News Briefs – Page 23
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News briefs
Centric Software takes over Armonica Retail
Silicon Valley-based Centric Software, which provides product lifecycle management solutions to various sectors, including footwear, fashion and luxury, has acquired the retail planning solution provider, Armonica Retail. No financial details were released. Armonica Retail was founded in 2018 in Milan by Simone Pozzi and Riccardo Pron. Centric Software is majority-owned ...
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Metro Brands IPO to run Dec 10-14
The Italian footwear retailer Metro Brands is scheduled to hold an initial public offering open to subscription from Dec. 10 to 14. The transaction will comprise 2.5 billion rupees (€29.4m-$33.2m) worth of new shares and 21.9 million rupees (€2.6m-$2.9m) of existing equity sold by shareholders. The company will use the ...
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News briefs
eBay buys the sneaker-authentication business of Sneaker Con Digital
eBay bought the sneaker-authentication business of Sneaker Con Digital, which operates in the U.S., the U.K., Canada, Australia and Germany. Terms of the deal, which was closed on Nov. 24, were not disclosed. The companies have been collaborating since October 2020, with Sneaker Con providing a panel of experts ...
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News briefs
Rudholm Group acquires Euro Brand Management for sustainable packaging
The Rudholm Group (RH), a Swedish-based supplier of garment accessories, packaging and logistical services for apparel producers, has taken over Euro Brand Management (EBM), a Munich-based company specializing in sustainable packaging and supply chain management solutions in all the segments of the footwear market. Founded in 1951 by the eponymous ...
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News briefs
Gruppo Florence mulls acquisitions in footwear, leather goods
Gruppo Florence, an Italian holding company controlling various fashion brands, is considering acquistions, especially in footwear and leather goods, the CEO Attlia Kiss told Pambianconews. He said that after completing the creation of an apparel hub, which occurred last year, “in 2022 our project will be extended to leatherwear and ...
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News briefs
StockX acquires Scout
StockX is making its first acquisition, and the target company is Scout, which has developed a the cloud-based inventory-management software topShelf. Once the deal goes through and the integration is completed, StockX will be inviting certain subscribers to use Scout’s automation, inventory management, distribution and pricing tools free of charge. ...
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News briefs
Nice Footwear share price up 60% in bourse debut
The share price of Nice Footwear rose by 60.0 percent to €16.00 on Nov.18, the first day of trading for the Italian footwear company on the Euronext Growth segment of the Milan stock exchange. The stock was sold at €10.00 in an initial public offering comprising only newly issued shares. ...
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News briefs
Nice Footwear IPO priced €10 a share
Nice Footwear, an Italian company specializing in sneakers, priced its initial public offering (IPO) at €10.00 per share, in the middle of its indicative price of €9.00-€11.00. The stock is scheduled to start trading on the Euronext Growth segment of the Milan stock exchange on Nov. 18. The company sold ...
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News briefs
Mime et moi is up for sale
In order to relaunch the Munich-based brand Mime et moi, the administrator Axel Bierbach from the law firm Müller-Heydenreich Bierbach & Kollegen (Munich) has launched a procedure to find an investor who can inject fresh capital into the start-up in order to guarantee the continuation of its activities and save ...
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News briefs
Allbirds’ IPO proceeds rise to $348m
The underwriters of Allbirds’ public offering fully exercised an over-allotment option to purchase additional shares, which was not surprising in view of the doubling in the initially offered price of $15 a share in the course of trading. All in all, Allbirds has placed a total of 16,850,799 shares, raising ...
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Mitchell & Ness revives century-old athletic brand
Mitchell & Ness has revived Hood Rubber Company, a footwear brand that closed up shop in 1972. The brainchild of Frederic and Arthur Hood dates back to 1896. In 1914 it was among the first to produce a basketball shoe, with a canvas upper, and to use aluminum, rather than ...
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News briefs
Wolverine amends its credit facilities
Wolverine Worldwide has amended and extended its credit agreement with JP Morgan Chase, refinancing a $200 million term loan and taking its existing revolving credit up from $800 million to $1 billion. The maturity of both credit facilities has been stretched to end on Oct. 21, 2026. There was an ...
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News briefs
Galaxy will buy Sequential’s active brands for $330m
Galaxy Universal announced that it has won the auction for the active brands portfolio of the bankrupt Sequential Brands Group, which includes And1, Avia, Gaiam and SPRI. The $330 million deal, which is still subject to court approval, is expected to close in mid-November. Galaxy had already made a “stalking ...
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News briefs
Sabu and Zusa enter a partnership
Sabu, a German retail cooperative, and Zusa, a Swiss footwear buying group, have agreed on a strategic partnership scheduled to start next year. The parties expect that the collaboration will lead to significant synergies in many activities, reduce costs and further improve the services for their members in both countries. ...
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News briefs
JD Sports buys Greek firm Cosmos Sport
JD Sports Fashion, the UK retailer of sports, fashion and outdoor brands, has acquired 80 percent of Cosmos Sport. No financial details were released. Based in Crete, Greece, Cosmos was founded in 1982 by Fragiskos Tsiknakis. Prior to the purchase, Cosmos was 70 percent owned by the Tsiknakis family with ...
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News briefs
Sheme to consolidate its position in China and Germany
Sheme, a Chinese brand of luxury women’s shoes which attracted the spotlight by being the first Chinese footwear brand to have attended the fashion weeks in London, Paris and New York, aims to consolidate its positions in its existing markets of China, which represents about 90 percent of sales, and ...
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News briefs
Saks Fifth Avenue plans to float e-commerce business
The e-commerce business of the American luxury department store chain Saks Fifth Avenue is aiming to go public soon at a valuation that is roughly triple what it was pegged at earlier this year, The Wall Street Journal reported. Saks is interviewing underwriters this week for a possible initial public ...
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News briefs
Sequential will be able to honor its debts
The bankrupt Sequential Brands Group is now expected to be able to pay its $435.1 million in liabilities through the auction of its assets. With You, a company that owns a 37.5 percent interest in the Jessica Simpson brand, has launched a bid for the remaining shares owned by SQBG ...
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News briefs
Aquafil buys a Norwegian firm collecting discarded fishing nets
The Italian yarn producer Aquafil has acquired a 32 percent stake in the Norwegian company Nofir, which collects and recycles discarded equipment from fishing and fish farming. Since 2011, Nofir has collected over 48,000 tonnes in fishing networks from 20 countries. In 2011, Aquafil created the Econyl Regeneration System that ...
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News briefs
Kingmaker prepares to reopen a Vietnam factory
After nearly three months of halted production, Kingmaker’s footwear factory in the Binh Duong Province in southern Vietnam is now ready to restart operations in several phases. The region in which the plant is located has obtained “green zone” status, and over 70 percent of the factory’s employees have received ...
