More corporate news – Page 36
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ArticleSome French employees strike over pay at Decathlon
The CFDT called on Decathlon’s employees to go on a national strike in France on Saturday, Oct. 16. The union, third largest by employee representation, is seeking to raise employee compensation in view of this year’s “record profits” at the French producer and retailer of sporting goods. According to a ...
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LeBron James’ SpringHill sells minority stake to Nike and others
SpringHill Company – the video-production firm founded and led by the basketball player LeBron James and the sports marketer Maveric Carter (chairman and CEO respectively) - has sold a minority of its shares to Nike, RedBird Capital Partners, Fenway Sports Group and Epic Games. The deal suggests a valuation of ...
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New share buyback program will lead Adidas to return €1.6 bn to its shareholders this year
Adidas announced the successful completion of the new share buyback program launched in July and the launch of an additional program. Between July 1 and Sept. 30, the company bought back 1,851,522 shares for a total investment of €550 million. Starting on Oct. 18, Adidas plans to buy back additional ...
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Poshmark boosts its sneaker authentication process by buying Suede One
Poshmark, a California-based marketplace for second-hand fashion products, has acquired a virtual sneaker authentication platform called Suede One. The price of the takeover was not disclosed. Founded in 2020, the latter is said to achieve 99 percent accuracy in recognizing popular models such as those of Jordan and Yeezy by ...
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Vuori gets financing to move outside the U.S.
To help finance its international expansion, SoftBank has made an investment of $400 million in Vuori, a six-year-old activewear brand from Southern California, giving it a valuation of nearly $4 billion. The premium sports apparel brand plans to move outside the U.S. next year by launching omnichannel operations in key ...
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Gymshark is reportedly weighing an IPO
Ben Francis, the 29-year-old British entrepreneur who co-founded Gymshark in 2012, and his private equity supporters have started discussions with investment banks and potential institutional investors about a possible public offering, according to Sky News. The talks are said to be in a preliminary stage. There is no certainty that ...
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Slinger makes another acquisition
Slinger has announced its third acquisition so far this year in its bid to diversify from the sale of tennis ball launchers into a provider of a full “Watch, Play and Learn” suite of products and connected digital services for tennis players, possibly catering to other sports in the later ...
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Sequential will be able to honor its debts
The bankrupt Sequential Brands Group is now expected to be able to pay its $435.1 million in liabilities through the auction of its assets. With You, a company that owns a 37.5 percent interest in the Jessica Simpson brand, has launched a bid for the remaining shares owned by SQBG ...
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Canada Goose gets an upgrade on its debt rating
Standard & Poor’s has upgraded its debt rating for Canada Goose to positive from stable, following its better-than-expected operating performance. The company’s results for the financial year ended March 31 indicated an adjusted debt-to-Ebitda ratio of 2.8 times, according to S&P, compared with a previous forecast of more than four ...
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ArticlePon Holdings acquires Dorel Sports
The Dutch Pon Holdings group and the Canadian conglomerate Dorel Industries officially announced on Oct. 11 that Pon.Bike (brands Cervélo, Focus, Gazelle, Juliana, Kalkhoff, Santa Cruz, Union, etc.) will acquire Dorel Sports (brands Cannondale, Caloi, GT, Mongoose, Schwinn, etc.). According to the two parties, this mammoth marriage will create “a ...
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Moncler is developing an interesting new HQ in post-pandemic style in Milan
Moncler plans to concentrate its Milanese employees, currently spread over three sites, into a new headquarters, to be refurbished and delivered by the end of 2024. To this end, the Italian luxury skiwear and outerwear brand has announced a 15-year pre-letting agreement with Convivio. The building is located in the ...
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Article
iFIT drops its planned IPO, Allbirds revises it
Allbirds has revised its proposals for an initial public offering, and iFIT Health & Fitness has postponed its plans to go public, citing “adverse market conditions.” Meanwhile, an acquisitive American maker of camp stove, Solo Brands, has filed an application for an IPO with the U.S. Securities & Exchange Commission ...
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Asics invests in Bisu
Asics Corp. has announced that its venture capital subsidiary, Asics Venture Corp., has made an investment in Bisu, a start-up that is developing a “home health lab.” Called “Bisu Body Coach,” the lab gives personalized nutrition and lifestyle advice by testing urine and saliva at home. Synchronizing with its smartphone-based ...
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New winter sports logistics center for Amer in Austria
Amer Sports has opened a new, more modern and sustainable logistic center for the winter sports products of Atomic, Salomon and Armada at Pongau, near the group’s Austrian ski production facility in Altenmarkt. The group has invested €23 million to modernize Atomic’s former distribution center and to expand it by ...
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Nike unveils new R&D facility named after LeBron James
Nike has officially presented its new LeBron James Innovation Center. Located in the middle of the company’s campus in Beaverton, Oregon, it is named after the basketball champion by the same name. It houses a new Nike Sport Research Lab (NSRL), designed to understand the needs of athletes and the ...
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Decathlon opens continental logistics hub in Barcelona
Decathlon has inaugurated a new distribution center in Barcelona, Spain, to service the European continent. The facility, which replaces a previous one in the area, covers some 95,987 square meters on 167,751 square meters of land. It is adjacent to the Port of Barcelona and ten minutes from the Barcelona ...
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Uvex Group builds new logistics and service center
With a symbolic ground-breaking ceremony on Sept. 27, the Uvex Group gave the starting signal for the construction of a new, modern and sustainable logistics and service center in Rednitzhembach, Germany. The building, which has been pre-certified by the German Sustainable Building Council (DGNB), will begin to take shape before ...
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Foot Locker offers bonds with a 4% yield
Foot Locker has announced that it is offering $400 million in senior notes due in 2029, priced at 100 percent of the principal amount and bearing annual interest of 4.00 percent. The private offering is scheduled to close on Oct. 5. Indicatively, the relatively high yield would compare with the ...
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Austrian ski champion launches his ski brand, Van Deer
The former Austrian Alpine ski champion Marcel Hirscher, who retired two years ago after numerous World Cup victories, has begun producing his own skis. His brand, Van Deer, is at least for now distributed only in Austria, through Bründl Sports, and in the Netherlands, through the Duijvestein Winterstore and Daka ...
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Article
Skechers adjusts prices to offset higher input costs
Skechers started making price adjustments at the start of this year to counter foreign exchange headwinds and other input cost pressures. It is looking at some other offsets for the recent increases in raw material, transportation and logistics costs, without affecting its “reasonable price” marketing appeal. The company told investors ...
