Latest Headlines – Page 393
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Asics Takes Over The Distribution In Scandinavia
After establishing its own sales subsidiaries in Poland and Russia, Asics has agreed to acquire 100 percent control of Asics Scandinavia, the company that is covering the Norwegian, Swedish and Danish markets for the brand, starting next July. The Japanese company is paying the equivalent of €23 million for the ...
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Possibly Unfounded Tax Scandal Around Adidas
Adidas firmly dismissed reports that it has been targeted by French investigations into the suspected laundering of money issued from tax evasion through bank accounts in Liechtenstein. A spokeswoman for the public prosecutor in Paris confirmed that it was looking into such alleged wrongdoings but that they did not concern ...
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Movement Around Le Coq
Antoine Sathicq, former general manager of Adidas France and Le Coq Sportif, will become general manager of Mercure International, a small conglomerate based in Monte-Carlo that deals with food, sports and fashion retailing. Sathicq abruptly left Le Coq over strategic divergences last year and he will move to Monaco to ...
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Jjb Sports Wants To Make Peace With Its Landlords
JJB Sports, the troubled British sports retailer, has finalized its proposals for a company voluntary arrangement (CVA) allowing for payments to be made to some of its creditors. One major provision compromises the claims of landlords of about 140 closed stores, and allows for monthly rent payments to the landlords ...
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Dutch Company Buys Stake In Mistral
Van Merksteijn International, a Dutch manufacturer of steel-based products, has acquired a majority stake in Mistral International BV, the owner of the wind-surfing brand. Mistral International BV was set up last year as a joint venture between Ado Huysman, a well-known Dutch investor in the sports business, and Boards & ...
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Vf Places Vans And Reef Under Common Management In Europe
The move mirrors a similar process that took place earlier this year in the Americas, with the former global brand director of Vans, Steve Murray, taking responsibility for both brands in connection with the establishment of the new Action Sports Coalition of VF Corporation. The new vice president ...
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Outoor Sales Give Hi-tec A Big Boost
Hi-Tec has opened a new showroom in Kendal, in the heart of Britain’s Lake District, to better serve customers in that prime hiking area of the country, and it is launching a major advertising campaign to promote its new award-winning Ion Mask technology in the U.K.. The new ...
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Geox Launches Its Line Of Golf Shoes
Geox has announced the formal launch of its new range of golf shoes, which has gone a little better than expected according to company officials, who declined to provide the number of pairs for the first season. The line is slightly lower-priced than that of Ecco. Coordinated by Per ...
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Chinese Investor Focuses On Sergio Tacchini
Billy Ngok, the Hong Kong businessman who runs Hembley International Holding, is cutting down on his other investments in the Italian fashion sector and concentrating on the sportswear brand Sergio Tacchini, which he bought in June 2008 out of bankruptcy proceedings. He is selling off the 50 percent stake he ...
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Heelys’ Sales Spike In 4th Quarter, But Plunge For The Year
Suddenly reversing a serious downward trend, the wheeled-footwear company enjoyed a 59.2 percent jump in net sales to $15.6 million for the quarter ended Dec. 31. This helped narrow Heelys’ net loss to $5.24 million for the latest quarter from $5.92 million for the same period in 2007. ...
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Crocs Redeems Employees' Shares
Crocs announced last Thursday that it would buy out the stock options taken by its employees with an exercise price of $10.50 a share or more. Assuming that all of the just over 5 million unvested eligible options are tendered and accepted, the company will spend about $315,000 in cash ...
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Europe Launches A Bigger Program To Combat Counterfeiting
The Council of the European Union in Brussels adopted last month a new customs action plan against counterfeiting for 2009-12. It has two main aims: the protection of the health and safety of consumers, and the protection of innovation, economic activity, competitiveness and jobs. The council has four major foci ...
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Organic Cotton Still A Booming Business
Sales of apparel and home textiles made from organic cotton soared by 63 percent worldwide in 2008, rising to $3.2 billion. Organic cotton is made without toxic and persistent pesticides and fertilizers to maintain soil fertility and does not use genetically modified seeds. The Organic Exchange released the ...
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Dorel Moves Its Bicycle Business Around
As part of a reorganization of its bicycle business that save about $4 million a year, Dorel Industries plans to consolidate its North American product development, marketing and business management in Connecticut for all four of its bike brands: Cannondale, Schwinn, GT and Mongoose. The plan for new unit, to ...
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Taiwan's Bike A-team Upgrades Further
The Taiwanese bike industry grouping known as the A-Team said the members’ exports grew by only 1.25 percent in volume last year, but the total export value jumped by 32 percent. At its annual general meeting, held during the Taipei International Cycle show on March 18, the chairman of the ...
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Rossignol Will Axe 30% Of Its Staff
Rossignol Group's new management, run by Bruno Cercley since last November, announced today an “unavoidable” reorganization plan involving the elimination of about 30 percent of the jobs within its global staff of around 1,550 employees, including 275 of its 870 employees in France. Denying recent rumors, however, Cercley said that ...
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Whelan Buys Jjb’S Fitness Centers, Saving It From Bankruptcy
Dave Whelan, founder of JJB Sports, has bought the company’s gym business for about £83.4 million (€89.5m-$121.4m) through his company Dave Whelan Sports Ltd.. Whelan, who sold his stake in JJB Sports in 2007, said he will rename the chain of fitness clubs DW Fitness. The scope of ...
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No Change Of Ownership At Blacks
Blacks Leisure Group announced yesterday that it had ended discussions with an unnamed investor who had made an approach in this regard. The investor is widely rumored to be Mike Ashley, major shareholder of Sports Direct International, which already has a a stake of about 29 percent in Blacks. According ...
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Intersport Runs A Huge Running Campaign After A Good Winter, Signs Up With Om
Riding on the wave of an excellent winter selling season, Intersport is trying to enhance competence, consultation and to boost spring sales at affiliated stores with the biggest pan-European campaign it has ever launched, focusing on running. Officials of Intersport International would not disclose its promotional budget, shared with Adidas ...
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The French Market Fell By 0.5% In 2008
After a 2 percent increase in 2007, the French sporting goods market suffered a slight 0.5 percent decline to €9.1 billion after VAT in 2008, but specialty retailers saw their sales grow by 1.4 percent to around €7 billion, further improving their share of the total market to 77 percent. ...
