Wellness Brand MBT Files Bankruptcy in Switzerland
MBT shoes, the Swiss brand
that put wellness on the footwear map, is in jeopardy.
Parent company Masai
Marketing & Trading AG declared bankruptcy on May 9 in Switzerland,
according to a statement on the company’s website. Joe Casagrande, president of
Portsmouth, N.H.-based MBT USA, declined to comment.
The company statement
noted competition over the past year led to the erosion of the brand and a
significant loss of market share. [url=http://www.wwd.com/footwear-news/business/wellness-brand-mbt-files-bankruptcy-in-switzerland-5903913][/url]
A turnaround in MBT’s financial situation was not deemed possible.
In a
Footwear News interview in October 2010, Klaus Heidegger, a majority shareholder
of MBT USA, said the company didn’t view the onslaught of toning brands as
direct competition because the labels didn’t offer the same health and wellness
benefits. However, to boost sales,MBT UKintroduced more
fashion-driven lifestyle product in its spring ’11 collection. 

A string of
executive changes were also made to fuel growth. In September 2010, Mark Matheny
was named interim president ofMBT sale, replacing Paul Grimble
who had overseen the brand. Casagrande took on the role of president of the U.S.
and Canadian divisions in 2012.07.16 naruto. 

At present, the company’s U.S.
and Canadian offices remain open. MBT launched in the U.S. market in 2003.
MBT shoes, the Swiss brand
that put wellness on the footwear map, is in jeopardy.
Parent company Masai
Marketing & Trading AG declared bankruptcy on May 9 in Switzerland,
according to a statement on the company’s website. Joe Casagrande, president of
Portsmouth, N.H.-based MBT USA, declined to comment.
The company statement
noted competition over the past year led to the erosion of the brand and a
significant loss of market share. [url=http://www.wwd.com/footwear-news/business/wellness-brand-mbt-files-bankruptcy-in-switzerland-5903913][/url]
A turnaround in MBT’s financial situation was not deemed possible.
In a
Footwear News interview in October 2010, Klaus Heidegger, a majority shareholder
of MBT USA, said the company didn’t view the onslaught of toning brands as
direct competition because the labels didn’t offer the same health and wellness
benefits. However, to boost sales,MBT UKintroduced more
fashion-driven lifestyle product in its spring ’11 collection. 

A string of
executive changes were also made to fuel growth. In September 2010, Mark Matheny
was named interim president ofMBT sale, replacing Paul Grimble
who had overseen the brand. Casagrande took on the role of president of the U.S.
and Canadian divisions in 2012.07.16 naruto. 

At present, the company’s U.S.
and Canadian offices remain open. MBT launched in the U.S. market in 2003.