All Corporations articles – Page 24
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ArticleStormberg and XXL enter into a strategic partnership
Sports chain XXL is to buy into the Norwegian clothing, shoes and hiking equipment company Stormberg. Under the agreement, XXL will be an exclusive partner for Stormberg. The collaboration is part of XXL’s strategy to strengthen its investment in its own brands.
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News briefsBlockchain and NFT sneaker trading marketplace secures $1 million investment
MetaZ Holdings, the owners of the Korean-based sneaker trading marketplace Meta[Z], has announced a $1 million Series A Investment from Pinewood Capital. On the Meta[Z] marketplce, sneakers are traded in the form of NFTs. The platform provides a service called Custody, which receives and stores sneakers in exchange for NFTs, ...
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ArticleJD Sports Fashion proposes acquisition of Courir
JD Sports Fashion Plc has announced a proposed acquisition of the French-based athletic footwear chain, Courir.
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News briefseBay Ventures invests in U.S. marketplace for new and used sporting goods
SidelineSwap, a U.S. online marketplace for new and used sporting goods, today announced a strategic investment from eBay Ventures, the corporate venture arm of eBay Inc. Founded in 2015, SidelineSwap enables the resale of sporting goods through both its peer-to-peer online marketplace and its trade-in partnerships with retailers and brands. ...
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News briefsDecathlon Italy celebrates its 30th anniversary
Founded in France in 1976, Decathlon is present today in more than 70 countries with 105,000 employees, and has been present on the Italian market since 1993. The company has 145 stores, four warehouses, two production sites and a staff of over 8,000 people in Italy alone. In addition, the ...
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ArticleBrooks Running with 20% sales growth in Q1
After a record 2022, Brooks Running carried the momentum into the first quarter of 2023, reporting 20 percent year-over-year sales growth globally, including a record 32-percent increase in the Europe, Middle East and Africa (EMEA) region. In the first quarter, Brooks saw strong brand demand across all retail channels as ...
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ArticleReebok e-com in Europe run by Farfetch, luxury sector expansion underway
Farfetch, a leading platform provider for the luxury fashion industry, has announced that the partnership with Reebok to run its European e-commerce sites, announced following the sports retailer’s acquisition by Authentic Brands Group from Adidas in 2022, has now been implemented. The partnership announced at the time involves restructuring the ...
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News briefsOn revises its financial reporting by geography
Swiss performance sportswear brand On announced that it will release its financial results for the first quarter of 2023 on Tuesday, May 16, which will also mark the first time it will update its net revenue reporting differently by region. Specifically, “Rest of World,” which represented the Middle East, Africa ...
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News briefsNautilus sells namesake trademark, pays down debt
Nautilus, Inc. has completed the sale of non-core assets, including the Nautilus brand trademark assets and related licenses, for approximately $13 million. The connected home fitness solution company used the net proceeds from the divestiture to pay down part of its term loan. Additionally, the Bowflex parent has improved the ...
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News briefsSuperdry confirms equity raise
As reported by RetailWeek, Superdry has officially announced a capital increase to strengthen its balance sheet as part of a turnaround program. The brand intends to raise gross proceeds of approximately £12 million (€13.6m) by issuing new shares in a placing and retail offering. Founder and chief executive Julian Dunkerton ...
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News briefsVeNetWork acquires Unimonteco and creates VeNeSport, a new sports shoes network in Italy
VeNetWork SpA, a business accelerator that brings together 73 entrepreneurs from Italy’s Triveneto area, has announced the creation of VeNeSport, a new network of companies with a focus on sports footwear. Innovation consultant Flavio Alberti will head VeNeSport as the network’s president. The first company to join the new network ...
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News briefsSkechers acquires Scandinavian distributor
Skechers has signed an agreement to acquire its existing Scandinavian distributor, Sports Connection Holding ApS. Sports Connection’s business includes 58 existing Skechers retail locations, several e-commerce solutions and more than 1600 wholesale customers. The company was established in Denmark in 1994 and has been Skechers’ exclusive distributor in the Nordic ...
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News briefsIntersport to acquire Go Sport
The commercial court of Grenoble has come to a decision with respect to Go Sport Group, ruling today in favor of Intersport France’s bid for the company, according to BFM Business. Making its offer in a joint venture with the Qatari firm Al-Mana, Intersport has prevailed over about 20 companies ...
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News briefsAmazon winds down its line of Halo health and fitness devices
Amazon has announced that it will stop supporting Halo, effective July 31, 2023. In practical terms, it means that beginning on Aug. 1, 2023, Halo devices and the Halo app will no longer function. The decision was due to “significant headwinds, including an increasingly crowded segment and an uncertain economic ...
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News briefsNike boosts digital transformation with IT service provider Cognizant
U.S.-based IT service provider Cognizant Technology Solutions has entered into a new agreement with Nike to transform and support the sporting goods brand’s technology operations. Building on the two companies’ 14-year relationship, this new agreement will consolidate several of Nike’s existing IT support functions, with Cognizant supporting Nike across more ...
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ArticleAdidas wants to win back China with "patriotic products"
A few years ago, China was a promising market for Adidas because the country’s middle class was growing and the margins for Adidas were particularly strong. The brand with the three stripes was one of the most popular Western brands in China. As early as 2008, Adidas opened its (then) ...
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ArticleAuthentic Brands announces next acquisition
In another acquisition move, Authentic Brands Group (ABG), a global brand development, marketing and entertainment platform that owns more than 40 lifestyle, entertainment and media brands, including Reebok, Eddie Bauer, and Spyder, announced on April 24 that it has entered into a definitive agreement with Vince Holding Corp. (VNCE) to ...
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ArticleDyStar shuts down German plant
Singapore-based specialty chemicals company DyStar has announced plans to “restructure” its plant in Ludwigshafen, Germany, in response to changing business conditions and market changes. The plant, inherited from the company’s founders, who started indigo research and production more than 125 years ago, has been an integral part of DyStar’s global ...
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News briefsAllbirds expands and extends its credit line
Allbirds reported in a regulatory filing that it has entered into an amendment credit agreement with its lender, JPMorgan Chase, that increases the committed amount from $40 million to $50 million. In addition, the amended terms include an increase in the uncommitted additional borrowing capacity from $35 million to $50 ...
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News briefsFrench courts to decide Go Sport’s fate
According to multiple sources in the French press, the fate of Go Sport and its parent, Groupe Go Sport, lies in the hands of the commercial court of Grenoble, the city for which the sporting-goods retailer is named (Grenoble Olympique Sport). Go Sport’s owner Hermione, People & Brands (HPB) has ...
