Apparel & Footwear

Children’s Footwear Brand Jbrds Puts Itself Up For Sale

Baltimore-based kids’ footwear brand Jbrds is up for sale, FN has learned. Co-founder and chief executive officer Mike Gugat confirmed the news to FN but added that there is “more to the story.” “For potential acquirers in footwear, apparel, family, health, or consumer platforms, Jbrds offers a market-ready brand with a seasoned CEO (ex-Mizuno and Adidas), authentic differentiation, strong product IP, and a scalable foundation,” Gugat told FN. “We’ve done the hard work to blend pediatric insight, product innovation, modern go-to-market execution, and a well-crafted product roadmap informed by market realities.”

Longtime Mephisto USA CEO Rusty Hall Retires, Logan Bird Named Successor

After five decades in the footwear industry, Rusty Hall is retiring as president and chief executive officer of Mephisto USA, marking the end of a landmark 15-year tenure at the helm of the footwear company. Hall’s career spans every facet of the business, from retail management and ownership to leading global wholesale organizations. He entered the industry in 1975 in Mesquite, Texas, beginning as one of the youngest store managers for Thom McAn Shoes before rising through leadership roles at Milgram Kagan. He later owned and operated seven Connie Stores in Texas before transitioning to wholesale leadership roles at Easy Spirit, SoftWalk, and Phoenix Footwear.

JD Sports Bounces Back in U.S. During Key Holiday Season, But Warns on ‘Muted Market Growth’

JD Sports chief executive officer Régis Schultz offered a glimpse of how the footwear and sports apparel retailer fared during the holidays in the company’s latest trading update on January 21. The CEO said in a statement that overall sales during the peak holiday period were “in line” with expectations, even against a volatile consumer backdrop. “Black Friday saw strong customer engagement across all regions, but demand softened in the first half of December, particularly in Europe and the UK,” Schultz said. “We responded decisively in the final weeks of the period by choosing to make targeted price investments, and we saw improved sales in the immediate run-up to Christmas Day and the period after, demonstrating the strong customer appeal of JD and its complementary fascias, in a challenging market.”

Athletic & Sporting Goods

Private equity invests in pickleball’s leading manufacturer Selkirk Sport

Private equity firm Bluestone Equity Partners announced that it has made a major investment in Selkirk Sport, the Hayden, Idaho-based pickleball equipment manufacturer that has grown revenue by approximately 1,900 percent since 2019. The transaction represents Selkirk’s first external investment since brothers Rob Barnes and Mike Barnes founded the company with their father Jim in 2014. Financial terms were not disclosed.  The investment positions Bluestone to capitalize on pickleball’s explosive growth trajectory. US adult participation in the sport increased approximately sixfold from 2019 to 2024, according to the Sports & Fitness Industry Association (SFIA). Infrastructure has expanded rapidly to meet demand, with dedicated facilities up 55 percent year-over-year and total courts increasing 23 percent in 2024 alone.

Precision53 Acquires The Iron Factory’s Club Machining And Chroming Assets

Precision53 (P53), a luxury U.S.-based golf equipment maker known for producing forged irons domestically, said it has acquired substantially all assets related to club machining, refinishing, and chroming from Arizona-based The Iron Factory. The asset purchase includes heavy industrial equipment used for lathe turning, CNC machining, roll-stamping, polishing, and chroming, along with trade secrets and specialized production, process, and materials know-how. P53 said the acquisition supports its long-term strategy to bring more material processes in-house as it expands its vertically integrated manufacturing capabilities.

Drybar, Fitness Together Parent WellBiz Acquired by Transom Capital

Private equity has found its next fixation, and this time it entails self-care rituals like massages, personal training and blowouts.  Transom Capital Group, a Los Angeles-based private equity firm, has acquired WellBiz Brands, a franchisor behind Fitness Together, Elements Massage, Drybar, Amazing Lash Studio and Radiant Waxing, the companies announced.  As it stands now, Denver-based WellBiz Brands operates more than 700 locations across the United States, Canada, Europe and the Middle East.  The acquisition comes as private equity continues to circle fitness and wellness. It also follows one of the first major industry deals of the year, in which Mark Mastrov, one of the fitness industry’s most recognizable figures, returned to 24 Hour Fitness as owner and executive chair after partnering with LongRange Capital to acquire the brand he founded.

Cosmetics & Pharmacy

Clorox Announces Acquisition of Purell maker GOJO Industries

The Clorox Company announced that it has entered into a definitive agreement to acquire GOJO Industries, a leader of skin health and hygiene solutions, for $2.25 billion in cash, including anticipated tax benefits valued at approximately $330 million, for a net purchase price of $1.92 billion. Adding Purell to Clorox’s portfolio of trusted brands expands Clorox’s position in health and hygiene for consumers and institutional end users alike. Founded in 1946 by Goldie and Jerry Lippman, GOJO has grown to nearly $800 million in annual sales and has a long history of delivering mid-single-digit growth with a three-year CAGR of 5%.

L Catterton to acquire minority stake in fragrance house EX NIHILO

L Catterton is set to acquire a significant minority stake in Paris-based haute perfumery brand EX NIHILO, as Eurazeo exits its investment. Under the agreement, Eurazeo will sell its entire stake in EX NIHILO, while the brand’s founders and management are expected to reinvest alongside L Catterton. Founded in 2013, EX NIHILO has built a global presence in prestige fragrance, supported by hero launches such as Fleur Narcotique and Blue Talisman, as well as personalized services. The transaction is subject to regulatory approvals and is expected to close in Q1 2026.

Beauty brand Malin + Goetz shuts all UK stores as it collapses into administration

Beauty brand Malin + Goetz has collapsed into administration and has shut its seven UK stores. The company has stores in London, including Seven Dials, Soho, Spitalfields, Islington, Canary Wharf, Battersea Power Station, and Borough Yards. The move is set to impact more than 70 jobs. Its online orders have also been temporarily paused. A message on the Malin + Goetz website reads: “We’re temporarily unable to accept online orders. Please explore the collection—we’ll be back soon.” Shoppers can still purchase Malin + Goetz products through third-party retailers such as Liberty, John Lewis, and Space NK.

Yellow Wood Portfolio Companies Suave Brands and Elida Beauty Complete Merger

Suave Brands and Elida Beauty announced that they have completed a merger to create Evermark, a leading global platform of iconic personal care brands. Both businesses are portfolio companies of Yellow Wood Partners. The new name, Evermark, reflects the Company’s commitment to its millions of customers who use and trust these personal care brands daily. Terms of the transaction were not disclosed. The joint power of this combined platform, under the new name Evermark, will build on the existing legacies of both Suave Brands and Elida to ensure the continued growth of brands that have stood the test of time and are established in customers’ daily routines around the world.

Discounters & Department Stores

Dollar General takes on Amazon with same-day rural delivery

Dollar General is competing with one of the world’s largest retailers for the delivery business of rural U.S. consumers. The discount retailer is expanding the reach of its proprietary myDG Delivery same-day delivery service available via its app and website to more than 17,000 stores, many located in rural communities. This move follows Amazon’s more than $4 billion effort in 2025 to expand its rural U.S. delivery network to speed delivery for millions of customers living in less densely populated areas. Amazon now offers free same-day and next-day delivery in more than 1,000 smaller cities, towns, and rural communities.

Saks Global gets access to $500 million in bankruptcy funding

Saks Global has received an infusion of badly needed cash. The luxury department store company, which recently filed for bankruptcy, has been given access to the first $500 million of its $1.75 billion restructuring financing package. Saks Global said the funding will provide it with sufficient liquidity to support operations and facilitate “go-forward payments to brand partners and the acceleration of inventory flow.” The $500 million was approved by a judge in Houston on Friday, Jan 16. It came just in time as the retailer was due to run out of cash, reported WWD. In a statement, Geoffroy van Raemdonck, the former chief of Neiman Marcus who has been appointed CEO of Saks Global, said that access to this “significant capital is instrumental as we work to strengthen our financial foundation and best position Saks Global for the future.”

Emerging Consumer Companies

Retail startup Another raises a $2.5 million seed to help sell excess inventory

Retail startup Another, which aims to help retail brands sell unsold or excess products (off-channel inventory), announced a $2.5 million seed round led by Anthemis FIL and Westbound. Brands sell their excess inventory at discount retailers like Nordstrom Rack but often lose money because managing unsold inventory is difficult. Products are spread across warehouses, and teams are left guessing the value of an item and when the best time to sell it is. Another connects to a business’s existing software systems, such as those that manage customer returns, to better centralize an organization’s data and workflows.

P&G Acquires Wonderbelly Clean Antacid Startup

Procter & Gamble has snapped up Austin-based Wonderbelly, the four-year-old digestive-health startup founded by brothers Lucas and Noah Kraft. The deal hands P&G a ready-made, clean-label antacid brand built for modern retail shelves and social-media-friendly marketing. The acquisition surfaced on January 22 after local business outlets spotted the buyer. Austin Business Journal first reported that Wonderbelly was the target. Wonderbelly positions itself as a next-generation over-the-counter digestive medicine maker that strips out dyes, talc, and other additives while sticking to clinically recognized active ingredients, according to the company. Earlier profiles and Wonderbelly note that brothers Lucas and Noah Kraft launched the brand in 2022.

Food & Beverage

MANE acquires ChemoSensoryx Biosciences to expand flavour and fragrance R&D

Flavour and fragrance house MANE has acquired Belgian biotech company ChemoSensoryx Biosciences to strengthen its innovation and scientific capabilities in chemosensory perception. ChemoSensoryx specializes in the molecular mechanisms underlying how consumers perceive smell, taste, and sensory effects mediated by olfactory, gustatory, and trigeminal receptors. The acquisition gives MANE access to receptor-based screening and predictive modelling tools, which it plans to apply across areas including odor control technologies, taste modulation research, olfactory receptor-driven formulation development, and trigeminal sensory effects such as cooling and tingling.

Tapatio hot sauce acquired by private equity firm

Private equity firm Highlander Partners is acquiring Tapatio hot sauce for an undisclosed amount, the companies said in a statement. The Saavedra family, which founded the brand in 1971, will retain a minority stake in Tapatio following the transaction. With Highlander’s investment and partnership, Tapatio plans to enter new geographies and distribution channels while developing additional products. Tapatio’s products have a large following in the Western U.S.

B&G Foods buys Del Monte Foods’ broth brands for $110M

B&G Foods is buying Del Monte Foods’ broth and stock business, which includes the College Inn and Kitchen Basics brands, for approximately $110 million. B&G said it was the winner for the broth and stock business following a “competitive auction process” that was conducted in connection with Del Monte Foods’ bankruptcy. The acquisition is expected to close in the first quarter following court approval and the sale of other Del Monte assets unrelated to B&G.

Grocery & Restaurants

Iconic Coney Island hot dog hawker Nathan’s Famous is sold for $450 million

Nathan’s Famous, which opened as a 5-cent hot dog stand in Coney Island more than a century ago, has been sold to packaged meat giant Smithfield Foods in an all-cash $450 million deal, the companies announced Wednesday. Smithfield, which has held rights to produce and sell Nathan’s products in the U.S. and Canada and at Sam’s Clubs in Mexico since 2014, will acquire all of Nathan’s outstanding shares for $102 each. Like almost every food company, Nathan’s has been under significant inflationary pressure. Nathan’s costs of branded products rose 27% compared with last year in its most recent quarter, the company said in a filing with the U.S. Securities and Exchange Commission. There was a 20% increase in the average cost per pound of hot dogs, it said. Nathan Handwerker opened the first Nathan’s hot dog stand on Coney Island in 1916 with a $300 loan, according to the company. After opening a handful of other locations around New York over the years, the Handwerker family sold the Nathan’s Famous business to investors in 1987. Nathan’s has an outsized cultural presence in the U.S. both because of its history and the famous, or infamous, hot dog-eating contest held at its flagship Coney Island shop, where contestants from around the world gather every July 4 to see who can down the most hot dogs in 10 minutes.

OneRyan Global acquires Mr Gatti’s Pizza

OneRyan Global LLC has acquired a controlling interest in Mr Gatti’s Pizza, the family-owned investment firm said Wednesday. OneRyan Global is described as “the family office” of G. Brint Ryan “which supports the investment, philanthropic, and personal needs of the Ryan family.” OneRyan was already a Mr Gatti’s franchisee, and last October it bought the only company-owned location, at South Park Meadows in Austin, Texas. As of the end of 2024, there were 82 Mr Gatti’s locations in Texas and the Southeastern United States, according to Technomic.

Home & Road

How Walmart is betting on affordable chic home goods to win higher-income shoppers

Walmart is quietly trying to prove that low prices and “upscale” can coexist, The Wall Street Journal writes. The retailer is overhauling its home-goods strategy—betting that trendier furniture, décor and kitchenware (including a $1,699 De’Longhi espresso machine) can lure higher-income shoppers and shore up margins while helping it better compete with Amazon. The push comes as Amazon’s share of the U.S. furniture and home-furnishings market has climbed to 20%, more than double its level in 2019, while Walmart’s share has slipped. Grocery remains Walmart’s growth engine, but profits there are thin, prompting executives to chase higher-margin categories like home. To “democratize style,” Walmart has revamped its own brands, leaned into design-forward partnerships like Drew Barrymore’s Beautiful line, and courted more premium labels—with mixed results.

American Furniture Manufacturing sold to Memphis private equity group

For the fifth time in its history, American Furniture Manufacturing has been sold — this time to a Memphis-based private equity group. SouthWorth Capital Management, which describes itself as a family office specializing in lower middle market investments, announced it had acquired American Furniture and its subsidiaries Peak Living, Independent Furniture Supply, Delta Furniture Manufacturing and Southern Fiber for an undisclosed sum. Headquartered in Ecru, America Furniture was founded by the late Gerald Washington in 1988. A vertically integrated manufacturer, AFM builds upholstered, residential furniture, including leather offerings designed for high-volume retail environments. The company operates two distinct product tiers, Delta and Premier, allowing retailers to sell price points within their promotional packages. Through its subsidiaries, AFM controls key elements of its supply chain, from materials and foam production to hand-sewn upholstery, assembly and logistics. Together, the companies operate more than 700,000 square feet of manufacturing and assembly space and employ more than 650 people.

Jewelry & Luxury

Burberry Rebound Continues as Gen Zers in China, Asia Pacific Fuel Brand’s Growth

The August Qixi Festival, or Chinese Valentine’s Day, may have come and gone, but the love affair between Burberry and its new crop of Chinese customers lives on. Burberry’s 3 percent same-store sales uptick in the key fiscal third quarter came in large part from Gen Z customers across China and Asia-Pacific who were shopping at home and abroad. The brand said it saw double-digit growth among the Gen Z cohort in the region, while sales in Greater China overall rose 6 percent. In the Asia-Pacific region (excluding China), sales were up 5 percent, while in the Americas, they were up 2 percent. EMEIA, which covers Europe, the Middle East, India, and Africa, was flat, with local shoppers offsetting a decline in tourist spending.

LVMH’s DFS to sell Greater China retail business to CTG Duty-Free

French luxury goods conglomerate LVMH’s DFS has reached an agreement to divest its travel retail operations in Greater China to China Tourism Group Duty Free (CTG Duty-Free). Under the agreement, DFS will divest its stores and certain regional brand rights. CTG Duty-Free will assume control of the company’s travel retail locations in Hong Kong and Macau, together with the associated intangible assets. The acquisition will be executed through China Duty Free International Limited, CTG Duty-Free’s wholly owned subsidiary. The purchase will be completed in cash, and the divestment applies solely to DFS’s Greater China business.

Bottega Veneta CEO to exit brand, join Moncler

Bottega Veneta chief executive officer Bartolomeo Rongone, known as Leo, is exiting the fashion company, effective March 31. Shortly after, Moncler said Rongone was appointed CEO of Moncler, effective April 1, and that Remo Ruffini would remain as chairman. Additionally, Moncler said that Roberto Eggs was stepping down from his role as Chief Business and Global Market Officer, effective March 1, while remaining on the board of directors. “We made a forward-looking decision that I see as a natural evolution of our corporate organization, also in view of a possible generational succession in the future,” said Ruffini.

Richemont Sells Loss-making Baume & Mercier to Italian Jeweler Damiani

Luxury giant Richemont has sold its Baume & Mercier watch brand to the Italian jeweler Damiani in a private transaction, the terms of which were not disclosed. Damiani’s luxury portfolio includes the Damiani, Salvini, Bliss, and Calderoni jewelry brands, as well as Venini, the artistic glassmaker based in Murano. The Italian group also operates Rocca, the multibrand watch and jewelry distributor, and heritage watchmaker. In a brief statement, Richemont said it believes that “Baume & Mercier’s long-term potential will be best realized as part of the Damiani Group, given the maison’s strong footprint in Italy, its predominantly multibrand wholesale distribution model and its accessible positioning in the luxury watch segment.”

Office & Leisure

Western RV Country Acquires Coyote Creek Golf & RV Resort

Western RV Country officials are pleased to announce the acquisition of Coyote Creek Golf & RV Resort, one of central Alberta’s premier golf destinations and RV communities. This strategic purchase represents a significant milestone in Western RV Country’s continued commitment to elevating outdoor recreation experiences across the province, according to a release.  The Western RV Group of Companies is one of the largest RV dealer groups in Western Canada.

PlayVS acquires Vanta Esports, becomes largest scholastic gaming program in the US

PlayVS recently announced the acquisition of Vanta Esports, combining two of the largest education-focused Esports communities in the United States. The acquisition adds 3,000 K-12 schools, making PlayVS the largest school-friendly Esports organization.  Vanta Esports puts coaches first, connecting young players with vetted esports coaches for team practices and one-on-one sessions. Programs are available through season-long team practices, or flexible individual sessions. Programs focus on strategy, teamwork, and communication.  Vanta also adds their presence in new states, including Texas and Hawaii, that will continue under PlayVS, with expanded infrastructure.

Technology & Internet

Exclusive: Amazon plans thousands more corporate job cuts next week, sources say | Reuters

Amazon is planning a second round of job cuts next week as part of its broader goal of trimming some 30,000 corporate workers, according to two people familiar with the matter. The company in October cut some 14,000 white-collar jobs, about half of the 30,000 target first reported by Reuters. The total this time is expected to be roughly the same as last year and could begin as soon as Tuesday, the people said. Jobs in the company’s Amazon Web Services, retail, Prime Video and human resources, known as People Experience and Technology, units are slated to be affected, the people said, though the full scope was unclear. The Seattle online retailer tied the October round of job cuts to the rise of artificial intelligence software, saying in an internal letter that “this generation of AI is the most transformative technology we’ve seen since the Internet, and it’s enabling companies to innovate much faster than ever before.” However, CEO Andy Jassy later told analysts during the company’s third-quarter earnings call that the reduction was “not really financially driven and it’s not even really AI-driven.” Rather, he said, “it’s culture,” meaning the company has too much bureaucracy.

Netflix posts narrow earnings beat, reports 325 million global subscribers

On January 20th, Netflix said it had reached 325 million global paid subscribers, a new milestone for the streaming giant that last reported membership numbers a year ago. The company reported fourth-quarter earnings and revenue that narrowly beat Wall Street estimates. Here’s how Netflix performed for the period ended December 31st, compared with forecasts from analysts polled by LSEG: earnings per share were 56 cents vs the estimated 55 cents, while revenue was $12.05 billion vs the estimated $11.97 billion. Net income for the fourth quarter was $2.42 billion, or 56 cents per share, up from $1.87 billion, or 43 cents per share, during the same period a year earlier.

Finance & Economy

Fed’s main gauge shows inflation at 2.8% in November, edging further away from target

Inflation drifted slightly further from the Federal Reserve’s target in November, though in line with expectations, according to the central bank’s preferred gauge released January 22. The personal consumption expenditures price index, a Commerce Department measure the central bank uses as its primary forecasting tool, showed inflation at 2.8% for the month, both for headline and core, in line with the Dow Jones consensus. In addition, the department’s Bureau of Economic Analysis reported that the October rate was 2.7% on both a headline and core basis, the latter excluding volatile food and energy prices.

Trump’s Greenland ‘deal’ sparks relief

Markets and some European leaders welcomed the news that U.S. President Donald Trump was standing down from imposing further tariffs on European countries — but others were left bewildered. Trump told CNBC on January 21 that he had the “concept of a deal” with NATO Secretary-General Mark Rutte, shortly after declaring on Truth Social that he would not proceed with the levies he threatened on eight European countries from February 1. Markets on January 22 rose on the news, but questions remain about the supposed agreement on Greenland. As the president didn’t share details of the framework — or who agreed to it — one strategist told CNBC: “Nobody’s going to believe him anymore.”