Two heirs to one of Germany’s best-known footwear brands emerged as billionaires after agreeing to sell a majority stake in closely held Birkenstock to a private equity group backed by the world’s third-richest person. Brothers Alex and Christian Birkenstock are worth an estimated $1.7 billion each based on the $4.87 billion value implied by the sale of up to 70% of the business to L Catterton,…
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Tesla’s meteoric tear is unraveling this month as experts start to worry that the stock’s performance could start to mimic bitcoin’s extreme volatility after the firm disclosed a $1.5 billion investment in the world’s largest cryptocurrency earlier this month. KEY FACTS - Shares of Tesla at one point plunged more than 10% Tuesday morning, pushing their losses since February…
German sportswear company Adidas plans to sell its underperforming Reebok brand—some 15 years after Adidas acquired the Boston-based brand to help it compete in the American market—as part of a strategic shift focused on strengthening its own position in the global sporting goods market. KEY FACTS - Adidas said it decided to begin the formal divestiture process for the U.S. brand…
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Article first published in Forbes Monaco June/July 2020 issue. What should have been a record-breaking month for SBM turned out to be the biggest loss in turnover in the company’s 157-year history due to the Covid lockdown. Now the Group…
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Shares in beleaguered airplane maker Boeing Co. and Texas-based Southwest Airlines soared Monday as investors responded to multiple media reports that Boeing has received the green light from the Federal Aviation Administration to begin test…
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