Catch all the newest information about footwear business acquisitions, and licensing and distribution agreements right here. Bought a deal within the works? Inform us at email@example.com.
Feb. 5, 2022: Rolling Stone, a subsidiary of Penske Media, has snapped up a majority curiosity in Life is Lovely, the annual music, arts and concepts competition in Las Vegas. The occasion was based in 2013 by the late Zappos luminary Tony Hsieh as a part of his technique to reinvent downtown Las Vegas. In 2021, the competition was anchored by Billie Eilish, Inexperienced Day, and Tame Impala and drew over 170,000 individuals. “Reside occasions are an integral a part of Rolling Stone’s future, and Life is Lovely is an unimaginable platform to understand this imaginative and prescient. Coupled with our vital digital scale and deep journalism, there are infinite potentialities to develop Life is Lovely in distinctive and impactful methods,” stated Rolling Stone CEO Gus Wenner. Since its founding, the competition has introduced in over $350 million to the town. “Tony understood that his means to alter individuals’s lives was magnified exponentially by his means to convey good, motivated, people-focused entrepreneurs collectively,” stated Richard Hsieh, Tony’s father. “The Life Is Lovely competition is without doubt one of the best manifestations of Tony’s need to convey individuals collectively.”
Feb. 4, 2022: Foot Options has acquired Florida-based retailer Blissful Ft Plus. The acquisition brings collectively two main retail forces in specialty footwear and the ~3.5 billion world orthotic insoles market. Particulars of the transaction weren’t introduced. As a part of the combination plan, Foot Options has promoted Taylor Berry to VP of operations and Bryan Scott to SVP of strategic progress. Amongst different duties, Scott will probably be liable for the newly fashioned Innovation Group—a crew tasked to distinguish the corporate by way of know-how integration, coaching, and product R&D. Becoming a member of the Innovation Group will probably be representatives from each firms, together with Bryan Dickler, Foot Options’ head of medical and coaching, in addition to Blissful Ft’s Alan Boiko who has agreed to steer the corporate’s product innovation efforts.
Feb. 3, 2022: Constructing on its current dedication to the ladies in sport, Nike has made an fairness funding within the WNBA. By way of the brand new funding, Nike will companion with the WNBA to give attention to storytelling for athletes and additional the involvement for ladies in grassroots alternatives. The funding builds upon Nike’s current commitments to the league, together with a group of recent uniforms final yr.
Jan. 31, 2022: LA Style Week (LAFW) is beneath new possession and can return April 1. Now owned by occasion firm N4XT Experiences, the native style week is aiming to raise its reveals and expertise as Los Angeles cements itself on the planet of style, in response to a press release on asserting the acquisition. Phrases of the deal weren’t disclosed. N4XT Experiences is a reside occasions platform launched in 2022 by model guru Ciarra Pardo, former chief inventive officer of Fenty; Imad Izemrane, president and co-founder of Spring Place; leisure business veteran Marcus Ticotin; monetary business veteran Keith Abell; and Jackie Trebilcock, who has spent near a decade constructing The NY Style Tech lab. LAFW’s fall/winter 2022 season kicks off in April on the Petersen Automotive Museum and at Spring Place Beverly Hills.
Jan. 13, 2022: Tecovas has secured $56 million in Sequence C funding, bringing the model’s whole lifetime fairness funding to roughly $120 million. The Sequence C was led by Elephant, which additionally led Austin-based western footwear, attire, and equipment model’s Sequence A and Sequence B, and joined by new and current traders, together with Entry Capital, Seamless Capital, and Kemmons Wilson Corporations. “Our purpose at Tecovas is to construct probably the most welcoming model in western,” stated Paul Hedrick, founder and CEO of Tecovas. “This newest funding will permit us to scale our imaginative and prescient and welcome much more prospects to the model. We’ve seen fast progress since Tecovas’ launch in 2015, and we plan to make use of the proceeds from this spherical of funding to proceed on that trajectory, investing considerably in hiring, increasing our retail footprint, shopping for extra stock, and launching many new merchandise.”
Large Offers in Dec. 2021
Dec. 30, 2021: American Eagle Outfitters (AEO) has accomplished the acquisition of Quiet Logistics and strategic investments for roughly $360 million in money. Quiet Logistics, which operates a community of in-market achievement facilities in Boston, Chicago, Los Angeles, Dallas, St. Louis and Jacksonville, will probably be a wholly-owned AEO subsidiary and can proceed to run its enterprise independently. The community will help AEO’s continued progress, whereas additionally driving economies of scale because it expands its buyer base to different manufacturers and retailers looking for superior logistics capabilities. The acquisition solidifies operational efficiencies for AEO and creates a provide chain platform with vital long-term progress potential. “I’m thrilled to formally welcome Quiet Logistics into the AEO Inc. portfolio, cementing a collaborative partnership that has meaningfully contributed to our monetary outcomes over the previous 18 months,” stated Jay Schottenstein, AEO’s government chairman and CEO, in a press release. “AEO’s distinctive means to cut back supply prices amid rising inflation is a direct reflection of the efficiencies offered by their progressive achievement mannequin. Quiet Logistics has a extremely skilled provide chain management crew and I stay up for their partnership as we proceed to drive operational excellence and develop the platform right into a significant enterprise.”
Dec. 14, 2021: Genesco Inc., which owns Journeys, Journeys Kidz, Little Burgundy and Johnston & Murphy has signed a brand new licensing settlement with working model Etonic. Underneath the three yr settlement, Genesco would be the model’s unique U.S. and Canadian footwear licensee. The settlement additionally contains two three-year choices for renewal. “Together with our present roster of home and worldwide licensees, we proceed our work to construct the Etonic model and return it to its rightful place among the many greatest athletic firms on the planet,” stated Bruce Weisfeld, companion at Etonic Holdings LLC. We’re assured that Genesco will honor the Etonic custom of ‘firsts’ by bringing new product to market by way of its in depth retail and wholesale platforms.”
Dec. 14, 2021: Prince, a number one tennis and life-style model has inked a partnership with Pajar Canada to design, manufacture, and distribute footwear and outerwear for the model. Prince is owned by Genuine Manufacturers Group, the model advertising agency that additionally owns Perpetually 21, JCPenney and Reebok. By way of the partnership with Pajar Canada, Prince will develop into the footwear class with a brand new assortment of sneakers meant to be worn off the courtroom. “Pajar Canada is a extremely trusted footwear operator, which brings generations of experience to this necessary class for the Prince model,” stated Taryn Washenik, Senior Vice President, Style, Classics and Out of doors at ABG. “This new partnership will assist to additional construct out Prince’s life-style choices and presents a chance to seize the eye of a brand new set of style tastemakers.”