It’s a tale of two brands. In October 2018, the Reef brand was sold by VF Corp. to private equity firm Charlesbank Capital Partners LLC after sales stagnated. At the time of the deal, FN reported that Carlsbad, Calif.-based Reef would operate as part of The Rockport Group, which only months before had been acquired out of bankruptcy by Charlesbank. Both were […]
Luxury conglomerate Richemont has snapped up a controlling stake in Gianvito Rossi during a very busy week for footwear acquisitions. Terms of the deal were not disclosed, but Gianvito Rossi, founder, CEO and creative director of his 17-year-old eponymous label will retain a stake. “Gianvito Rossi is an exceptional maison with unique savoir-faire in the world of shoemaking,” said Philippe Fortunato, CEO of […]
UPS seems to have averted a strike that would have seen hundreds of thousands of workers walk off the job next week. America’s biggest package carrier reached a tentative labor deal with International Brotherhood of Teamsters, the pair announced Tuesday. They came to terms on collective bargaining agreement ahead of July 31, the date when the contract covering the 340,000 […]
Alison Bergen, who served as P448’s first female CEO, is stepping down from the role. According to the Italian footwear brand, Bergen will transition from CEO to executive consultant. A representative for P448 confirmed to FN that the company will not be filling the CEO role moving forward. Instead, the company plans to operate on a “three-pronged” leadership […]
Michael Kadous, the GM of North America for Adidas Outdoor, said he has exited the company. “Today is a bittersweet moment as I announce my departure from adidas and Terrex. A place that has been my professional home for the past remarkable seven years,” Kadous wrote via LinkedIn. His note continued, “I am incredibly grateful for the opportunities and […]
Adidas on Monday raised its full-year guidance, citing tailwinds from its decision to start selling Yeezy merchandise again after parting with Yeezy head Kanye West and his brand in October in light of repeated antisemitic statements. The German sportswear retailer on Monday reported preliminary results for the second quarter, noting that revenues and profits were “positively impacted” by its decision […]
Moncler has released its much-anticipated collection with footwear designer Salehe Bembury as part of its “Genius” design program. First teased in November, this capsule includes Bembury’s debut ready-to-wear collection, along with footwear and accessories. Dubbed “Moncler ēquipements,” the Italian luxury brand said this collection is inspired by its archive mountaineering pieces from the late 1950s, and includes items […]
Starting in October, France will award bonuses to encourage people to give their clothing and shoes a second chance. Announced on Wednesday, the initiative aims to promote sustainable fashion and reduce waste, cutting down on the 700,000 tons of clothes French citizens throw away each year, most of which end up in landfills. The eco-friendly project allows customers to claim 7 […]
Update: July 12, 2023 Anta confirmed late on Tuesday that it has signed a partnership deal with American basketball superstar Kyrie Irving. According to the footwear brand, the two parties will embark on a new business collaboration, aiming to create a brand-new signature product line for Irving. As a new member of the Anta family, Irving will actively serve […]
Inflation in June rose at slowing rate, and footwear retail prices saw a decrease for the first time in more than two years. Consumer prices rose 3 percent in June compared to last year, according to the latest Consumer Price Index released on Wednesday by the U.S. Bureau of Labor Statistics. This marks the smallest 12-month increase since the […]