Latest Headlines – Page 471
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Lotto Re-launches In China With A Joint Venture
Lotto hopes to achieve $15 million in sales in China this year, rising to $100 million by 2010, through a new joint venture with Scienward International, a Hong Kong-based sister firm of a Chinese company that has been making apparel for Lotto for seven-years. Scienward already has a joint venture ...
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Under Armour Sets Up A European Office
Under Armour, the fast-growing U.S. company specializing in high-performance sports apparel, is opening European headquarters in Amsterdam to steer its onslaught on the European market. The operation will be led by Ryan Wood, partner and sales manager of the U.S. company, who was appointed as president of international sales. Mark ...
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New Eurochief For Gbmi
Roelof de Leeuw is heading up the newly-created European operations of GBMI, the American group that owns Pony and licenses a flurry of shoe brands including Diesel and Nautica. The move is intended to spread distribution of these brands throughout Europe and to gradually set up sales offices or full-fledged ...
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Gaastra Will Go Private
The management of McGregor Fashion Group, the Dutch company that owns Gaastra Sportswear, is mulling a tender offer that would delist the group from the Euronext stock exchange, while investing more forcefully in international expansion. The bid has been supported by McGregor’s board, and it is likely to be launched ...
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Russell Eliminates 2,300 Jobs
The American company hopes to save $22-26 million annually after taxes with a restructuring plan that will cut 2,300 positions globally and shift more of its domestic production to other countries. The move will involve extraordinary expenses of $45-52 million after taxes, half of which will be charged to the ...
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Stride Rite Absorbs Saucony, Anticipates Europe Expansion
Saucony, whose Hurricane 8 running shoe was selected as «editor’s choice» in Runner’s World’s upcoming footwear review, is leading the brand’s new owner, Stride Ride Corp., to focus its attention on Europe, which represents a large portion of Saucony’s annual sales of $150 million in athletic footwear. Because of the ...
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B&B Scores It Big, Pitti Uomo Less
The Jan. 18-20 session of Bread & Butter in Barcelona was a big success, registering a total of 48,000 passages through the gates as compared to 45,000 for the first event in the city last July. Visitors from Spain and Portugal represented 37 percent of total attendance, followed by the ...
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The Sporting Goods Stocks Grew By 23.9% In 2005
Their performance was better than that of the equity market in general, with Asian and European stocks outperforming North American companies. The stock market capitalization of American sporting goods firms, which dominate the publicly quoted industry, registered a combined 14.1 percent increase in 2005. However, European stocks grew by a ...
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New Management Structure For Adidas And Reebok
Erich Stamminger, Adidas-Salomon’s current executive board member in charge of global marketing, is appointed to the newly created position of president of the Adidas brand. Paul Harrington, a member of Reebok International’s top management, is named as president of the Reebok brand, while another American, Mark King, remains in charge ...
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Gresvig Takes Over Voice
An extraordinary meeting of shareholders will decide on Jan. 27 on Gresvig’s acquisition of Voice Norge, a chain of apparel boutiques that represents about 6 percent of the total Norwegian clothing market, and its holding company, O.N. Sunde. The takeover will follow the recent acquisition of a 52 percent stake ...
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Intersport Predicts A 5% Sales Increase In Germany
Karstadt and many other German retailers have reported on a relatively good Christmas selling season across all product categories, indicating a possible turnaround in the country’s depressed market situation. In its usual meeting with the press before Christmas, the management of Intersport Deutschland confirmed this trend, mentioning an 8 percent ...
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Jjb Sports Hopes For Better Results
JJB Sports warned investors last week that its pre-tax profits for the financial year ending Jan. 29 will fall below market expectations, ranging between £32 million (€47m-$53m) and £36 million (€57m-$64m), after a “disappointing performance” in the 22 weeks ended Jan. 1, where its gross margin declined by 320 basis ...
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Decathlon Has A New Country Manager For The Usa
Juan-Luis Betancourt has become Décathlon’s new country manager in the USA, a country where the world’s second-largest sporting goods retailer is still struggling. Sales at its four remaining U.S. stores have been rising sharply in recent months, following the certification of many of its private label products, but while consumers ...
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Npd Panel Shows Older People Spend More On Sporting Goods
The deflationary trend in the European market for sports clothing and footwear continued during the 12-month period ended last Sept. 30, according to the quarterly audit of NPD Sports Tracking Europe. Average prices declined by 2 percent in sports footwear and by around 5 percent in sports and leisure apparel ...
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Chausport Goes Lifestyle, Plans More Apparel
Chausport, the French sports shoe retailer, is mooting an overhaul of its store concept to avoid head-on competition with larger specialist chains such as Courir or Foot Locker. After a management reshuffle and a strategic rethink last year, it has opened a pilot store in Amiens last month, adopting a ...
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New Controlling Shareholder For Kneissl
Fritz Unterberger, the biggest car dealer in the Tyrol region; has acquired a majority stake of 70 percent in Kneissl, the small ski company in Kufstein. The remaining 30 percent is in the hands of Fritz Obholzer, an auditor and tax advisor in the city. The two local entrepreneurs have ...
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Cercley Becomes Coleman’S Eurochief
Bruno Cercley, the 46-year-old French executive who left as president and CEO of the Rossignol Group following its recent takeover by Quiksilver, is rebounding as president of Coleman EMEA, the subsidiary of Coleman Group responsible for Europe, the Middle East and Africa based in Lyon. He replaces Alain Brunelle, who ...
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Low Margins Hurt Ashworth, Which May Be Up For Sale
Ashworth says it continues to explore strategic alternatives and options, including the sale of the company, acting through the U.S. investment bank of Houlihan, Lokey, Howard & Zukin. One of its major shareholders, Discovery Equity Partners, has suggested that a sale of the California-based golf apparel company could yield $168 ...
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Sgma Stops The Super Show
SGMA International, the U.S. sporting goods manufacturers’ association, has decided to kill The Super Show after its next session in Orlando, Florida later this month. Starting in 2007, it will be replaced by smaller events in Las Vegas in June and somewhere on the U.S. East Coast in October. SGMA ...
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Italy’S Fitness Festival Moves To Florence
Between next May 24 and May 28, tourists visiting Florence and the local people will be able to “attack the fortress” in the middle of the city, climbing by rope over its medieval walls, to win a free entry into the Fitness Festival, Europe’s largest sports fest, taking home a ...
