Story of the Week WHP Global to pay $300M for controlling stake in Lands’ End On January 26, Lands’ End and WHP Global announced that they are forming a joint venture, with the brand management firm paying $300 million in cash to acquire a 50% controlling stake in the apparel brand. The brand, in turn, […]
Story of the Week TikTok forms U.S. joint venture, names a CEO TikTok said Thursday that it formed a joint venture that will keep the video-sharing app operating in the United States. The short-form video company said that Adam Presser will be the CEO of TikTok USDS Joint Venture, while TikTok CEO Shou Chew will […]
Story of the Week Saks Global files for bankruptcy, shakes up leadership after a year of struggles On January 14th, Saks Global filed for Chapter 11 in the U.S. Bankruptcy Court for the Southern District of Texas. The move comes after a year of financial struggles following a $2.7 billion deal to merge Saks Fifth […]
Story of the Week Report: Anta makes offer to buy stake in Puma Anta Sports Products has “offered to buy 29%” of Puma from the Pinault family, according to sources cited by Wu & Crowley of Reuters. Anta “made the offer a few weeks ago” and sources noted the company has “secured financing for the […]
Story of the Week U.S. economy grows by 4.3% in third quarter, much more than expected, delayed report shows The U.S. economy grew at a much faster-than-expected pace in the third quarter, boosted by strong consumer spending, according to a delayed report released on Dec 23. U.S. gross domestic product, a sum of all goods […]