News Briefs – Page 71
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News briefs
Tacco Footcare, the German manufacturer of insoles, shoe care products...
Tacco Footcare, the German manufacturer of insoles, shoe care products and orthotics, declared on Oct. 14 that it has gone into insolvency. The companies Pietsch and Fox-Shoecare, both affiliates of Tacco Footcare, are also affected by the group's bankruptcy. Although the order situation has been stable, the companies have experienced ...
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Brown Shoe Company has finalized the sale of its men's...
Brown Shoe Company has finalized the sale of its men's basketball and lifestyle shoe brand, And 1, to Galaxy International for $55 million in cash. Brown Shoe plans to use the proceeds from the deal to pay down debt. The U.S. shoe retail and wholese company acquired And 1 in ...
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The real estate investment company of Bernd Hummel, the German-based...
The real estate investment company of Bernd Hummel, the German-based licensee for the KangaROOS brand based in Pirmasens, has acquired the nearby factory of Biodyn, the German manufacturer of toning shoes that became recently insolvent. The owners of Biodyn, who were previously distributing MBT in Germany, had set up the ...
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Macintosh Retail Group has repurchased 289,578 of its own shares...
Macintosh Retail Group has repurchased 289,578 of its own shares at an average price of €11.52, for a total amount of €3,335,939. The buyback took place through several block trades and went relatively quickly. The Dutch retail group, which owns Brantano, Scapino, Jones Bootmaker and other sho retail chains, had ...
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News briefs
Members of the Ferragamo family have finalized the repurchase of...
Members of the Ferragamo family have finalized the repurchase of a 2 percent stake in the fashion company from the Chinese businessman Peter Woo. The stake was bought in July by Ferragamo Finanziaria, a family holding company controlling the group, from Woo's company, Majestic Honour. On Sept. 30, the holding ...
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News briefs
PPR is expanding the capacity of its main international distribution...
PPR is expanding the capacity of its main international distribution and logistics platform for Gucci and its other brands of luxury products. For this purpose, the group has bought 40,000 square meters of land in the industrial zone of Sant'Antonino, in the Ticino canton of Switzerland. Operated by a PPR ...
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News briefs
B.A.G., the Italian company that owns NeroGiardini, NG NeroGiardini and...
B.A.G., the Italian company that owns NeroGiardini, NG NeroGiardini and NeroGiardini Junior, is scheduled to officially inaugurate in the coming weeks a fully automated 12,000-square-meter warehouse for the dispatching of finished products near its headquarters in Monte San Pietrangeli, in the province of Fermo. The company claims that the warehouse ...
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News briefs
LVMH has agreed to acquire a controlling interest in Heng...
LVMH has agreed to acquire a controlling interest in Heng Long International, one of the world's five major producers of crocodile leather, to secure supplies of this prestigious raw material for its numerous brands. The company is paying the equivalent of €92 million for the company, or about double its ...
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The rapidly expanding Groupe Royer, which has been very successful...
The rapidly expanding Groupe Royer, which has been very successful as the French licensee of Converse, is finalizing the signature of a five-year license for Spring Court, a French brand that became famous in the 1960s because its tennis shoes were worn by John Lennon and Serge Gainsbourg. The Spring ...
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News briefs
According to reports from Turkey, several important Italian shoe manufacturers...
According to reports from Turkey, several important Italian shoe manufacturers are contemplating a possible investment in the country, drawing on the local skilled manpower and the supply of high-quality materials and components. They are reportedly looking at areas in the regions of Bursa, Denizli, Kayseri, Trabzon and Samsun.
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News briefs
Zalando has opened a new logistics center in Brieselang near...
Zalando has opened a new logistics center in Brieselang near Berlin. According to Zalando, the new facility provides the company with the opportunity to increase its capacities quickly andbe more flexible. With this step, Zalando aims to be able to ship significantly more product in general and to serve customers ...
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News briefs
The éS skate shoe brand is being discontinued after the...
The éS skate shoe brand is being discontinued after the next spring season, but its owner, Sole Technology, is hoping that it will be able to revive the brand if market conditions improve. The company's chief executive, Pierre-André Senizergues, called it “temporary silent market mode,” saying that the skate segment ...
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News briefs
A private equity fund backed by LVMH Group has made...
A private equity fund backed by LVMH Group has made its first investment in India. L Capital Asia, which is also back by Groupe Arnault, has taken a 25.5 percent stake in Genesis Luxury Fashion, a high-end fashion distributor that handles such brands as Jimmy Choo, Canali, Paul Smith and ...
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News briefs
Lanxess, the specialty chemicals manufacturer, is investing more than €40...
Lanxess, the specialty chemicals manufacturer, is investing more than €40 million in China, mostly in the leather industry. A €30 million leather chemicals plant started construction last month in Changzhou, Jiangsu province, that will be able to produce 50,000 tonnes per year and that is expected to operational in the ...
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News briefs
VF Corporation has completed the purchase of Timberland, after obtaining...
VF Corporation has completed the purchase of Timberland, after obtaining regulatory approval from the relevant antitrust authorities. The acquisition will give a boost to the fledgling shoe operations of VF, which is stronger in apparel through brands such as The North Face, and to Timberland's own apparel operations. Patrik Frisk, ...
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News briefs
Leder & Schuh has received approval by Austria's antitrust authorities...
Leder & Schuh has received approval by Austria's antitrust authorities for its acquisition of Stiefelkönig (see previous issue of Shoe Intelligence). Through Humanic and its other shoe retail chains, Leder & Schuh is estimated to have a share of 22 percent in the Austrian shoe market. Stiefelkönig has a share ...
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News briefs
Macintosh Retail Group, the Dutch retail conglomerate that owns Brantano,...
Macintosh Retail Group, the Dutch retail conglomerate that owns Brantano, Scapino and other shoe retail chains, has repurchased $4,649,000 worth of its own shares to cover outstanding stock options for its staff, completing the program ahead of its scheduled expiration date of Sept. 30. It had authorized ABN Amro Bank ...
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News briefs
Berkshire Hathaway, the big American investment company that acquired a...
Berkshire Hathaway, the big American investment company that acquired a 20 percent stake in Masai Barefoot Technology (MBT) in 2007, is said to be preparing to increase it to a controlling interest. Company officials would not comment, but they denied a rumor that Jan Stig Andersen, the former Danish Ecco ...
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News briefs
While opening its first store in Moscow, Jimmy Choo is...
While opening its first store in Moscow, Jimmy Choo is taking over full control of its operations in Hong Kong, which were previously shared with Bluebell through a joint venture. The current activities comprise five single-brand stores in Hong Kong and sales to various local department stores.
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News briefs
L Capital, the investment group controlled by LVMH, continues to...
L Capital, the investment group controlled by LVMH, continues to expand in Asia with the acquisition of a 25.5 percent stake in India's Genesis Luxury Fashion group, which markets Jimmy Choo, Burberry, Just Cavalli and other foreign brands in India. Besides investments in Antichi Pellettieri and other European firms, L ...
