Latest Headlines – Page 228
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Alibaba acquires majority stake in Lazada
Alibaba Group Holding has made its largest overseas acquisition to date by buying a controlling stake in Lazada, an e-commerce company headquartered in Singapore, for one billion U.S. dollars. Alibaba will pay $500 million for new shares in the company and purchase an equal amount from the existing investors, which ...
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Technogym’s IPO draws nearer
Technogym will price its shares in a range of between €3.00 and €3.75 for its planning for an initial public offering on the Italian stock exchange, giving it a valuation of between €603 million and €753 million.The figures communicated so far indicate that the leading Italian fitness equipment company raised ...
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Vivobarefoot beats equity crowdfunding target
As of a deadline set at April 6, Vivobarefoot, the brand of minimalist shoes with patented ultra-thin soles controlled by Galahad Clark, had secured over £1.2 million (€1.5m-$1.7m) from 1,121 investors with just one day remaining to invest, far exceeding its previously set goal of £750,000 (€625,678-$711,383). The largest single ...
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Calida raises its stake in Lafuma
The Swiss lingerie group has reached an agreement to acquire a further 11.63 percent stake in the French Lafuma Group, which owns the Lafuma, Millet, Eider and Oxbow brands, from two institutional investors, Comir and Suparcif. With this transaction, Calida will raise its shareholding in the company to 71.55 percent. ...
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New owner for Tenson after USG bankruptcy
Tenson is poised to expand more rapidly in international markets in the coming years, after the Swedish outdoor brand was acquired at undisclosed terms by Nedvest Capital, a Dutch investment firm.Tenson was previously owned by the Unlimited Sports Group (USG), the leading Dutch sports retailer and wholesaler, which was declared ...
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Jarden’s Outdoor Solutions segment takes a writeoff
Provisions booked by Jarden Corp. for its winter sports operations in the fourth quarter of 2015 add to speculation that they may be divested after the consummation of its merger with Newell Rubbermaid, which was agreed in principle on Dec. 14 and completed following approval by shareholders of both companies ...
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Moncler sets up a new factory in Romania
Moncler has hired around 600 people for the factory it is establishing in Romania, in the Bac?u county, via its local subsidiary Yield Industries. The move is part of a wider plan to expand the company's capacity to make down jackets in-house, while further consolidating its know-how in down jackets. ...
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New board for Elan
About six months after the company's sale to private investors, Elan has appointed a three-member board of directors with two high-profile sports industry executives. Michaela Stitz, previously vice president and general manager for Nike in Central and Eastern Europe, has become the board's non-executive chairwoman. Another non-executive board member is ...
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UA makes waves in sports marketing
Under Armour continues its inroads into global football and rugby in the U.K. It has signed a new 7-year contract with the Southampton Football Club as well as a three-year partnership with an English Rugby Union club, the Worcester Warriors.Both partnerships start with the 2016/17 playing season. Southampton FC, which ...
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Lululemon's sales hit the $2bn milestone
The revenues of Lululemon Athletica for the fiscal year ended Jan. 31, 2016 landed for the first time beyond the $2 billion mark, jumping by 15.0 percent over the prior year to $2,100 million. The Canadian brand attributed this performance in part to its international expansion, with the opening of 61 ...
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Peak Performance firms up revitalization plans
The investor day of the IC Group held in Copenhagen on April 6 yielded some interesting details about the Peak Performance brand's sales, while discussing the strategic shift that was detailed in The Outdoor Industry Compass earlier this year to revitalize the Swedish ski, outdoor, golf and lifestyle activewear brand.A ...
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PSG posts a big loss
Performance Sports Group (PSG), which owns Bauer and other operations in ice hockey, lacrosse, baseball and softball products, recorded a net loss of $188.1 million in the fiscal third quarter ended Feb. 29, compared with a net loss of $12.5 million in the year-ago quarter. The main factor was a ...
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Nike unveils plans for HQ expansion
Nike has announced new plans to extend its world headquarters in Beaverton, Oregon. The expansion, scheduled for completion in 2018, will add around 3.2 million square feet of office, mixed-use and parking facilities to the campus. The landscape architecture services for the project are guided by Portland-based Place, while the design ...
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Adidas invests in Portland and NYC
The Adidas Group is set to hire an additional 120 employees at its North American head office in Portland, Oregon, as the company continues to invest to regain U.S. market share. The number of group employees in Portland already increased from 850 to 1,200 last year, with the shift of ...
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Peak Sport invests in running and sports events
While continuing to raise its sportswear sales in China and in international markets, Peak Sport Products intends to expand laterally by operating as a sports agency and an organizer of sports events, fitness camps and training programs. The Chinese sports company says it wants to invest in technology and staff ...
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Stella optimistic for 2016 despite volatility
Stella International, a Chinese company which makes footwear for high-end sports and luxury brands, had a difficult first quarter, but it believes that volume growth will return to normal levels in the second half of the year and expects demand for sports fashion footwear to remain strong.For the first quarter ...
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Adidas, Puma launch major sustainability initiatives
Adidas is retooling its sustainability policy through the launch of the “Sport needs a space” strategy, the new catchphrase that was revealed in its recent 2015 Sustainability Progress Report. “Sport needs a space” is the result of extensive consumer research the company has undertaken to gauge how important sport is ...
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Allied Feather & Down attains TDS traceability certification
Allied Feather & Down has been certified by NSF International to the Global Traceable Down Standard (TDS). Certification to the Global TDS can be granted to organizations that demonstrate that the down they process is from farms complying with the highest levels of animal welfare, and that the down is ...
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JD and Sports Direct to buy USG's stores in Belgium and Holland
JD Sports Fashion has finalized an agreement for the takeover of Perry Sport and Aktiesport, two major Dutch sports retail chains that went bankrupt last month. The British sports, fashion and outdoor retailer said the deal has been agreed for a cash consideration of €26.5 million excluding fees, retention of ...
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SDI falls under stronger pressure as dispute with MPs escalates
Mike Ashley's dispute with members of the British Parliament has escalated further this week as the majority shareholder of Sports Direct International (SDI) described the select committee that summoned him to appear before it at Westminster as “a joke” and accused it of “showboating.”The gasps caused by this part of ...
