More about brands – Page 62
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News briefs
Anta’s family shareholders transfer shares to a foundation
The Ding family, which controls the Anta Sports group, had transferred 84.5 million shares in the company, representing about 3.16 percent of the equity, to a new charity, the Hemin Foundation. Based on the group’s recent stock price, the endowment is worth around $1.2 billion. The foundation intends to “collaborate ...
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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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News briefsCalida’s Millet Mountain Group returns to the founding family
In an announcement made on Dec. 24, the Swiss-based Calida Group said it received a binding offer from Jean-Pierre Millet, together with Inspiring Sport Capital, for their takeover of the French-based Millet Mountain Group, which includes the Millet and Lafuma Outdoor brands. Jean-Pierre Millet is a grandson of one of ...
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News briefs
Skechers shrinks its board of directors
Skechers has reduced the size of its board of directors to seven members, following the resignation of four current members and the addition of a new one, Zulema Garcia, who will serve on the company’s audit committee. Garcia spent 24 years at KPMG before joining Herbalife Nutrition as senior vice ...
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News briefsPrada partners with the new Aspenx brand for skiwear
Prada has partnered with Aspenx on a six-piece capsule collection of high-end skiwear for men and women. Aspenx describes itself as a contemporary retail and experience brand. It has just been launched by the Aspen Skiing Company, which owns and operates the Aspen Snowmass mountain resort facilities and The Little ...
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News briefs
Joma launches its own padel racquet
The growing popularity of padel tennis, where Spain remains the leader, has led Joma Sport to add padel racquets to the product ranges of its various brands. Joma presented its new racquet at a special international event during the finals of the World Padel Tour Master, for which the brand ...
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News briefs
UA releases its first NFTs
Like Nike and Adidas before it, Under Armour is embracing non-fungible tokens (NFTs). The American sportswear company has released 2,974 of them, each a digital replica of the Genesis Curry Flow shoe that Steph Curry was wearing on Dec. 14, when he broke the NBA’s record for total three-point shots. ...
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Article
Ambitious new targets for Slinger
Slinger, the company that introduced the portable Slinger Bag for tennis balls in 2019, is targeting sales of $17 to $18 million for the financial year ending in April from this product, to the exclusion of recent acquisitions, representing year-on-year growth of between 57 and 67 percent. It expects to ...
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News briefsArc’teryx launches first winter edition of its academies in Europe
Arc’teryx is already well known in Europe for its yearly summer Alpine Academy event in Chamonix. It is now launching for the first time a series of winter events in Europe, called Arc’teryx Academy, From Feb. 18 to 20, the “Arc’teryx Academy: freeride” premiere will be held in St. Anton, ...
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News briefsOberalp Group acquires manufacturer of raw material for ski touring skins
The Oberalp Group has announced the acquisition of Velotex from Pongs Velours. Velotex specializes in the production of mohair velvet, which is an essential product for ski touring skins, and other products for skiing. The closing of the transaction is scheduled for Jan. 1, 2022. The takeover allows Oberalp to ...
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ArticleNike beats Q2 estimates on strong North American showing
The Nike group reported higher-than-expected earnings and sales in the second quarter ended Nov. 30, as a strong performance in North America offset a continued slowdown in China and persistent, industry-wide supply chain challenges. In the quarter, Nike’s sales inched up by one percent to $11,357 million and were flat ...
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Article
Samurai is “pushing forward” beyond rugby
Capitalizing on the growing popularity of rugby and inspired by its values, Samurai is broadening the range of its apparel collections from teamwear into the wider lifestyle and athleisure sectors to address a wider community of consumers. It’s going to do this with a lot of story-telling on social media ...
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Article
Moody’s upgrades Under Armour’s rating, pointing to opportunities outside North America
In May, Moody’s had upgraded its financial outlook for Under Armour from negative to positive and improved other metrics, considering that its turnaround had been successful. This time, it upgraded its debt ratings further following better-than-expected recent increases in sales and earnings. Moody’s again praised Under Armour for the significant ...
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News briefs
Hanesbrands signs licensing deal with Wake Forest
Hanesbrands – along with its Champion and Hanes brands and its alternative apparel propositions – has signed a licensing deal with Wake Forest University, addressing its fans. However, Nike retains the exclusive contract with the U.S. university, based in Winston-Salem, for team, coach and staff uniforms and will continue ...
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News briefsMIPS moves up to Nasdaq Stockholm’s Large Cap segment
Following Nasdaq’s annual review of the market capitalization of listed companies, Mips AB, which is well known for its innovative helmet technology BPS (stands for “Brain Protection System”), is moving up from the Mid Cap to the Large Cap segment of Nasdaq Stockholm. The move will be effective on Jan ...
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ArticleAdidas releases its first NFT collection
As we reported earlier this month, Adidas has struck deals with three producers of non-fungible tokens (NFTs) on the Ethereum blockchain: Bored Ape Yacht Club (BAYC), gmoney and PUNKS comic. The fruit of those initiatives, a first collection of NFTs under the Adidas Originals brand of lifestyle products is slated ...
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News briefs
Aqua-Leisure buys Airhead to trigger synergies and to expand
The Airhead Sports Group, a company based in Denver, Colorado that has dealers in nearly 80 different countries, has become the property of Aqua-Leisure Recreation, another U.S. watersports equipment company based in Avon, Massachusetts. The goal is to implement synergies in R&D, sourcing and distribution. Airhead sells a variety of ...
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News briefs
Skechers extends and expands its credit facility
After booking record results for the third quarter, Skechers has expanded its senior unsecured credit facility from $500 million to $750 million, extending its maturity date from November 2024 to December 2025. It will retain a $250 million accordion feature that allows the company up to $1 billion worth of ...
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News briefs
Nitro and Burton sign licensing deal for boots
Nitro Snowboards has entered a licensing partnership with Burton Snowboards for boots compatible with the latter’s Step On binding platform. Nitro’s co-founder and president, Thomas Delago, says that the company has signed on to the partnership to prevent “confusion” and “unwanted stock” in the market. Settling on one platform will ...
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News briefs
Nike reviews its advertising agencies
Nike is conducting a six-month review of its media agencies, covering an annual advertising budget of about $1 billion, according to a report in AdAge citing sources close to the matter. In addition to Wieden+Kennedy, the long-time primary media agency that created “Just Do It” and many other iconic campaigns ...
