Top stories on just-style this year...
Here is a list of the top ten stories published on just-style during the past year, in chronological order. To read the stories in full, please click on the headlines.
M&S Plan A
UK: M&S to go eco friendly with GBP200m plan
In January, UK retail giant Marks & Spencer announced a GBP200m (US$393.29m) eco-initiative which it said would influence every part of its operations during the coming five years. The 100-point plan included pledges to go carbon neutral and send no waste to landfill by 2012.
FRANCE: PPR pounces on Puma for EUR5.3bn
Luxury goods retailer PPR acquired a controlling stake in Puma during April, and announced the launch of a friendly takeover offer for the German sportswear group implying a total consideration of EUR1.4bn ($2bn). Puma is the third largest sportswear network behind Nike and Adidas Group, while PPR also owns the brands of the Gucci Group, including Gucci and Yves Saint Laurent.
Payless in for Stride Rite
US: Payless to buy Stride Rite for $800m, change name
Payless ShoeSource in May reached an agreement to acquire wholesaler and retailer Stride Rite Corp for about $800m plus the assumption of debt. The deal was completed by August, with the company renaming itself Collective Brands and operating three standalone business units called Payless, Stride Rite and Collective Licensing International.
US: Finish Line to buy Genesco for $1.5bn
Two weeks after rejecting a sweetened takeover offer from Foot Locker, clothing and hat firm Genesco in June agreed to be acquired by athletic shoe and apparel retailer The Finish Line in a deal worth around $1.5bn. However, the deal has still not been completed at the time of press (21 December) following months of legal hold-ups as Finish Line and its lenders, UBS, aired concerns about Genesco's financial performance.
Liz Claiborne cuts
US: Liz Claiborne reviews 16 brands, to cut jobs
Apparel giant Liz Claiborne in July revealed plans to shed up to nearly half of its brands and cut 600 to 800 jobs in a bid to cut costs in the face of a downturn in department store sales. The company said 16 of its 36 apparel brands were under review and by September had sold its Emma James, Intuitions, JH Collectibles and Tapemeasure brands to the US unit of global sourcing group Li & Fung.
Battle for Barneys
US: Barneys takeover battle takes a twist
In August, Jones sold upmarket department store group Barneys to an affiliate of Dubai-based private equity house Istithmar for $945m in cash. The deal followed a bidding war with Japanese apparel group Fast Retailing Co, the owner of the Uniqlo casual clothing chain. After a number of twists, Fast Retailing eventually withdrew to focus on its own international growth.
US: Warnaco trims swimwear business with brand sell-off
Apparel maker and marketer The Warnaco Group Inc announced its intention to sell nearly all of its swimwear brands in September, and explore strategic options for its Lejaby business. Warnaco said it intends to sell designer swimwear brands such as Catalina, Anne Cole and Cole of California, but will keep the Calvin Klein and Speedo swimwear lines.
MAS eco opening
SRI LANKA: MAS opens eco-friendly textile zone
MAS Holdings officially launched the MAS Fabric Park (MFP) in Thulhiriya, Sri Lanka, on 19 October, having struck a deal to accommodate Marks and Spencer and DogiEFA there.
UK: Sports firms hit by England kit crisis
England kit maker Umbro and its 30% stakeholder Sports Direct issued statements on the London Stock Exchange in October, reacting to England's crushing 3-2 defeat by Croatia. The result had knocked the nation's football team England out of the Euro 2008 soccer tournament in the qualification stages, and Umbro admitted that demand for the jerseys would seriously weaken as a result.
Nike scores with Umbro
US: Nike nets Umbro in $582m deal
Finally, sporting goods giant Nike struck a deal to acquire Umbro in October with a US$582m (GBP285m) all-cash offer. The Oregon-based firm said that the acquisition will expand its global leadership in world football, known as a key category for both Nike and its rivals Adidas and Puma.
For a more in-depth roundup of just-style's news and analysis during 2007, download December's management briefing, which outlines the news editor's highlights of the past year.
Companies: Puma AG, Kering, Collective Brands Performance + Lifestyle Group, Genesco Inc, Marks & Spencer Group Plc, Kate Spade & Co, Gucci Group, Warnaco Group Inc, Barneys New York Inc, Finish Line Inc, Nike Inc, Fast Retailing Co Ltd, Adidas Group, Payless ShoeSource Inc, Collective Brands Inc, Collective Licensing International, Umbro, Foot Locker Inc, Istithmar, Uniqlo, Calvin Klein Inc, Speedo, MAS Holdings, Sports Direct International Plc
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Here is a list of the top ten stories published on just-style during the past year. To read the stories in full, please click on the headlines....
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