News Briefs – Page 5
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News briefs
Hugo Boss issues maiden Schuldschein loan
Hugo Boss has issued its first Schuldschein loan, with a value of €175 million, to finance further investments as part of its ‘Claim 5’ growth strategy. The initial target volume from the Schuldschein – which is similar to a bond but doesn’t need to be registered on a stock exchange ...
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News briefs
Frasers continues to hike its stake in Boohoo
Frasers Group has increased its stake in the online fashion retailer Boohoo to 16.50 percent from 15.12 percent, according to a stock exchange filing. The British retailer has been gradually building up a stake in Boohoo over the past months. It previously said that it saw “potential synergies and an ...
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News briefs
Steve Madden buys Almost Famous to expand its apparel business
In a move to expand its apparel business, Steve Madden has bought Almost Famous, a designer and marketer of women’s apparel, for $52 million in cash, plus an earn-out provision based on future financial performance. Almost Famous markets products under its own brands, primarily Almost Famous, as well as private ...
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News briefs
EU clears Farfetch acquistion of YNAP stake from Richemont
The European Commission has unconditionally cleared the acquisition by the British online fashion retailer Farfetch of a 47.5 percent stake in Yoox Net-a-Porter (YNAP) from the Swiss luxury goods group Richemont in exchange of Farfetch shares. The commission was the last regulatory hurdle required to obtain clearance for the deal, ...
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News briefs
Cinven may put Kurt Geiger up for sale
The private equity Cinven is working with its adviser Bank of America on a potential auction for Kurt Geiger, according to Sky News, adding that the sale process could start in the coming months. Cinven could be seeking to raise £400 million (€460m) in the sale. Cinven bought the British ...
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News briefs
H&M issues a maiden €500m green bond
H&M has issued an inaugural €500 million euro green bond with a maturity of eight years under its Euro Medium Term Note (EMTN) programme. According to the Swedish fashion retailer, the bond “generated great interest among a broad international base” of institutional investors and was more than 3.5 times oversubscribed. ...
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News briefs
Frasers increases its stake in Boohoo again
Frasers Group has increased its stake in the online fashion retailer Boohoo to 13.44% from 10.42%, according to a stock exchange filing. The British retailing group has been building up a stake in Boohoo. It previously said that it saw “potential synergies and an opportunity to strengthen our own brand ...
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News briefs
Taiwanese insole maker DSC expanding in Indonesia, India
Dahsheng Chemical (DSC), a Taiwanese maker of closed-cell and open-cell foam products founded in 1945, is expanding its global manufacturing footprint in Indonesia and India. The new locations, estimated to generate more than 1,500 jobs, will increase DSC’s global capacity by 24 million pairs of insoles per month and accelerate ...
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News briefs
Birkenstock disappoints on market debut
Birkenstock’s share price fell by 12.61 percent to $40.20 on Oct.11, its first trading day on the New York Stock Exchange, representing a market capitalization just above $7.5 billion. The sandal maker had priced its initial public offering at $46 per share, valuing the company $8.6 billion. The price was ...
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News briefs
Birkenstock prices its IPO at $46 a share
Birkenstock has priced its initial public offering at $46 per share, valuing the company $8.6 billion. The price is just slightly below the midpoint of the $44.00 to $49.00 price range previously announced by the sandal maker. Birkenstock Holding Limited, which is registered in Jersey and has its headquarters in ...
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News briefs
New Birkenstock plant in Pasewalk begins operations
Production at Birkenstock’s new shoe factory has started according to schedule. After 17 months of construction, the footwear manufacturer began operations at its new manufacturing facility in the Berlin-Szczecin industrial park near Pasewalk, in the Mecklenburg-Vorpommern region of Germany. The new €110-million, 36,000-square meter facility is the single largest ...
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News briefs
Massimo Bonini invests in Giorgio Fabiani
Massimo Bonini, the Milan-based showroom operator, has bought a minority stake in the Italian shoemaker Giorgio Fabiani. The partnership aims to bolster Giorgio Fabiani’s manufacturing base and distribution network. The brands Missoni and Mugler, which both work with Massimo Bonini, are also expected to start working with the shoemaker. The ...
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News briefs
Frasers hikes its stake in Boohoo to 13.44%
The British retailing group Frasers Group has further increased its stake in the online fashion retailer Boohoo to 13.44 percent from 10.42 percent, according to a filing with the London Stock Exchange. Frasers has been building up a stake in Boohoo. At the end of August and early September, it ...
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News briefs
Golden Goose shareholder reportedly hires an advisor for an IPO
The private equity Permira has hired a financial advisor to study an initial public offering (IPO) on the Milan stock exchange for Golden Goose, according to the business newspaper Il Sole 24 Ore. The advisor is believed to be a US investment bank present in Europe. The IPO could be ...
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News briefs
Novelship secures $9.5 million in Series B funding
Novelship, a Singapore-based marketplace founded in 2018, has received US$9.5 million in its Series B funding round led by East Ventures, iGlobe Partners and GSR Ventures. The company said the new funding will accelerate its efforts to strengthen its brand presence across Southeast Asia. This includes improving logistics capabilities, refining ...
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News briefs
Mike Ashley cuts his stake in Hugo Boss
Mike Ashley, the majority owner of the British retailer Frasers Group, has cut his stake in Hugo Boss to 19.65 percent from a previous 24.39 percent, according to a regulatory filing from the German fashion house. The figure includes financial instruments owned by Frasers. Ashley now owns 1.63 percent in ...
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News briefs
Gerry Weber creditors approve restructuring plan
Another hurdle was cleared for the troubled German fashion group Gerry Weber. The creditors of the insolvent company voted by a large majority in favor of a restructuring plan which includes a capital cut and the injection of new funds. Under the plan, Gerry Weber’s existing shareholders will be ...
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News briefs
Peugeot Invest buys a stake in Gruppo Florence
Peugeot Invest, the holding company of the Peugeot family, has invested €20 million in Gruppo Florence, an Italian holding company that owns 26 suppliers to the luxury goods industry, including three footwear manufacturers, according to the daily Corriere della Sera. Peugeot Invest, which has a 7 percent stake in the ...
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News briefs
WHP buys majority stake in G-Star RAW
WHP Global, an American brand management firm, will acquire a majority interest in the denim brand G-Star RAW. No financial details were released. Under the terms of the agreement, the existing G-Star shareholders, including founder Jos van Tilburg, will retain a stake in the brand. The current management team of ...
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News briefs
Fagus-GreCon Greten to spin off its mould business
As of Jan.1, 2024, Fagus-GreCon Greten will spin off its Fagus division into an independent company called Fagus GmbH. “The new company’s ambition is to fulfill the growing demands in the shoe industry which require a modern and customer-oriented approach in the areas of moulds, design, shoe lasts and DIP ...
