News briefs - Corporate and M&A – Page 20
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News briefsNBA All-Star Allen Iverson partners with Authentic Brands Group
Reebok owner Authentic Brands Group (ABG) has teamed up with Hall of Famer and 11-time NBA All-Star Allen Iverson to further develop Iverson’s own brand. Under the partnership, ABG will focus on growing Iverson’s entertainment business, securing new advertising deals and strategic partnerships, and developing new consumer product opportunities. Currently, ...
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News briefsLululemon shares take hit after lowered margin outlook
Lululemon, in updating its fourth-quarter guidance ahead of the ICR Conference, lowered its gross margin outlook for a second consecutive quarter. The group forecasted a gross margin decline of 90 to 110 basis points in the period versus a prior outlook of a 10 to 20 basis point increase, and ...
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News briefsAmazon to close three UK warehouses, plans two new fulfillment centers
SkyNews reports that Amazon is looking to close three old warehouses in the U.K., which currently employ 1,200 people, and replace them with two new, large fulfillment centers. The sites in Hemel Hempstead, Doncaster and Gourock, in the west of Scotland, have been proposed for closure. The proposed new sites ...
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News briefsJack Ma to give up control of Ant Group
Ant Group founder, Chinese billionaire Jack Ma, who is also the founder and longtime head of Alibaba Group, will relinquish control of the Chinese fintech giant, according to Reuters. The move is intended to draw a line under the regulatory crackdown that began shortly after Ant’s IPO failed two years ...
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News briefsVF with new appointment to Timberland executive team and more
Source: VF Corp Nina Flood VF Corporation has announced new appointments to its leadership team in the EMEA region, including for the Timberland brand, effective Jan. 31. Nina Flood — current president VF Global Packs (Eastpak, JanSport, and Kipling) — is to be the new general manager ...
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News briefsAlibaba plans logistics center at Istanbul airport
Chinese e-commerce giant Alibaba Group Holding Ltd will invest more than $1 billion in Turkey to build a logistics center at Istanbul Airport and a data center near the Turkish capital of Ankara, Michael Evans, president of Alibaba Group since 2015, told Sabah newspaper last Sunday. Alibaba is seeking to ...
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News briefsAmazon cuts 18,000 jobs, secures billion-dollar loan
Amazon will lay off over 18,000 employees, with the majority focused on Amazon Stores and the People, Experience, and Technology (PXT) organizations, Andy Jassy, the company’s CEO, announced. The U.S. online retailer plans to start talking to employees or representative bodies from Jan. 18. Amazon had already imposed a hiring ...
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News briefsL.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 briefsGo 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 briefsNew co-owners for long-standing Austrian retailer Strolz
Austrian newspaper Kleine Zeitung reported that well-known sports and fashion retailer Strolz of Lech – founded in 1921 and best known for its handmade, personally customized ski boots – has gained new shareholders: Hugo Boss CEO Daniel Grieder, manager Siegfried Wolf and local real estate project manager Reinhard Wolf are ...
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News briefsPeloton 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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News briefsEagle Football acquires Ligue 1 club Olympique Lyonnais
Eagle Football Holdings Bidco Limited, a London-based group founded by digital entrepreneur and soccer enthusiast John Textor with stakes in English Premier League club Crystal Palace, Brazilian Serie A club Botafogo de Futebol e Regatas and Belgian First Division B club RWD Molenbeek, announced today that it has acquired a ...
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News briefsXXL 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 briefsPangaia 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
VF is said to be interested in selling JanSport
According to Bloomberg citing „people with knowledge of the matter,” VF Corp is considering selling the JanSport backpack and adventure luggage brand. There are no details of a potential investor revealed whatsoever. Shares of VF, the owner company of The North Face (TNF), Vans and Timberland brands, have dropped by ...
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News briefsOerlikon signs agreement to acquire Riri
The Swiss Oerlikon group, a textile technology provider, specialized in surface solutions and polymer processing solutions, has announced an agreement to acquire the zippers and accessory specialist Riri. The transaction is expected to close in the first quarter of 2023, subject to regulatory approvals and standard closing conditions. Riri supplies ...
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News briefsJD Sports divesting 15 non-core fashion brands
JD Sports is selling 15 non-core, U.K.-based fashion businesses to Frasers Group for cash consideration of up to £47.5 million (€54.9m). The divestiture will result in JD taking a non-cash exceptional charge of up to £100 million and shifting more focus to the international and digital businesses of its core ...
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News briefsNew 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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News briefsSport 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 briefsZenkai 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 ...
