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Boardriders completes acquisition of Billabong
Pic courtesy: Billabong
Boardriders, a global action sports and lifestyle company that owns and operates Quiksilver, Roxy and DC Shoes brands, has completed the acquisition of Billabong International Limited. The acquisition brings some of the most coveted brands in the industry to the Boardriders family, including Billabong, RVCA, Element, VonZipper, Xcel, Kustom and Palmers.
The combination of these two businesses will create the world’ s leading action sports company with sales to over 7,000 wholesale customers in more than 110 countries, owned e-commerce capabilities in 35 countries, and over 630 retail stores in 28 countries.
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ACCESSORIES
Nike introduces Flyprint 3D printed textile upper
Pic courtesy: Nike
Nike has introduced its first 3D printed textile upper in performance footwear, Flyprint. This method allows designers to translate athlete data into new textile geometries. It advances Nike’ s efforts in digitally enabled textile development and adds to a legacy of proprietary modification of machines to achieve previously unimaginable performance solutions.
Through performance printing, Nike is capable of moving faster with unprecedented precision— prototyping is 16-times quicker than in any previous manufacturing method, says the company.
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LABELLING
Swedish brand Asket launches new garment labelling standard
Swedish menswear brand Asket recently implemented a new garment
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labelling standard called‘ Full Traceability’ that offers customers detailed information about the garment, including manufacturing process, name of stylist, type of cotton seed and place of manufacture. It will replace the traditional‘ Made In’ labels found in most clothing items.
The company’ s first cent per cent traceable garment is the Oxford Shirt and the rest of its permanent collection will follow the labelling by the end of this year, it announced in an Instagram post.
RETAIL
Walmart, Sainsbury combine Sainsbury’ s and Asda Group
Walmart and J Sainsbury have combined Sainsbury’ s and Asda Group, Walmart’ s UK retail subsidiary. Amidst changes in the retail sector, the Combination brings together two distinctive customer propositions to create a more competitive, adaptable and resilient business— one of the UK’ s leading grocery, general merchandise and clothing retail groups.
Under the terms of the Combination, which is subject to various approvals, including from the Competition and Markets Authority, Walmart would hold 42 per cent of the share capital of the combined business.
The new business is expected to be better placed to invest in price, quality, range and more flexible ways for customers to shop.
C. Banner to buy additional 51 % stake in House of Fraser
Pic courtesy: House of Fraser
Nanjing Cenbest, the parent company of House of Fraser, the UK and Ireland’ s premium department store group, has announced that international retailer C. banner has entered into a conditional agreement to acquire a 51 per cent stake in House of Fraser Group Ltd. As part of the transaction, C. Banner will subscribe for new shares in the company.
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The transaction is expected to complete by the end of June 2018 and is subject to both bondholder and shareholder approvals. Post-transaction, existing shareholder, Nanjing Cenbest, part of the Sanpower Group, will remain a significant minority shareholder. The transaction will provide vital capital to accelerate transformation plans at House of Fraser.
The conditional agreement is, amongst other things, subject to House of Fraser restructuring its store portfolio.
Nordstrom extends sizing expansion to 30 stores
Pic courtesy: Nordstrom
Making the shopping experience inclusive for everybody, both online and in stores, Nordstrom, a leading US-based fashion retailer, has extended sizing expansion to 30 stores, with 100 brands producing extended sizes— by adding more zeros, 2’ s, 14’ s, 16’ s and 18’ s— across multiple categories, including denim, dresses, swimwear, activewear and lingerie.
New signage highlights the extended sizes in the stores.
FASHION
Fosun acquires 50.87 per cent stake in Wolford
Pic courtesy: Wolford
Fosun Industrial Holdings has acquired 50.87 per cent stake in Wolford from the previous majority shareholders, becoming its major shareholder. The Chinese financial investor systematically invests in the global fashion and consumer goods industry. The management of its growing portfolio in the fashion sector was recently handed over to Fosun Fashion Group.
Fosun Fashion Group holds stakes in the German Tom Tailor Group and the French luxury brand Lanvin, amongst other holdings.
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