Financial news, corporate announcements, analysts’ reports
LONDON, UK: Zotefoams, a pioneer in cellular materials technology, has announced the appointment of Ronan Cox as the Group CEO designate. The announcement follows the company’s earlier statement on 7 November 2023. Cox, who brings a wealth of international leadership experience, will join Zotefoams on 2 April 2024 and take his place on the Board…
Shoe Carnival, Inc. (Nasdaq: SCVL), a leading family footwear retailer, announced today that it has acquired Rogan Shoes, Incorporated, a 53-year-old work and family footwear company with 28 stores in Wisconsin, Minnesota, and Illinois. The deal, valued at $45 million and funded entirely with cash, is expected to boost Shoe Carnival’s earnings and sales in…
German premium footwear maker Birkenstock Holding priced its U.S. initial public offering (IPO) at $46 per share, the middle of its indicated range. The IPO raised about $1.48 billion, valuing the company at about $9.3 billion on a fully diluted basis. Birkenstock is the fourth major company to launch a U.S. IPO in the last…
Tapestry, the parent company of Coach, Kate Spade and Stuart Weitzman, announced on Thursday that it has agreed to buy Capri Holdings, the owner of Michael Kors, Versace and Jimmy Choo, in a cash deal valued at $8.5 billion (€7.7 billion). The deal will create a new powerful global luxury house with six iconic brands…
LONDON, UK: JD Sports Fashion Plc, Britain’s biggest sportswear retailer, announced on Tuesday that it will acquire the remaining 40% stake in Marketing Investment Group (MIG), a Polish retailer of sports fashion footwear, apparel and accessories. The deal will make JD the sole owner of MIG and will accelerate its expansion in Central and Eastern…
LONDON, UK: Coats Group plc, the world’s leading industrial thread and global footwear component manufacturer, has announced that it has agreed to sell its European Zips business to Aequita, a German family office, for an expected nominal cash consideration of around $1m. The deal, which is expected to close in the third quarter of 2023,…
The UK inflation rate remained high in May, as consumer prices rose by an annual 8.7%, unchanged from the previous month, according to the Office for National Statistics (ONS). On a monthly basis, headline CPI increased by 0.7%, while core inflation — which excludes volatile energy, food, alcohol and tobacco prices — gained by an…
Mayo-based multinational workwear, safety footwear, and PPE provider Portwest has announced its latest acquisition of Canadian company IFR Workwear, a renowned brand specializing in premium flame-resistant (FR) products. The acquisition aligns with Portwest’s strategy of strengthening its product portfolio, accessing new markets, and expanding its global presence. Established in 2005 by Reg Radford and Erin…
Apparel Group, a renowned global fashion and lifestyle conglomerate, has announced a significant strategic partnership with Clarks, a leading global footwear brand. The collaboration aims to accelerate the expansion of Clarks’ retail presence across the Kingdom of Saudi Arabia (KSA) by opening more than 20 stores over the next five years. The alliance between Apparel…
Onebeat, an AI-enabled retail-tech company based in Tel Aviv, Israel, has secured an additional $10 million in funding. The funding round was led by Magenta Venture Partners, with participation from AnD Ventures, INcapital Ventures, J-Ventures, Surround Ventures, and Wilson’s Bird Capital. The fresh funding will be utilized by Onebeat to fuel the expansion of its…
Summer camping provides an opportunity to connect with nature, enjoy outdoor activities, and experience a break from the routines of everyday life. During summer camping trips, individuals or groups engage in various recreational activities, including hiking, fishing, swimming, boating, wildlife observation, campfire cooking, stargazing, and more. It offers a chance to unplug from technology, relax…
SYDNEY, AUSTRALIA: Baby Bunting Group Limited (ASX: BBN), Australia’s largest specialty retailer of maternity and baby goods, today announced the appointment of Mr Mark Teperson as Managing Director & CEO, effective 2 October 2023.Mr Teperson is a highly regarded retail leader with more than 20 years’ experience across retail and fintech. He has a proven…