News Briefs
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News briefs
Coats to exit US yarns business
Coats intends to fully exit from the US yarns business run by its Performance Materials (PM) unit in Kings Mountain, North Carolina. “This follows the strategic review of the Americas Yarns business, which started in Q4 2024 and has already resulted in the closure of the Toluca, Mexico facility in ...
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News briefs
EEC launches a new company structure and advisory board
The European-Clearing-Center (ECC) has streamlined its corporate structure and now operates as a GmbH, or a limited liability company in Germany. The restructuring, according to ECC, aims at increasing efficiency and sharpening the strategic focus of the company, which acts as a platform for electronic data exchange between producers and ...
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News briefs
Sports Gear opens a factory in Portugal
Sports Gear, a Taiwanese group specializing in sports footwear and supplying major brands such as Adidas, Nike and Puma, has invested €15.3 million in a factory in the Portuguese town of Estarreja, the Portuguese daily Diário de Notícias reported. Inaugurated on March 7, the factory currently employs 20 workers, but ...
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News briefs
Altofare reportedly to renegotiate its debt
Altofare, an Italian supplier of components to the luxury goods industry, including footwear, is preparing to renegotiate its debt with creditors, according to the news agency Bloomberg. The group has hired the consultancy KPMG and the law firm Chiomenti for advice on its debt, Bloomberg reported, citing people familiar with ...
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News briefs
Asos’ key shareholders hike their stakes
Bestseller, owned by Danish billionaire Anders Holch Povlsen, increased its stake in Asos to 28.0 percent from 27.1 percent on March 17 through its subsidiary Aktieselskabet, according to bourse filing released by the London Stock Exchange on March 19. Meanwhile, on March 19, Frasers Group hiked its stake in the ...
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News briefs
Sneakersnstuff is back on track
Reziprok, the new owner of Sneakersnstuff, also referred to as SNS, has appointed Erik Manzano Fagerlind as the new CEO of the Swedish sneaker retailer. Manzano Fagerlind is a co-founder of SNS. On Jan. 20, after 25 years in the retail spotlight, SNS filed for bankruptcy at the Swedish Companies ...
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News briefs
Guess receives offer to be taken over by WHP
Guess’ board received a non-binding offer from WHP Global to take the US clothing, footwear and accessories company private for $13 a share in cash. The takeover, carried out through WHP Investments, would not buy the shares of certain existing shareholders, including Paul Marciano, Maurice Marciano and Carlos Alberini, the ...
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News briefs
Ananta Capital invests in the Indian sneaker brand Bacca Bucci
Bacca Bucci, an Indian direct-to-consumer sneaker brand launched in 2013, has raised an undisclosed amount from Mumbai-based Ananta Capital. “This investment from Ananta Capital is not just about funding – it’s about aligning with a partner that understands our vision and has the expertise to help us scale our ambitions ...
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News briefs
KNS International buys Birdies
KNS International, a US e-commerce and direct-to-consumer footwear company, has acquired Birdies, a contemporary lifestyle and fashion-forward women’s footwear brand. No financial details were released. “I have long admired the Birdies brand and the creative vision that founders Bianca Gates and Marisa Sharkey brought to life,” said Greg Tunney, Chief ...
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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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News briefs
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 ...
