The company has registered an increase in revenues through own-operated stores after opening 124 shops in the last few months, which translated into an 18% turnover upsurge.

Edward S. Lampert, the company’s chairman and owner of hedge fund ESL Investments, is holding discussions with one of Sear’s existing creditors, Cyrus Capital Partners, to share the burden of funding portions of the 300 million dollars bankruptcy loan the retailer is seeking.

The US-based group, fourth biggest footwear company by revenues worldwide, has taken over the brand in a deal valued at 360 million dollars (312 million euros).

The German ecommerce group will open up new technical support and customer service facilities within the Luxa building, in Barcelona’s 22@ district. The premises will become the company’s fourth operational center, including its global headquarters in Munich.

Giovanni Morelli has joined the design team of the Italian luxury group, owned by Mayhoola for Investments. Valentino ended fiscal 2017 with a turnover of 1.16 billion euros, a 5% increase over the previous year. 

Founded in 2010, Lamoda belongs to Global Fashion Group, the business division where Rocket Internet puts together its ecommerce platforms for emerging markets. The company operates in the Commonwealth of Independent States (CIS).

The executive board of the German group, owner of the Nivea and Eucerin brands, will be leaded by Stefan De Loecker, who will also assume the CEO role becoming effective in January 2019.

The Dutch fashion company has announced the exit of Bart Brenninkmeijer, Frank Beeck, Andreas Seitz and Manfred Mandel. Only Brenninkmeijer, a member of the founding family, will remain attached to the group, keeping a seat in the board of directors.

Sears Holding Corp., parent company of the US-based department store group, filed a voluntary Chapter 11 petition, including assets worth 6.94 billion dollars (6.02 billion euros) and total liabilities of 11.34 billion dollars (9.8 billion euros).

The Japanese group, owner of Uniqlo, ended its last fiscal year (closed on August 31) with a turnover of 2.13 trillion yen (16.4 billion euros) and a net profit of 154.8 billion yen (1.2 billion euros).

The American department store chain, which recently appointed a new board member with former experience in restructuring, has hired M-III Partners as it could be closer to a bankruptcy filing, according to The Wall Street Journal.