All Corporations articles – Page 21
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News briefsAmazon to invest $26 billion in India business
Amazon said it wants to significantly increase its investment in India by 2030. After CEO Andy Jassy met Prime Minister Narendra Modi in the U.S. last week, Jassy said he wants to put $26 billion into the country, adding $6.5 billion to planned new investments. An exact breakdown of the ...
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News briefsLululemon reportedly struggling to find a buyer for Mirror
Lululemon is trying to sell its Mirror fitness product but cannot find a buyer, despite cutting its value by nearly 90 percent, the New York Post has reported. A recent filing showed that Lululemon valued Mirror at just $58 million, although the athletic apparel company paid $500 million for the ...
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ArticleVuzix OEM consumer smart eyewear business enters countdown phase
At its annual general meeting, held last week at the company’s headquarters, Vuzix announced that it plans to sell 50,000 to 75,000 enterprise products in 2023. The smart glasses supplier predicts that the market for such smart glasses will grow 20- to 50-fold to $2.5 billion by 2028, and estimates ...
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ArticleAmer Sports gets upgraded by S&P Global
Amer Sports, the parent of Arc’teryx, Salomon and Wilson brands, last week received an upgrade on its credit rating to B+ from B and a stable outlook from S&P Global. The credit rating agency, which is projecting revenue growth of 17 to 18 percent for Amer this year and 8 ...
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News briefsUnder Armour cuts 50 corporate roles to optimize cost structure
Under Armour has cut 50 corporate roles across various units and functions in order to reduce expenses, Footwear News has reported. The impacted employees will receive severance, healthcare benefits and career support, the company said. Under Armour had a workforce of around 15,000 worldwide as of March 31, 2023, half ...
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News briefsFrasers Group invests in electrical retailer AO World
Frasers Group, the owner of Sports Direct, has announced the purchase of a “strategic stake” in AO World, a retail group specializing in electrical goods based in Bolton, England, listed on the London Stock Exchange. The investment follows “productive talks over the last two years about establishing a strategic partnership,” ...
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ArticleSportmaster takes over one Decathlon store, while Russian offshoot reportedly sold and reopening
Russian sporting goods retailer Sportmaster has opened a new store under the Sportmaster Pro banner in the Raduga Park shopping center in Yekaterinburg, taking over a location previously occupied by Decathlon. This is the first time that Sportmaster has taken the place of the French retailer. In early 2023, the ...
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News briefsAuthentic emerges as “stalking horse” for Rockport
Affiliates of Authentic Brands Group, ABG-Regatta LLC and ABG Intermediate Holdings, have emerged as the ”stalking horse” bidder for The Rockport Company, agreeing to pay $40.4 million for the bankrupt firm’s intellectual property, $5 million for its Korean subsidiary and additional yet-to-be-determined amounts for inventory. Rockport filed for Chapter 11 ...
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News briefsECE completes €12 million sports and leisure project in Viennese shopping mall
Source: ECE/Meyer Boulder wall at G3 Shopping Resort Gerasdorf The German retail property company ECE Marketplaces has successfully completed an extensive project for the expansion of the G3 Shopping Resort Gerasdorf, a shopping center on the outskirts of the Austrian capital of Vienna. On an area of ...
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News briefsAnta Sports and Alibaba among first companies to introduce HKD-RMB Dual Counter Model
The Hong Kong Exchanges and Clearing Ltd (HKEX) officially launched the “Dual Counter Model” for Hong Kong Dollar (HKD) and Yuan (RMB) on June 19. This is intended to strengthen Hong Kong’s role as an international financial center by bringing more liquidity and vitality to the stock market. Anta Sports ...
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News briefsPlanetics: Startup acquired by another startup
According to Internet portal munich-startup.de, Potsdam-based startup Khulula has acquired Planetics, a Munich-based marketplace for sustainable sporting goods. Last May, Planetics – founded in 2020 – was still announcing an expansion of its pre-seed round. Then, at the end of March, Planetics made public that it was looking for a ...
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C-Suite InterviewMario Stucki: “Dimpora makes a membrane in a way no one else does”
A membrane that is waterproof, windproof, breathable, PFAS-free, biodegradable and recyclable. The science is already here. Dimpora’s CEO explains.
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News briefsAsics invests in haptics for VR exercise
Asics Ventures, the investment arm of the sportswear company, has invested in Valkyrie Industries Limited, whose hardware and software are designed to produce “immersive sports experiences” through “muscle-based haptics.” Asics’ funds will be helping bring to market Valkyrie’s EIR Armbands, which “combine virtual reality and electrical muscle stimulation.” The companies ...
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News briefsNike to release NFT
Nike has announced but not described a new sneaker NFT, due for release on June 20. Airphoria will be available in what the company calls the “ultimate sneaker hunt” through the networked video game Fortnite, published by Epic Games.
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News briefsXXL facing NOK 140 million tax bill
XXL ASA has received a reassessment from the Norwegian tax authorities relating to the group’s international transfer pricing model, leaving it owing nearly NOK 140 million. In its reassessment, the Norwegian tax authorities have increased the taxable income of XXL Sport and Villmark AS for 2015–2018, resulting in additional tax ...
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ArticleRockport files for bankruptcy protection again, CEO steps down
Forty years after introducing DresSports, considered the first classic dress shoe with a rubber sole, The Rockport Company filed for Chapter 11 bankruptcy protection for the second time in five years. The petition lists some $99.71 million in funded debt obligations and more than $63.1 million owed to its 20 ...
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News briefsNike ranks 21st in Kantar BrandZ rating; Apple remains world’s most valuable brand
Apple is the world’s most valuable brand for the second year in a row, according to the 2023 Kantar BrandZ Most Valuable Global Brands Report. The total value of the world’s 100 most valuable brands for 2023 is $6.9 trillion. Despite a 20 percent decline from 2022, the overall Top ...
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News briefsFanatics acquires Latin American wholesaler
Fanatics, a global digital sports platform and leading provider of licensed sports merchandise, has completed the acquisition of Fexpro, a Panama-based leading wholesaler of licensed sports merchandise and branded apparel in Latin America, on undisclosed terms. Fexpro is the Latin American NFL, NBA and MLB licensee and also the licensee ...
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ArticleSmart insoles supplier announces completion of investment round
Arion, a developer of smart insoles, has announced the successful completion of its latest multi-million dollar investment round for Deep Tech parent company Atogear, led by CEO Markus Hupach, former CEO of Sport 2000, since early 2022 (our sister publication The Outdoor Industry Compass reported at the time). The funds ...
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ArticleRecord year for Sport 2000 International
Sports retail group Sport 2000 International looks back on a very successful year, closing FY22 with gross sales of €6.5 billion. With the goal of becoming “an agile, future-oriented premium retail service organization,” the company is initiating a transformation and growing even closer together as an international sports retail network. ...
