Latest Headlines – Page 184
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Russia wants to curb imports of fake shoes and clothing
The Russian Industry Ministry is considering the introduction of a system of labeling for sports products from late 2018, and to certify those that are destined for professional athletes from mid-2019. The goal is to lower the sale of counterfeit products, which have become more expensive because of the depreciation ...
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The Eurasia Union limits duty-free e-commerce
The Eurasian Economic Union is introducing new limits on duty-free purchases from foreign online retailers. The current limit of €1,000 on the combined value of monthly orders by citizens in the economic area is set to be lowered to €500 from Jan. 1, 2019 and to €200 from Jan. 1, 2020. Founded ...
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Columbia to buy out China joint venture
Columbia Sportswear and Swire Resources will part on friendly terms from their joint venture in China after Columbia stated its intention to acquire the remaining 40 percent in Columbia Sportswear Commercial (Shanghai).An amicable press release issued by Columbia and Swire states that Swire Resources will continue as the exclusive independent ...
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Technogym claims digital leadership
The Italian fitness and wellness equipment company claims to be the industry leader in “connected fitness.” Its cloud-based Mywellness platform, which was launched in 2012, is now connected with 15,000 wellness clubs around the world. It is used by about one-fourth of the 40 million people who are estimated to ...
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Pittards improves sales and profits
Pittards, a major supplier of leather to the sporting goods industry based in the U.K, made a pre-tax profit of £400,000 (€458,000-$562,572) in 2017, down from a loss before taxation of £4.1 million in 2016, when it faced a major inventory writedown of £4.3 million (€4.9m-$6.0m).Revenues jumped by 12 percent ...
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Houdini expands its garment rental program
In an unusual move, Houdini Sportswear and the Copperhill Mountain Lodge in the Swedish ski resort town of Åre have been offering hotel guests the opportunity to rent their ski clothing since the beginning of February, and the Swedish company says that both partners are satisfied with the new experience.Since ...
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Rucanor expands again
Rucanor is returning to the sports footwear market, as the company behind the Dutch brand of sports apparel and small equipment is rebuilding relationships with key retailers in the Benelux countries and Germany.Rucanor came under some pressure after Sport Services Europe, which formerly owned the Rucanor brand, went into receivership ...
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JD buys The Finish Line
With annual sales of more than $5 billion, JD Sports Fashion is set to become the world's fourth-largest integrated sporting goods retailer, vastly improving its purchasing power with the likes of Nike, following a merger agreement reached on Sunday under which it will take over The Finish Line, a direct ...
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The Go Sport Group diversifies, nearing sales of €1 billion
While introducing new services and further developing its presence in other markets, the Go Sport Group is following an interesting multi-banner category management strategy in its domestic market, focusing on winter sports, outdoor, cycling, fitness and running products. It started in 2014 with the creation of a new chain of ...
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Intersport grows by 10% in France
Intersport continues to grow faster than the market in France, where it posted a 10 percent increase in revenues for 2017, with a very strong increase of 6.9 percent on a same-store basis. The affiliated retailers' sales reached the milestone of €2 billion in sales to consumers after VAT, as ...
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Intersport starts opening stores again in Russia
Intersport has opened a new store in Russia for the first time since August 2016, when the banner got a new master franchisee for the country. The new store of 350 square meters is located in the Rio shopping center in downtown St. Petersburg. It is the third Intersport store ...
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A new “hub and spoke” strategy for Intersport in China
Intersport has started deploying a “hub and spoke” strategy with its three licensed partners in the Chinese market, combining flagship multi-category stores with smaller running specialty outlets. This combination of two different types of physical stores is set to be complemented with online sales – through marketplaces at the start, ...
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Nike buys into consumer analytics, Edwards quits
While reporting its quarter results last Friday (see the next story in this issue), Nike announced that it has taken over Zodiac, a consumer data analytics firm operating out of New York and Philadelphia. The acquisition is meant to add to Nike's resources in terms of consumer data and analytics, ...
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Nike stops falling at home, performs better elsewhere
Nike has signaled a significant reversal of the trend that saw it lose some ground in the North American market in the last quarters, as it performed better than anticipated for the third quarter of its fiscal year, ended on Feb. 28.The brand's sales in North America showed a sales ...
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Adidas invests for market share and profit gains
Despite relatively weak demand for apparel, slower comparable store sales increases in Europe and delayed deliveries in the U.S. market, the Adidas Group managed a sales increase of 16 percent in constant currencies and an even sharper rise in profits for 2017, which encouraged it to upgrade its five-year profit ...
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Adidas upgrades profit guidance, buys back shares
The Adidas Group has shifted gears in the first full year under the leadership of Kasper Rorsted, to amplify and accelerate the five-year strategic plan launched three years ago. The group's management team and brand assets were both rejigged, while the company implemented more centralization, tackled losses at Reebok and ...
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Puma will return to basketball, accelerate in China
As it prepares for a change of ownership, Puma has come forward with a target for consolidated sales to grow at an average annual rate of about 10 percent in constant currencies until 2022, while its operating profit (Ebit) margin is anticipated to reach about 10 percent of consolidated sales ...
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Puma invests more in football
Puma has just announced a new long-term sponsorship deal with Sociedade Sportiva Palmeiras, starting next Jan. 1. Often referred to as “The Green Giant,” Palmeiras is a Series A Brazilian football club, previously sponsored by Adidas, that counts some 16 million supporters in Brazil and elsewhere. Based in São Paulo, ...
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VF buys Altra, sells Nautica
VF Corporation reported on March 14 a definitive agreement to buy Altra Footwear, the fast-growing American brand of sports shoes, from Icon Health & Fitness. Four days later, it announced the long-awaited sale of one of its remaining contemporary sportswear brands, Nautica, to the Authentic Brands Group (ABG).VF said the ...
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Pentland acquires Endura
Pentland Brands, the British family-owned business behind Speedo, Berghaus and other brands, has acquired Endura, another family-owned company based in Scotland. Endura is a cycling apparel brand and the clothing partner of the Movistar Team, among others. The brand is worn by road, mountain bike and triathlon teams and riders.In ...
