Financial news, corporate announcements, analysts’ reports
Kidpik Corp. (NASDAQ: PIK), a leading online subscription-based children’s apparel company, has merged with Nina Footwear Corp., a renowned brand in women’s and children’s dress shoes and accessories. The merger, which is structured as an all-stock transaction, has been unanimously approved by the Boards of Directors of both companies. The newly formed entity will be…
SYDNEY, AUSTRALIA: Merchant House International Limited (ASX: MHI) advised that due to the changing business environment in China, the Board of its associate company Tianjin Jiahua Footwear Company Limited has decided to cease production operations with immediate effect. Forsan Limited, a subsidiary of MHI, holds a 30% interest in Jiahua. The decision by the board…
HONG KONG: Kingmaker Footwear Holdings Limited has resumed production at the group’s factory in Binh Duong Province, Vietnam. Kingmaker Footwear had earlier notified temporary production halt at the factory after the report of local COVID-19 cases. The Board advised the shareholders and potential investors of the Company that, after satisfying all reopening conditions imposed by the local…
KARACHI: Service Global Footwear Limited (SGFL) successfully raised Rs. 2.175 billion through a two-day book building which saw a broad-based participation from institutional and high net-worth investors. The book building was over-subscribed by 5.8 times with price closing at the Rs. 53.2 per share. The book building saw a total demand of Rs. 8.946 billion…
LONDON: Frasers Group has entered a strategic partnership with Accent Group to expand its Sports Direct brand across Australia and New Zealand, marking a significant milestone in its international growth ambitions. Accent Group, a leading retailer and distributor of premium lifestyle and sports footwear in Australasia with more than 900 stores and 12 distributed brands,…
LONDON: Zotefoams, a global leader in supercritical fluid foam technology, has unveiled plans to expand its manufacturing and innovation capabilities with new facilities in Vietnam and South Korea. This strategic investment aims to bolster its presence in the athletic footwear market, where the company has built a strong partnership with Nike, contributing to annual revenues…
PARIS: Dassault Systèmes announced Tuesday that its subsidiary Centric Software, a leader in Product Lifecycle Management (PLM), has signed an agreement to acquire Contentserv, a prominent provider of product information management (PIM) and product experience management (PXM) solutions, for an enterprise value of €220 million. Centric Software specializes in innovative enterprise solutions that help plan, design, develop,…
LONDON: JD Sports Fashion Plc, a leading global retailer of sports, fashion, and outdoor brands, announced a pre-close trading update on Tuesday, covering the nine weeks ending Jan. 4, 2025. Despite market headwinds, CEO Régis Schultz reported a 3.4% increase in organic revenue for the period. “Considering the current headwinds in the market, we performed…
PARIS, FRANCE: EssilorLuxottica, a global leader in the optical industry, and VF Corporation (NYSE: VFC), a global leader in branded lifestyle apparel, footwear and accessories, have entered into a definitive agreement for EssilorLuxottica to acquire the Supreme brand from VF for $1.5 billion in cash. Francesco Milleri, Chairman and Chief Executive Officer and Paul du…
Brussels, Belgium: Skechers, The Comfort Technology Company, has announced the grand opening of its first concept store located on Rue Neuve, Brussels’ premier shopping avenue. This strategic expansion complements the brand’s existing store on Antwerp’s Meir and the upcoming Bruges location, slated for a mid-May launch. Maurice van Berkel, general manager of Skechers USA Benelux…
LONDON, UK: JD Sports Fashion Plc, the leading global retailer of sports, fashion and outdoor brands, has signed an agreement to acquire Hibbett Inc., a company listed on the Nasdaq, for a price of $87.50 per share in cash, implying an equity value of $1,083 million and an enterprise value of $1,109 million. Régis Schultz,…
Shoes For Crews, LLC, a leader in slip-resistant footwear, has filed for Chapter 11 bankruptcy to conduct a sale transaction that promises business continuity and global market expansion. The filing, supported unanimously by its lenders and equity sponsor CCMP Capital Advisors, is part of a prearranged restructuring plan. The company aims to complete the sale…