News briefs - Corporate and M&A – Page 58
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News briefs
Coronavirus depresses Adidas’ sales in China
Updating investors on the effects of the coronavirus on its business, Adidas said that it performed well in China during the first three weeks of 2020 but has since suffered a decline of about 85 percent as compared to the same period of last year. A number of the German ...
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News briefs
Nike changes the business model in South America
Claiming that it wants to move closer to its customers in the South American market, Nike said that it will in future concentrate its business in the hands of only a few distributors, meaning that it plans to close down some sales subsidiaries. Under Armour took a similar step recently, ...
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News briefs
New distribution for Hurley in Europe
Hurley’s EMEA business has been taken over as a single entity by David Meire and Javier Carrera, two former Nike employees from Spain, who will manage it through a distribution agreement with the brand’s new owner, a brand management company, Bluestar Alliance. Meire was general manager or vice president at ...
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News briefs
Asics invests in another start-up
Asics has invested in No New Folk Studio, a Japanese start-up that has developed a system to measure and analyze foot movement. The Japanese footwear company will be using Orphe Track, as the system is called, to develop “smart running shoes” that generate data such as gait, stride, foot-strike pattern ...
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News briefs
Callaway offers virtual reality
Callaway Golf has announced a partnership with AAA Games Studios, the gaming and virtual reality (VR) experts based in Madrid. AAA Games is the developer and owner of “Golf 5 WIPP,” a proprietary VR technology that simulates the movement of golf clubs and the golfer’s swing, thereby providing an immersive ...
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News briefs
Spartan Race acquires Tough Mudder’s U.K., Canadian and German events
Spartan Race, the global leader in obstacle course racing, recently announced the acquisition of Tough Mudder’s U.K., Canadian and German events. This is the first step in an effort to merge both obstacle course race leaders. Events in these countries will continue to be operated by the same team and ...
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News briefs
Anllian Capital is issuing convertible bonds
Anllian Capital – a special-purpose investment vehicle belonging to Anta Sports Products that directly or indirectly owns just over 59 percent of Amer Sports through the Mascot Bidco consortium – is issuing convertible bonds with a zero coupon worth €1 billion. Issued at a price 0.25 percent higher than the ...
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News briefs
Zalando completes construction of two buildings
In the summer of 2019, Zalando completed the construction of buildings X and O in Berlin. In April 2020, the e-commerce company will be starting the construction of another building (Z) in Friedrichshain, Berlin. The new building is expected to offer a flexible working environment, allowing employees to work individually ...
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News briefs
Oberalp to add sixth brand of mountain sports products
The Oberalp Group, which owns Salewa and other brands, indicated at its recent sales meeting that its “Brand House” is going to soon add a sixth brand of mountain sports products. Declining to provide any details at this stage, Ruth Oberrauch, brand manager and sustainability manager of the group, said ...
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News briefs
New Era Cap celebrates 100th anniversary
New Era Cap has announced that it will be celebrating the company’s 100th year anniversary with special collections, global partnerships, and an exhibition at the Buffalo History Museum. The company was founded in Buffalo, in the U.S. State of New York, as a headwear company by Ehrhardt Koch, the great ...
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News briefs
Ecco is setting up a new factory
Ecco is setting up a new factory that will employ 1,400 people in Vietnam, according to a Danish financial newspaper, Børsen. Quoting the Vietnam Economic Times, the report estimates the initial investment at $30 million. The factory is expected to be ready at the end of the year. Ecco already ...
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News briefs
Specialized loses French office in fire
Specialized lost its French office at Charmes-sur-Rhône to fire on Jan. 9. The cause remains unknown. The building was also the headquarters of an architectural firm. No one was killed. According to a local newspaper, Le Dauphiné, the French region of Ardèche will be providing financial aid to both firms. ...
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News briefs
Milliken to acquire Borchers Group
Milliken & Company, which operates in chemicals, consulting and training, floor coverings and textiles, has signed an agreement to acquire Borchers Group, a chemicals company in Westlake, Ohio, currently owned by the Jordan Company. The deal should close sometime this month, after clearing the customary hurdles. According to Milliken, Borchers’ ...
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News briefs
Philipp Plein is discontinuing Plein Sport
Philipp Plein, the German luxury fashion company, is discontinuing its dedicated sports line, Plein Sport. Instead, sports products will be integrated into the main collection in the future, with a potential especially for sneakers. The sports line was launched in 2016, with a plan to open around 50 stores within ...
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News briefs
Hummel acquires two Danish sports brands
Hummel has acquired two other Danish sports brands, Halo and Newline, from Performance Group Scandinavia. The purchase price has not been disclosed. Founded in 1981 by a parachutist and pentathlon athlete, Helge Petersen, Newline specializes in running and cycling apparel, complemented by running shoes since 2011. Halo is a recent ...
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News briefs
VF Corp. exploring workwear divestments
VF Corp. is exploring options for divestments in its occupational workwear segment. The nine brands under review are Red Kap, VF Solutions, Bulwark, Workrite, Walls, Terra, Kodiak, Work Authority and Horace Small. Dickies and Timberland Pro are excluded. For VF’s chairman, president and chief executive, Steve Rendle, “divesting these brands ...
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News briefs
Trisport, which has been the exclusive importer of Kettler in...
Trisport, which has been the exclusive importer of Kettler in Switzerland for 40 years, has reportedly acquired the fitness equipment patents of the insolvent German brand and the trademark rights for its distribution in Europe. Kettler's holding company will keep the rights for the brand's tennis tables. Trisport will show ...
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News briefs
Sport 24, the third-largest sporting goods retailer in Denmark, which...
Sport 24, the third-largest sporting goods retailer in Denmark, which has been growing fast, has moved to a new 3,200-square-meter headquarters in Jutland. Henrik Bruun, the founder, has used his own money to build an attractive, modern building to handle all functions for the chain's six divisions. There is also ...
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News briefs
In the summer of 2019, Zalando completed the construction of...
In the summer of 2019, Zalando completed the construction of buildings X and O in Berlin. In April 2020, the e-commerce company will be starting the construction of another building (Z) in Friedrichshain, Berlin. The new building is expected to offer a flexible working environment, allowing employees to work individually ...
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News briefs
Adidas has announced the start of the third tranche of...
Adidas has announced the start of the third tranche of its multi-year share buyback program, which calls for the purchase of up to €3.0 billion worth of its own shares between March 2018 and May 2021. It is planning to purchase own shares worth up to €1.0 billion in 2020. ...
