The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
HERZOGENAURACH, Germany – Adidas shares fell 1.5 percent on Wednesday on expectations that one of the German sportswear firm's top shareholders, Groupe Bruxelles Lambert (GBL), was preparing to sell a portion of its stake, three traders said.
Belgian investment firm GBL was placing a tenth of its 7.5 percent holding, or 1.37 million shares, at €257.75 ($292.11) on the market for sale, a 1.7 percent discount to Tuesday's closing price, the traders added.
GBL and Adidas, whose shares hit record highs on Tuesday, were not immediately available for comment.
At 0801 GMT, Adidas shares were down 2 percent at €256.9 (around $291) and lagging the broader DAX index, which was down 0.3 percent.
GBL, founded by Belgium's richest man Albert Frere, who died in December at the age of 92, first invested in Adidas in 2015 with the purchase of a 3 percent stake.
GBL also holds stakes in some of Europe's biggest companies, including Pernod Ricard, LafargeHolcim and Total.
By Thyagaraju Adinarayan, Helen Reid, Philip Blenkinsop, Emma Thomasson, Josephine Mason; editor: Alexander Smith.
In 2020, like many companies, the $50 billion yoga apparel brand created a new department to improve internal diversity and inclusion, and to create a more equitable playing field for minorities. In interviews with BoF, 14 current and former employees said things only got worse.
For fashion’s private market investors, deal-making may provide less-than-ideal returns and raise questions about the long-term value creation opportunities across parts of the fashion industry, reports The State of Fashion 2024.
A blockbuster public listing should clear the way for other brands to try their luck. That, plus LVMH results and what else to watch for in the coming week.
L Catterton, the private-equity firm with close ties to LVMH and Bernard Arnault that’s preparing to take Birkenstock public, has become an investment giant in the consumer-goods space, with stakes in companies selling everything from fashion to pet food to tacos.