News Briefs – Page 32
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News briefs
The Vivarte group says it has entered exclusive negotiations to...
The Vivarte group says it has entered exclusive negotiations to sell San Marina, one of the last footwear retail chains in its possession, to Thierry Le Guénic and Stéphane Collaert, the French entrepreneurs who have already bought another shoe retail chain, Cosmoparis, and the Chevignon brand of sportswear. San Marina ...
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Two offers have reportedly been submitted for the acquisition of...
Two offers have reportedly been submitted for the acquisition of La Manufacture Charentaise, the company set up last year to put together the operations of four manufacturers of slippers in the Charente region of France: Rondinaud, Ferrant, Degorce and Laubuge (Shoe Intelligence Vol. 20, N° 13+14 of July 20, 2018). ...
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Chaussures Noël, a French manufacturer of children's shoes, has obtained...
Chaussures Noël, a French manufacturer of children's shoes, has obtained bankruptcy protection from creditors, with the permission to continue to operate normally until Dec. 15. The family-owned company, which already went through a reorganization in 2016, hopes to attract a new investor. After divesting other assets, the company has been ...
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Zeis Excelsa has signed a five-year licensing agreement to use...
Zeis Excelsa has signed a five-year licensing agreement to use a well-known Italian footwear brand, Alberto Guardiani, for a line of sneakers that will come into the market in spring/summer 2020. Made in Portugal, Morocco and China, it is priced at €130-160 per pair at retail. The eponymous designer took ...
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News briefs
Cole Haan, the American footwear brand sold by Nike to...
Cole Haan, the American footwear brand sold by Nike to Apax Partners in 2013, announced that it has filed a draft registration statement with the U.S. Securities and Exchange Commission in preparation for an initial public offering (IPO). The pricing and the number of shares on offer have not yet ...
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News briefs
Truworth of South Africa has announced an agreement to refinance...
Truworth of South Africa has announced an agreement to refinance Office, the British shoe retail chain that it bought four years ago for £256 million (€297.6m-$332.3m). Standard Bank will provide a debt facility of £32.5 million (€37.8m-$42.2m) that replaces a former line of credit. The closure of some loss-making stores ...
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News briefs
The Sachdeva family, which owns one of the largest shoe-production...
The Sachdeva family, which owns one of the largest shoe-production companies in India, is launching Vazco Salbatore, a new brand for the international market. The uppers are made in India and the shoes are assembled in Portugal. The Sachdevas oversee the collection's design and product development, providing technical assistance to ...
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News briefs
Moreschi has signed a so-called “solidarity contract” with the labor...
Moreschi has signed a so-called “solidarity contract” with the labor union that represents its employees. For one year, the employees will reduce the amount of working hours at rates of 15 to 34 percent in all departments, and their pay will be cut by 22 percent on average. The Italian ...
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News briefs
Cesare Paciotti has decided to terminate the employment contracts for...
Cesare Paciotti has decided to terminate the employment contracts for 24 out of the 64 members of its staff. They were mostly engaged in the production unit of the company, and they receive a government subsidy under Italian law. The number of layoffs may be reduced to 20 depending on ...
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News briefs
Looking for foreign agents, Stephane Kélian came back to the...
Looking for foreign agents, Stephane Kélian came back to the Micam show in Milan last month after many years of absence with a new corporate identity, new management and a more accessible collection made for the most part in Spain. The line also features some stylish sneakers made in China. ...
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News briefs
Paco Herrero has filed for bankruptcy protection with a court...
Paco Herrero has filed for bankruptcy protection with a court in Alicante. The court has appointed an administrator to run the Spanish shoe company, which has apparently never fully recovered from the economic crisis of 2008. The firm was aiming to export two-thirds of its production overseas, without success. The ...
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News briefs
The Rino Mastrotto Group has widened its shareholders' base, with...
The Rino Mastrotto Group has widened its shareholders' base, with an investment firm, NB Aurora, acquiring a 11.6 percent stake for €20 million. NB Renaissance Partners owns 70 percent of the group. The Mastrotto family now owns a minority share in this leading Italian leather-manufacturing group.
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News briefs
Zalando has opened a new logistical center in Poland. It...
Zalando has opened a new logistical center in Poland. It will provide goods for more than 15 million customers worldwide from its “lounge web store,” the sales channel for German-based e-tailer's closeout sales. Fiege e-Com will manage the logistical center with 500 employees. It is located in Olztynek and covers ...
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News briefs
Dr. Martens is going to go public on the London...
Dr. Martens is going to go public on the London Stock Exchange at the end of this year or early in 2020, according to a report in Il Sole 24 Ore, the Italian business daily. Permira, the investment fund that bought the brand for £300 million (€347.0m-$385.8m) in 2013, is ...
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News briefs
Goldman Sachs has kicked off the sale of R.M. Williams,...
Goldman Sachs has kicked off the sale of R.M. Williams, sending information on the company's growth plans to interested parties. The new figures and the asking price published in the press are confusing and could not be verified by press time. We have already reported on its latest financial results ...
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News briefs
BASF has announced the opening of a new footwear innovation...
BASF has announced the opening of a new footwear innovation center in Taiwan in 2020. The facility is meant to further strengthen the capabilities of the performance materials company in the Asia-Pacific region. The center will give footwear professionals access to BASF materials that can help develop future footwear, with ...
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News briefs
FeetMe has raised €9.4 million in new funding. The French...
FeetMe has raised €9.4 million in new funding. The French footwear technology start-up uses smart materials in insoles to analyze the wearers' health in real time. The company plans to use the money to fund a program of clinical trials of its technology in rehabilitation centers and hospitals around the ...
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News briefs
Wolverine Worldwide's board has approved a share repurchase program which...
Wolverine Worldwide's board has approved a share repurchase program which will return $400 million to shareholders over the next four years. The footwear group said it will repurchase shares as appropriate and in compliance with any restrictions contained in the company's credit agreements.
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News briefs
Standard & Poor's has downgraded the rating outlook for Wolverine...
Standard & Poor's has downgraded the rating outlook for Wolverine Worldwide from stable to BB+ because its financial leverage has risen to three times due to spending on share buybacks. The leverage may grow beyond three times if the Ebitda margin doesn't improve from its current level of 5 percent ...
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News briefs
Velasca, a fast-growing Italian brand of shoes and leathergoods, has...
Velasca, a fast-growing Italian brand of shoes and leathergoods, has closed an investment round of €4.5 million, jointly led by P101 and Milano Investments. A pool of private investors also participated in the capital increase. The company, which gets its shoes made in the Marche region of Italy, will use ...
