Adidas has drawn up a shortlist of bidders for its Reebok brand as it seeks to draw a line under an ill-fated investment that never lived up to the German sporting goods company's expectations, sources said.
The Spanish fashion group, owner of Cortefiel and Springfield, posted losses for €109.5 million in the last financial year, and said its results will be on par with 2019 “at the latest” by the first half of 2022.
The Japanese cosmetics group has put a partial end to its beauty licence agreement with Dolce & Gabbana, a decision taken as Shiseido, struggling as a result of the Covid-19 crisis, intends to focus on skincare.
It looks like the long rumoured private equity takeover of family-owned Birkenstock could actually be happening soon. L Catterton, the group with close links to LVMH, is said to be “nearing an agreement” to buy it.
The Japanese cosmetics giant announced an 18.6% decrease in its full-year sales on Tuesday, falling into loss as the Covid-19 pandemic took its toll on the company’s operations, especially on its home market.
The iconic German footwear manufacturer has reportedly received interest from investment fund CVC, which is currently in negotiations to acquire the family-run company valued at around 4 billion euros.