Hoodrich is a lifestyle streetwear brand. Credit: Edward Berthelot/Getty Images.
Iconix acquires majority share in British streetwear brand Hoodrich
Brand management company Iconix International Inc. has announced its majority stake acquisition of streetwear brand, Hoodrich to accelerate its global growth. The strategic move is in collaboration with Hoodrich founder Jay Williams, who will retain an ownership interest in the brand. Both entities are keen to propel the brand to new heights.
PVH offloads three brands to Basic Resources in $160m deal
Fashion conglomerate PVH Corp is selling its Warners, Olga, and True & Co. brands for $160m to Basic Resources, a private family-owned apparel manufacturer and distributor. PVH says the sale to Basic Resources will help with its long-term PVH+ Plan of focusing on its flagship brands, Calvin Klein and Tommy Hilfiger. The transaction is being completed entirely in cash and is valued at $160m.
Next to acquire FatFace in £115.2m deal
UK retailer Next Plc has announced it has signed terms to acquire FatFace for a total equity value of £115.2m ($140.03m). Next is purchasing FatFace with the consideration being settled partly in cash and partly by the issue of new Next shares and management equity rolling over into the new structure. Upon completion of the deal Next will hold 97% of the equity and FatFace’s management will hold 3% of the business.
Frasers Group buys German retail brand SportScheck
Sports Direct and Flannels owner Frasers Group is acquiring German retailer SportScheck, which it says is “one of the leading sports retailers in Germany”. The company also claims the purchase is part of a wider plan to grow its presence in the country. SportScheck has 34 stores across Germany, a loyal customer base of over 13 million visitors per year and revenue of approximately €350m ($369m).