×
156
Fashion Jobs
LIFESTYLE BRANDS
Area Manager-Projects Execution (Telangana &Amp; Andra Pradesh)-Hyderabad
Permanent · BENGALURU
LIFESTYLE BRANDS
Brand Financial Manager - Bangalore
Permanent · BENGALURU
LIFESTYLE BRANDS
Brand Training Manager, Planet Fashion - Bangalore
Permanent · BENGALURU
DA MILANO LEATHERS PRIVATE LIMITED
Assistant Manager- Payroll
Permanent · DELHI
UNIVERSAL MANAGEMENT CONSULTANTS
Head of Human Resource
Permanent · BENGALURU
UNIVERSAL MANAGEMENT CONSULTANTS
Head of Human Resource
Permanent · DELHI
KOELLE DESIGNS PRIVATE LIMITED
Assistant Manager Purchase
Permanent · JAIPUR
CAREERMARK 6
HR Manager
Permanent · HIRIYUR
LINEN DESIGN COMPANY PVT.LTD
Senior Corporate Sales Manager
Permanent · GURUGRAM
UNITED HR SOLUTIONS PVT LTD
Business Development
Permanent · AHMEDABAD
AND DESIGNS INDIA LTD.
Buyer & Planner
Permanent · NAVI MUMBAI
GREENFIELD RESOURCES PVT. LTD.
Business Development Executive
Permanent · AHMEDABAD
GENIUS CONSULTANTS LIMITED
Head of Department - Cost Accountant
Permanent · KOLKATA
LIFESTYLE BRANDS
Brand Training Manager, Peter England - Bangalore
Permanent · BENGALURU
PLACEMENT PANDITS CONSULTING
Operations Manager-Garment Industry
Permanent · GURUGRAM
LIFESTYLE BRANDS
Area Sales Manager-Patna
Permanent · BENGALURU
LIFESTYLE BRANDS
Group Manager - E-Commerce Product (B2B)
Permanent · BENGALURU
LIFESTYLE BRANDS
Manager - Product, Louis Philippe
Permanent · BENGALURU
PANTALOONS HO
Senior Executive - Marketing
Permanent · PUNE
LIFESTYLE BRANDS
Manager - Trade Channel, Finance
Permanent · BENGALURU
LIFESTYLE BRANDS
Assistant Manager- Design, Casuals- pe
Permanent · BENGALURU
LIFESTYLE BRANDS
Executive -Key Accounts (Mis),lp
Permanent · BENGALURU

Shoemaker Rockport explores options including sale

By
Reuters
Published
today Dec 14, 2017
Reading time
access_time 2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

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 2020 All rights reserved.