News Briefs – Page 21
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News briefs
Campus Activewear IPO runs April 26-28
The initial public offering (IPO) of Campus Activewear will be held on April 26-28. The transaction aims to raise about 14,000 million rupees (€170m) by selling 47.9 million shares. The price range of the IPO is 278-292 rupees (€3.38-3.63) per share. The shares are being sold by the businessmen Hari ...
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News briefsMaterial Exchange raises €25 million in Series A funding round
Material Exchange, the Swedish marketplace that helps firms source more sustainable materials, has secured €25 million via a Series A funding round. The round was led by Molten Ventures, with the continued support of previous seed investors, including Partech, Inventure, Norrsken, Lyra, and Day One Capital. Material Exchange said ...
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News briefs
South African sportswear retailer Studio 88 Group acquired by Mr Price
Fashion and home goods retailer Mr Price, a publicly-traded company based in Durban, South Africa, announced that it is acquiring 70 percent of the shares in Studio 88 Group, a major retailer of sneakers and apparel from Nike, Adidas, Vans and many other sportswear brands in South Africa, for 3.3 ...
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News briefsTod’s wants to enhance the value of its brands
Tod’s wants to enchance the value of its four brands this year and has stopped trading with Russia following the country’s invasion of Ukraine on Feb. 24, according to the company’s chairman and chief executive Diego Della Valle. The group owns the brands Tod’s, Hogan, Roger Vivier and Fay. Speaking ...
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News briefsKlarna acquires PriceRunner
Klarna, the fintech company that intermediates between retailers and customers, handling direct payments, payments after delivery and installment plans, has acquired all of PriceRunner, a comparison-shopping service operating in Sweden, Denmark, Norway and the U.K. Klarna will be adding PriceRunner’s product discovery, price comparisons and product reviews to its own ...
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News briefs
Steptronic goes into administration
Jimmy Saunders and Michael Lennon of the restructuring advisory practice Kroll were appointed joint administrators of Steptronic Footwear on March 9. Being placed in administration is a British form of bankruptcy proceedings. Steptronic is based in Rushden, Northamptonshire, and has over 3,000 high street and online outlets as customers. The ...
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News briefs
Serafini exits creditor protection program
The Italian shoemaker Serafini has exited a debt restructuring program, known as “concordato preventivo di continuità”, helped by a significant growth in e-commerce. “At the end of 2021 we exited the debt restructuring program,” explained Fabrizio Serafini, head of the company and fourth generation of the family who established the ...
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News briefs
ECB warns that SberBank units in the EU are failing
The European Central Bank (ECB) has assessed that the units of Russian lender SberBank in Austria, Slovenia and Croatia are failing or likely to fail because of a decrease in their liquidity. SberBank Europe, which is based in Austria, and its two subsidiaries in Slovenia and Croatia, have experienced ”significant ...
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News briefs
Frasers acquires troubled online retailer Studio Retail
Frasers Group, the parent company of Sports Direct, announced today it has acquired Studio Retail Limited and certain other assets of Studio Retail Group plc. The British online retailer Studio Retail Group had filed for administration earlier this month for itself and its wholly-owned subsidiary Studio Retail Limited after failing ...
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News briefs
Fire breaks out at an Alpargatas site
In the early morning of Feb. 21, a fire broke out at an Alpargatas plant located in the city of Santa Rita, in the Brazilian state of Paraíba. So far the company has not identified casualties and staff was released before the beginning of the work shift at the site. ...
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News briefs
Pikolinos streamlines its structure
Pikolinos has streamlined its structure by absorbing its leather supplier Pies Cuadrados, which like Pikolinos is owned by the Perán family. Through the reorganization, the company Molicopi, which owned Pies Cuadrados is being liquidated. In 2019, Pikolinos already modified its structure with a partial spin-off of its parent company. The ...
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News briefs
Designer Brands invests $2 m in black-owned factory
Designer Brands, the parent of the shoe retailer DSW Designer Shoe Warehouse, is investing $2 million in the first Black-owned footwear factory in the United States – JEMS by Pensole – to produce shoes designed by graduate students of the Pensole Lewis College of Business & Design (PLC). The shoes ...
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News briefs
Globo’s parent buys Conte of Florence
Cosmo, which manages about 100 stores in Italy under the Globo banner selling apparel, footwear and accessories, has bought for €3.1 million the Conte of Florence brand, along with the website domain and some stock, according to the website Pambianconews. Conte of Florence became famous in the 1970s when it ...
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News briefs
Crocs completes the acquisition of Heydude
Crocs completed the purchase of the privately-owned casual footwear brand Heydude on Feb. 17. The acquisition was funded by $2.05 billion in cash and 2,852,280 Crocs shares issued to Heydude’s founder. Heydude is expected to deliver annual revenues of $700 to $750 million, including the period of time prior ...
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News briefs
U.K. online retailer Studio Retail files for administration
The British online retailer Studio Retail Group filed for administration for itself and Studio Retail Limited, its wholly owned subsidiary, after failing to obtain a £25 million (€30m) short-term loan. The company also suspended its shares on the London Stock Exchange while it begins the U.K.’s form of bankruptcy proceedings. ...
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News briefs
Hengst files for bankruptcy
Hengst Footwear, which is based in the Dutch town of Steenwijk, has filed for bankruptcy, according to the local media. “This step was a difficult decision for our family,” Karen Hengst, who owns the company with her husband Hans, was quoted as saying. She cited the impact of the ...
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News briefs
Shoe Zone distributes treasury shares to managers
Shoe Zone distributed 12,878 ordinary shares out of treasury to its finance director, Terry Boot, the general counsel, Catherine Bowen, and the operations director, Steve Orr, in connection with their remuneration packages. Boot, who is also a director of the British footwear retailer, received 7,626 shares. As a result of ...
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News briefs
Genesco doubles its share buyback program
Genesco’s board of directors has authorized a $100 million increase to its existing $100 million share repurchase authorization. Under the existing share repurchase authorization announced in September 2019, the U.S. footwear company has bought roughly 1.72 million shares at a total cost of about $99.0 million, at an average price ...
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News briefs
Foot Solutions buys the Florida-based retailer Happy Feet Plus
Foot Solutions, a U.S. retailer of wellness footwear and custom orthotic insoles, is buying the Florida-based retailer Happy Feet Plus. Details of the transaction were not disclosed. Foot Solutions also announced the promotion of Taylor Berry to vice president of operations and Bryan Scott to senior vice president of ...
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News briefs
The Italian helmet firm Kask takes over the U.S. bootmaker Vogel
Kask, an Italian company founded in 2004 specialized in sports and work helmets, announced the acquisition of Vogel, a Manhattan-based maker of riding boots and other footwear since 1879. The purchase is part of Kask’s strategy of increasing its presence in the fashion business while remaining an established company in ...
