graz regional court. The company, which is based in Pasching, near Linz, with management in Graz, is however planning to continue operations, according to media reports. Ferdinand Richter has around €7.9 ...
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KG Schuhkay completes protective shield proceedings
The Hamburg-based footwear retailer KG Schuhkay has completed its protective shield proceedings. Schuhkay applied for self-administration under the German insolvency law in late March this year and entered protective shield proceedings at the end of May. Despite better-than-expected results, the business outlook was clouded by the fallout from the ...
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Gerry Weber to be delisted
The German fashion group Gerry Weber is set to undergo a capital cut and to delist from the stock market as part of its restructuring plan, which was confirmed on Oct. 25 by the Essen Restructuring Court. The plan, which also includes a €50,000 capital increase, “was approved with ...
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Aku inaugurates a new production line
Italian-based outdoor footwear maker Aku has inaugurated a new line of production at its factory in Montebelluna. The new state-of-the-art machine for outdoor and professional footwear reportedly represents an investment of €1.3 million. The project has been developed in partnership with Stemma, also an Italian company which specializes in the ...
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New Balance starts construction of new factory in New England
New Balance has begun construction of a 9,500-square meter factory in Londonderry, New Hampshire. It is the first factory in the state and the sixth footwear manufacturing facility in the U.S.. The investment totals $70 million, will create more than 150 jobs and is expected to be operational by 2025. ...
