June 21, 2023
The bottom line decreased 47% at the high-end Japanese golf brand for the fiscal year ended Mar. 31, tallying ¥3,255.6 million ($24.8 mm) compared to ¥6,191.2 million, as sales posted a 2% gain to ¥29,495.0 million ($224.5 mm) from ¥28,971.1 million.
Affiliates of Authentic Brands Group, ABG-Regatta LLC and ABG Intermediate Holdings, have emerged as the ‘stalking horse’ bidder for The Rockport Co., agreeing to pay $40.4 million for the bankrupt firm’s intellectual property, $5 million for its Korean subsidiary and additional, yet-to-be-determined amounts for inventory.
Pentland Brands tapped Graham Burridge as its chief finance officer, where he’ll be responsible for the company’s global finances, shaping strategy and driving business performance.
The new pinnacle category for the skate brand will be a platform for its most elevated collaborations, with limited distribution to select wholesale accounts and a dedicated DTC e-commerce experience.
SKX filed suit in CA district court against Steve Madden for infringing on its famous “S” logo with the Madden “Kennie” sneakers.