More corporate news – Page 67
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News briefs
Nike has agreed to sell Hurley for an undisclosed amount...
Nike has agreed to sell Hurley for an undisclosed amount to a private equity fund, Bluestar Alliance. Nike had purchased the surfwear brand from its founder, Bob Hurley, in 2002. Bluestar, which owns many other consumer brands, including Bebe and English Laundry, says it wants to build Hurley into a ...
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Salomon has opened a Performance Center next to its existing...
Salomon has opened a Performance Center next to its existing Design Center in the French city of Annecy. The 820-square-meter facility is open – by appointment only – to skiers on the World Cup and regional racing circuits. In the words of Véronique Rémy, head of marketing, the move is ...
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Formosa Taffeta will acquire a 50 percent stake in Schoeller...
Formosa Taffeta will acquire a 50 percent stake in Schoeller Textil in March of next year, after receiving the approval of its board of directors. The companies have been partners in the Hong Kong-based joint-venture Schoeller FTC for 18 years. According to the Taipei Times, Formosa plans to invest up ...
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Sports Direct has appointed RSM UK as its auditors with...
Sports Direct has appointed RSM UK as its auditors with immediate effect. The appointment follows the recent split with Grant Thornton, which withdrew from the role at Sports Direct's AGM in September. Grant Thornton had been the company's auditor since 2007. As a listed company, the sporting goods retailer must ...
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News briefs
To refocus on its primary business of supermarkets, the Migros...
To refocus on its primary business of supermarkets, the Migros Group of Switzerland is disposing of M-Way, a chain of 28 e-bike and kick-scooter stores in the country with its own e-tail site and a staff of about 100. The acquirer is the Swiss E-mobility Group, which already owns the ...
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News briefs
Nike has acquired TraceMe, a start-up founded by Russell Wilson,...
Nike has acquired TraceMe, a start-up founded by Russell Wilson, a quarterback with the Seattle Seahawks, an American football team, and funded to the tune of $9 million by the Madrona Venture Group and the founders of Amazon, Alibaba and YouTube: Jeff Bezos, Joe Tsai and Chad Hurley, respectively. TraceMe ...
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News briefs
Asics has built a 5,000-square-meter training center in Tokyo that...
Asics has built a 5,000-square-meter training center in Tokyo that will allow athletes to exercise in low-oxygen conditions. The new Asics Sports Complex will open its doors to the public on Nov. 1. Oxygen levels will vary by the day of the week to mimic the levels at altitudes from ...
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News briefs
Fitbit is moving the manufacturing of its trackers and smartwatches...
Fitbit is moving the manufacturing of its trackers and smartwatches out of China. As of January 2020, they will be manufactured elsewhere and no longer be subject to the new tariffs imposed by the U.S. government.
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News briefs
The Accell Group has sold off the last piece of...
The Accell Group has sold off the last piece of its former business in the U.S. According to Bicycle Retailer, a group of investors has taken over Beeline, a former mobile bike service franchisor that the Dutch group had acquired last year to develop a software program for scheduling bike ...
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News briefs
Sequential Brands is on the look-out for a new chief...
Sequential Brands is on the look-out for a new chief executive as it considers a range of strategic options following the sale of the Martha Stewart and Emeril Lagasse brands earlier this year. Sequential has hired the investment bank Stifel to help it explore additional brand divestments, potential acquisitions, stock ...
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News briefs
Blackrock, a major asset management firm, has raised its stake...
Blackrock, a major asset management firm, has raised its stake in Moncler from 4.794 percent to 5.016 percent. The company's president, Remo Ruffini, is still the major shareholder with a stake of 26.75 percent. Another major shareholder is Morgan Stanley with about 3 percent of the shares. As of last ...
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Short stops
Topgolf International, a major operator of golfing centers partly owned...
Topgolf International, a major operator of golfing centers partly owned by Callaway Golf, is exploring an IPO, according to Reuters
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News briefs
Foot Locker has invested $3 million in NTWRK, an e-commerce...
Foot Locker has invested $3 million in NTWRK, an e-commerce app that allows brands and celebrities to drop and sell their products through live “episodes” as consumers watch, chat and buy. The investment forms part of a series-A round of financing worth $10 million overall and co-led by Live Nation, ...
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News briefs
Four years after acquiring Runtastic for €220 million, Adidas is...
Four years after acquiring Runtastic for €220 million, Adidas is further integrating the app into its own e-commerce platform. Adidas is now using Runtastic to power its Adidas Running and Adidas Training apps, through which users will be collecting points and connecting to the Adidas' Creators Club, a free membership ...
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News briefs
Wolverine Worldwide's board has approved a share repurchase program which...
Wolverine Worldwide's board has approved a share repurchase program which will return $400 million to shareholders over the next four years. The footwear group said it will repurchase shares as appropriate and in compliance with any restrictions contained in the company's credit agreements.
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News briefs
Standard and Poor's has downgraded the rating outlook for Wolverine...
Standard and Poor's has downgraded the rating outlook for Wolverine Worldwide from stable to BB+ because its financial leverage has risen to three times due to spending on share buybacks. The leverage may grow beyond three times if the Ebitda margin doesn't improve from its current level of 5 percent ...
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News briefs
Sports Direct International has reported on new share buybacks twice...
Sports Direct International has reported on new share buybacks twice in the last few days. They have raised the number of shares held in treasury to 117,209,901 as of Oct. 2, out of a total of 523,392,468 ordinary shares, which is equal to the number of voting rights.
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News briefs
While sharpening its focus on luxury goods, Kering has continued...
While sharpening its focus on luxury goods, Kering has continued to reduce its stake in Puma, which it bought over a decade ago. The owner of fashion brands Gucci and Yves Saint-Laurent has issued a €500 million bond that holders can exchange for Kering's shares in Puma at maturity, allowing ...
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News briefs
Head International has started construction of its new ski plant...
Head International has started construction of its new ski plant in the Vinnitsia Oblast of Ukraine, the regional administration said in a statement on its website on Sept. 13. The new plant is slated to begin operation in 2021. Head said last year that it had chosen Ukraine over other ...
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News briefs
Dorel Industries of Montreal, owner of cycling brands such as...
Dorel Industries of Montreal, owner of cycling brands such as Cannondale, GT and Schwinn as well as brands in other sectors, has suspended the planned payment of its dividend and seen a significant decline in its market capitalization. From Sept. 30 to Oct. 2, its B-class shares dropped by 32 ...
