ABG outbids DSW for Nine West and Bandolino
With a bid that ended up at $340 million, $140 million higher than first staked, Authentic Brands Group has won the post bankruptcy rights to Nine West and Bandolino. Within their portfolio, Nine West will be managed by Marc Fisher Footwear. While the bid amount was not publicized DSW also attempted to purchase the brands.
Synclaire Brands picks up Chooze
Founded by entrepreneur Sharon Blumberg, Chooze, known for it’s mismatched prints and idiosyncratic kids shoes. For an undisclosed amount Synclaire purchased them last week. The amount was not publicized and Synclaire has heavily indicated it’s intentions to retain a hands off style of managing the brand.
Puma nabs Marvin Bagley III
Puma, aiming to become a player again in basketball has signed Duke’s Marvin Bagley III to a 5 year deal. Puma is also to be rumored in aggressively pursuing other members of the 2018 NBA Draft class.
Amazon’s Automation reaches white-collar workers
In a move that may send shudders in retail corporate offices everywhere Amazon has restructured it’s buying organization. The third-party marketplace team, which is over half of its volume is being merged with it’s owned inventory team. The process of setting the price and ordering to anticipate demand will now by run by the algorithms.
Trade War worries return between US and China
President Donald J. Trump has announced a 25% tariff on $50 billion of Chinese goods. Coming after failed summits between the negotiating teams of both countries, this could set in motion slowed economic growth for the world’s two largest economies. For now footwear still remains spared. Macroeconomic effects that come from reduced Chinese imports of American goods and consumers dollars going not as far due to higher prices stand as the major risks if the trade war proceeds and drags on.