Blog: Timberland offer illustrates M&A uptick

Joe Ayling | 20 June 2011

Last week saw more M&A activity in the apparel sector with news thatVF Corporation is to acquire outdoor apparel giant Timberland forUS$2bn.

Timberland, which will remain headquartered in Stratham, NewHampshire, will slot into an expanding VF outdoor portfolio that alsoincludes The North Face.

VF hopes that the deal, which is still subject to conditions, willoffer a swift return on investment through e-commerce andinternational synergies, together with top-line sales from theTimberland and Smartwool brands.

It represents the largest deal in a flurry of recent buyout activityin the industry, which has also seen Oxford Apparel, Jimmy Choo andKurt Geiger snapped up in the past few months.

US: VF to acquire Timberland for $2bn

Ten facts about takeover target Timberland

Also in the news last week was value fashion chain Primark, which wasawarded an apology by the BBC over certain footage the media outlethad gathered for its Panorama documentary 'Primark: On the Rack'.

Footage of three boys testing the stitching of Primark garments inBangalore was likely to have been fake, concluded the BBC Trust'sEditorial Standards Committee (ESC)

Primark said it had been vindicated after three years and severalinvestigations into the 2008 documentary.

UK: Primark exposé footage ruled "fake"

Meanwhile, there were comings and goings at the top of US fashionfirms JC Penney, Levi Strauss and Collective Brands last week.

The president and CEO of Levi Strauss, John Anderson, is to retireeffective 1 September, while Collective Brands' longstanding bossMatthew Rubel has resigned, and JC Penney has appointed Apple retailsupremo Ron Johnson as its new CEO.

US: JC Penney names Johnson as next CEO

US: Levi Strauss CEO to retireUS: Collective Brands chief Rubel steps down


BLOG

China still dominates apparel sourcing

The latest full-year data on US apparel import trends for 2017 suggests China will remain the dominant sourcing region for some time to come....

BLOG

Retail's rapid transformation requires "platform thinking"

There’s no doubt the retail industry is undergoing rapid transformation as technology continues to reshape how retailers think about their supply chains and meeting their customers’ needs. But to posi...

BLOG

NAFTA trade talks inch forward

Negotiators are meeting this week for the sixth round of NAFTA trade talks – and as soon as this deal has been repackaged, the spotlight could turn to the US free trade agreement with Central America....

BLOG

How can apparel firms stay competitive into the future?

Continuing with the publication of our Outlook 2018 reports last week, we looked at what apparel firms should be doing now if they want to remain competitive into the future....

just-style homepage



Forgot your password?