All Corporate articles – Page 6
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ArticleArnault family’s control over LVMH now secured for decades
On Oct. 23, 2023, Jean Arnault, the son of Bernard Arnault, turned 25 ensuring that the control of the LVMH group remains in the hands of the Arnault family for the coming decades, reported the Italian daily, Il Sole 24 Ore. In Dec. 22, 2008, Bernard Arnault, the chairman and ...
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ArticleVF shareholder pushes for turnaround plan
In a presentation, California-based activist investor Engaged Capital outlined that the parent company of Vans, The North Face (TNF), Timberland, Supreme and others is suffering from bloated overhead that is driving down shareholder value and called for a more detailed turnaround plan for VF Corp. It said that the overhead ...
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News briefs
H&M issues a maiden €500m green bond
H&M has issued an inaugural €500 million euro green bond with a maturity of eight years under its Euro Medium Term Note (EMTN) programme. According to the Swedish fashion retailer, the bond “generated great interest among a broad international base” of institutional investors and was more than 3.5 times oversubscribed. ...
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ArticleDeichmann names a new head of brand & licensing and ends the Onygo brand
The German shoe retailer Deichmann has appointed Dražen Pehar as its new head of brand & licensing, succeeding Jürgen Achenbach, who left the company in May to pursue a new role. Pehar, who has been working for the company since September, will be responsible for marketing activities for the ...
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News briefs
Taiwanese insole maker DSC expanding in Indonesia, India
Dahsheng Chemical (DSC), a Taiwanese maker of closed-cell and open-cell foam products founded in 1945, is expanding its global manufacturing footprint in Indonesia and India. The new locations, estimated to generate more than 1,500 jobs, will increase DSC’s global capacity by 24 million pairs of insoles per month and accelerate ...
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News briefs
Birkenstock disappoints on market debut
Birkenstock’s share price fell by 12.61 percent to $40.20 on Oct.11, its first trading day on the New York Stock Exchange, representing a market capitalization just above $7.5 billion. The sandal maker had priced its initial public offering at $46 per share, valuing the company $8.6 billion. The price was ...
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New Birkenstock plant in Pasewalk begins operations
Production at Birkenstock’s new shoe factory has started according to schedule. After 17 months of construction, the footwear manufacturer began operations at its new manufacturing facility in the Berlin-Szczecin industrial park near Pasewalk, in the Mecklenburg-Vorpommern region of Germany. The new €110-million, 36,000-square meter facility is the single largest ...
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ArticleBirkenstock valued up to $9.2bn in IPO
Birkenstock has set a value of up to $9.2 billion at the top end of the price range for its initial public offering (IPO), or more than seven times its annual sales. Birkenstock Holding Limited, which is registered in Jersey and has its headquarters in London, has filed for an ...
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ArticleReno completes partial restructuring but creditors’ claims triple
The ailing German shoe retailer Reno has completed a partial restructuring, the insolvency administrator said. “It is a positive development for a procedure that initially offered little hope of an even remotely satisfactory result,” Immo Hamer von Valtier from the InsoTreu law firm said in a statement. “By ...
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Articlea.k.a Brands in 1-for-12 reverse share split
a.k.a. Brands Holding Corp. will carry out a one-for-12 reverse stock split of its common stock, that will become effective on Sept. 29 at 5:01 PM Eastern Time, after the close of trading on the New York Stock Exchange (NYSE). On Oct. 2, 2023, the company’s common stock will begin ...
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News briefs
Novelship secures $9.5 million in Series B funding
Novelship, a Singapore-based marketplace founded in 2018, has received US$9.5 million in its Series B funding round led by East Ventures, iGlobe Partners and GSR Ventures. The company said the new funding will accelerate its efforts to strengthen its brand presence across Southeast Asia. This includes improving logistics capabilities, refining ...
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Gerry Weber creditors approve restructuring plan
Another hurdle was cleared for the troubled German fashion group Gerry Weber. The creditors of the insolvent company voted by a large majority in favor of a restructuring plan which includes a capital cut and the injection of new funds. Under the plan, Gerry Weber’s existing shareholders will be ...
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ArticleBirkenstock applies for NYSE listing
Birkenstock Holding, which is registered in Jersey and has its headquarters in London, filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC). The company plans to list ordinary shares on the New York Stock Exchange under the ticker BIRK. No details were released regarding ...
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Fagus-GreCon Greten to spin off its mould business
As of Jan.1, 2024, Fagus-GreCon Greten will spin off its Fagus division into an independent company called Fagus GmbH. “The new company’s ambition is to fulfill the growing demands in the shoe industry which require a modern and customer-oriented approach in the areas of moulds, design, shoe lasts and DIP ...
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Bata picks Blue Yonder’s merchandising and replenishment planning software
Swiss-based Bata has chosen to digitally transform its merchandising and replenishment planning with Blue Yonder’s SaaS-based Allocation & Replenishment solution. With Blue Yonder, a U.S. supply chain solutions provider, Bata will be able to improve the distribution of products according to customer need, optimize its processes, streamline operations, and deliver ...
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News briefs
Naf Naf files for receivership
The French fashion brand Naf Naf has asked to be placed into receivership as it faces arrears in rent payments that it accumulated during the Covid-19 lockdowns, a company spokesperson told the news agency AFP. The request was made with a commercial court located in Bobigny in the outskirts ...
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Footway’s creditors consent to continuation of reorganization
The creditors of the Swedish Footway Group AB, operator of specialized online stores, which has been in reorganization since July 25, have given the go-ahead for the continuation of the ongoing reorganization until Oct. 25 at the Solna District Court. Despite historic profitability and strong growth, the publicly traded company ...
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ArticleKYX re-emerges as a platform for secondhand sneakers
Rising from the ashes of the sneaker subscription platform KYX World, that disappeared at the end of 2022, KYX Sneakers has reinvented itself as a platform for the resale of secondhand sneakers. The platform is launching with over 2,000 used sneakers priced between $50 and $2,000 a pair. KYX Sneakers ...
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ArticleBata India is exploring a partnership in its local market
Bata India said that it is exploring the opportunity of a partnership in its domestic market but had no developments to announce. ”We would like to inform that the company continues to explore opportunities for strategic alliance / collaborations / tie-up for the Indian market and as and when matters ...
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News briefs
Crocs refinances $1.18bn in debt and lowers the borrowing rate
Crocs repriced $1.18 billion in debt under its Term Loan B facility through a refinancing amendment. The move has lowered the facility’s borrowing rate by 0.50 percent. “I am very pleased with the outcome of this refinancing transaction. We successfully achieved a 0.50 percent reduction in our Term Loan B ...
