More about brands – Page 126
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News briefs
Alibaba enjoys record Singles Day, but its market cap drops
This year’s Singles Day raked in a gross merchandise volume (GMV) of 498.2 billion yuan (€63.67bn-$75.19bn) for Alibaba up sharply from the RMB 268.4 billion reported a year ago. The rival Chinese e-tailer Jd.com had sales of about ¥271.5 billion (€34.71bn-$40.99bn). Lasting 11 days this year, Alibaba’s Chinese sales festival ...
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ArticleEU estimates that Amazon broke competition rules
The European Commission believes that Amazon violated competition rules by unfairly benefiting from non-public data on independent sellers who use its marketplace, it said in its preliminary findings from an antitrust investigation it has been conducting against the American e-commerce giant since last year. The European Union’s executive body added ...
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News briefs
Peloton partners with Beyoncé
Peloton, the interactive fitness platform, has announced a new multi-year partnership with Beyoncé for the creation of a series of exercise classes “rooted in music.” Beyoncé is the most requested artist by Peloton’s global community of more than 3.6 million members, Peloton said. The pair have created themed workout classes ...
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News briefs
Moncler adopts a composite fabric for its latest skiwear
Moncler has incorporated a breathable, lightweight, waterproof composite fabric called Dyneema into its new, functional Grenoble skiwear collection for autumn/winter 2020. Produced by Royal DSM, Dyneema is purportedly the world’s strongest and lightest fiber – both 15 times stronger than steel and less dense than water. In other words, it ...
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News briefs
Decathlon launches self-checkout lanes in Russia
Decathlon has introduced its first self-checkout lanes in Russia at its Altufyevo store in Moscow and plans to expand the use of the system to other locations. The company has already installed its “Scan & Go” system, which allows customers to scan the items and to pay for them with ...
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News briefs
Fast-growing Fila rebuilds its DACH sales organization
Medico Sports Fashion, the German sub-licensee of Fila for Continental Europe, has reorganized its sales structure for the DACH region, with the goal to help establish Fila among the top five sports brands in Europe. It says that Fila has achieved annual retail sales in the “upper three-digit-million-euro range” in ...
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ArticleDigitalization helps Adidas to recover
The Adidas Group made a strong recovery in the third quarter, approaching a normalization of its business, thanks largely to a 51 percent boost in e-commerce, coupled with a more a selective distribution policy. Mentioning its close relations with JD Sports Fashion and Zalando as examples, down to inventory sharing, ...
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News briefs
Rapha partners with Bang & Olufsen on indoor training earphones
Rapha, the cycling clothing brand, is launching a set of wireless earphones for sports in collaboration with Bang & Olufsen. The Beoplay E8 Sport earphones are said to offer above-average sound quality, consistent with Bang & Olufsen’s renowned audio quality. They feature a one-finger touch interface to play music, skip ...
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News briefs
Technogym launches the 2020 Let’s Move Week
Technogym has announced the 2020 Let’s Move Week, a week-long campaign to promote physical exercise. The campaign will run both online and offline from Nov. 9 to 15. People can join the campaign from home or anywhere online, or from a fitness club that has joined the initiative. Every day, ...
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News briefsIIC elects Intersport Germany’s CEO to its management board
Intersport International Corporation (IIC) has elected Alexander von Preen, chief executive of Intersport Germany, to its management board with a unanimous vote. Von Preen’s term extends to the annual general meeting in 2023. Intersport Germany has been absent of late from the management board due to the recent resignation of ...
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News briefs
Adidas releases a collection with F***ing Awesome
Adidas Skateboarding has released a collection with F***ing Awesome, a brand of gear and apparel for skaters. Designed by the skate brand’s co-founder, Jason Dill, the collection is described as a “dual-season apparel and footwear concept series.” Installment One – consisting of a Taekwondo outfit, coveralls, a jersey set, technical ...
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ArticleVF acquires Supreme
VF Corp. has announced a definitive agreement to acquire Supreme, a young and cool American streetwear brand that has become an iconic symbol of a countercultural approach to fashion. Details have yet to be finalized, but the $2.1 billion transaction is expected to close before the end of 2020. Investors ...
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Article
Asics improves in Q3, but warns about second Covid wave
Asics reported better-than-expected third-quarter sales and revised upward its forecasts for the full year, but warned that fourth-quarter sales would take a hit from the second wave of the Covid-19 pandemic. Net sales rose by 4.39 percent to 103,309 million yen (€829m-$979m) in the third quarter as more people took ...
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Article
GoPro swings to a profit
The American action camera specialist managed to post a profit for the third quarter thanks to a more intense direct-to-consumer (DTC) approach and strong sales of new products, which helped boost total revenues by 114 percent to $280.51 million. Analysts expected revenues of $234.5 million. GoPro’s net income for the ...
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Article
Deckers Brands highlights CSR goals and achievements in a new report
Deckers Brands has released its Creating Change FY20 Corporate Responsibility and Sustainability Report, in which the group highlights its achievements toward its sustainable development goals during the reporting year from Apr. 1, 2019 to March 31, 2020. Deckers owns a portfolio of footwear, apparel and accessories brands for casual lifestyle ...
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Article
Better-than-expected results for Wolverine
Although they were down on last year’s third quarter, Wolverine Worldwide posted better-than-expected sales in the three months to Sept.26, led by double-digit growth from Saucony and Chaco. The impact of coronavirus-related restrictive measures on retail was partly offset by a growth of 56.4 percent in the group’s own e-commerce ...
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Article
An unexpected profit for Canada Goose
Thanks to strong demand from China, Canada Goose posted an unexpected profit in the second fiscal quarter. After posting heavy losses in the first quarter, it has now returned to profits with a net income of 10.4 million Canadian dollars (€6.7-$8.0m) for the three months of its second quarter ...
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Article
Higher prices boost Fitbit’s sales and margins
Fitbit reported revenues for the third quarter that rose by 5 percent from the year-ago quarter to $363.9 million, driven by higher average selling prices. The net loss grew slightly to $54.5 million on a GAAP accounting basis, but it declined sharply on a non-GAAP basis to $8.3 million from ...
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News briefs
Decathlon strikes a green-energy deal
Decathlon France has signed a long-term deal with Voltalia to purchase renewable electricity from a dedicated solar farm. The farm will be funded and built by the international green-energy specialist company in southeastern France and should commence operation by 2023. Decathlon will be taking some 16 megawatts of a total ...
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News briefsInspecs extends eyewear license deal with O’Neill
Inspecs, a major U.K.-based eyewear supplier that recently went public, has agreed a new “long-term” license agreement for eyewear with O’Neill, the international surf and snowwear brand. The companies have been working together since 2013 and no further details on the length of the renewal were released. As part of ...
