NEWS
Bankrupt MBT seeks buyers for its assets
A Swiss court in Winterthur opened bankruptcy proceedings last May 9
for Masai Group International and Masai Marketing & Trading, the two companies that own the brand rights and run the global operations of MBT, the pioneering Swiss brand of “physiological footwear.” It immediately ordered the shutdown of its new head office in the city and the dismissal of all its 50-odd employees, including some top managers.
The company’s administrators are now looking for potential investors
that may be willing to buy MBT’s intellectual property rights, its inventories and also some of its sales subsidiaries such as the ones in Italy and Spain, which are profitable. They both have their own warehouses, and the Spanish one owns 70 MBT stores in the country. This would indicate that MBT’s other operations around the world, including its subsidiaries in Germany, the U.S. and other countries, where the company employs about 350 more people, are facing a more uncertain future.
Faced with serious liquidity problems due to declining sales and big
losses incurred in 2011, MBT had been looking intensively for a new investor in the last few months, as it had become impossible for the company to achieve a turnaround under its present financial structure. Berkshire Partners, the Boston-based equity investment firm that acquired an initial 20 percent stake in its holding company in 2007, raised its stake to 100 percent last September, but it was unwilling to put in more equity to refinance it.
Karl Müller, the Swiss inventor of the “physiological footwear” concept
and founder of MBT, made a statement last week expressing his disappointment and indicating that he may consider buying back the brand, although he and his son are developing similar products under two different brands, Kybun, Kyboot and Joya. Müller cashed out of MBT in 2006, selling most of the assets to some of his collaborators, but retained the rights to the brand for South Korea, where the company previously owned its own factory.
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Lunar lift off…… GRS Footwear, the ‘Lunar’ brand owner & UK distributor of Italy’s leading
Wolverine Worldwide to Acquire Collective Brands’ Performance + Lifestyle Group
Wolverine Worldwide Inc announces that it along with Blum Capital
Partners and Golden Gate Capital has signed a definitive agreement to acquire Collective Brands Inc. As part of the transaction, Wolverine will acquire Collective Brands’ Performance + Lifestyle Group (PLG), which consists of the Sperry Top-Sider, Saucony, Stride Rite and Keds brands. Adding these businesses to Wolverine’s existing portfolio, which is led by Merrell, Hush Puppies, Wolverine, Sebago and Caterpillar Footwear, amongst others. This acquisition creates an even more powerful steadfast of lifestyle
brands that positions the company for accelerated growth in both revenue and profits on a global scale.
4 • FOOTWEAR TODAY • JUNE/JULY 2012
trekking brand, Grisport, has seen sales rocket - even during the current difficult trading conditions. The improved ‘in-stock’ service has proved to be so popular this season that the UK distributor is making a substantial investment to expand its new warehouse complex, effectively doubling space, to meet the needs of an ever-expanding customer base. GRS have recently secured the rights to the ‘Goodyear’ brand name from the Goodyear Tyre & Rubber Company USA, giving them sole UK distribution and design rights for the brand. The result of this expansion into the men’s footwear arena, coupled with the explosive growth of the ladies Lunar collections, means that the Company is increasing space at the new complex to 45,000 sq ft. The 132-year-old family firm has seen a big increase in demand for its
products over the past year. GRS Managing Director Michael Rye says that the latest investment in the in-stock programme, coupled with new developments in warehousing will not only make it easier to fulfill the increase in orders for GRS products, it will also result in an even better service for customers. “Our existing outdoor retailers have already seen an improvement in the
level of Grisport stock this season, where we have pushed stock holding up over 25,000 pairs. Lunar stockists will be very pleased to hear that the additional new space will mean that we can vastly increase this service to all areas of our business” said Michael. The expansion has not ended there, as GRS have also expanded the
current sales team by appointing Mr. Paul Stewart to cover both Northern & Southern Ireland for all brands and are close to appointing a Spanish Distributor for Lunar.
www.footweartoday.co.uk
New appointment at Josef Seibel UK Ltd
Josef Seibel UK Ltd, agents of
the Josef Seibel and Romika brands in the UK and Ireland, appoint to a newly created role of Brand Support Manager. In order to support the
continued growth of both the Josef Seibel and Romika brands in the UK and Ireland, the group has created a new role of Brand Support Manager. Lisa Vermeulen joined the
Josef Seibel Group team on May 1st bringing with her a wealth of experience in both the retail and wholesale footwear industry having held key positions with Clarks and most recently with the Florida Group where she developed the Pikolinos and Filippa Scott brands within the UK. Martin Ingram, Managing Director for the Josef Seibel Group in the UK
Lisa Vermeulen
and Ireland, comments “Lisa’s primary role will be with the UK wholesale business, supporting retailers in generating further success with both the Josef Seibel and Romika brands. We believe she will be a great fit to the current team with her strong work ethic, knowledge and integrity and are very happy she has chosen to join us.”
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