News Briefs – Page 64
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News briefs
Converse announced plans to move its global headquarters to a...
Converse announced plans to move its global headquarters to a new location in Boston in April 2015 from its current base in North Andover, a town a few miles away in the same state of Massachusetts. Measuring more than 186,000 square feet, the new office space will be developed as ...
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News briefs
Apax Partners is preparing a senior secured financing package for...
Apax Partners is preparing a senior secured financing package for its $570 million acquisition of Cole Haan from Nike. The transaction will reportedly involve a $270 million seven-year term loan and a $100 million asset-based revolving credit.
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News briefs
CTC Groupe, a French consultancy that specializes in footwear and...
CTC Groupe, a French consultancy that specializes in footwear and leathergoods as well as gloves, is opening its fifth branch in China, in Xiamen. The group says that China is an important location because the country is responsible for almost 75 percent of the world's shoe production, and is growing. ...
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News briefs
The board of directors of Shoe Carnival has extended the...
The board of directors of Shoe Carnival has extended the expiration date of its $25.0 million share repurchase program to Dec. 31, 2013. The program is being funded by cash on hand, and shares can be purchased on the open market or through private deals. The total number and value ...
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News briefs
Galeries Lafayette, the French department store, is said to be...
Galeries Lafayette, the French department store, is said to be preparing a bid to buy out Printemps, its French rival retailer. Both fashion giants have multi-story flagship stores in Paris located next to each other. According to Challenges, a French business magazine, Galeries Lafayette would be ready to spend approximately €1.6 billion ...
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News briefs
Braccialini has announced the terms of a restructuring plan, following...
Braccialini has announced the terms of a restructuring plan, following a meeting between the company's management and union representatives at the end of December. The Tuscan leathergoods group controls the Braccialini, Gherardini and Francesco Biasia brands, and holds the Vivienne Westwood license. The agreement calls for lower wages and shorter work hours ...
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News briefs
An Italian shoe company, Olando Chelini, has halted production of...
An Italian shoe company, Olando Chelini, has halted production of its high-end women's sandals due to a squeeze on credit facilities, which is similarly affecting a number of other shoe and apparel companies in Italy as banks are reacting to the economic crisis in the country. Local authorities are looking into ...
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News briefs
The Danish children's clothing company H. Utoft has purchased all...
The Danish children's clothing company H. Utoft has purchased all the shares of A Fant, a children's shoe manufacturer from Denmark. Last year, H. Utoft bought 60 percent of the shares in A Fant, and now it has bought the balance of the equity. H. Utoft is already behind four ...
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News briefs
Esprit announced last week that it has granted options on...
Esprit announced last week that it has granted options on 8,450,000 of its shares to certain unnamed individuals under a 3-year-old share options scheme. The shares will become gradually vested and can be exercised six years from now. This came after the secondary offering of shares launched by Esprit on Oct. 22, which was ...
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News briefs
Crocs has entered into an amendment to its restated credit...
Crocs has entered into an amendment to its restated credit agreement, expanding the existing $70 million line of credit set to expire in December 2016 with a five-year, $100 million revolving line of credit with interest rates 0.5 percentage points lower than before. The loan is provided by PNC Bank NA. ...
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News briefs
Jones Bootmaker is planning to shut its Eastbourne headquarters, in...
Jones Bootmaker is planning to shut its Eastbourne headquarters, in Sussex, and relocate all its front-end departments to London. As reported by Drapers, the U.K.-based footwear retailer is entering a period of consultation about the move, which would affect between 30 and 40 staff members. Recently, the company announced that ...
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News briefs
Faguo, a small French brand of trendy casual shoes, has just...
Faguo, a small French brand of trendy casual shoes, has just raised €1.5 million from a French private investor. The funds will support the company's plans to expand its product offering and accelerate its commercial deployment both in France and internationally. The French brand, which expects its sales to grow by 70 percent ...
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News briefs
The new business plan for Italy's Sixty Group was presented...
The new business plan for Italy's Sixty Group was presented at a meeting at the Ministry of Economic Development on Dec. 6. The plan envisages the creation of a new company with only 50 of the 400 employees at its head office in Chieti. That may rise to 120 by 2018 if revenues reach ...
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News briefs
Weyco Group, the U.S. parent company of Florsheim, Bogs, Nunn...
Weyco Group, the U.S. parent company of Florsheim, Bogs, Nunn Bush and other footwear brands, said that it will accelerate payment of its regular dividend of 17 cents for the second quarter on Dec. 31 to avoid a potential increase in capital gain taxes in the U.S. in 2013. Quarterly cash dividends would typically ...
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News briefs
Jos Sengers, a former senior executive of Bata Industrials, has...
Jos Sengers, a former senior executive of Bata Industrials, has created a new company for the development of new footwear concepts and sourcing in behalf of European and Australasian companies. Based in the Netherlands, he is working with a partner in Dongguan, China, who has been developing safety, sports and children's shoes ...
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News briefs
After selling his shares in Salvatore Ferragamo, Massimo Ferragamo has...
After selling his shares in Salvatore Ferragamo, Massimo Ferragamo has now also halved his share in Ferragamo Finanziaria, the family holding company that controls 57.7 percent of the listed company, in which every one of the six Ferragamo brothers participates. Massimo Ferragamo, who sold the shares to his brothers, now ...
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News briefs
With a personal fortune evaluated at more than $2.5 billion,...
With a personal fortune evaluated at more than $2.5 billion, Hanni Toosbuy Kasprzak, who has chaired Ecco's supervisory board since 1996, is the wealthiest woman in Denmark according to a Danish newspaper, Berlingske. That's way ahead of the No. 2 in the ranking, Sofie Kirk Kristiansen, heiress to the Lego toy empire. ...
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News briefs
Nike Inc. reported last month a definitive agreement to sell...
Nike Inc. reported last month a definitive agreement to sell its casual footwear brand, Cole Haan, to an investment fund, Apax Partners, for $570 million. It had already sold Umbro to Iconix a few weeks earlier (more on this in SGI Europe). The price corresponds to more than one year ...
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News briefs
Famous Footwear, a British shoe retailer that has nothing to...
Famous Footwear, a British shoe retailer that has nothing to do with the chain operated by Brown Shoe Co. in the U.S., has gone into administration, a former of chapter 11 bankruptcy, after accumulating losses due to a difficult market environment. According to just-style.com, a restructuring specialist, GA Europe, will ...
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News briefs
Charles Vögele may be about to be sold to Inditex,...
Charles Vögele may be about to be sold to Inditex, according to a rumor that was neither confirmed nor denied, but boosted the shares of the Swiss retailer by 16 percent on the Swiss Stock Exchange. The company's chief executive, Franck Beeck, resigned at the end of September with immediate ...
