US: Bakers secures US$5m Madden investment
The company, which retails footwear to young women, said it would use the net proceeds of the deal – about $4.6m – for working capital purposes.
In return, Steve Madden gains more than 1.8m shares of common stock, equivalent to a 19.99% equity interest in Bakers.
However, the company has agreed to vote its shares in the same manner as Peter Edison, Bakers CEO.
“We are pleased to expand our 20-year partnership with Steve Madden, one of our largest suppliers, to include a financial investment,” said Edison.
“This investment has no financial covenants or sourcing, management or governance conditions of any kind, and represents a strong vote of confidence in our business.”
The following is a general roundup of US apparel and shoe chains' January 2011 sales results. The list will be updated as new results become available. ...
The following is a general roundup of US apparel and shoe chains' August 2010 sales results. The list will be updated as new results become available....
Footwear and accessories business Steve Madden posted a 30% gain in fourth quarter net profit, driven by a double-digit revenue increase. ...
Shoe retailer Bakers Footwear Group has narrowed its third-quarter loss thanks to higher sales at its 236 stores....
- How apparel retailers should react to Brexit
- Big data helps Crystal Group sustainability gains
- Brexit and the apparel industry – what lies ahead?
- Britain votes for Brexit – what happens next?
- Brexit uncertainty over pending EU trade deals
- Brexit to halt deflation in UK clothing sector
- Under Armour opens manufacturing innovation hub
- Nike faces domestic and future order headwinds
- Walmart's 'Made in USA' pledge misleading
- Delta Galil buys VF Corp premium brands for $120m
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Clothing & Footwear Retailing in Denmark
- Primark Stores Limited: Retailing - Company Profile & SWOT Analysis
- Clothing & Footwear Retailing in Indonesia– Market Summary & Forecasts
- Luxury Goods Retailing in Europe, 2014-2019 ; Market & Category Expenditure and Forecasts, Trends, and Competitive Landscape