Latest Headlines – Page 98
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FIS sets up new working groups and an office in Beijing
The International Ski Federation (FIS) has opened a 400-square-meter liason office in Beijing, following the formation of a China Working Group at a recent meeting of the FIS Council, led by one of the council’s members, Moses Liang-Cheng Zheng. The announcement was made at a Chinese National Snow Sports press ...
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Teyssier becomes Puma’s general manager for Europe
Puma has appointed a new general manager for Europe, Richard Teyssier, effective from Sept. 1, taking over many of the functions of Arne Freundt, who joined the executive board as chief commercial officer of the company in June. Teyssier, 53, has served as area general manager for Puma France since ...
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ArticleVollebak introduces sweaters made from old bulletproof vests and firefighting gear
Vollebak, a five-year-old British brand of sustainable men’s sports and adventure wear, is launching a line of sweaters made from old bulletproof vests and firefighter suits. The Garbage Sweater is made from 70 percent recycled meta-aramid and 30 percent recycled para-aramid fibers. Firefighter suits are typically made of meta-aramid, which ...
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ArticleNew anglers help Rapala reel in strong H1 sales rise
Rapala VMC, the Finnish-based fishing tackle company, reported a sharp rise in first-half sales, driven by strong demand for fishing gear from new anglers as a Covid-safe activity. Sales for the six months to June 30 increased by 36 percent to €159.6 million. The bottom line turned around to a ...
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Puma’s sales nearly doubled in Q2
In advance of its financial release for the second quarter ended June 30, which is scheduled for July 29, Puma announced on July 16 that it will report an operating profit (Ebit) of about €109 million for the period, compared with a loss of €115 million a year earlier, on ...
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One more step toward the sale of Go Sport
French anti-trust authorities have authorized the proposed takeover of Groupe Go Sport, one of the major sports retailers in France, by Financière Immobilière Bordelaise (FIB), a real estate-based investment fund controlled by a rich businessman in Bordeaux, Michel Ohayon, who has already acquired other retail operations in the country. Last ...
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ArticleDanish Sportmaster fit for Nordic expansion
The Russian-based Sportmaster Group says that all the financial parameters were positive last year for the Danish sporting goods retail chain by the same name, which it took over in December 2019. Declining to provide any details about the subject, it also said that Sportmaster Denmark and its management team, ...
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ArticleBetter margins but lower sales and market shares for XXL
XXL ASA saw its revenues decline by 15.5 percent in the second quarter to 2,420 million Norwegian kroner €232.6m -$274.8m), as temporary store closures due to the Covid-19 pandemic and delays in the delivery of bicycles hit its top line. On a like-for-like basis, sales were down by 13.4 percent. ...
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ArticleCovid outbreak closes major factories in Vietnam
A sudden and violent outbreak of the Covid-19 epidemic in Ho Chi Minh City (HCMC) and its environs is expected to delay shipments of sports shoes and apparel and may result in a loss orders for local manufacturers, according to the local NV Express, which cited the shutdown of 29 ...
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ArticleNike loses a legal round in Dutch tax probe
The General Court of the European Union in Luxembourg has dismissed an appeal by the Nike group against the investigation launched by the European Commission in January 2019 into the favorable tax treatment granted to the group by Dutch tax authorities to the European entities of Nike and Converse, and ...
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ArticleHow can home fitness and commercial fitness coexist?
Severely impacted by the Covid pandemic, which has led to their closure and to a boom in home fitness all over the world, fitness studios and other types of membership-based gyms are being led to establish new connections with the home fitness industry while looking for new sources of revenues. ...
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ArticleIFIT acquires the Sweat fitness platform
iFIT Health & Fitness, the leading American fitness equipment supplier formerly called Icon Health & Fitness, has acquired Sweat, an Australian-based online fitness training platform for women. According to the Wall Street Journal, which cites “people familiar with the matter,” the acquisition is preparatory to plans for an initial public ...
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ArticleSportgreen opens its first retail stores, more to follow
After launching its online platform for sustainable sports products In April 2021, Sportgreen has opened a physical flagship store of 800 square meters under the same name and with the same products in the German town of Ingelheim. The new store adds up to two smaller Sportgreen shops that were ...
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Adidas partners with Common Goal to help undeserved communities
Adidas has announced a long-term partnership with Common Goal to promote lasting social change among under-served communities and create a better and more inclusive future through football. Common Goal’s members pledge 1 percent of their earnings to a central fund, allocated to high-impact organizations that harness the power of football ...
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ArticleKlarna acquires social shopping platform Hero
Klarna, the retail banking, payments and shopping service from Sweden with over 90 million active users worldwide and 2 million transactions per day, has acquired Hero, a social shopping platform founded in 2015 and based in London and New York. The Wall Street Journal said Klarna would pay about $160 ...
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ArticleAnta unveils 5-year strategic targets and a 24-month acceleration plan
While providing another update on its results for the second quarter, Anta Sports Products announced new strategic targets that it wants to achieve over the next five years and a 24-month acceleration plan, called “Lead to Win,” for its core Anta brand. It had nothing to say at this stage ...
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TNF, Timberland and Vans get high marks for transparency
Three VF Corp brands – The North Face (TNF), Timberland and Vans - ranked high in the 2021 Fashion Transparency Index published by Fashion Revolution, a global activism movement that is pushing for greater disclosure in fashion supply chains, warning that progress in transparency in the sector generally remains ...
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Fitness companies attract new investments
The strong trend in home fitness training, particularly in its internet-connected format, has continued to attract interest from investors in start-ups and other innovative companies that seem to deserve funding to sustain their growth. In the last few days alone, we got news on financial investments in three American companies: ...
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ABG’s planned IPO triggers S&P review
Standard & Poor’s indicated that it may upgrade its debt ratings for the Authentic Brands Group (ABG) based on the amount that it will raise through its planned public offering. The credit rating agency said it expects ABG to use the proceeds to repay a portion of its debt, which ...
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Macron announces new rugby kit deals
Macron, the Italian producer of teamwear, continues to sign new sponsorship deals. While continuing to focus on football, it is expanding its footprint in the area of rugby, where it claims to have become a leader. Notably, it has signed up as the first and only sponsor of the newborn ...
