All Corporations articles – Page 75
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News briefs
A new Iberian distribution company, Excens Sports, for Fischer and other brands
Spain’s Excens Group, which owns several outdoor and bike brands, has moved into wholesale distribution, acquiring the Iberian distribution rights for the Fischer, Smith, Barts, Level and Polaroid brands. To handle them, it has created a distribution company called Excens Sports. The group is planning further expansions of its brand ...
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ArticleApex’ losses widen while it seeks strategic alternatives
Impairment charges of close to $10 million, mostly related to the impact of the Covid-19 pandemic; weighed on the profits of Apex Global Brands, previously called Cherokee Global Brands. The net loss for the parent company of Hi-Tec, Magnum,Tony Hawk and other brands expanded by 5 percent to $1.3 million ...
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Article
Klarna’s high valuation proves the merits of buy-now, pay-later schemes
Klarna, the Swedish provider of online payment services, raised $650 million in an equity funding round that values the whole company $10.65 billion. Known in Europe for the growing popularity of its buy-now, pay-later program, claims that the valuation ranks it as the highest-valued private fintech in Europe and the ...
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Benko gets 92.5% of Signa Holding
René Benko, the Austrian investor, is raising his indirect stake in Signa Holding to 92.5 percent by financing the bulk of a €485 million equity increase through the holding companies that he controls, according to Bloomberg and various Austrian media. Another shareholder, the Swiss-based investor Ernst Tanner, will see his ...
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Glenmuir launches a special online platform
Glenmuir has launched a new online platform that is meant to simplify the buying process for golf professionals and retailers who wish to order club-crested clothing made by Glenmuir and its subsidiary Sunderland of Scotland. Described as being the first of its kind in the golf industry, the platform can ...
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UA to control its EMEA sales from Amsterdam
Under Armour has announced plans to establish a “futuristic” digital hub at its European headquarters in Amsterdam to centralize sales operations and to improve the brand experience. The hub is to have a “combination of physical and digital attributes,” supporting in-person and remote selling. It will combine an “enhanced digital ...
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ArticleWattbike to receive £11.5m in new funding
Piper, an investment firm in London, is planning to pour £11.5 million (€12.5m-$14.9m) into Wattbike, a relatively young British brand of smart stationary bikes. The deal, which may have been spurred on by Gymshark’s recent ultra-successful fund-raising, is awaiting approval from the Financial Conduct Authority (FCA), the U.K.’s financial regulatory ...
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Under Armour expands its restructuring plan
Under Armour is now planning to lay off a total of 600 employees, working primarily in its corporate offices around the world and representing around 9 percent of its total staff, as part of an expanded restructuring program involving pre-tax charges of between $550 million and $600 million to be ...
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Helly Hansen overhauls its IT
Helly Hansen is overhauling its computer system to smooth operations, cut costs and come into compliance with regulations in various countries. The Norwegian sports apparel and gear producer is stringing together the Infor M3 enterprise resource platform (ERP), the Salesforce customer resource management (CRM) platform, the Front Systems point-of-sale system, ...
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Fanatics acquires Top of the World from Vetta
Fanatics, the Florida-based provider of sports merchandise, is acquiring some of the assets of Vetta Brands, which is currently under liquidation. Chief among these assets is Top of the World, which, until the Covid-19 pandemic wiped out its business, had been manufacturing hats for hundreds of college sports brands at ...
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S&P downgrades Boardriders
Standard & Poor’s has downgraded the debt ratings for Boardriders in relation to a recent offering of $155 million intended to improve its liquidity position. The new offering includes $65 million worth of term loans contributed by the company’s major shareholder, Oaktree Capital Management, $45 million contributed by other existing ...
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News briefsApplications are open for Ispo Brandnew
ISPO Brandnew, the largest platform for sporting goods start-ups, is entering the next round, opening its application platform at ispo.com. The competition was launched 20 years ago and has since produced some high-profile winners including GoPro, Naish Kites, Maloja, Nixon and On Running. More than 400 products competed for the ...
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ArticleNew funding round for Keller Sports
Although its profits have been growing more than its sales, the Keller Group says ithas secured more than €10 million in new financing from its shareholders to further strengthen its position as “the leading digital premium sports community for sports and sports lifestyle products and services in Europe.” The management ...
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Speedo to investigate its licensee in India
Speedo International is reportedly launching an investigation into a factory in India that manufactures products under its own brand name, because another Indian factory owned by the same licensee is suspected of labor abuses. The factory is operated by Speedo’s licensee for India and Sri Lanka, Page Industries, which distributes ...
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A special director joins Under Armour’s board after a new shareholders’ complaint
Under Armour has announced that Wes Moore, the chief executive of the Robin Hood Foundation, has joined its board of directors. The foundation has distributed more than $3 billion to organizations that address disparities in education, housing, food insecurity and workforce development. Moore, 41, has worked in investment banking and ...
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Two French retailers are merging
Frasteya and Lafreto have announced their merger, with immediate effect. The new joint company resulting from the merger of these two French physical players specializing in outdoor and boardsports is called 113Outdoor. As reported by sport-guide.com, Frasteya will be the majority shareholder while Lafreto will hold a minority stake in ...
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Article
Galeria’s creditors agree to a big settlement
On Sept. 1, the creditors of Galeria Karstadt Kaufhof (Galeria or GKK), by far the biggest department store chain operation in Germany, voted by a large majority in favor of a settlement that would reportedly write off about 95 percent of the amounts they are owed. Meetings with the creditors ...
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361° sees its credit rating downgraded
Standard & Poor’s has downgraded the credit rating of 361 Degrees International, predicting that its position in the Chinese market will weaken due to an accelerated consolidation of the industry, leading its sales to decline by 5 to 10 percent in 2020 and by up to 5 percent in 2021. ...
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Adidas places two low-yield €500 million bonds
Adidas placed two low-yield bonds worth a total of €1 billion, describing the transaction as its first one as an investment-grade-rate issuer, demonstrating the company’s strong credit profile. The bond offer was more than seven times oversubscribed. The proceeds will be used for general purposes including the repayment of existing ...
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ADIFO launches U.S. operations
The Adi Dassler International Family Office (ADIFO), a privately-owned, independent wealth advisory firm for families, recently launched U.S. operations in Miami and Tampa, Florida. ADIFO was founded by Klaus, Horst and Stefan Bente, the three sons of Inge Dassler, the oldest daughter of Adidas’ founder, Adi Dassler. Currently run by ...
