More corporate news – Page 19
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Article
Swedish e-tailer Ridestore nears SEK 1 billion in sales
According to an article on ehandel.se, Swedish e-tailer Ridestore reported sales of just over SEK 1 billion (€90.8m) in its latest financial statements for 2021/2022, including currency exchange gains. Excluding, earnings were SEK 975 million (€87.6m), solid growth from SEK 600 million (€53.9m) the previous year. The privately held company ...
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News briefs
L.A. gets first pro pádel franchise
EEP Capital, which describes itself as the first venture-capital fund devoted to the sport, has purchased the first pádel franchise in Los Angeles. The team will be playing within the Pro Padel League, the professional league in the U.S. EEP Capital is tied to and shares management with EE Padel ...
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News briefs
Go Sport with new managing director
About two weeks before the Grenoble Commercial Court was expected to rule on the possible insolvency of Go Sport, based in Sassenage in the French Isère department, its parent company Hermione, People & Brands (HPB) announced that Patrick Puy was appointed as its new general manager, effective Jan. 4. The ...
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News briefs
Peloton offers refurbished bikes in North America
As of Dec. 26, Peloton Interactive began offering refurbished bicycles in the U.S. and Canada at a discount of up to $500 over new bicycles. The program, called Peloton Certified Refurbished, offers models priced from $1,145 (refurbished Peloton Bike) and $1,995 (refurbished Peloton Bike+). According to the company, each refurbished ...
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C-Suite Interview
Motoi Oyama: “Asics’ challenge now is to set up our running ecosystem”
We sat down with Motoi Oyama, chairman and director of Asics Corporation to talk about the strategy and the economic situation of the company. His years of global experiences were seen in every answer.
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News briefs
XXL raises capital, warns of lower margins and exits Austria in 2023
Norwegian sporting goods chain XXL warns that lower margins will cut into Q4 profits and has decided to launch a NOK 500 million (€47.9m) targeted share issue. The largest owner Altor, led by XXL chairman Hugo Maurstad, has committed to a NOK 119 million (€11.4m) contribution. The capital from the ...
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News briefs
Pangaia receives B Corp certification
London-based material science brand Pangaia has received B Corp certification, scoring 84.5 points in the assessment. Administered by the non-profit organization B Lab, the B Corp certification assesses a brand’s social and environmental impact. By obtaining the certification, Pangaea joins a community of 6,058 companies worldwide. More than 1,000 companies ...
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News briefs
New Balance plans $65 million investment to double production capacity in Maine
New Balance has announced a $65 million investment in construction and capital equipment in its Skowhegan, Maine factory, with a view to double production capacity and add over 200 new jobs to the facility, Footwear News has reported. The factory currently employs 250 people. The investment will allow the renovation ...
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Case Study
Why Allbirds has been unable to sustain its early stock market success
Allbirds, the sustainable footwear company, smashed predictions in its IPO twelve months ago. Now the brand is struggling to entice investors.
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Article
Former head of Yeezy-Adidas innovation lab launches FCTRY LAb with $6 million fundraising
Former Yeezy-Adidas Innovation Lab head Omar Bailey and Abhishek Som, a former Wall Street and private equity executive, have co-founded FCTRY LAb, a BIPOC-led, Los Angeles-based footwear prototyping lab and venture studio that aims “to democratize sneaker production and open-source innovation for emerging and established designers and brands of all ...
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News briefs
Sport 2000 runs employer branding campaign to support retail recruitment efforts
Enhancing the attractivity of jobs in sports retail is the goal of the current cross-country employer branding efforts of Sport 2000, run in Germany, Austria and the Netherlands. With advertisements, a social media campaign and selected tools and assets like the locally held ”Junior Sales Champion” competition offered to its ...
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News briefs
Zenkai Sports raises $1 million from strategic investors
Portland, Oregon-based natural and sustainable performance apparel brand Zenkai Sports announced the closing of a $1 million funding round to drive growth and product development. Founded by former professional field hockey player Doug Lynch and 40-year apparel industry veterans Raj and Akhil Shah, Zenkai’s eco-friendly apparel supports both performance and ...
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News briefs
Serena Williams launches Will Perform
Former pro tennis player Serena Williams is the co-founder of Will Perform, a new brand of topical products for pain relief and muscle care designed for fitness lovers and the specific recovery needs of athletes. Williams partnered with Hank Mercier, who will serve as CEO, and Eric Ryan to co-found ...
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Article
Wolverine Worldwide announces divestitures, staff cuts
Driven by a focus on increasing long-term shareholder value, Wolverine Worldwide is divesting or licensing its Keds brand and Wolverine leather business segments and is initiating an unspecified headcount reduction. The staff cuts are projected to result in approximately $30 million in savings for the company in 2023, and the ...
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News briefs
International Ski and Snowboard Federation takes over the Freeride World Tour
With immediate effect, the Freeride World Tour (FWT) is merging with the International Ski and Snowboard Federation (FIS), which is taking over the shares of the FWT. The two organizations will work together from the 2022/23 season. The FIS, founded in 1924, is recognized by the International Olympic Committee (IOC), ...
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News briefs
Fanatics raises close to $700 million, hits $31 billion valuation
In a new investment round, sports merchandise giant Fanatics Inc. has raised roughly $700 million, most of it from parties that had not previously invested in the company. According to various accounts in the business news media, among those new investors are private-equity firm Clearlake Capital Group LP, which led ...
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News briefs
Metabolism measurement technology provider Lumen raises $62m
Source: Lumen Israeli company Lumen, founded in 2014, has raised $62 million in a Series B funding round led by Pitango Growth. Participating investors include Hanwha Group, Resolute Ventures, RiverPark Ventures, Unorthodox Ventures, Almeda Capital and Disruptive VC. Lumen focuses on a handheld device and a connected ...
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News briefs
Anta weighing up an IPO of Amer Sports
Anta Sports is considering an initial public offering (IPO) of Amer Sports, Bloomberg has reported, drawing its information from people familiar with the matter who asked not to be identified. Amer Sports includes brands like Wilson, Arc’teryx, Salomon and Atomic. The company and its co-investors are currently holding preliminary negotiations ...
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News briefs
Keller Sports opens insolvency proceedings, business operations continue
The German Keller Group – umbrella company of Keller Sports, Keller X, Keller Premium and Keller Smiles – has filed for insolvency proceedings in self-administration at the Munich District Court, according to German trade magazine TextilWirtschaft. The main reasons cited are the supply chain crisis and the significant deterioration in ...
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News briefs
Italian sports shoes maker M.G.M. acquires Gruppo Rekord
Italian footwear manufacturer M.G.M. S.p.A. has acquired Gruppo Rekord, a producer of high-end sneakers and outdoor shoes. M.G.M. has been on the market for over 35 years in the segment of mountain and outdoor sports footwear, as well as roller skating, with distribution all over the world. M.G.N.’s brand portfolio ...