News Briefs – Page 73
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News briefs
Fresh on the heels of its acquisition of Jimmy Choo,...
Fresh on the heels of its acquisition of Jimmy Choo, Labelux has just added Belstaff, the outdoor apparel retailer, to its stable of brands. The latest purchase, from the Italian firm Clothing Company, is another step in Labelux' effort to expand with international labels. Belstaff, which has 14 own stores, ...
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The Tod's Group has become a shareholder of La Scala,...
The Tod's Group has become a shareholder of La Scala, the famous opera house in Milan, with an investment of €5.2 million spread over four years. Tod's worked with the theater a few months ago on a video clip titled “An Italian Dream,” likening the process of producing shoes to ...
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Bertrand Puech, president of Hermès International, asked LVMH to halve...
Bertrand Puech, president of Hermès International, asked LVMH to halve its stake of 20.1 percent in the company to boost the number of shares publicly traded on the Paris stock exchange, which have been reduced to 7 percent of its equity. He did so in an interview with the French ...
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Hanover Finanz has reportedly increased its shareholding in Ludwig Reiter,...
Hanover Finanz has reportedly increased its shareholding in Ludwig Reiter, but the size of the German investment company's equity could not be determined. Hanover Finanz provided financing to the Austrian shoe producer in 2004 and 2007. The investment company is also a shareholder of Melvo.
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BAG, the parent company of NeroGiardini, has made an investment...
BAG, the parent company of NeroGiardini, has made an investment of €40 million to acquire the building housing its flagship store at 9, Corso Venezia, in downtown Milan. It will use the additional 2,400 square meters to set up a prestigious new head office and showroom in a bid to ...
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Steve Madden has acquired The Topline Corporation, a privately held...
Steve Madden has acquired The Topline Corporation, a privately held designer, producer, and marketer of private-label and branded footwear. The acquisition was completed for $55 million in cash subject to a working capital adjustment, plus an earn-out provision based on financial performance through June 30, 2012. Founded by William F. ...
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The Qatar Luxury Group, created three years ago by the...
The Qatar Luxury Group, created three years ago by the ruling family of the emirate, has acquired a 52.73 percent stake in Le Tanneur, a major French leathergoods company whose sales rose by 7.4 percent to €57.3 million last year. It is not sure whether it is going to launch ...
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Fung Capital, one of the private investment vehicles of the...
Fung Capital, one of the private investment vehicles of the family that controls Li & Fung, has reportedly made an offer for Mandarina Duck, one of the leathergoods brands controlled by the bankrupt Mariella Burani Fashion Group through Antichi Pellettieri. The Fung family has already acquired control of Cerruti and ...
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A retail group from Thailand, Central Retail Corporation, has been...
A retail group from Thailand, Central Retail Corporation, has been allowed to acquire 100 percent of the shares of La Rinascente, the leading Italian chain of department stores, for €205 million. A court in Milan rejected an attempt by Maurizio Borletti to block the sale. Borletti, who belongs to the ...
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A new tannery is starting up at Capitao Eneas in...
A new tannery is starting up at Capitao Eneas in the Brazilian state of Minas Gerais. The main client will be Marluvas, a local manufacturer of safety shoes that was getting its leather from far away.
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Yue Yuen Industrial and Luen Thai Holdings have come together...
Yue Yuen Industrial and Luen Thai Holdings have come together in a strategic alliance, called Yuen Thai Industrial Company, that will focus on developing sports apparel for the global market. It plans to become one of the world's biggest apparel suppliers in just a few years. Yue Yuen, the world's ...
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Hotter, the British brand of comfort shoes, is reportedly investing...
Hotter, the British brand of comfort shoes, is reportedly investing £500,000 (€574,150-$815,830) in a new conveyor system and other equipment to increase output at its factory in Lancashire to 1.6 million pairs this year. According to Drapers, its weekly production is set to grow to 49,000 pairs at the end ...
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Piper, a private equity firm, has taken a minority stake...
Piper, a private equity firm, has taken a minority stake in Celtic Sheepskin, a footwear and clothing producer based in Cornwall, England. Celtic Sheepskin is a 20-year-old family-owned business that has annual sales of more than £8 million (€9.2m-$13.1m); it has grown by about 20 percent every year for the ...
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Brown Shoe Company has completed the private placement of $200...
Brown Shoe Company has completed the private placement of $200 million worth of senior notes with annual interest of 7 1/8 percent, maturing in 2019, or $50 million more than had been previously announced. The U.S. company wanted to raise the funds in part to redeem $150 million worth of ...
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The Italian footwear company Zeis Excelsa has taken over the...
The Italian footwear company Zeis Excelsa has taken over the apparel manufacturing activities of the Dirk Bikkembergs group located in the Italian town of Fossombrone. The transaction was carried out by Karma, a wholly owned unit of Zeis, which will rent the facility. A separate company, Karma Apparel, bought the ...
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India has been chosen by Vulcabras as the country where...
India has been chosen by Vulcabras as the country where it will make uppers for its athletic footwear. The Brazilian company has announced an agreement in principle to acquire a production unit for this purpose in Chennai that currently employs around 1,000 people. The plan is to invest $50 million ...
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Sources have told Dow Jones Newswires that Jones Group, the...
Sources have told Dow Jones Newswires that Jones Group, the owner of Nine West, is making a play for Jimmy Choo. TowerBrook Capital is the owner of Jimmy Choo, and is currently looking for a buyer. Other companies interested in the luxury shoe brand include TPG, an American buyout firm, ...
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Brown Shoe Company intends to offer $150 million in senior...
Brown Shoe Company intends to offer $150 million in senior notes due in 2019 in a private placement. The company will use the proceeds from the offering to purchase outstanding $150 million of its 8 3/4 percent senior notes due 2012.
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News briefs
A few months after opening a web store in the...
A few months after opening a web store in the Netherlands, Zalando, the big and growing German e-commerce retailer, has launched an Italian site, www.zalando.it. The online shop carries more than 600 brands and 40,000 products between shoes, apparel, bags and accessories. The Italian site is managed from Berlin.
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News briefs
Because of limitations in distribution agreements with its partners, Zappos...
Because of limitations in distribution agreements with its partners, Zappos will no longer ship its product to Canada. A note from the chief financial officer and chief operation officer, Chris Nielsen, that was posted on the company's Canadian website also noted that it wanted to avoid hassles with shipping such ...
