Latest Headlines – Page 225
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Adidas to divest Mitchell & Ness
Adidas has entered into a definitive agreement to sell its Mitchell & Ness business to a newly-formed company owned by Juggernaut Capital Partners. Adidas said the sale of the Philadelphia-based apparel brand will allow the group to focus more aggressively on its core brands. Mitchell & Ness is best known ...
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New management and record sales for Deckers
Deckers Brands announced that Dave Powers will succeed Angel Martinez as chief executive of the American group following Martinez' retirement, effective May 31, after a long career. He was a co-founder of Keen. He acted as CEO of Rockport, chief marketing officer of Reebok and CEO of Keen before he ...
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Skins puts equity crowdfunding round on hold
Skins, the brand of compression sportswear based in Switzerland, has suspended its equity crowdfunding campaign after major investors expressed interest in obtaining a substantial shareholding in the brand. It had launched a crowdfunding campaign in February this year on Seedrs in the U.K. and Equitise in New Zealand, aiming to ...
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Athleisure drives expansion in Belle's sportswear stores
The athleisure trend appears to be talking hold in China, as the country's leading footwear and sportswear retailer reported a decline in footwear sales but a sharp increase in the turnover of its sportswear and apparel stores. Belle International attributed the combination to a shift in Chinese consumer behavior, with ...
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Vulcabras continues to improve
Confirming its financial turnaround, the Brazilian company that sells its own shoes under the Azaleia, Dijean, Opanka and Olympikus brands, reported a 17.0 percent increase in net revenues to 251.5 million reais (€62.7m-$70.4m) for the first quarter ended March 31.The gross margin improved to 33.2 percent from 32.4 percent in ...
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Alpargatas performs relatively well
Alpargatas posted upbeat results for the first quarter of 2016, despite the ongoing low consumption rate and other economic problems in Brazil. Total revenues increased by 9.3 percent to 1,011.6 million reais (€251.1m-$281.9m) during the quarter ended March 31 for the company that owns the Havaianas and Dupé brands of ...
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Fesi launches counterfeiting awareness campaign
The Federation of the European Sporting Goods Industry (Fesi) has launched an awareness campaign relating to online purchases of counterfeit sporting goods, with financial support from the European Union.“Score the real thing” chiefly consists of videos to be disseminated through social media about the dangers of buying counterfeit goods. Instead ...
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Asics shows significant progress in sustainability performance
Asics said it achieved tremendous progress in various areas of its sustainability performance during 2015, as summarized in its recently released 2015 Sustainability Report. The company reduced CO2 emissions by 43 percent, water consumption by 50 percent, and solid waste emissions by 17 percent per pair of shoes manufactured as compared ...
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Victor Duran will lead Intersport International
An extraordinary general meeting of Intersport International Corporation (IIC) has unanimously appointed a 49-year-old executive of Amer Sports, Victor V. Duran, to succeed Franz Julen in the delicate and demanding job of chief executive of the world's largest sporting goods retail organization. Moving to its head office in Bern, he ...
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Intersport grows by 4.6% in the first quarter
The combined sales of the retailers affiliated with Intersport around the world grew by 4.6 percent to a level of €2.73 billion including sales taxes in the first quarter of 2016. The score was pretty good considering that winter weather conditions were not favorable, except for the month of January, ...
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The Athlete’s Foot is running faster
Bought by Intersport International in December 2012, The Athlete's Foot (TAF) continued to grow faster than its parent company in the first quarter of this year. Retail sales were up by 5.7 percent in euros, with strong increases of 14.7 percent in local currencies and 6.3 percent on a comparable ...
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Adidas to start talks for golf assets sale
The Adidas Group has decided to reduce its interest in the golf market by starting talks for the sale of the TaylorMade, Adams Golf and Ashworth brands. While pulling out of the golf equipment market, it would focus its golf apparel and footwear business on the Adidas brand.After a slump ...
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The Adidas Group blazes ahead
The Adidas Group blazed ahead in the opening quarter of this year, carried by soaring demand for its sneakers and the run-up to the European football championships.Herbert Hainer, the group's chief executive, said in a conference call that Adidas “flew off the starting blocks.” The performance was supported by Creating ...
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Mega-bids in the making for DFB and Chelsea
Adidas stands to earn compensation estimated at about €50 million after it agreed with Chelsea football club on the early termination of their partnership. It was due to expire at the end of June 2023 but will instead come to an end six years earlier, at the end of June ...
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Puma starts construction of new headquarters
Puma held a groundbreaking ceremony on May 13 to celebrate the beginning of construction works for the expansion of its headquarters in Herzogenaurach, Germany. Guests of honor included the Bavarian State Minister of Finance, Regional Development and Home Affairs, Markus Söder, football legend Lothar Matthäus, who is also a long-time ...
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Trading publicly, Technogym sports double-digit growth
Technogym made a strong debut on the Milan stock exchange earlier this month. Launched at a price of €3.25 per share, the 57,500 shares offered by Salhouse Holding, including a greenshoe overallotment option due to be exercised by June 3, were about four times oversubscribed by institutional investors, who placed ...
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Mokumono uses crowdfunding to produce bike frames in Holland
Mokumono Bikes, a new Dutch bicycle brand, has launched a Kickstarter campaign to finance the production of its innovative bicycle frames in the Netherlands. Mokumono was hoping to raise €90,000 on the New York-based crowdfunding platform in a 30-day campaign ending May 20, but as of last Friday, the Amsterdam-based ...
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Nautilus posts a 25% sales increase
Nautilus unveiled a 25.7 percent increase to $120.9 million in its revenues for the first three months of the year, compared with the corresponding quarter in 2015. The fitness equipment manufacturer said that this performance was driven by the recent acquisition of Octane Fitness, along with strong organic sales growth ...
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Asics reinforces European sales and structure
Asics had a nearly stagnant turnover for the quarter to the end of March, but its underlying sales increased in Europe with growing demand in running, indoor sports and the Asics Tiger fashion brand.The Japanese group's sales reached 117.8 billion Japanese yen (€953.4m-$1,081.7m) for the quarter, up by 0.3 percent. ...
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Weak sales rise and smaller profit at Mizuno
Mizuno's profit fell sharply for the fiscal year to the end of March, as exchange rate changes inflated costs that could not be compensated by underlying sales increases in Europe, Japan and other Asian countries.The Japanese group's sales increased by 4.8 percent to ¥196.1 billion (€1,587.3m-$1,801.6m) for the year, which ...
