All Corporations articles – Page 87
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Article
Asics incubates five more start-ups
Applications for the Asics Tenkan-Ten accelerator program were up by 60 percent this year, with candidates hailing from 38 countries. Asics has now selected five growth-stage start-ups to take part in its four-month program to meet their goals for both business and funding. Fun With Balls was founded in 2016 ...
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News briefs
The consortium led by Anta Sports Products that bought Amer...
The consortium led by Anta Sports Products that bought Amer Sports last month is exploring the possible sale of its U.S.-based fitness equipment brand, Precor, according to Bloomberg. The report indicates that several potential buyers have shown interest in the brand, which could fetch about $500 million. Prior to its ...
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Article
Nike stops with Amazon’s marketplace
A few days after the appointment of a new chief executive, John Donahoe, who previously ran eBay, the Swoosh announced that it will stop a pilot program, initiated in 2017, to sell selected products on the Amazon Retail marketplace. Nike justified the move with its “focus on elevating consumer experience ...
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News briefs
After divesting Courir, its chain of athletic footwear stores, the...
After divesting Courir, its chain of athletic footwear stores, the Go Sport Group has entered negotiations to sell off its Go Sport Montagne franchise to Skiset, a group founded in 1994 that is now operating 900 ski-rental stores internationally. Go Sport launched the franchise three years ago as a complement ...
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Article
Adidas partners with the Space Station
Adidas has announced a multi-year partnership with the International Space Station (ISS), the space laboratory managed by the U.S. Center for the Advancement of Science in Space (Casis). The partnership will explore breakthroughs to improve the future design and engineering of sporting products on and off Earth. For to station’s ...
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News briefs
Pon Bike has acquired Urban Arrow, a Dutch brand of...
Pon Bike has acquired Urban Arrow, a Dutch brand of electric cargo bikes. Pon has disclosed no financial details about the acquisition. Founded in Amsterdam in 2010 by Jorrit Kreek and Gerald van Weel, Urban Arrow operates in 20 countries and employs a staff of 60 at its headquarters and ...
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News briefs
Ciesse Piumini's parent company, Sport Fashion Service, has been acquired...
Ciesse Piumini's parent company, Sport Fashion Service, has been acquired by Mittel, an Italian investment bank, which now owns 90 percent of the Italian down clothing specialist. Ciesse, which was the property of Fila for a while, was a direct competitor of Moncler in its early days, but it didn't ...
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News briefs
Anta Sports Products, which had a 57.95 percent stake in...
Anta Sports Products, which had a 57.95 percent stake in the consortium that bought Amer Sports earlier this year, will no longer have to include and report Amer's figures, which have been dilutive, in its consolidated income statements. Anta is shedding 5 percent of its economic interest in the group ...
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News briefs
Roger Federer owns both 20 Grand Slam trophies and more...
Roger Federer owns both 20 Grand Slam trophies and more than 250 pairs of sneakers. Now, as retirement from professional tennis approaches, the Swiss tennis champion has signed something more than an endorsement deal with On Running, the Swiss brand of running shoes. He has taken an unspecified financial stake ...
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Short stops
Nike announced an 11% increase in its quarterly dividend shortly...
Nike announced an 11% increase in its quarterly dividend shortly after appointing its new CEO, John Donahoe (see our previous issue)
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News briefs
The district court in Dortmund has terminated the insolvency proceeding...
The district court in Dortmund has terminated the insolvency proceeding of Sport Voswinkel, following the creditors' unanimous vote in favor of a recovery plan. The German sports retailer can start to operate again as an independent firm. The court opened the proceeding in July. The recovery plan includes the closure ...
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News briefs
Salomon has opened a Performance Center next to its existing...
Salomon has opened a Performance Center next to its existing Design Center in the French city of Annecy. The 820-square-meter facility is open – by appointment only – to skiers on the World Cup and regional racing circuits. In the words of Véronique Rémy, head of marketing, the move is ...
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Article
Asics invests more in digital
Asics Corp. continues to make new investments in start-ups and adjacent segments. Late last month, the Japanese group acquired Race Roster, a Canadian-based platform with a suite of services for the organizers of foot races that will complement its Runkeeper platform, based in Boston, and other digital operations. The purchase ...
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News briefs
Sports Direct has appointed RSM UK as its auditors with...
Sports Direct has appointed RSM UK as its auditors with immediate effect. The appointment follows the recent split with Grant Thornton, which withdrew from the role at Sports Direct's AGM in September. Grant Thornton had been the company's auditor since 2007. As a listed company, the sporting goods retailer must ...
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News briefs
Nike has agreed to sell Hurley for an undisclosed amount...
Nike has agreed to sell Hurley for an undisclosed amount to a private equity fund, Bluestar Alliance. Nike had purchased the surfwear brand from its founder, Bob Hurley, in 2002. Bluestar, which owns many other consumer brands, including Bebe and English Laundry, says it wants to build Hurley into a ...
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News briefs
Formosa Taffeta will acquire a 50 percent stake in Schoeller...
Formosa Taffeta will acquire a 50 percent stake in Schoeller Textil in March of next year, after receiving the approval of its board of directors. The companies have been partners in the Hong Kong-based joint-venture Schoeller FTC for 18 years. According to the Taipei Times, Formosa plans to invest up ...
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News briefs
Fitbit is moving the manufacturing of its trackers and smartwatches...
Fitbit is moving the manufacturing of its trackers and smartwatches out of China. As of January 2020, they will be manufactured elsewhere and no longer be subject to the new tariffs imposed by the U.S. government.
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Short stops
Topgolf International, a major operator of golfing centers partly owned...
Topgolf International, a major operator of golfing centers partly owned by Callaway Golf, is exploring an IPO, according to Reuters
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News briefs
To refocus on its primary business of supermarkets, the Migros...
To refocus on its primary business of supermarkets, the Migros Group of Switzerland is disposing of M-Way, a chain of 28 e-bike and kick-scooter stores in the country with its own e-tail site and a staff of about 100. The acquirer is the Swiss E-mobility Group, which already owns the ...
