All M&A articles
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News briefs
UK’s to 1% shopping destination command 30% of consumer spend
The top 1 percent of the UK’s shopping destinations represent 30 percent of consumer spending in brick-and-mortar stores, prompting brands to focus on the best locations, according to Mark Allan, Chief Executive Officer of the British property group Landsec. “The top 1 percent of the UK’s shopping destinations provide brands ...
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News briefs
Capri reportedly ready to sell Jimmy Choo and Versace
Capri Holdings is working with the British bank Barclays to find buyers for Jimmy Choo and Versace, according to the magazine WWD. A data room with confidential information on the businesses is being set up now for potential buyers and Barclays would like to start receiving indications of interest before ...
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Steve’s raises over €187,000 in its crowdfunding campaign
Steve’s, an Italian producer of sustainable premium sneakers, raised €187,328 in a crowdfunding campaign that closed on Oct. 24 thanks to the contribution of 51 investors. The startup was seeking to raise between €100,000 and €300,000 through the Mamacrowd platform. Founded in 2022 in Turin by Giulia Gandini and Filippo ...
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Shoe Carnival renews its share buyback program
Shoe Carnival’s board authorized a new share repurchase program of up to $50 million in common stock, effective Jan. 1. It replaces a $50 million share buyback program that was authorized on Dec. 14, 2023, and expires on Dec. 31, 2024. The board also approved the payment of a quarterly ...
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ArticleZalando to take over About You
As part of its plans to create a pan-European e-commerce platform, German online retailer Zalando is acquiring the fashion group About You for €1.1 billion. Volker Bosse, a financial analyst at Baader Helvea Equity Research, noted that from ”a market perspective, it is a bold consolidation step in the ...
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ThredUp sells its European business Remix
The US-based resale platform ThredUp has entered into a binding agreement to sell its European business, Remix, in a management buyout led by Florin Filote, the General Manager of Remix. The sale closed simultaneously with the signing of the agreement. Before the closing of the transaction, Remix received a final ...
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Bureau Veritas buys LBS Luxury Brands Services
Bureau Veritas, a French provider of testing, inspection and certification services, bought LBS Luxury Brands Services, which specializes in quality assurance and quality control in the luxury industry. Bureau Veritas noted that the acquisition is in line with its strategy of strengthening its positioning and offering in the luxury and ...
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News briefs
JD completes the acquisition of Courir
JD Sports Fashion completed the acquisition of Groupe Courir for €520 million, following receipt of conditional clearance from the European Commission on October 22. “Courir is a market leader in sneakers in France, which is the largest sneaker market in Europe, and this acquisition reinforces our position within Europe,” according ...
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Le Coq Sportif placed into receivership
A Paris-based commercial court has placed Le Coq Sportif into receivership. The Swiss group Airesis, which owns 75 percent of the French sportswear firm, indicated that Le Coq Sportif had applied to open a judicial restructuring procedure. The court confirmed the procedure. Le Coq Sportif will continue operating but has ...
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Protective Industrial Products buys Honeywell’s PPE business
Protective Industrial Products (PIP) has entered into a definitive agreement to acquire the personal protective equipment (PPE) business of Honeywell along with its brands, which include Fendall, Fibre-Metal, Howard Leight, KCL, Miller, Morning Pride, North, Oliver, Salisbury and UVEX, for $1.325 billion. “PIP is dedicated to serving as a trusted ...
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News briefs
Golden Goose and On Holding’s management reportedly met
The managements of Golden Goose and On Holding have met, which triggered speculation that the Swiss group could buy the Italian brand of premium sneakers, reported the Italian daily Il Sole 24 Ore. The daily added that sources close to Golden Goose do not deny the meeting but rejected rumors ...
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ArticleVida Shoes buys Aquatalia
New York-based Vida Shoes International has acquired Aquatalia, an Italian luxury fashion brand created in 1994, from ADJHA Aquatalia LLC. The transaction was completed on Sept. 26. No financial details were released. “With Aquatalia’s rich history of style and craftsmanship, Vida Shoes International views it as the ideal addition to ...
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ArticleTapestry, Capri scrap plans to merge
Tapestry, the US owner of the fashion brands Coach, Kate Spade and Stuart Weitzman, has reached an agreement to terminate plans to merge with Capri Holdings, which owns the brands Michael Kors, Versace and Jimmy Choo. “Capri and Tapestry mutually agreed that terminating the merger agreement at this time is ...
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Klarna plans an IPO in the US
Klarna has filed a draft registration with the Securities and Exchange Commission (SEC) for an initial public offering in the US. The terms of the transaction have yet to be defined. In a statement, the Swedish payment firm said that it has “confidentially submitted a draft Registration Statement on Form ...
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ArticleThe Swiss brand Künzli has a new owner
The Swiss shoe manufacturer Künzli has found a new owner, averting a potential shutdown that could have been triggered by an unresolved succession. The businessman Roberto Martullo will acquire the historic brand in January 2025, becoming the sole owner. He will “initially continue to directly manage the company,” according to ...
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ArticleStuart Weitzman’s sales rise driven by North America
Stuart Weitzman, the premium footwear brand of the US fashion group Tapestry, posted sales of $53.7 million in the fiscal first quarter ended Sept. 28, up by 2 percent year-on-year both on a reported basis and at constant currency rates, as growth in North America offset “softness” in Greater China. ...
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ArticleNice Footwear buys two Italian shoemakers
Nice Footwear has bought two shoemakers, Corrado Maretto and Dyva. Both companies specialize in luxury women’s footwear and are located in the footwear cluster of Riviera del Brenta in Italy’s northeastern region of Veneto. The terms of the deals were not released but the lender Banca Popolare di Sondrio partially ...
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ArticleDeichmann acquires the footwear rights of the Esprit brand
Deichmann has struck a deal to acquire the rights to Esprit’s footwear brand in Europe and the United States, marking a key step in the restructuring of the bankrupt fashion brand. The acquisition only pertains to Esprit’s shoe trademark rights – which Deichmann sees as a valuable addition to its ...
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Permira buys a 40% stake in K-Way
Permira, the private equity that owns an 83 percent stake in Golden Goose, the Italian brand of premium sneakers, has entered into an agreement to buy a 40 percent stake in K-Way from BasicNet. BasicNet will retain a 60 percent stake in the brand known for its waterproof jackets. The ...
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ArticleCapri and Tapestry’s merger blocked by a US court
A US judge has blocked an $8.5 billion planned merger between the luxury goods groups Capri Holdings and Tapestry. Capri owns the luxury footwear brand Jimmy Choo as well as the fashion labels Versace and Michael Kors. Meanwhile, Tapestry owns the premium footwear group Stuart Weitzman and the fashion brands ...
