News Briefs – Page 4
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News briefs
Wortmann invests €20m in an automated warehouse
The German footwear manufacturer and distributor Wortmann Group is expanding its logistics hub in Detmold with a fully automated warehouse with a shuttle system. With an investment of around €20 million, Wortmann aims to boost delivery efficiency and expand its capacity in the European market, allowing it to handle ...
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News briefs
Spartoo’s management increases its stake to 28.9%
The management of Spartoo has increased its stake in the French online fashion retailer to 28.9 percent from 13.1 percent thanks to the acquisition of 2,867,401 shares from Highland Capital Partners. No financial details were released. The venture capital firm was Spartoo’s largest shareholder with a 15.7 percent stake. It ...
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News briefs
Klarna reportedly seeks over $15bn valuation in IPO
Klarna aims to raise at least $1 billion dollars from an upcoming initial public offer (IPO) in the US, the news agency Bloomberg reported, citing unnamed sources. According to Bloomberg, the Swedish payment company aims to price its IPO in early April and is targeting a valuation exceeding $15 billion ...
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Verdoso obtains clearance to acquire The Kooples
The French antitrust agency, Autorité de la concurrence, has approved the takeover of The Kooples Production by the French investment company Verdoso. Founded in 2008, The Kooples specializes in the design and retailing of premium clothing and accessories for men and women. The company has 184 points of sale in ...
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News briefs
Clergerie seeks a new buyer after going into receivership again
On March 5, a hearing scheduled by the commercial court of Romans-sur-Isère, France, is expected to determine whether there are buyers for Clergerie. On Dec. 4, 2024, the group’s manufacturing subsidiary, S.S.B, and commercial unit, J.H.J, were placed into receivership after the group’s owner, the California-based footwear company Titan ...
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News briefs
Prada reportedly nearing deal to buy Versace for about €1.5bn
Prada Group is nearing a deal to buy Versace from Capri Holdings for about €1.5 billion, the Financial Times reported, citing unnamed sources. Prada and Capri are getting closer to a deal that could be concluded within weeks, according to the UK daily, which noted that the pricing and timing ...
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News briefs
Giuseppe Zanotti takes full control of his brand
Giuseppe Zanotti has bought back a 30 percent stake in his namesake brand from the investment fund L Catterton. The fund bought the stake in 2014, when it was called L Capital Management. No financial details were released. In statement, Giuseppe Zanotti thanked L Catterton for its support and collaboration ...
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News briefs
Dassault Systèmes takes over Contentserv
Centric Software, a subsidiary of the French information technology group Dassault Systèmes has signed an agreement to acquire Contentserv, a provider of product information management and product experience management solutions, for an enterprise value of €220 million. Centric Software provides enterprise solutions to plan, design, develop, source, price and sell ...
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News briefs
Phoenix Kothari Footwear increases investment in India’s Tamil Nadu state
Phoenix Kothari Footwear, a joint venture between Chennai-based Kothari Industrial Corporation and Taiwan’s Evervan Group, will invest 5,000 crore rupee (€552m) to set up factories to produce non-leather footwear in Eraiyur and Karur in the southern state of Tamil Nadu, the Indian publication The Hindu BusinessLine reported. In the Indian ...
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News briefs
Prada reportedly in exclusive talks to buy Versace
Prada Group has set a four-week period of exclusive talks to reach an agreement to buy Versace from Capri Holdings, according to the Italian daily Il Sole 24 Ore. The Italian fashion house is being advised by Goldman Sachs and Citi, according to the newspaper. Capri bought the Italian fashion ...
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News briefs
Galaxy Universal buys Reebok’s US business and will oversee operations in Europe
Galaxy Universal, a US footwear and brand management group controlled by the private equity firm Gainline Capital Partners, has acquired Reebok’s global product creation, sourcing and footwear operations in the US. “As part of the US operations, Galaxy will lead Reebok’s US footwear wholesale, retail and e-commerce channels, further solidifying ...
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News briefs
Kontoor Brands buys Helly Hansen for $900m
Kontoor Brands, a US lifestyle apparel company, has signed a definitive agreement to acquire Helly Hansen, an outdoor and workwear brand, from Canadian Tire Corporation for about $900 million. Kontoor expects Helly Hansen to generate more than $680 million of revenues and $80 million of adjusted Ebitda for fiscal 2025. ...
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News briefs
Eytys finds new investors
Eytys, the Swedish footwear brand known for its chunky shoes that was declared bankrupt on Jan. 16, has been taken over. Niklas Emthén, the bankruptcy trustee, said that there was some bidding for the company and a deal has been finalized but did not disclose the name of the investors, ...
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News briefs
Semler files for bankruptcy
The traditional German shoe manufacturer Carl Semler GmbH filed for bankruptcy at the Pirmasens Local Court as a massive drop in sales and payment defaults took their toll on the company’s bottom line. The court appointed restructuring expert Lukas Eisenhuth of the law firm Abel and Partners as general representative ...
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News briefs
Munro closes down
Munro & Company, Inc, a US footwear company based in Hot Springs, Arkansas, announced that it is closing down. “With heavy hearts, we are sad to announce that after 52 years of designing, developing and manufacturing high quality size and width footwear, Munro will cease operations in early 2025,” the ...
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News briefs
Clarks completes the sale of its UK pension liabilities
The Pension Insurance Corp. (PIC) has completed an annuity buy-in with the C.& J. Clark Pension Fund, the benefit plan of C. & J. Clark International Ltd. The buy-in will cover £540 million pounds (€644m) of plan liabilities for 8,000 members. In 2022, PIC had a already bought £280 million ...
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News briefs
Dass closes a factory in Argentina
Dass, a Brazilian footwear manufacturer specializing in sports shoes, has closed a plant located in the Argentine town of Coronel Suárez due to adverse market conditions in Argentina. According to the local press, the closure will result in 360 job losses. The plant produced shoes for the brands Adidas, Nike ...
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News briefs
Boohoo sells its London office
Boohoo has completed the sale of its London office, located on Great Pulteney Street, Soho. The property has been sold for £49.5 million (€59.7m) in cash to Global Holdings UK Limited, an independent property fund. “The action taken to dispose of this non-core and non-strategic asset will further strengthen ...
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News briefs
Jimmy Choo opens a new office for its supply chain management
Jimmy Choo is scheduled to open its new offices for the management of the supply chain on Jan. 7. Located in Scandicci, near Florence, the 3,000-square-meter building has three floors containing offices and warehouses, and a further 2,600-square-meter basement for parking and utility rooms. The British shoemaker is owned by ...
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News briefs
UK’s top 1% shopping destinations command 30% of consumer spend
The top 1 percent of the UK’s shopping destinations represent 30 percent of consumer spending in brick-and-mortar stores, prompting brands to focus on the best locations, according to Mark Allan, Chief Executive Officer of the British property group Landsec. “The top 1 percent of the UK’s shopping destinations provide brands ...
