Latest Headlines – Page 190
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Kering prepares to spin off Puma
After many months of speculation, Kering's board of directors is proposing to spin off the group's stake of around 83 percent in Puma by distributing about 70 percent of its shares to Kering's shareholders, while directly retaining a 16 percent interest in the German sports company.Artémis, the holding company for ...
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Intersport seals partnership with Signa
Intersport Deutschland has sealed a partnership with Signa Retail under which Karstadt Sports will purchase products through the leading German buying group. The two companies said that the agreement will be gradually widened to other parts of the Signa Sports Group, which generates total retail sales of about €600 million.The ...
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Billabong’s board backs its takeover by Quiksilver’s parent
Just a few years after being rescued with financial restructuring schemes, Billabong and Quiksilver are preparing to form a big action sports group with multiple brands, taking advantage of a common platform. The proposed acquisition of Billabong International by Quiksilver's holding company, Boardriders, was approved by the Australian company's board last ...
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GoPro is in the doldrums
GoPro has hired J.P. Morgan to explore strategic options, according to multiple sources. Nick Woodman, the founder and chief executive of the action camera firm, said in an interview with CNBC that he would consider a sale to a larger company, but then told Reuters that GoPro was not actively ...
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Pentland forms a joint venture with Lacoste
With annual sales estimated of around €200 million at the wholesale level, representing about 10 percent of Lacoste's total wholesale-equivalent turnover, Pentland Brands and Lacoste have decided to transform their 26-year-old licensing agreement for Lacoste footwear into a capital and profit-sharing joint venture.As part of the new agreement between the ...
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Asics signs up Djokovic
In an unusual marketing initiative for the brand, Asics has announced a partnership with Novak Djokovic, the former Numero Uno in the world of tennis, taking the place of Adidas. The duration and price of the contract have not been disclosed. After focusing on running, Asics sees the deal as an ...
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Bernd Hummel licenses Homeboy
Bernd Hummel, the big German-based licensee of Pentland Brands for Kangaroos, has taken over the European license for Homeboy Loud Couture, an iconic German brand of streetwear that was taking care of its footwear line in-house. The first line developed by Bernd Hummel will be sold during the spring/summer 2019 ...
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Shimano consolidates its European operations
Shimano's European group of companies has responded to a disappointing 2017 by merging three separate business units into a single operation. At the same time, the company decided to add fresh blood to the European executive board in the form of two new members.The reorganization is aimed at consolidating and ...
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Olympic advertising rules are relaxed in Germany
The International Olympic Committee (IOC) and the German Olympic Sports Confederation (DOSB) have agreed to relax some restrictions on advertising during and around the Olympic Games, after administrative proceedings conducted by the Bundeskartellamt (BKA), the German competition authority, found the rules to be overly restrictive.While the changes relate to the ...
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Arena accelerates, diversifies
Arena's new management team is relatively satisfied about last year's performance, and it is also rather bullish about the prospects ahead. The leading swimwear producer booked an estimated 5 percent increase in its net sales to €116 million in 2017, including sales to wholesale distributors, and it ended the year ...
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Reima expands internationally
Reima continues to move into new foreign markets, fueling strong growth for the Finnish brand of children's outdoor apparel, which was acquired in 2011 by Riverside, the American private equity company that previously controlled Arena.Reima's international expansion has driven strong growth for the company in the past few years. From ...
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Under Armour starts delayed expansion in Ukraine’s depressed market
Under Armour announced the opening of the brand's first stores in Ukraine at the end of December. They are both located in Kiev and operated by Under Armour's exclusive distributor in the country, the MD Fashion group.MD Fashion is one of the biggest multi-brand distributors in the Ukrainian fashion market, ...
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New partner for Sporthyra
Sporthyra is innovating again. The Swedish sporting goods chain was founded four years ago as a retailer where customers could rent equipment for shorter or longer periods of time. Thanks to this unique concept, the company has managed to break through on the Swedish market despite fierce competition from established ...
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Tradeinn's sales reach €120 million
Tradeinn, the leading online sports retailer in Spain, has raised its sales by about 50 percent to €120 million last year, as it improved its retail platform and continued to expand the number of sports categories covered.The turnover figure was reported to EFE, the Spanish news agency, by David Martín, ...
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Retail clean-up will shrink Xtep’s profits
Xtep International has warned that its net profit will be down by about 25 to 35 percent for 2017 because of a clean-up of inventories undertaken by the Chinese sports apparel and footwear intended to support a shift toward the running market – the last move in a transformation that ...
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Nike deploys digital and retail investments
Nike's investments in its own retail business and digital development sharply reduced its profit margin for the three months until the end of November, but the group indicates that the spending is starting to pay off and that multiple product launches should help to whip up demand in North America.The ...
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Adidas reorganizes its digital sports operations
Adidas appears to be tossing in the towel on wrist-based fitness devices, following similar moves by Nike and Under Armour. The company's North American office announced a few days ago that it is discontinuing its dedicated Digital Sports business unit, which has been marketing its branded GPS running watches, fitness ...
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Massimo Baratto moves from Oberalp to Under Armour
Massimo Baratto, the 55-year-old Italian brand-building expert who is running Oberalp, is going to leave the South Tirolean company at the end of April to run the European operations of Under Armour, the big American sports brand, replacing the incumbent vice president and European managing director, Chris Bates. He and ...
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Sports Direct invests more in flagship stores
Sports Direct International (SDI) suffered a steep fall in profits for the six months to Oct. 29, but the British sports retailer attempted to assuage investors with what it referred to as the “spectacular trading performance” of its flagship stores and an expanded partnership with Nike.The group's sales were up ...
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Decathlon continues its African expansion
Decathlon is moving ahead with its expansion in Africa, preparing its entry into Kenya with the opening of a store in Nairobi, the country's capital, in the course of 2018.The French sporting goods retailer already had six stores in Morocco and another in Ivory Coast at the start of this ...
