MMG IN THE NEWS
Genesco Inc. is beefing up its footwear portfolio.
The shoe conglomerate — parent to teen mall staple Journeys and shoe firms Johnston & Murphy and Schuh — has announced the acquisition of New York-based Togast LLC, which specializes in the design, sourcing and sale of licensed footwear.
Genesco Inc. is expected to ink a new Levi’s U.S. footwear licensing agreement with Levi Strauss & Co. for men, women and children next month, once it closes on a $33.7 million acquisition of Togast LLC.
Retail is changing at a pace never seen before, and this year, we represented Wacoal Intl., a global giant in intimate apparel, in its acquisition of digitally native brand Lively, a deal that validates our overall view of digital talent and supply chain strength.
Our investment thesis for Wacoal, a prestigious Japanese public company focused on long-term growth, was that it should acquire a young growth-oriented business.
Lively has a new home.
Wacoal International Corp., parent company to women’s intimates apparel company Wacoal America, has agreed to acquire Lively, the online lingerie start-up founded by Victoria’s Secret alum Michelle Cordeiro Grant, for $85 million. MMG Advisors Inc. advised Wacoal on the deal, which also includes another $20 million to $55 million dollars in payouts based on performance achievements.
Digitally native intimates brand Lively has a new owner, Japanese firm Wacoal Holdings Corp, which inked an $85 million acquisition deal. According to Wacoal, the acquisition will be through its U.S. subsidiary Wacoal International Corp. The terms of the agreement call for the purchase of the shares of Intimates Online Inc., the operator of the Lively brand.
Time might be running out for Barneys New York, with industry sources fearing a bankruptcy could come as early as this week.
In September 2005, my wife and I were watching a telethon for victims of hurricanes Rita and Katrina. I was so moved that I decided in addition to writing a check, I’d organize a group of manufacturer friends to contribute clothes to the victims.