News Briefs – Page 22
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News briefs
Unbound starts trading on AIM and renews its management
Unbound Group, the owner of the British footwear retailer Hotter Shoes, started trading on the AIM segment of the London Stock Exchange on Feb. 1. The company, which was previously called Electra Private Equity, previously announced that it was moving from the stock exchange’s main market to the AIM as ...
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Unbound applies to be listed on the AIM
The British investment company Unbound Group has applied for the cancellation of its shares on the main market of the London Stock Exchange in order to be admitted on the AIM segment from Feb. 1. Unbound, which changed names from Electra Private Equity, owns the footwear brand Hotter.
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Sabu launches new business and organizational development unit
Sabu launched a new business and organizational development division that will be led, effective immediately, by Kay Wegerhoff. The new unit will allow to more closely identify the current and future needs of members and suppliers, sort them by priority and implement projects and measures as needed, in the ...
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Jupiter halves stake in Boohoo after profit-warning
Jupiter Fund Management has slashed its holding in Boohoo to 4.7 percent from 9.99 percent, according to a stock market filing. The investment firm was Boohoo’s second largest institutional shareholder after T Rowe Price International. No reasons were given for the disposal, but the move comes less than a month ...
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Schwan-Stabilo buys a stake in Doghammer
The German Schwan-Stabilo group has taken a minority stake in Doghammer, a young outdoor footwear brand. The agreement was signed shortly before the end of 2021. Further details of the transaction were not disclosed. Doghammer was established in 2015 by Matthias Drexlmaier and Maximilian Hundhammer in Rosenheim in Bavaria. Since ...
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S&P has a negative credit outlook for Crocs
Having completed its review of Crocs following its $2.5 billion takeover of Hey Dude, Standard & Poor’s gave a negative outlook to the company, in contrast with the stable outlook assigned by Moody’s. S&P indicated that it might downgrade Crocs if it fails to integrate the casual footwear brand as ...
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StockX is reportedly working on its IPO
StockX, the fast-growing auction platform for heritage sneakers and other collectibles, has started working on a public offering with Morgan Stanley and Goldman Sachs, said Bloomberg, quoting “people with knowledge of the matter.” The report, which could not be confirmed, comes a couple of months after StockX announced its first ...
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ABG cancels its IPO registration
The Authentic Brands Group has officially withdrawn the application that it had made with the U.S. Securities & Exchange Commission on July 6, 2021 for an initial public offering. ABG, which is still in line to take over Reebok before the end of the current quarter, had indicated in November ...
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Dr. Martens’ main shareholder sells down its stake
IngreLux, a Luxembourg company owned by funds advised by the investment firm Permira, has sold 65 million ordinary shares in Dr. Martens at a price of 395 pence (€4.73-$5.35) each in a placing, raising gross proceeds of approximately £257 million (€307.7m-$347.8m). The price represents a 6 percent discount from the ...
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News briefs
Holding Industriale buys 50% of the Italian shoe maker Valmor
Holding Industriale, an Italian investment firm which focuses on small and medium-sized companies, has bought a 50 percent stake in the shoemaker Valmor through its unit Holding Moda. It is Holding Industriale’s first foray into the footwear business. Valmor’s headquarters are in Civitanova Marche, situated in the footwear cluster of ...
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Data analyst Volumental raises $13m
Volumental, a Swedish firm that helps footwear brands and retailers leverage data to improve in-store and online shopping experiences, has raised $13 million, its largest financing round to date. The financing was led by CNI, a private equity firm based in Stockholm, and provided investors with a minority equity stake. ...
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AlgiKnit opens innovation hub in North Carolina
The biomaterials firm AlgiKnit opened on Dec. 15 an innovation hub in Morrisville, located in The Research Triangle area of North Carolina. The company, which produces yarns derived mostly from the seaweed kelp, will begin pilot projects with global brands from the new space in early 2022. The new facility ...
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Shoe Carnival clears new $50m share buyback
Shoe Carnival’s board authorized a new share repurchase program for up to $50 million of its common stock, effective Jan. 1, 2022. It replaces an existing $50 million share repurchase program that was authorized on Dec. 15, 2020, and that expires on Dec. 31, 2021. Additional purchases may be made ...
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News briefs
Zegna starts trading on NYSE
On Dec. 20, Ermenegildo Zegna debuted on the New York Stock Exchange through a merger with Investindustrial Acquisition Corp (IIAC), a special purpose acquisition company (SPAC) sponsored by subsidiaries of Investindustrial VII, which is part of the private equity Investindustrial founded by the Italian businessman Andrea Bonomi. Shares in Zegna ...
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News briefs
LVMH launches €300m share buyback
LVMH has granted an irrevocable mandate to an investment services provider for the acquisition of a maximum of €300 million of its shares over a period starting on Dec. 21 and which could last until Feb. 15. The price of the shares bought under this mandate must not exceed €950 ...
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News briefs
Metro Brands IPO 3.64 times subscribed
The initial public offering (IPO) of the Indian footwear retailer Metro Brands, which ran from Dec. 10 to 14, was subscribed 3.64 times. The portion reserved to qualified investors was subscribed 8.49 times and the remainder of the IPO 3.02 times.
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News briefs
CPC sells JackRabbit to Fleet Feet
CriticalPoint Capital (CPC), a Californian private investment firm, has completed the sale of JackRabbit, a running specialty retailer in the U.S., to Fleet Feet, an American franchisor of locally owned and operated running stores. CPC entered the footwear industry in early 2017 with the acquisition of JackRabbit. In October 2020, ...
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News briefs
Brian Atwood launches a new collection
Brian Atwood is launching a new footwear collection with his brother Zak Rodriguez. The new collection will be called Il Fratellino (the little brother in Italian) and is scheduled to be launched in spring 2022. It will target young customers and will be inclusive and sustainable, according to the designers. ...
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News briefs
Skechers extends and expands its credit facility
Skechers has expanded its senior unsecured credit facility from $500 million to $750 million, extending its maturity date from November 2024 to December 2025. It will retain a $250 million accordion feature that allows the company up to $1 billion worth of liquidity. The syndicate of lenders features Bank of ...
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News briefs
Rizzo makes offer to creditors
Rizzo Group has made an offer to its creditors to avoid bankruptcy. The Swedish retailer’s composition offer, which also applies for its subsidiary Rizzo International, involves the entire payment of unsecured debt up to SEK 2,000 (€195-$220) and 25 percent of any excess amount. The company has been in corporate ...
