Latest Headlines – Page 84
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ArticleStockX is reportedly working on its IPO
StockX, the fast-growing auction platform for heritage sneakers and other collectibles, has started working on a public offering with Morgan Stanley and Goldman Sachs, said Bloomberg, quoting “people with knowledge of the matter.” The report, which could not be confirmed, comes a couple of months after StockX announced its first ...
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ArticleTaylorMade gets good ratings after hitting $1.4 bn in revenues
Centroid Investment Partners, the South Korean private equity company that bought TaylorMade last spring from KPS Partners, is now seeking to refinance the debt used for that transaction. Moody’s and Standard & Poor’s gave relatively favorable ratings to its refinancing plans, noting that TaylorMade’s sales continued to grow strongly last ...
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ArticleIndustry stocks dropped by 0.5% in Q4
According to SGI Europe’s quarterly study of selected public industry stocks, their average share price declined by 0.51 percent on a sequential basis in the fourth quarter, in contrast with the performance of some major stock indexes during the same quarter. The Standard & Poor’s 500 index moved up by ...
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ArticleJD again raises its profit forecast
JD Sports Fashion said it expects that its pre-tax profit for the financial year ending Jan. 29 year will reach a level of at least £875 million (€1,050m-$1,197m), well ahead of the analysts’ consensus averaging £810 million, as its sales went up by more than 10 percent on a same-store ...
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ArticleOn sees supply chain shortages ending after H1
Suppliers in Vietnam returned to full capacity in December, and various manufacturing partners are shortening the traditional Chinese New Year shutdown to help catch up with the backlog of orders, said On Running, participating for the first time in a round table discussion in the framework of the traditional ICR ...
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ArticleTradeinn logs another big rise in annual revenues
Tradeinn enjoyed a stellar year in 2020, as pandemic restrictions played to the strengths of the Spanish e-tailer’s business. The results for 2021, however, surprised even its CEO, David Martín, as he confessed to CMDsport. What Martín calls the “doping” effects of the pandemic produced a 52 percent increase in ...
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ArticleNicole Otto leaves Nike to become TNF’s new global brand president
VF Corp. has named a digital expert, Nicole Otto, as global brand president for The North Face (TNF), based in Denver, Colorado. Next June, she will succeed Steve Murray, a British-born industry veteran who will be retiring this year, as planned, returning to the U.K. Murray had been promoted from ...
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ArticleAmer Sports sells Suunto to a Chinese tech firm
Amer Sports revealed an agreement reached with a Chinese technology company, Liesheng, to sell its Finnish-based Suunto brand, which specializes in sports watches, dive computers and other precision sports instruments. Amer said the sale was in line with its strategy to focus on developing internationally recognized sporting goods brands in ...
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ArticleMojo Vision partners with sports apps
Mojo Vision, a provider of smart contact lenses based in California, has established partnerships with five connected-fitness platforms: Adidas Running, the German sportswear company’s digital-tracking division; Trailforks, a trail-mapping service for cyclists and hikers; Wearable X, provider of smart haptic fitness apparel; Slopes, an iOS, Android and Apple Watch app ...
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ArticleAlibaba tops Greenpeace’s environmental ranking among China’s e-com platforms
Greenpeace East Asia has ranked China’s largest e-commerce platforms based on their commitment to combating climate change, actions already taken, level of disclosure and steps taken to manage the marketplaces responsibly and sustainably. According to the climate activist group, Hangzhou-based e-commerce platform Alibaba, which last December pledged to become carbon ...
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ArticleSports retailers confirm 2021 recovery
As previously reported, the sporting goods market fell by an estimated 5 percent in Europe in 2020, due to the pandemic, with only 16 out of 64 leading retailers in 15 European countries reporting flat or higher figures. The year 2021 was much better, with many retailers enjoying double-digit growth ...
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Be agile, creative and consumer-centric!
In the past two years, vendors and retailers have been confronted with an unprecedented accumulation of new challenges, generally related to the Covid pandemic, that have forced them to adapt to new situations and to accelerate their transformation into more consumer-centric and responsible brands. We can mention corporate and retail ...
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ArticleNPD sees 12% growth in Europe from January to September 2021
The consumption of sports shoes and apparel went up by 12 percent overall in the five major European markets during the first nine months of 2021, according to the authoritative European consumer panel of the NPD Group. Purchases of these products grew at a double-digit rate year-on-year in each of ...
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Fanatics buys Topps, boosting its international sports collectibles business
Fanatics announced the acquisition of Topps’ sports & entertainment division, covering its worldwide online and offline business with trading cards and collectibles, in a deal said to be worth about $500 million. Topps had sales of $567 million in 2021. About 60 percent of the revenues came from the operations ...
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Reassuring investors, Crocs touts Hey Dude’s potential
As previously reported, both Moody’s and Standard & Poor’s placed Crocs’ credit rating under review after the American clog producer announced the $2.5 billion acquisition just before Christmas of Hey Dude Shoes (or Heydude), an Italian casual footwear brand that is primarily distributed in the U.S. Both agencies expect that ...
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ABG and Puma circle over the Beckhams
The Authentic Brands Group (ABG), which is in line to complete its acquisition of Reebok during the first quarter of 2022, has reportedly signed a deal to buy 55 percent of the shares in DB Ventures from David Beckham for $269 million. The company manages the former popular English football ...
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ArticleSigna and Central take over Selfridges
The Austrian-based Signa Holding group and the Thai-based Central Group believe that the department store business has a future, especially in its premium segment and with a strong online component. The two family-owned groups announced on Dec. 23 that they have each acquired a 50 percent stake in the international ...
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ArticleCrocs buys Hey Dude for $2.5 bn
Crocs has entered into a definitive agreement to acquire Hey Dude, spelled also as Heydude, a privately-owned, high-growth casual footwear brand, for $2.5 billion. Crocs estimates that the acquisition will turn it into the second-largest group of branded casual footwear, with forecast revenues approaching $4 billion in 2022, to which ...
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Alpargatas buys a sustainable sneaker brand, Rothy’s
Alpargatas is investing $475 million to buy an initial minority stake of 49.9 percent in Rothy’s, a San Francisco-based, direct-to-consumer brand of sustainable sneakers and other casual footwear similar in some ways to Allbirds, with an option to take over full ownership within four years. The Brazilian group, known for ...
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Li & Fung teams up with Maersk
Li & Fung, the leading Hong Kong-based sourcing company, and Maersk, the world’s largest container shipping company, have agreed to form a strategic partnership to offer a more comprehensive range of end-to-end global supply chain services by utilizing their respective resources. As part of the deal, Li & Fung has ...
