Italian shoemakers start using the VCS self-assessment ESG program
VCS (Verified & Certified Steps), a software package allowing the self-assessment of environmental, social and governance (ESG) performances launched by Assocalzaturifici, the Italian footwear association, is currently being tested by three Italian shoemakers.
San Marina placed into receivership
The French footwear retailer San Marina was placed under controlled administration, or receivership, on Sept. 22 at its request by a Marseille-based commercial court.
Tod’s’ minority shareholder buyout to start on Sept. 26
DeVa Finance, which is controlled by DI.VI. Finanziaria di Diego Della Valle & C, announced that its offer to buy out Tod’s’ minority shareholders will run from Sept. 26 to Oct. 25.
Görtz and Surf4Shoes file for bankruptcy amid uncertainty, soaring inflation
Görtz and Surf4Shoes are among the latest companies caught in a wave of bankruptcies that appears to be gathering pace in Germany. Heightened consumer uncertainty, sky-rocketing inflation and rising energy prices are seen as the main destabilizing factors, as the war in Ukraine rages and the European Union’s sanctions against ...
The Italian retailers Scarpe&Scarpe and Pittarosso are due to merge
The financial group Pillarstone has taken over Scarpe & Scarpe and is expected to create in the near future a large footwear retailing group in Italy by merging it with Pittarosso. Responsible & Sustainable Corporate Turnaround Fund (RSCT), a turnaround fund managed by Pillarstone Italy, obtained 70 percent of Scarpe ...
OR Group puts its Siberian shoe factory up for sale
The Russian shoe retailer OR Group, formerly known as Obuv Rossii, has started searching a buyer for its Berdsk-based shoe factory S-TEP, the Novosibirsk regional government said in a statement. S-TEP suspended operations on Aug. 1 due to financial difficulties.
Richemont to sell majority stake in YNAP to Farfetch and Emirati businessman
Richemont has signed a deal to initially sell a 47.5 percent stake in its online fashion retailing unit Yoox Net-a-Porter (YNAP) to Farfetch and a 3.2 percent stake to Symphony Global, one of the investment vehicles of the Emirati businessman Mohamed Alabbar.
ABG reaches deal to take over Ted Baker
The American brand management company Authentic Brands Group (ABG) and Ted Baker have reached an agreement on the terms of a recommended final cash offer by ABG-Robin BidCo, a newly incorporated entity wholly-owned by ABG, to acquire the entire share capital of the British fashion group for 110 pence ...
Coats buys Renoflex and becomes a footwear component giant
Hot on the heels of the acquisition of Texon, a U.S. provider of footwear solutions, Coats announced the takeover of Rhenoflex, a German manufacturer of structural material solutions for the footwear industry. The back-to-back acquistions have turned the British industrial thread manufacturer into a significant supplier of components for the ...
Della Valle wants to delist Tod’s
Tod’s’ main shareholder, Diego Della Valle, is offering €40 per share with the objective of delisting the Italian luxury goods company.