News briefs - Corporate and M&A – Page 77
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News briefs
Billabong International has decided to write off 11.7 million Australian...
Billabong International has decided to write off 11.7 million Australian dollars (€7.9m-$9.3m) from its accounts for the financial year ended this past June 30 in connection with the termination of its agreement with an omni-channel solution provider. In announcing its results for the first six months, the company had already ...
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News briefs
Zalando continues its shopping spree with the takeover of yet...
Zalando continues its shopping spree with the takeover of yet another start-up, Anatwine. The European e-commerce giant first acquired a 20 percent stake in this British software firm in May, but announced in July that it was taking over the company entirely. The purchase price has not been made public. ...
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News briefs
Vans has moved its headquarters from Cypress, California to a...
Vans has moved its headquarters from Cypress, California to a new building in Costa Mesa, California, 13 miles away. The move was first announced in June 2015. The new building is environmentally-friendly and larger than the previous headquarters. The facility features a solar panel array on the carport, which is ...
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News briefs
Kasper Rorsted, chief executive of the Adidas Group, told Focus...
Kasper Rorsted, chief executive of the Adidas Group, told Focus magazine that the Reebok brand has to return to profitability within four years. Shortly after Rorsted took over the helm in October last year, the company launched a reorganization at Reebok, Muscle Up, which entailed about 150 job cuts, the ...
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News briefs
Backed by Italian and British investors, Alessandro Bastagli has taken...
Backed by Italian and British investors, Alessandro Bastagli has taken over Shanghai Tang, the first Chinese luxury apparel firm to have obtained some international relevance. Among other holdings, Bastagli is the Italian entrepreneur who controls A. Moda, the Italian licensee of Everlast, and Dimensione Danza, the Italian brand of fitness ...
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News briefs
The families of John Wardle and David Makin, founders of...
The families of John Wardle and David Makin, founders of JD Sports, are reported by The Sunday Times to be offering the sale of a 40 percent stake in Footasylum for £40 million (€44.8m-$51.4m). The chain operates 58 physical stores in the U.K., plus a web shop. Footasylum reported a ...
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News briefs
Blackstone has reached an agreement to hand over control of...
Blackstone has reached an agreement to hand over control of Jack Wolfskin to a group of lenders in a debt for equity swap. Such an agreement around the German outdoor brand was already reported several weeks ago but it was apparently finalized last week. Under the terms of the deal, ...
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News briefs
As previously reported, Marco Boglione, chairman of BasicNet, was going...
As previously reported, Marco Boglione, chairman of BasicNet, was going to raise from 90 to 99.98 percent his stake in Basic World, owner of 36.65 percent of BasicNet's shares (SGI Europe, vol. 20, N° 15+16), with the departure of his two brothers Enrico and Francesco, who each own 4.7 percent ...
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News briefs
J&F Investimentos has terminated the negotiations over the sale of...
J&F Investimentos has terminated the negotiations over the sale of a controlling stake of 86 percent in Alpargatas, the parent company of Havaianas and the licensee of Mizuno for Brazil and Argentina, apparently because it could not agree on the price of the transaction. The company was in exclusive talks ...
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News briefs
Nike has reportedly opened a new head office in New...
Nike has reportedly opened a new head office in New York City, as part of its move to focus on a dozen key cities. Covering six floors, the new office is situated on Sixth Avenue in lower Midtown Manhattan, making it a central location for the brand's stores in the ...
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News briefs
Cocona has reportedly raised a total of $5 million in...
Cocona has reportedly raised a total of $5 million in new investments from Asia. The company, based in Boulder, Colorado, has raised nearly $3.75 million so far, but its chief executive, Jeff Bowman, told Sportstextiles the total will reach $5 million once $1.25 million from a Chinese investor is added. ...
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News briefs
Canada Goose has opened its fifth factory, the first one...
Canada Goose has opened its fifth factory, the first one in Quebec, as part of its commitment to Canadian manufacturing. The 95,000-square-foot facility, which is located in Boisbriand, has already created more than 125 jobs and is expected to create 325 more by the end of 2018. The company has ...
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News briefs
Exercising an option, BasicNet has agreed to acquire the Briko...
Exercising an option, BasicNet has agreed to acquire the Briko brand of sports eyewear and apparel, which it has been licensing and distributing since March 2016. Depending on its performance, it will pay up to €4 million for the brand, starting with a lump sum of €1 million, to the ...
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News briefs
Iconix Brands Group told an investors' conference organized by Baird...
Iconix Brands Group told an investors' conference organized by Baird that it is shifting its strategy from external to internal growth, particularly in its Active segment, whose sales rose by 16 percent in 2016. It sees growth opportunities in the U.S. for Umbro, which generated retail sales of $750 million ...
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News briefs
Adidas is boosting its infrastructure in Paris and regrouping its...
Adidas is boosting its infrastructure in Paris and regrouping its local teams under Guillaume de Monplanet, general manager of Adidas France, by opening of a new office near the trendy Pigalle area. Adidas and Reebok employees, who were previously working at different offices inside and outside the French capital, will ...
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News briefs
Nike Iberia is preparing to move its Barcelona office from...
Nike Iberia is preparing to move its Barcelona office from the business center of Mas Blau in El Prat de Llobregat to an emblematic building in the center of Barcelona. The company reportedly wanted to move closer to consumers in the urban area, and to use its office to reinforce ...
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News briefs
With the sharp rise in e-commerce and customers demanding short...
With the sharp rise in e-commerce and customers demanding short and flexible delivery times, Intersport Sweden has chosen to move its logistics from two locations to a new central warehouse, occupying 24,400 square meters and managed by Catena Fastigheter. It will also switch from its current 3PL solution to a ...
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News briefs
Under Armour has completed the renovation of two parks in...
Under Armour has completed the renovation of two parks in Portland, where it plans to open a big new dedicated office for the development of its footwear collections, attracting valuable talent from the local sports footwear cluster. One of the two parks, Duniway Park, will be adjacent to its own ...
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News briefs
Vulpine, a British brand of urban cycling apparel, went into...
Vulpine, a British brand of urban cycling apparel, went into bankruptcy proceedings when it ran out of cash last month, but then it announced about three weeks later that it has been saved by Mango Bikes. The new investor is a bicycle maker from Gloucestershire. The apparel brand was established ...
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News briefs
Musto has appointed Walker Logistics to fulfil orders for its...
Musto has appointed Walker Logistics to fulfil orders for its range of shoes and luggage as part of a broader review of the company's supply chain. Musto had previously directly managed its entire logistics process from two warehouse facilities in Essex. Orders for clients across the U.K. and other countries ...
