JAPAN: Kate Spade to acquire JV partner's stake
Kate Spade New York, the lifestyle brand owned by Fifth & Pacific Companies, has exercised an option to acquire a 51% stake in jointly owned company Kate Spade Japan Co from its Japanese joint venture partner Sanei International Co.
KSJ operates the Kate Spade and Jack Spade businesses in Japan.
The acquisition is subject to a number of conditions, including the completion of financial and other due diligence and the execution of a mutually satisfactory termination agreement, Kate Spade said.
If these conditions are satisfactory, the purchase is expected to be complete in the fourth quarter of 2012. The purchase price is estimated to be between US$45m and $50m, including debt repayment and related transaction fees.
The buyout is not expected to impact the company's adjusted EBITDA for this year.
Fifth & Pacific subsidiary Kate Spade has completed the acquisition of the 51% stake in Kate Spade Japan owned by Japanese joint venture partner Sanei International. ...
US fashion firm Fifth & Pacific has today seen its third-quarter net losses narrow as sales of its Juicy Couture brand continued to struggle....
Kate Spade New York, the lifestyle brand owned by Fifth & Pacific Companies, will unveil its latest clothing brand to the Japanese market in February....
- Yuan devaluation impact mixed for garment firms
- Will Vietnam struggle with impending trade deals?
- Nicaragua apparel and shoe firms to double in size
- The new age of disruption on apparel production
- China devaluation: what’s the big deal?
- H&M scaling up living wage effort to key suppliers
- Myanmar approves first minimum wage
- US Q2 in brief: G-III, Shoe Carnival, J Crew
- EU clothing buyers should brace for higher prices
- PVH “well-positioned” in China despite headwinds
- Global Database of the Top 1000 Apparel Producers - Company Names, Financial Performance, and Contact Details
- Ethiopia – the emerging textile and clothing industry
- Myanmar's Garment Sector in 2015 - now with updated members' directory
- Global market review of lingerie - forecasts to 2020
- Global market review of denim and jeanswear – forecasts to 2020