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In the News
Genesco, Toms, Sequential, Adidas, Brooks

Adidas is bringing more sizing and new ambassadors to the launch of its women’s spring collection. The performance and streetwear collection of tights, jackets, t-shirts, tanks and bras will feature inclusive sizing, with some pieces running from 2XS to 4X, and the new $65 Ultimate Bra available in sizes from 30A to 48E (with some band sizes available in cup sizes through G). The Three Stripes is working with a suite of new faces for the launch campaign, including body positive yogi Jessamyn Stanley, champion skier Mikaela Shiffrin, yoga and meditation teacher Mae Yoshikawa, and activist and dancer Nadya Okamoto, among others. “Women today are redefining what sport means to them, from dance, skiing, aerial yoga to skateboarding, women are doing it all. Movement is sport and it is about getting out and enjoying what sport can do for your body and mind. This collection was made for them. We are inviting women to get out there and play their way,” GM of Global Training at Adidas Aimee Arana said in a statement.

Genesco has completed its $33.7 million cash acquisition of Togast LLC, a New York company that specializes in designing, sourcing and selling licensed footwear. The deal, first announced in mid-December, also includes a potential cash earnout of $34 million to Togast over the next four years if certain financial targets are met. Before the acquisition, Togast, owned by Tony LoConte, was the distributor of Levi’s footwear in the U.S. It was also the licensee for other footwear brands, including ADIO and FUBU. Upon the deal’s closing, Genesco secured a U.S. footwear license for the Dockers brand that covers men, women and children’s styles.

Cash-strapped Toms Shoes, reportedly unable to pay a $300 million loan due this year, is now owned by its creditors. The ownership transfer to Jefferies Financial, Nexus Capital and Brookfield Asset Management from Bain Capital, which acquired a 50 percent stake in Toms for $313 million five years ago, happened in late December and enabled the Blake Mycoskie-founded firm to avoid a trip to bankruptcy court. The new owners, according to Reuters, will pump $35 million into the business and improve Toms’ overall capital structure that will enable the brand to continue its “giving” charitable model at some unspecified level.

Sequential Brands Group has hired retail industry veteran David Conn as its new Chief Executive Officer. Most recently, he was CEO of ThreeSixty Brands, which acquired and relaunched the FAO Schwarz and Sharper Image brands. Conn’s prior experience includes CEO of True Religion, president of VF Corp.’s licensed brands division and EVP at Iconix Brand Group.

Brooks Running will sponsor the Dick’s Sporting Goods Pittsburgh Marathon for three more years under the 3-year partnership with P3R, organizer of the marathon and other running events around the city including the Fleet Feet Liberty Mile and EQT Pittsburgh 10 Miler races. As the official apparel and footwear provider of the races, Brooks will continue to make cobranded jackets, training gear and a themed shoe for the Pittsburgh Marathon. The next Pittsburgh edition Brooks Launch 7 will be released this spring. The 2020 Pittsburgh Marathon will be run on May 3.