SBD/12/Sponsorships Advertising Marketing

NEW BALANCE SIGNS AGREEMENT TO SETTLE SHOE PRICING DISPUTE

     New Balance Athletic Shoes Inc. said yesterday it has signed
a consent agreement with the FTC to stop entering deals with
retailers that might be seen as price fixing, according to the
BOSTON GLOBE.  New Balance said the agreement did not represent
any admission of wrongdoing on the shoe company's part.  New
Balance was "swept up" in an FTC investigation of the shoe
industry that began five years ago and resulted in Reebok Int'l
and Stride Rite also signing consent decrees, according to New
Balance Attorney Paul Gauron.  In the Reebok case, Reebok paid
$9.5M last year to settle federal and state antitrust allegations
that the company had threatened to cut off retailers that sold
shoes priced below company-mandated levels.  Gauron said a
monetary settlement was not part of New Balance's deal with the
FTC, and he was unaware of any antitrust investigations against
New Balance (Chris Reidy, BOSTON GLOBE, 6/12).
     FUND-RAISING: German shoe group Puma has said it raised
$45.2M in fresh capital by selling 1.39 million shares of stock
in a public offering (FINANCIAL TIMES, 6/12).
Return to top

Related Topics:

Puma, Reebok

Video Powered By - Castfire CMS Powered By - Sitecore

Report a Bug