News briefs - Corporate and M&A – Page 72
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News briefs
The Authentic Brands Group (ABG) has completed its acquisition of...
The Authentic Brands Group (ABG) has completed its acquisition of Nautica from VF Corporation. It is now its biggest brand, with an annual turnover of nearly $1 billion. The group already owns brands such as Prince, Spyder, Vision Street Wear and Juicy Couture.
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News briefs
The Sports Edit has secured £1 million (€1.14m-$1.37m) in a round...
The Sports Edit has secured £1 million (€1.14m-$1.37m) in a round of investment led by new backers including Justin King, Sue Watson and Ric Lewis, adding to existing investors. King is the former chief executive of Sainsbury's, while Watson is the owner of Lyle & Scott, and Lewis is the founder ...
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News briefs
GoPro's depressed share price took a jump after reports that...
GoPro's depressed share price took a jump after reports that a Chinese rival, Xiaomi, may make an offer for the company. Xiaomi, a big Chinese company that makes smartphones, mobile devices, laptops and other consumer electronics, is a minority shareholder of Yi Technology, which makes action cameras that are much ...
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News briefs
Amer Sports has restated its 2017 results based on new...
Amer Sports has restated its 2017 results based on new IFRS accounting rules. Revenues were increased by €24.1 million to €2,709.3 million, with increases of €3.8 million for Outdoor, €5.8 million for Ball Sports and €14.5 million for Fitness. Net income for the year was adjusted down by €0.4 million ...
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News briefs
Kevin Plank, founder and chief executive of Under Armour, had...
Kevin Plank, founder and chief executive of Under Armour, had his annual salary cut to $2 million last year from $8.6 million in 2016 because of the company's worse-than-expected performance. He has also given up a stock-based compensation of about $2 million.
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News briefs
VF Corp. has completed the acquisition of Icebreaker, which had...
VF Corp. has completed the acquisition of Icebreaker, which had sales of about $220 million last year. It plans to combine the brand with Smartwool to create a global distribution footprint in the nature fiber market. The plan for the market positioning of the brand has yet to be worked ...
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News briefs
Nike has announced the acquisition of Invertex, a computer vision firm...
Nike has announced the acquisition of Invertex, a computer vision firm based in Tel Aviv, Israel. Nike said the move is part of the ongoing strengthening of its digital technology platforms. The terms of the deal have not been disclosed. Invertex produces mobile applications that can analyze the body in 3-D. ...
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News briefs
Adidas is boosting its plans for the expansion of Adidas...
Adidas is boosting its plans for the expansion of Adidas North America's campus in Portland, Oregon. It will expand it by 425,000 square feet instead of the originally planned 200,000 sqft. extension. Overlooking the Columbus River, the campus currently hosts 1,700 employees squeezed into 365,000 sqft. of office space. It ...
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News briefs
LVMH is going for sneakers. The world's largest luxury goods...
LVMH is going for sneakers. The world's largest luxury goods company is reportedly eyeing a possible investment in Stadium Goods, an exclusive American online retailer for “authenticated” sneakers that has been collaborating with the likes of Supreme and Off-White, the company founded in 2013 by Virgil Abloh, the 37-year-old designer ...
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News briefs
Pou Chen Corp. has cancelled a plan to take Pou...
Pou Chen Corp. has cancelled a plan to take Pou Sheng International private in a deal that values the Chinese distribution and retail company at $1.4 billion due to opposition by its shareholders. Under the original plan, Pou Chen's subsidiary, Yue Yuen Industrial (Holdings), would have sold its 62 percent ...
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News briefs
Invista's apparel and advanced textiles (A&AT) division has signed a...
Invista's apparel and advanced textiles (A&AT) division has signed a memorandum of understanding to build a new textile innovation center in Foshan, China. The facility will feature textile processing equipment for knitting and weaving as well as equipment for garment engineering, analytic testing and fabric certification. It will also include ...
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News briefs
Keola, the Dutch manufacturer of e-bikes, has inaugurated a new...
Keola, the Dutch manufacturer of e-bikes, has inaugurated a new 5,500-square-meter production facility in Roosendaal, in the southern part of the Netherlands, as well as a new sales office and warehouse in Denmark. The new factory in Roosendaal will allow Keola to increase its production tenfold compared with the current ...
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News briefs
WakaWaka, a Dutch producer of portable solar power banks and...
WakaWaka, a Dutch producer of portable solar power banks and solar-powered lights that we have already talked about in our Outdoor Industry Compass, is the first B Corporation to be offering shares through a Dutch financing platform for small and medium enteprises, hoping to raise €2.5 million. B Corporations are ...
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News briefs
Ibex, an American brand that was generating annual sales of...
Ibex, an American brand that was generating annual sales of about $20 million from its merino wool performance apparel, has found a new owner for its assets, following an auction launched in January. Ibex is now a property of Flour Fund, a New York-based investment fund led by a marketing ...
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News briefs
ABS Protection has moved from Gräfeling to the Schwabing section...
ABS Protection has moved from Gräfeling to the Schwabing section of Munich, where it will reportedly exploit synergies with other sports brands in the same building. Felix Neureuther, the German ski star, is a shareholder in the German manufacturer of avalanche airbags.
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News briefs
Chervò has acquired a 95 percent stake in Chervò USA,...
Chervò has acquired a 95 percent stake in Chervò USA, a sign of the new focus of the Italian golf and sportswear brand on the largest consumer market in the world. The U.S. is also the world's largest golf country, with more than 20 million players. The remaining 5 percent ...
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News briefs
Asics has announced the opening of a new innovation hub...
Asics has announced the opening of a new innovation hub at its headquarters in Barcelona. The new center is to attract and support European start-ups focusing on sports and wellness. The center will concentrate on the development of new products and services with the aim of enhancing the end-user experience. ...
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News briefs
Kathmandu, the New Zealand outdoor brand and retailer, has agreed...
Kathmandu, the New Zealand outdoor brand and retailer, has agreed to take over Oboz Footwear, the U.S. outdoor footwear brand, for $60.0 million in cash and an earn-out of up to $15 million, as a means to expand its footwear and international sales. Established in Montana in 2007, Oboz generates ...
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News briefs
Two shareholders of Billabong International, Rider Capital and Adam Smith...
Two shareholders of Billabong International, Rider Capital and Adam Smith Asset Management, have voiced their opposition to the proposed sale of the company to Boardriders. Together they hold 15.4 percent of the company's shares. Billabong's founder, Gordon Merchant, has already approved the terms of the transaction, but the other shareholders ...
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News briefs
Trerè Innovation, which has lost a contract for the production...
Trerè Innovation, which has lost a contract for the production of X-Bionic garments and X-Socks socks and their distribution in Europe, has found a new client. Replay, the Italian denim brand, has agreed to license its socks and underwear products to the Italian knitter on a global scale, generating annual ...
