The American sportswear giant announced on Thursday that it is transitioning its Nike brand business in Argentina, Brazil, Chile and Uruguay to strategic distributor partnerships with local partners Grupo Axo and SBF.
Grupo Axo, which holds the license to distribute fashion brands including Victoria’s Secret, Nike and Calvin Klein in Mexico, has entered into various agreements to acquire ecommerce retailer Privalia Mexico.
Mexican restaurant operator Alsea said on Tuesday it had reached an agreement with U.S. investment firm General Atlantic to sell its minority stake in Grupo Axo, a company that operates fashion brands.
Mexican retail brand manager Grupo Axo has revived plans for an IPO of up to 3 billion pesos (£122 million) that was put on ice in November over fears of a fallout from Donald Trump's U.S. presidential win.
The American luxury fashion and accessories company has announced the appointment of Joshua Schulman to the role of brand President and CEO, reporting to Coach Inc. CEO Victor Luis, and effective June 5.