2018 was a banner year for mergers and acquisitions.
In the fashion and footwear industry, marriages between Michael Kors and Versace as well as ABG and DSW’s proposal for Camuto were among the biggest corporate consolidations of the year. Here, FN rounds up the major deals that transpired over the last 12 months.
GOAT and Flight Club Form Mega Sneaker Marketplace
In February, rare-footwear outlets GOAT and Flight Club joined forces to form what they have dubbed “the world’s largest sneaker marketplace.” Together, the pair boasts 7 million-plus members with more than 400,000 individual listings.
Farfetch Buys Stadium Goods
This month, Farfetch announced its plans to acquire kicks vendor Stadium Goods for an enterprise value of $250 million.
Richemont Takes Over Yoox Net-a-Porter
Compagnie Financière Richemont in January offered 2.69 billion euros, or $3.3 billion, to buy all remaining shares in Yoox Net-a-Porter SpA. Richemont said in May that it had secured 94.99 percent of YNAP’s ordinary shares.
Watch on FN
Bankrupt Nine West Finds Savior in ABG
Nine West Holdings Inc. and Authentic Brands Group confirmed in June that the latter became the new owner of Nine West and Bandolino after a bankruptcy auction in which ABG cast the winning offer of $340 million.
Michael Kors Nabs Versace in Blockbuster Deal
In a bid to expand into a larger luxury conglomerate, Michael Kors Holdings Ltd. put up $2.12 billion to buy all outstanding shares of Gianni Versace SpA in September. It pits the company — which has been renamed Capri Holdings Ltd. — against major European players LVMH Moet Hennessey Louis Vuitton and Kering. (Kors also procured Jimmy Choo in 2017.)
ABG, DSW Partner for Camuto Buyout
DSW and Authentic Brands Group announced in October an unorthodox merger. The former, a retailer, and the latter, a brand management firm, would partner to snap up Camuto Group for $375 million.
Caleres Adds Vionic
Months after acquiring a controlling interest in Blowfish Malibu, Caleres nabbed burgeoning label Vionic for $360 million in October. The brand logged trailing 12-month sales of $180 million.
Want more?
Shoe Industry Leaders Share Their Goals & Outlook for 2019
The Top 10 Shoe Trends of 2018
The 6 Celebrity Shoe Partnerships That Made the Most Noise This Year
