News Briefs – Page 10
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News briefs
SQIM raises €11m to develop mycelium-based materials
SQIM, an Italian start-up created in 2015 and specialized in materials bio-produced using mycelium, said that it has successfully closed an €11 million funding round in which participated CDP Venture Capital, ECBF VC, Kering Ventures and Progress Tech Transfer. The funds will enable SQIM, formerly known as Mogu, to launch ...
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Informa to merge its Tech digital businesses with TechTarget
Informa, a British publishing, business intelligence and exhibition organizer, has reached an agreement to combine its Tech’s digital businesses with TechTarget. “Today we significantly strengthen Informa’s position in the growing B2B Digital Services market, creating a platform to serve B2B customers at scale digitally, as we already do in Live ...
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LuisaViaRoma buys Holding IT
The Florence-based online multibrand retailer LuisaViaRoma has acquired Holding IT, the owner of Playground, a retailer of luxury sportswear stores operating under the banner Soft, and of FFW, a creator and manager of e-commerce sites for fashion brands. The combined group had sales of nearly €400 million in 2023 and ...
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Amer Sports files registration form for planned U.S. IPO
Finnish Amer Sports, Inc., which includes the Arc’teryx, Salomon, Wilson, Peak Performance and Atomic brands, among others, announced on Jan. 4, that it has filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission for a proposed initial public offering of its common stock. The number ...
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Footway to hold an EGM on Jan. 25
The e-commerce company Footway Group AB has convened an extraordinary general meeting for its shareholders on Jan. 25, 2024, at the company’s premises in Kista, Sweden. The company stated in a press release that it “will shortly apply for plan negotiations to complete the reconstruction formally,” and it is expected ...
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Lotto in a license agreement for Germany and Poland with Fashioncenter
WHP Global, a U.S. brand management company and owner of the Lotto label, has signed a long-term license agreement for the brand with Norderstedt-based Fashioncenter. A subsidiary of the Schmidt Group, Fashioncenter was recently entrusted with the license for the Kappa brand for 25 years and is now taking over ...
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LaShoe ceases operations
The German online shoe retailer LaShoe, which specializes in women’s shoes for hallux valgus - a misalignment of the big toe - and sensitive feet, will cease operations at the end of 2023. The Düsseldorf-based company, a subsidiary of the Walbusch Group, failed to sufficiently grow its customer base ...
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Golden Goose reportedly seeking to raise €1bn in IPO
Golden Goose plans is looking to raise about €1 billion from an initial public offering (IPO) scheduled in Milan next year, the news agency Reuters reported citing three people close to the matter. Permira, which has an 83 percent in the Italian sneaker brand, has appointed Bank of America, JP ...
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Farfetch acquired by Coupang
The luxury fashion online retailer Farfetch has been acquired by South Korean e-commerce company Coupang for an undisclosed sum. Coupang has already founded a company called Athena Topco LP together with the financial firm Greenoaks Capital Partners LLC for the purpose of the takeover. The deal reportedly provides the ...
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Shoe Carnival launches new $50m share buyback
Shoe Carnival’s board authorized a new share repurchase program for up to $50 million, effective Jan. 1, 2024. The new share repurchase program will replace an existing $50 million share repurchase program that was authorized on Dec. 14, 2022, and will expire on Dec. 31, 2023. The board also approved ...
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Holding Moda buys Dema
Holding Moda, the investment vehicle created in 2018 by Hind-Holding Industriale, has bought a majority stake in the Italian shoe maker Dema which is located near Naples and specializes in moccasins and sneakers. Holding Moda is creating a diversified hub of Italian fashion manufacturers and now controls 14 companies with ...
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Asso buys the Janet&Janet brand
The Italian shoe maker Asso has acquired Janet&Janet, a women’s footwear brand, from Sthart. Founded in 1987 by Silvano Donati and Sauro Silenzi in the Fermo footwear manufacturing district, in the Italian Marche region, Asso specializes in children’s shoes. In 2019, the company diversified into the adult segment by buying ...
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Leder & Schuh secures the Delka brand
The Austrian shoe retailer Leder & Schuh, owner of Humanic and Shoe4you, has taken over the trademark rights of the Austrian footwear retail banner Delka from Ara. The parties have agreed not to disclose the details of the transaction. Established in 1907, Delka filed for bankruptcy in the summer ...
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Louboutin sets up a joint venture in India with ABFRL
Christian Louboutin is joining forces with the Indian company Aditya Birla Fashion and Retail Limited (ABFRL). Under the deal, the French brand of luxury footwear will transfer its Indian business into a newly incorporated subsidiary of ABFRL, in which the partners will have equal stakes. Alexis Mourot, Christian Louboutin’s group ...
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News briefs
Kering buys 30% of Valentino
On Nov. 30, Kering completed the acquisition of a 30 percent shareholding in Valentino following clearance from the antitrust authorities. The french conglomerate had announced the purchase of the stake in the Italian fashion house on July 27, 2023. Kering bought the stake from the Qatari group Mayhoola for €1.7 ...
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News briefs
Frasers increases its stake in Boohoo to over 17%
Frasers Group has increased its stake in the online fashion retailer Boohoo to 17.22 percent from 16.50 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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Permira reportedly picks the banks for Golden Goose's IPO
The private equity Permira has selected the pool of banks that will arrange the initial offering (IPO) of Golden Goose, according to the dailies Financial Times and Il Sole 24 Ore. The coordinators of the IPO are JP Morgan, BofA Merrill Lynch and Mediobanca. Il Sole 24 Ore does not ...
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Shein reportedly files for an IPO in the U.S.
Shein, the Singapore-based fast fashion online retailer, has confidentially filed to go public in the U.S., according to The Wall Street Journal. Goldman Sachs, JP Morgan Chase and Morgan Stanley have been hired as lead underwriters on the offering, which could happen in 2024, it added. Shein was valued at ...
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Footway employees and directors invest into the company
Footway Group AB has announced that key employees and board members, together with investors, have acquired a significant portion of the Swedish company’s capital. The transaction comprises a total of approximately 8.8 million shares, representing about 8.7 percent of the company’s share capital and 10.4 percent of the voting rights. ...
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KG Schuhkay completes protective shield proceedings
The Hamburg-based footwear retailer KG Schuhkay has completed its protective shield proceedings. Schuhkay applied for self-administration under the German insolvency law in late March this year and entered protective shield proceedings at the end of May. Despite better-than-expected results, the business outlook was clouded by the fallout from the ...
