×
133
Fashion Jobs
NIKE
Lead Product Management – ed&a, Icc, India
Permanent · Bengaluru
NIKE
India Sports Marketing Manager
Permanent · Bengaluru
NIKE
Senior Dynamic Application Security Tester – Cis, Icc, India
Permanent · Bengaluru
PUMA
Senior Manager - Golf Sales (Cpg-Cobra Puma Golf)
Permanent · Bengaluru
PUMA
Manager - Accounts Payable
Permanent · Bengaluru
PUMA
Senior Manager – Teamsport Sales
Permanent · Bengaluru
NIKE
Lead Technical Product Manager – p&m, Icc, India
Permanent · Bengaluru
PUMA
Manager – Customer Reconciliation And Accounts
Permanent · Bengaluru
PUMA
Manager – Warehouse Operations (Ecommerce)
Permanent · Gurugram
NIKE
Lead Product Manager, India – ed&a Icc
Permanent · Bengaluru
PVH
Manager, Business Solutions
Permanent · Bengaluru
NIKE
Senior Product Manager - Enterprise Service Management (Esm), India – Tech Ops Icc
Permanent · Bengaluru
NIKE
Identity And Access Management (Iam) Security Operations Engineer, India – Cis Icc
Permanent · Bengaluru
NIKE
Expert Security Incident Coordinator, India – Cis Icc
Permanent · Bengaluru
NIKE
Senior Security Engineer, India – Cis Icc
Permanent · Bengaluru
BROADCAST THE COMPANY
Digital Marketing Internship
Internship · MUMBAI
NIKE
Senior Software Engineer Iii – Retail Commerce Pos, India - Consumer & Marketplace Icc
Permanent · Bengaluru
NIKE
Senior Software Engineer ii – Retail Commerce Pos, India - Consumer & Marketplace Icc
Permanent · Bengaluru
SHAYA BY CARATLANE
Merchandiser & Planner
Internship · MUMBAI
NIKE
Senior Software Engineer Iii, India – Marketing Technology Icc
Permanent · Bengaluru
SS HOMME - SARAH & SANDEEP
Marketing And PR Intern
Internship · MUMBAI
TARAMA
Graphic Designer
Internship · MUMBAI
By
Reuters
Published
Dec 14, 2017
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Shoemaker Rockport explores options including sale

By
Reuters
Published
Dec 14, 2017

The Rockport Group is exploring its options, including a possible sale, after one of the U.S. footwear maker’s major debtholders took ownership of the company, people familiar with the matter said Wednesday.




Rockport’s plans to review its options, which the three sources said could also include an equity or debt infusion, come as many brick-and-mortar retailers struggle to cope with the popularity of online shopping and changing consumer tastes.

Investment bank Houlihan Lokey Inc is advising Rockport on its review, according to the sources. Alternative asset manager Crescent Capital Group LP, a major creditor of Rockport, took ownership of the footwear seller in recent weeks from private equity firm Berkshire Partners LLC and injected new capital into the company with other co-investors, the sources said.

Crescent made the equity investment in part to protect the money it has loaned Rockport, the people said, and ensure that it is repaid. The asset manager also sees additional value in the men and women’s footwear line, started in 1971 in Massachusetts, and distributed around the world, the sources added, asking not to be identified because the deliberations are confidential.

Rockport did not immediately return a request for comment. Crescent, Berkshire Partners and Houlihan Lokey declined to comment.

Rockport’s shoes are found in department stores such as Macy’s Inc, specialty shoe retailers and in Rockport stores and its website.

Rockport, which also has the footwear brands Cobb Hill, Aravon and Dunham, has at least $60 million in debt, in the form of a revolving line of credit, according to Thomson Reuters data.

Berkshire Partners led the acquisition of Rockport from Adidas Group in 2015.

Several private equity firms invested in footwear companies in recent years, with Apax Partners LP acquiring Cole Haan, Sycamore Partners LLC buying Nine West, part of the Jones Group Inc, and Golden Gate Capital and Blum Capital snapping up Payless ShoeSource.

Some of these investments fared poorly. Payless filed and emerged from bankruptcy this year, while Nine West is exploring options for its balance sheet with an investment bank.
 

© Thomson Reuters 2021 All rights reserved.