News Briefs – Page 58
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News briefs
DSW has acquired an initial 44 percent stake in Town...
DSW has acquired an initial 44 percent stake in Town Shoes, the largest footwear and accessories retailer in Canada, for C$68 million (€44.6m - $61.7m). DSW said it had looked at Canadian entry options for some time and decided to acquire an existing successful operation, and to use this operation ...
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A majority of more than 90 percent of Vivarte's 172...
A majority of more than 90 percent of Vivarte's 172 creditors have agreed in principle to a proposal to reschedule its debt and to support the French group's restructuring program. The new financing terms will be established following a four-month conciliation process. As previously reported, Charterhouse and other major shareholders ...
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The Merkur Shoe Group (MSG), a German buying group for...
The Merkur Shoe Group (MSG), a German buying group for shoe retailers, is taking over 23 of the 56 shoe shops of Fink Schue + Sport, the insolvent German retailer. They are not touching any of the eight sporting goods stores that have been operated by Fink. Members of MSG will be ...
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Labelux Group, which took over Jimmy Choo in May 2011,...
Labelux Group, which took over Jimmy Choo in May 2011, is said to be studying a public offering on the London Stock Exchange for the brand that would value it at about £1 billion (€1.99bn-$1.66bn), but it is reportedly considering other alternatives to monetize its investment in the company, such ...
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Alibaba, the biggest Chinese e-commerce operator, is seeking to go...
Alibaba, the biggest Chinese e-commerce operator, is seeking to go public on the New York Stock Exchange or on Nasdaq with an offer intended to raise upto $15 billion for its further development. The group last reported a 51 percent increase in its revenues to $1.8 billion for the quarter ...
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A British equity fund, Eurazeo, is acquiring a 10% stake...
A British equity fund, Eurazeo, is acquiring a 10% stake in Desigual through an equity increase of €285 million designed to support the expansion of its sales network and its diversification into shoes, sports clothing and other product categories; Desigual's sales grew by 18 percent in 2013 to €828 million. ...
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Prada said that the deal confirming an 80-percent acquisition of...
Prada said that the deal confirming an 80-percent acquisition of Angelo Marchesi Srl, the parent company of Milanese eatery Pasticceria Marchesi, has been closed. The company gave no indication of the value of the deal. Pasticceria Marchesi, located on the elegant Corso Magenta, is known across the city for its ...
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The big Chinese Huajian Group in Dongguan plans to open...
The big Chinese Huajian Group in Dongguan plans to open a factory in Ethiopia, near Addis Ababa, that is supposed to manufacture about five million pairs of shoes a year with some 10,000 workers. Jean-Pierre Bidegain, the French journalist who is reporting the project, saw some of the Ethiopian workers ...
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A Japanese manufacturer of shoes and leathergoods, Hiroki, is also...
A Japanese manufacturer of shoes and leathergoods, Hiroki, is also starting up a factory in Ethiopia this month. Called Hiroki Addis, it will make leather shoes, garments and handbags with local leathers that will be exported to Japan.
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News briefs
Genesco has amended and restate its revolving credit facility for...
Genesco has amended and restate its revolving credit facility for an aggregate principal amount of $400 million, including a $70 million sublimit for the issuance of letters of credit and other clauses. A sub-facility for the U.K. limits the total amount to a maximum credit of $50 million, one-fifth of ...
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Arvato, a subsidiary of the Bertelsmann publishing group, is taking...
Arvato, a subsidiary of the Bertelsmann publishing group, is taking over Netrada, a German e-commerce platform that recently filed for bankruptcy. Netrada operates more than 80 online stores in the fashion sector including those of Görtz, Esprit, C&A, Lacoste and Puma. Most of the 2,200 employees of Netrada should keep ...
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Robert Polet, the former chief executive of the Gucci Group,...
Robert Polet, the former chief executive of the Gucci Group, is investing an unspecified amount in Scarosso, a fast-growing German online shoe shop founded three years ago by two young managers, Moritz Offeney and Marco Reiter. It specializes in the sale of high-quality men's and women's shoes from the Marche ...
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Dr. Martens has announced that, further to a statement made...
Dr. Martens has announced that, further to a statement made on Oct. 24, 2013, an investment vehicle backed by the Permira Funds has completed the acquisition of R. Griggs Group, the parent company and licensee-in-perpetuity of the Dr. Martens brand, for £300 million (€364.2m-$493.5m). In addition, the iconic British brand ...
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Birkenstock plans to move its marketing, communication and administrative department...
Birkenstock plans to move its marketing, communication and administrative department to new offices in Neustadt in March to join the group's sales team, which moved there from its former headquarters in Vettelschoss at the beginning of this year. Birkenstock has rented three buildings in the business park of Neustadt, covering ...
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Adelchi has broken up with its former manufacturing partner in...
Adelchi has broken up with its former manufacturing partner in Bangladesh, Apex Adelchi, which has set up its own independent operation, and formed a partnership with another shoe manufacturer, Bengal Shoe Industries Ltd. (BSIL), that has a three-year-old, state-of-the-art factory employing 1,000 people at Rakhala. It is a subsidiary of ...
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Chinese authorities are reportedly conducting an investigation into the causes...
Chinese authorities are reportedly conducting an investigation into the causes of a fire that took the lives of at least 16 workers at the Dadong Shoe factory in the town of Wenling, in Zhejiang province, on Jan. 14. Firefighters rescued more than 20 employees, and five of them were taken ...
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CTC has announced the acquisition of 100 percent of the...
CTC has announced the acquisition of 100 percent of the capital of STR France, of which it has been a shareholder alongside U.S.-based STR since 2001. CTC is a big French consultancy firm specializing in quality assurance, testing and training for the shoe and leathergoods businesses. STR France offers the ...
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Barratts, the bankrupt British shoe retail chain that previously belonged...
Barratts, the bankrupt British shoe retail chain that previously belonged to Stylo, has shut down 19 of its remaining 75 stores, affecting about 200 of its 1,035 employees. The court-appointed administrators of the chain, Duff & Phelps, have reportedly dismissed Michael Ziff, the company's chairman and chief executive, along with ...
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Discussions are still being held with potential investors in Görtz...
Discussions are still being held with potential investors in Görtz and they may lead to a decision to sell the big German shoe retailing company in the first quarter of 2014, but there is apparently no pressure to make the move. Gôrtz has become profitable again at the operating level ...
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Lohemann's, an American chain of 39 low-priced shoe stores, has...
Lohemann's, an American chain of 39 low-priced shoe stores, has filed for Chapter 11 bankruptcy protection for the third time since 1999, reportedly because it was late in moving into e-commerce at the end of 2011. Liquidation sales are due to begin in January. Meanwhile, three strategic financial buyers are ...
