Latest Headlines – Page 124
-
Article
Goat, the sneaker reseller, is valued at $1.75 billion as it raises more funds
With the resale market being as hot as ever, no doubt due partly to the increasing role that the internet is playing, the U.S.-based Goat Group closed an additional Series E funding round $100 million, saying that it was intended to accelerate its development across product categories and geographies. According ...
-
Article
Rip Curl saves Kathmandu saleswise, recovers strongly
Kathmandu Holdings scored record sales for its financial year ended on July 31 2020, boosted by the acquisition of Rip Curl during the period. The group’s revenues soared by 48.7 percent to 801.5 million New Zealand dollars (€451.6m-$526.8m), with Rip Curl accounting for 40 percent of the total turnover, but ...
-
ArticlePatagonia’s European chief will run the whole group
Ryan Gellert, an American who has been running Patagonia EMEA since the end of 2014, has been promoted to serve as chief executive of Patagonia Works, the parent company of Patagonia Inc. In addition, Jenna Johnson has been promoted from vice president of technical outdoor to a new post as ...
-
ArticleTonal, Zwift and RunMotion Coach get new financing
The growing home fitness trend inherited from coronavirus-related self-confinement measures is whetting the appetite of investors, commanding high valuations that are nourishing the most promising start-ups and pioneers in connected and personalised fitness like Peloton. More of them have been able to raise new funds after Gymshark and Wattbike. Like ...
-
Article
Fila’s net profit drops by 51%
The pandemic took its toll on the Fila Group, which saw its net income decline by 51 percent to 45,520 million Korean won (€33.3-$37.3m) during the second quarter of 2020, as revenues declined by 34.8 percent to KRW 625,011 million (€457.1-$512.1m), but the Korean-based group managed to improve the gross ...
-
Article
CODI is set to buy Boa Technology for $454 million
Compass Diversified (CODI) has entered into a definitive agreement to acquire Boa Technology, which owns the Boa Fit System for shoe fastening. The purchase price of $454 million excludes working capital and other adjustments. The deal is expected to go through in the next 45 days or so, and Boa ...
-
Article
Slinger Bag teams up with Dunlop in Europe
Slinger Bag has announced a landmark deal for its game-changing tennis ball launcher with Dunlop, appointing the Sumitomo Rubber subsidiary as its exclusive distributor for several years in France, Germany, Austria, Italy, the Benelux countries, Spain and Portugal. With this distribution contract, which will essentially double its international exposure, and ...
-
ArticleFischer lays off 150 workers, sees possible recovery
Like Rossignol, which has just announced the elimination of 95 jobs, Fischer Sports has decided to lay off 150 workers at its Ukrainian ski factory following a drop of about 25 percent in pre-orders for the coming autumn/winter season, although the management is cautiously optimistic about the near-term future. There ...
-
ArticleNike’s shares surge on strong e-commerce and European rebound
The Nike group’s share price rose by more than 8 percent in after-hours trading on Wall Street, hitting an all-time record of $130 when the stock exchange opened this morning, after it presented good results for its first fiscal quarter ended on Aug.31, which included an 82 percent jump in ...
-
Article
Intersport and 11teamsports strike long-term cooperation
The leading German football retailer, 11teamsports, has become a long-term cooperation partner of the five-country retail group around Intersport Germany. It is combining its strong online presence and the operations of its 30-plus physical stores in the DACH region with the buying and marketing power of Intersport. There will be ...
-
Article
Importers may have to pay more to bring bicycles into Russia
Mandatory tagging of bicycles in Russia may oblige some importers to pay higher import duties, according to sources, normalizing the market in similar ways as the mandatory tagging program recently introduced for footwear. In Russia, bicycles are subject to a 10 percent import duty, but some importers of Chinese products ...
-
Article
The Norwegian retail merger can go through
The Norwegian Competition Authority has announced its endorsement of the proposed business combination between Gresvig, the Norwegian licensee of Intersport, and Sport 1 Gruppen. The two new partners are the largest sports retailers in the country after XXL Sport. As planned, they will form a new common entity, called Sport ...
-
Article
Superdry looks to social media and other strategies to revive brand after losses widen
The U.K.-based brand of street- and activewear is expanding its use of social media “influencers” to drive sales ahead of the launch of its autumn/winter collection. Its action in this area led last year to a 14 percent increase to 3.2 million in the number of followers on social media ...
-
ArticleBob Gore, inventor of Gore-Tex, has died
Robert W. “Bob” Gore, chairman emeritus of the board of directors of W. L. Gore & Associates, died on Sept. 17 at the age of 83. Gore sat on the board of his family’s materials science company for 57 years, 30 of them as chairman, and served as president from ...
-
ArticleRossignol restructures its ski production
The Rossignol Group has presented a reorganization plan to its staff that will involve the elimination of 95 jobs at its head office and at its ski factories in France. These and other measures are intended to save between €10 million and €15 million per year, adapt the production apparatus ...
-
Article
Fast ride for Ridestore
Ridestore, an online retailer of private label snowear for extreme sports founded in Sweden just over ten years ago, has reported excellent financial results for the second year in a row, attributing the growth mainly to its successful expansion to other parts of Europe and North America. For the financial ...
-
ArticleLe Coq Sportif intensifies focus on ‘Made in France’ products after posting a loss
Airesis, the Swiss holding company of Le Coq Sportif and Movement Skis, widened its net loss for the first six months of 2020 to 18.5 million Swiss francs (€17.2m-$20.4m), compared with a loss of CHF 1.9 million in the prior-year period. Consolidated revenues tumbled by 52.7 percent to CHF 32.2 ...
-
ArticleChamatex raises €10m to relocate the production of sports shoes to France
In a project initiated a year ago by a French textile producer, the Chamatex Group, the construction of a new shoe factory intended to relocate the production of top-of-the-range shoes from Asia to France started on Sept. 17 in Ardoix, where the company is based. The first three clients will ...
-
Article
Action in and around the Danish sports retail market
Russia’s leading sporting goods retailer, the Sportmaster Group, had no immediate comment on a report in the Danish press that it intends to develop the Sportmaster banner all over Europe, after turning around the Danish retail operation by the same name, which it bought at the end of last year, ...
-
Article
On launches a unique “circular” subscription service
On Running seems to have found a very clever way to engage customers. Like Peloton Interactive’s subscription system for fitness workout programs, its new Cyclon project is designed to maximize customer retention though subscriptions, but at the same time, it will be reinforcing the Swiss brand’s image as a supporter ...
