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A month after upping its stake in the beleaguered chain Cheap Adidas Continental 80 Womens , JD Sports Fashion PLC has announced that it will buy the remaining shares of Footasylum PLC in a cash deal worth 90.1 million pounds, or $119.25 million.The acquisition, which is expected to be completed in the next month or so, puts JD's offer at 82.5 pence per share — only half the value of Footasylum's initial public offering of 164 pence in November 2017. It also comes a month after the British sportswear giant — parent to many retail banners including The Finish Line, Scotts, Getthelabel.com and Chausport — increased its holding on the company to 18.7 percent."We are pleased to make this offer for Footasylum Cheap Adidas NMD Womens , which is very complementary to our existing businesses in the U.K.," JD's executive chairman, Peter Cowgill, said in a statement. "We believe that there will be significant operational and strategic benefits through the combination of the very experienced and knowledgeable management team at Footasylum and our own expertise."Footasylum has struggled in the past year with weaker-than-expected profits and revenues, citing "challenging times in the retail industry" and "weak consumer sentiment." News of the agreement with JD sent the company's shares up about 75 percent, following a 46.50 pence closing price on Friday. (The deal still requires shareholder approval.)"The Footasylum board has concluded that the offer represents the best strategic option for Footasylum and its employees Cheap Adidas Ultraboost kids ," added Footasylum executive chairman Barry Bown. "It believes the offer fairly reflects Footasylum's current market position and prospects on a standalone basis and, as such, that Footasylum shareholders should be given the opportunity to realize value from the offer."U.K.-based Footasylum was founded in 2005 by David Makin, one of the co-founders of JD Sports. He was joined three years later by John Wardle, JD's other co-founder, who served as CEO until 2015 and then as executive chairman.Want more?How JD Sports Can Make Finish Line's Struggling Business Compete Better Against Foot LockerJD Sports' $558M Deal to Acquire Finish Line Will Shake Up the Athletic Retail Landscape Design duo Megan Papay and Cristina Palomo-Nelson initially steered clear of making a sneaker for their label Cheap Adidas Continental 80 kids , Freda Salvador, which specializes in elevated pound-the-pavement shoes. But as sneakers continue to trend in women's fashion, the two decided to launch a collection of their own. ”As soon as sneakers started becoming popular in fashion, we thought, why don’t we make this into a category?" Papay told FN. Seen on Gigi Hadid and Kaia Gerber during fashion weeks, the brand is a go-to favorite for supermodels and stylish celebs.And Freda Salvador's new sneaker collection already has generated buzz. One shoe sold out in just a day — a first for the California-based brand that works with a small factory in Spain to craft its shoes."We knew the white EDA special Cheap Adidas NMD kids ," Papay said about the white EDA d'Orsay Sneaker, which already achieved waitlist status. Shoppers can expect the shoe to be back on the market in June and can sign up for the waitlist here.The low-top is also available in vanilla, peony and rose snake colorways for $325."It's bold, exudes confidence and style, and is ridiculously comfortable," Papay said about of low-top. Papay added that it took over a year to develop the EDA. The d'Orsay cut-out style prompted Papay and her partner to go with a vulcanized sole on the bottom cheap yeezy kids , which gives the shoe a comfortable solid base.The SAL high-top is available in vanilla snake, white calf and silver calf metallic.; they retail at $350-$375."Launching a sneaker category is a natural progression for us, as we are a pound-the-pavement brand," said Papay. "Expect more to come." The sneaker collection is available exclusively at Freda Salvador stores and fredasalvador.com.
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