US regulator moves to block Tapestry’s acquisition of Capri
On April 22, the US Federal Trade Commission (FTC) decided to sue to block Tapestry’s $8.5 billion acquisition of Capri Holdings. However, the companies plan to defend their case in court and to complete the transaction by the end of 2024.
FDRA calls on US president to remove duties on Chinese footwear imports
Matt Priest, the president and CEO of Footwear Distributors & Retailers of America (FDRA), is urging the US president, Joe Biden, to remove by executive order Section 301 import tariffs imposed on China.
Allbirds urged to bolster its share price by Nasdaq
On April 2, Allbirds was notified by Nasdaq that its share price was no longer compliant with the rules of the New York-based stock exchange because the closing bid price of its Class A common stock has fallen below $1.00 per share for 30 consecutive days.
Asos, Boohoo, George at Asda commit to green claim rules in the UK
The UK’s Competition and Markets Authority (CMA) said that Asos, Boohoo and George at Asda have signed undertakings that commit them to an agreed set of rules around the use of green claims. The regulator also issued an open letter urging fashion retailers to review their claims and practices in ...
UFG files for bankruptcy
Unlimited Footwear Group (UFG) has unexpectedly filed for bankruptcy in the Netherlands.
How French retailers can save up to a year’s rent on their lease
In a comprehensive interview, Tanguy Pissembon, a Paris-based legal counsel in real estate, explains how commercial tenants in France can significantly save on their rents when renewing their leases by properly using the country’s legislation.
Alviero Martini under court administration amid supply chain labor exploitation charges
Alviero Martini has been placed under court administration by the Milan court, following a probe that found its supply chain relied on Chinese sweatshops that exploited workers to produce the Italian fashion house’s accessories and shoes.
Minelli partially saved
The French footwear retailer Minelli is being acquired by three investors and avoids going into liquidation, the news agency AFP reported citing a decision by a Marseille-based commercial tribunal. However, the investors will only keep a third of Minelli’s employees and less than half its stores.
CEC welcomes EU comprise on ecodesign
The European Footwear Confederation (CEC) welcomed a compromise reached on Dec. 4 between the European Parliament and the European Council regarding proposed legislation on ecodesign for Sustainable Product Regulation launched by the European Commission on March 30, 2022. It also believes that the forthcoming legislation could relaunch leather as a ...
EU to ban the destruction of unsold clothing and footwear
During the night of Dec. 4, the European Parliament and the European Council reached a provisional agreement, at a technical level, on revising the European Union’s ecodesign framework for sustainable products, the parliament said.