More corporate news – Page 24
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News briefsAllbirds lays off 3% of its employees
Allbirds, the San Francisco-based DTC footwear brand that went public in 2021, confirmed that it is laying off 23 employees. The layoffs were first posted on startup layoff portal Layoffs.fyi and then reported by SFGATE.com. “We have thoughtfully evaluated roles and processes in each department, and each market, to ensure ...
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News briefsXponential Fitness signs master franchise agreement with CycleBar for Japan
Xponential Fitness, a global franchisor of boutique fitness brands based in California, has signed a master franchise agreement in Japan for the indoor cycling brand CycleBar. The deal, signed with Xponential’s master franchisee for Club Pilates in Japan, allows the new master franchisee to license at least 30 CycleBar studios ...
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News briefsSportsArt announces worldwide fitness partnership with Accor Group
Source: SportsArt Ruben Mejia, executive vice president, SportsArt Americas SportsArt, a U.S. provider of fitness solutions, has been chosen by Astore – the French multinational hospitality company Accor Group’s procurement organization – as a global preferred vendor outfitting their fitness centers with SportsArt’s patented ECO-POWR cardio equipment. ...
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News briefsPou Sheng warns on significant H1 decline
Pou Sheng Intl., the retail subsidiary of Yue Yuen, issued a revenue and profit warning for the first half ended June 30, citing persistent Covid-related restrictions in China that impacted consumer traffic and sentiment during the six months. The group forecasts a 25 percent decline in H1 revenues to 9,865 ...
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News briefsLoans to help Pádel Nuestro expand in Sweden
Pádel Nuestro has secured two loans whose total of €2.84 million will go towards acquiring real estate, inventory and other costs associated with opening own stores in Sweden’s big cities. The group has six Swedish stores already, all of them franchises. The lender is COFIDES, public-private company combining Spanish state ...
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ArticleAdidas cuts FY 2022 guidance on China weakness and potential slowdown in other markets
Adidas has adjusted its top line 2022 guidance due to a worsening outlook for its Greater China business. While second-quarter 2022 results slightly exceeded expectations, given continued strong momentum in Western markets and a return to growth in Asia-Pacific, the company has reported a slower-than-expected recovery in China since the ...
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News briefsPeloton announces corporate wellness program
Peloton announced the expansion of its Peloton Corporate Wellness program, unveiled in June 2021, through which Peloton content or connected fitness products can be offered to companies and organizations in the U.S., U.K., Canada and Germany, with Australia joining later this year. The offering makes all Peloton experiences available to ...
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ArticleAlibaba seeks initial listing on Hong Kong Stock Exchange, maintains listing on NYSE
Alibaba’s board has authorized the management to apply for an initial listing on the Main Board of the HKSE while also remaining listed in New York.
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News briefsGym+Coffee closes financing round and raises €17 million to grow internationally
Irish athleisure clothing and accessories brand Gym+Coffee has closed a funding round, raising a €17 million investment by CastleGate Investments, led by Roy Barrett and Tommy Kelly, alongside California investment and marketing firm West Ventures. According to the Irish newspaper Independent.ie, Castlegate is headed by former Goodbody Stockbrokers managing director ...
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News briefsRenewed speculations about an Athleta spin-off from Gap
A recent report by Forbes has suggested, based on a comment by a Credit Suisse analyst, that the chances for an Athleta spin-off have risen “significantly” following the departure of Sonia Syngal, Gap Inc.’s former CEO. Syngal suddenly resigned effective immediately July 11 as Gap struggles with declining sales. She ...
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News briefsDeetect Bys, a new French sportswear brand
Cécile Mathieu, a 20-year-old basketball enthusiast from the French region of Dordogne, has created a new sportswear brand called Deetect bys (“be your success”). The brand targets pro athletes and amateurs alike. The self-taught entrepreneur was trained through online courses, Actu.fr has reported. Mathieu currently offers a collection of two ...
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News briefsPGA of America and Elysian Park Ventures create investment vehicle for golf startups
PGA of America and Elysian Park Ventures have created EP Golf Ventures, a new investment partnership designed to support innovation in the golf industry. PGA of America and Elysian Park directly committed capital to the fund and are now selecting additional investors. Elysian Park Ventures, the private investment arm created ...
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News briefs
LA Dodgers ownership and PGA create investment fund
The PGA of America and Elysian Park Ventures – private investment arm of the ownership group behind the Los Angeles Dodgers baseball team – have founded a new limited liability company operating out of Los Angeles, New York and London. Called EP Golf Ventures, the company “provides entrepreneurs with strategic, ...
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News briefsJD Sports reportedly bows to CMA, talking to potential Footasylum buyer
U.K.-based JD Sports Fashion was in exclusive talks to sell Footasylum to German private equity investor Aurelius Group, a Sky News reporter said Wednesday in a tweet followed by an article on the Sky website. The negotiations are the result of a months-long dispute with the U.K.’s Competition and Markets ...
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News briefsNike invests $3 million in HBCU college
Source: Pensole Academy D’Wayne Edwards Pensole Lewis College of Business & Design, an HBCU (historically black colleges and universities) in the U.S. state of Michigan owned by former Jordan Brand designer D’Wayne Edwards, announced that Nike is investing $3 million in the college over three years. According ...
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News briefsKizik closes $20m Series B funding round
The Utah-based brand Kizik and its parent company, HandsFree Labs Inc., have announced the closing of a $20 million Series B funding round. According to a company statement, Kizik will use the funds to launch a Kizik childern’s line and build up a retail network of Kizik stores. The funding ...
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ArticleFrasers Group’s former auditors fined in the U.K.
The U.K.’s Financial Reporting Council (FRC) has sanctioned the firm of Grant Thornton and its former partner Philip Westerman for insufficient rigor in audits.
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News briefsPádel Nuestro has a new owner, looks to Japan and the U.S.
Business is brisk in pádel. As Technifibre CEO Nicolas Préault said in our recent interview with him, “Padel is booming as l have never seen a sport boom before.” On July 6, by infusing capital and acquiring stakes, Ergon Capital Group has taken a majority position in 360° Padel Group, ...
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News briefs
Lululemon details growth course in China
China is set to become Lululemon’s second most important market worldwide in 2026. This was specified by CEO Calvin McDonald. In an interview with China Daily he said: “Our new goal is to quadruple our international business again by 2026. The Chinese mainland will be a big part of that ...
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News briefsH&M to pull out of Russia for good
Swedish fashion chain H&M has announced its complete withdrawal from Russia. The exit won’t be cheap.
