News Briefs – Page 2
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News briefs
Style Capital reportedly close to finalizing deal to buy Autry
The Italian private equity group Style Capital is about to close a deal to acquire a majority stake in the Italian sneakers brand Autry that would value the company at €300 million, according to media reports. Il Sole 24 Ore has reported that Style Capital could purchase 50.1 percent of ...
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News briefs
Kuehne+Nagel buys City Zone Express
Kuehne+Nagel, the Swiss logistics group, has entered into an agreement to acquire City Zone Express, a subsidiary of Chasen Holdings, a Singapore-listed company. Headquartered in Malaysia and established in 2006, City Zone Express has over 500 employees and operates in Malaysia, Singapore, Vietnam, Thailand, and China. The company has a ...
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News briefs
GXO Logistics bids for Wincanton
GXO Logisticsis is offering 605 pence (€7.06) per share for the British logistics firm Wincanton, outbidding CEVA Logistics, a French logistics and supply chain company. CEVA, a unit of French shipping group CMA CGM, recently upped its offer to buy Wincanton to 480 pence (€5.60) per share from a previous ...
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News briefs
Creditors approve Schuhhaus Kocken’s restructuring plan
The creditors of the insolvent German shoe retailer Schuhhaus Kocken GmbH & Co unanimously cleared the company’s restructuring plan, which was then confirmed by the Mönchengladbach district court. The family-run retailer started insolvency proceedings under self-administration at the end of August 2023, after taking a hit from sluggish ...
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News briefs
Tre Zeta Group continues its buying spree
Tre Zeta Group has acquired a 100 percent stake in Walking World, an Italian producer of insole. The company located in Porto Recanati, in the Marche region, was founded in 1990 by Antonio Giampaoli and Sonia Mangialardo. Walking World specializes in components for sneakers and has increased annual revenues by ...
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News briefs
Veldskoen Shoes expands in the US
Veldskoen Shoes, a South African footwear brand, has opened new offices in Atlanta as it expands in the US. The expansion plan includes increased availability in major retail outlets, strategic pop-ups in major cities and a strengthened e-commerce platform to make the brand accessible to consumers across the country. “We ...
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News briefs
Della Valle family does not plan to sell Tod’s
The Della Valle family that controls Tod’s has no intention of selling the Italian producer of luxury goods, said Diego Della Valle, the chairman and CEO of Tod’s. “We don’t have to sell anything, we have a family business with young people who want to do this job,” Della Valle ...
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News briefs
Oerlikon to spin off its Polymer Processing Solutions division
The Swiss industrial group Oerlikon plans to spin off its Polymer Processing Solutions business in order to focus on surface solution markets. “Today, we announce our final strategic step to become a pure-play leader in the broad surface solutions markets with attractive organic and inorganic growth opportunities. We will further ...
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News briefs
Schuh-Welt files for restructuring under self-administration
The German shoe retailer Schuh-Welt has filed for restructuring under self-administration with the Pirmasens district court, as sluggish demand and rising rent and energy costs have taken their toll on the company’s finances. The retailer operates ten stores in southwestern Germany, including its headquarters in Waldfischbach-Burgalben, in the Rhineland-Palatinate ...
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News briefsChiara Ferragni rarely attended Tod’s’ board meetings
The Italian influencer Chiara Ferragni has rarely attended Tod’s’ board meetings since her appointment as director on April 21, 2021. According to the daily Il Sole 24 Ore, Ferragni took part in only three meetings out of 17, missing 82.4 percent of the total – a record for a ...
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News briefs
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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News briefs
Fessura raises €1.8m in crowd funding
Fessura, a sneaker company based in Italy’s Marche region, raised €1.8 million in a crowdfunding that attracted 161 investors. The fund raising was carried out on the Mamacrowd platform and closed on Jan. 17. The minimum goal of the crowd funding was €800,000 and the maximum size €2.1 million. The ...
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News briefs
D.a.t.e. invests in Santha
D.a.t.e., a Florence-based sneaker brand launched in 2005, has invested in the sneaker startup Santha to support its development. Along with buying a stake in Santha, D.a.t.e. will be in charge of the production and distribution of the company’s collections. Santha will be distributed in 100 points of sale worldwide ...
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News briefs
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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News briefs
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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News briefs
CMA CGM unit to buy Wincanton
The British logistics group Wincanton approved a 450 pence (€5.2) per share cash offer from CEVA Logistics UK, which is controlled by the French shipping company CMA CGM. The acquisition values Wincanton at approximately £566.9 million (€661m) on a fully diluted basis and £764.9 million (€891m) on an enterprise value ...
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News briefs
Frasers hikes its stake in Asos to nearly 26%
Frasers Group has increased its stake in the British online fashion retailer Asos to 25.96 percent through a series of transactions in January, according to filings with the London Stock Exchange. At the end of December, the stake stood at 17.88 percent. Based on the latest filing on Jan.18, 17.11 ...
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News briefs
Frasers Group hikes stake in Boohoo to 21.49% vs 17.22%
Frasers Group has increased its stake in the online fashion retailer Boohoo to 21.49 percent from 17.22 percent, according to a stock exchange filing. The British retailer has been building up a stake in Boohoo over the past months. It previously said that it saw “potential synergies and an opportunity ...
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News briefs
JD Sports takes full control of MIG
JD Sports Fashion has bought a 40 percent stake in Marketing Investment Group (MIG) and is now the sole owner of the Polish-based wholesaler and multi-channel retailer. The acquisition was completed following clearance by the European Commission. JD Sports already owned a 60 percent stake in MIG, acquired in 2021. ...
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News briefs
Ownership and management change at ECC
European-Clearing-Center (ECC), which acts as a platform for electronic data exchange between producers and retailers in the footwear and fashion sector, underwent a change of ownership and management. Effective from Jan. 1, the footwear buying groups ANWR and Sabu and the shoe and leather goods industry association HDS/L purchased the ...
