Latest Headlines – Page 38
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ArticleTwitter to become nothing, anything, everything
It appears that we were on to something a few months ago. Twitter has taken another step towards becoming X – “the everything app.” But what does this mean, and why the change in a brand as iconic as Twitter? We take a look.
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ArticleFootway Group has applied for voluntary company reorganization
Swedish Footway Group, operator of specialized online stores, has applied for voluntary company reorganization. According to the company, the decision is based on “the very challenging conditions that the sports retail industry in Sweden and Norway has faced in recent months,” and an acute liquidity situation. During the reconstruction period, ...
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ArticleAdidas reportedly receives €508 million in Yeezy orders
Adidas is said to have received €508 million in orders for 4 million pairs of shoes from the now defunct Yeezy partnership, according to the Financial Times. This, sources report, exceeded the company’s most optimistic forecast, although total net sales were lower than the value of the stock. In its ...
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ArticleIOC announces shortlist for first Climate Action Awards
The International Olympic Committee (IOC) has announced the athletes, International Federations (IFs) and National Olympic Committees (NOCs) shortlisted for the inaugural IOC Climate Action Awards. The purpose is to honor those in the Olympic Movement who are taking concrete steps to address the climate crisis. More than 70 applications were ...
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ArticleAdidas welcomes Messi to Miami, expands youth football initiatives
On July 19, Adidas welcomed Lionel Messi to Miami, celebrating the Argentine star’s arrival in North America ahead of his first game for Inter Miami CF on July 21. A number of Adidas-branded vehicles, including a cargo ship, boats and helicopters, passed through the Port of Miami and were dressed ...
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ArticleThule reports best-ever gross margin, higher cash flow from ops
Despite experiencing lower profitability and sales in Q2, Thule Group generated a record quarterly gross margin and a 47 percent increase in cash flow from operations as the Swedish company continued to prepare for new product introductions over the next 18 months. Sales for the three months ended June ...
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ArticleEurope’s one pickleball firm sets out to conquer America
Back in 2020, amid the lockdowns, Xiana López discovered through a market study that Europe had yet to produce a pure player in the pickleball business, despite the buzz floating over the pond from the U.S. There were pádel and tennis brands selling pickleball racquets, but none that would develop ...
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ArticleVölkl exits pádel market
Völkl is getting out of the pádel market and refocusing on tennis, as the German brand’s sales director for racquet sports in Spain, Héctor García, told CMDsport. The reversal, he observes, is enabling Völkl to evade some of pádel’s present-day turmoil. “This is not the time to enter” that market. ...
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ArticleNike presents “What The Football” campaign to kick off FIFA Women’s
Ahead of the FIFA Women’s World Cup™ (July 20-August 20, 2023), Nike has unveiled the “What The Football” campaign, championing female soccer players from around the world who are changing the game and inspiring the world through the power of sport. The campaign, which features 11 top ...
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ArticleFormer Nike distributor in Russia launches multibrand retail chain
Russian retail company Inventive Retail Group plans to launch a new network, Amazing Red, to sell sporting goods of multiple Western brands. Tikhon Smykov, president of Inventive Retail Group, told the local press that the company intends to launch 100 outlets under a new banner in the ...
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ArticleRussian sporting goods retailers Lestate and Sportmaster launch private label lines
Russian sporting goods company Lestate has submitted an application to the state patent agency Rospatent to register its own brand Rank. At the same time, the Russian largest sporting goods retailer rolled out plans to register the third line of sporting goods under the Athlex brand. Goods under the Rank ...
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ArticleAdidas partners with scientific project: Biopolymers from algae for textiles
The textiles of the future are “bio-based”. This is the conviction behind the BIOTEXFUTURE Innovation Space – a concept funded by the German Federal Ministry of Education and Research as part of the transformation to a bio-based economy. A central role in this innovation space is played by the German ...
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ArticleSpanish market could break €9bn next year, says Afydad
Retail revenues (sell-out) for the Spanish sporting goods industry continued its march toward the €9 billion mark in 2022, reaching €8.993 billion through year-on-year growth of 4.6 percent. Things have, however, slowed down since the boom year of 2021, which offered more than twice the growth (11.1%). Last year’s wholesale ...
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ArticleXXL initiates new operating model under new CEO; reports Q2 loss
Norwegian retailer XXL ASA reported another weak quarter of results but also some progress on its initiative to develop a new operating model under CEO Freddy Sobin, who has been on the job for two-and-a-half months. The Q2 Ebitda loss was 57 million Norwegian kroner (€4.9m), which included a NOK ...
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ArticleAhead of FIFA Women’s, Adidas celebrates the game’s next-gen icons
To kick off its campaign for the FIFA Women’s World Cup™ (July 20-Aug. 20, 2023), Adidas is celebrating the next-gen stars of women’s soccer, Alessia Russo, Lena Oberdorf and Mary Fowler. Adidas’ “Play Until They Can’t Look Away” films showcase the skill and passion of some of the world’s best ...
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ArticlePádel making an approach to VR
Vista Animations and Motion Capture Barcelona have spent the past 20 months developing the first virtual reality (VR) manifestation of pádel. “At the beginning,” lead developer Sergi Anglada tells The Padel Paper, which has done a full write-up, “we didn’t know how far we could go and whether the technology ...
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ArticleSean Combs launches US e-commerce platform for black businesses
Source: Empower Global Sean “Diddy” Combs, Chariman of Combs Global US rapper, producer, entrepreneur and designer Sean “Diddy” Combs has launched Empower Global (EG), a curated e-commerce platform (for U.S. customers only) that allows consumers to discover and purchase products created and sold exclusively by black entrepreneurs, ...
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ArticleAll Good Things closes Series A financing, plans to expand UK store network
All Good Things, a UK-based independent retailer founded in 2019 selling exclusively used, torn or repaired clothing, announced that it has received a £2.5 million (€2.93m) equity investment. The funding was provided by Souter Investments in conjunction with a broad range of experienced former retail employees, including Ben Barnett (former ...
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ArticleFESI responds to EU’s ESPR proposal with key concern
The Federation of European Sporting Goods Industry (FESI) has welcomed the EU Parliament’s July 12 adoption of the report on the European Parliament’s Ecodesign for Sustainable Product Regulation (ESPR) proposal. However, it has raised concerns over elements concerning the destruction of unsold goods and how reporting requirements will affect safeguarding ...
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ArticleA “courtside” look at the pádel market
Sales have been flat so far this year at Padel Courts Deluxe, CEO Fernando Cánovas tells CMDsport. Now that mid-year is behind us, moreover, he believes it safe to say that 2023 will be a year of transition in the pádel-court business, with growth picking up once more in the ...
