October 30, 2023
As two activist investment firms circle in the waters demanding major changes at The North Face and Vans parent, CEO Bracken Darrell vowed to lead VFC forward to realize its potential, announcing a new transformation plan dubbed “Reinvent.”
Net income attributable to shareholders at the Indonesian retailer grew 15% to IDR 374,675 million ($25.2 mm) in the third quarter from IDR 326,135 million last year, on a 43% increase in revenues of IDR 3,613,943 million ($243.0 mm), up from IDR 2,531,036 million.
Net income at the Swedish helmet tech company tumbled 52% to SEK 14 million ($1.3 mm) from SEK 29 million in the third quarter, on sales that declined 32% to SEK 77 million ($7.1 mm) from SEK 113 million.
The CT-based menswear brand revealed that its founders engineered a deal that closed in July to buy back the minority stake that private equity firm L Catterton acquired in 2017, in a move to regain its autonomy.
The San Francisco-based biocreation start-up founded and led by Ece Gozen, has announced a $3.3 million funding round led by Happiness Capital, with participation from Accelr8, Astor Management, and SOSV.