News briefs - Corporate and M&A – Page 31
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News briefsiFIT launches iFIT Adventures, offering real-life excursions to iFIT workout destinations
iFIT, a specialist in connected fitness software, content and equipment, has announced the launch of iFIT Adventures, a new series of in-person travel fitness experiences that allow members to explore destinations around the globe. iFIT Adventures, led by iFIT’s in-demand trainers, are all-inclusive travel experiences that enable members to move ...
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News briefsCanada Goose accelerates expansion in the Japanese market
Canada Goose Holdings and its longtime Japanese partner Sazaby League Ltd. have reached an agreement to establish the Canada Goose Japan joint venture to accelerate DTC expansion, including retail stores. The agreement will replace an existing exclusive national distribution agreement between Sazaby League and the Canadian luxury outdoor brand. Beginning ...
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News briefsSlinger with losses in Q3 shortly before anticipated app launch
Sports technology company Slinger, known for the Slinger Bag, reported a net loss for the third quarter ended Jan. 31 that widened 84 percent to $2.37 million from $1.29 million on a 2 percent increase in revenue to $4.20 million from $4.12 million. Slinger sold more than 7,200 tennis ball ...
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News briefsAlibaba Group upsizes share repurchase, appoints new independent director to board
The Alibaba Group Holding’s board has authorized to upsize its share repurchase program to US$25 billion from US$15 billion, in a sign of confidence about the company’s continued growth in the future. The Share Repurchase Program will be effective for a two-year period through March 2024. As of March 18, ...
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News briefsTriathlon apparel brand Tri-Fit makes its international debut
Tri-Fit, an Australian triathlon clothing brand, is expanding to the global market. Tri-Fit was originally created by Simon Bennett in 2013 in Sydney as a group fitness facility aimed at endurance athletes. In 2017, when Bennett was joined by his friend, triathlete and Ironman finisher Dan Evans, the brand shifted ...
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News briefsStella will produce more in Indonesia
While starting up its new shoe manufacturing facility in Solo, Indonesia, Stella International Holdings Limited is already planning to add a second factory to make 15 million pairs a year in the country, following a $120 million investment from its largest client, which represented 34 percent of its revenues last ...
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News briefsHydrow raises $55 million in Series D funding
Hydrow, the at-home connected rower, has announced that it has raised around $55 million in Series D funding, led by Constitution Capital with continued support from L Catterton and RX3 Ventures and additional participation from Liberty Street, Activant Capital and Sandbridge Capital. L Catterton, the largest global consumer-focused private equity ...
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News briefsLeki has a new brand identity
After 33 years, German pole manufacturer Leki has unveiled its new logo as part of a new, comprehensive brand identity that will be rolled out from March 2022, including a new website. “The brand’s evolution is logical and brings more focus on the essentials. The emotionalization of the brand moves ...
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News briefs
U.K. trade show organizer Raccoon buys U.S. B2C event from SIA
Raccoon Events, the British company behind the National Running Show and the National Outdoor Expo in the U.K., has acquired the Snowbound Festival from Snowsports Industries America (SIA). Raccoon and SIA announced that they would form a long-term partnership in conjunction with the Snowbound B2C event. The partnership aims to ...
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News briefs
K-Swiss names VP of marketing and director of e-commerce
K-Swiss, together with Palladium under the umbrella of Chinese manufacturer Xtep since 2019, has a new VP of marketing: Anna Amador brings rich industry experience from previous positions at Skechers, Adidas and Nike. ”I’m thrilled to join the team and contribute to the success of the heritage brands of K-Swiss ...
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News briefsKicks Crew raises $6 million in Series A funding
Kicks Crew, a global e-commerce platform for sneakers and apparel, announced the closing of a $6 million Series A funding. The financing was led by Gobi Partners, Asia-based private investment group Pacific Century Group and DL Securities Hong Kong. The capital raised will help strengthen the company’s position in the ...
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News briefsAmerican private equity firm acquires majority stake in Dainese
Dainese Group has announced that the American private equity firm Carlyle will acquire a majority stake in the company from Investcorp and Lino Dainese. The change in ownership will include all of the Italian group’s brands – Dainese, AGV and TCX – as well as real estate and production facilities. ...
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News briefsCharity platform Sport4ukraine calls for donations and doubles them
On the newly formed charity platform Sport4ukraine, founded by Siegbert Müller, managing director of Outtra, donations to help people in need in the wake of the war in Ukraine are collected. The project is supported by the organizations BSI, VDS, SAZsport, Sport 2000, and companies Alpenstrand, Chillaz, Ortlieb, Bergfreunde, Devold, ...
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News briefsMark Wahlberg invests in sneaker brand P448’s parent company
Actor Mark Wahlberg has become a strategic investor in the New York-based company StreetTrend LLC, taking ”a significant minority financial stake” in the business. StreetTrend, a fashion footwear and streetwear brand company launched in 2017 by Wayne Kulkin, acquired the Italian sneaker brand P448 from NoThanks SpA in late 2020. ...
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News briefsAmazon acquires e-commerce software provider; European business growth slower than in 2020
It has just been disclosed that Seattle-based Internet giant Amazon acquired Veeqo last November, a software startup based in Swansea, Wales, founded in 2013. Veeqo provides software that helps retailers manage their online businesses across e-commerce platforms such as Amazon, eBay, Shopify and Walmart – from shipping orders and returns ...
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News briefs
Jog & Jim is a new French sportswear brand
Géraldine Robert and Vincent Godbert have launched Jog & Jim, a new sports apparel brand that only uses natural fibers like hemp, biological cotton or linen, but no plastics. The company was launched in Roubaix, in France’s North department, not far from the Belgian border. Unlike the usual sportswear, Jog ...
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News briefsCastore signs new debt financing facility
Manchester-based sportswear brand Castore, founded in 2016 by Tom and Phil Beahon and backed by two-time Wimbledon champion Andy Murray and billionaires Mohsin and Zuber Issa, has secured a new financial boost, BusinessLive reports. The U.K. news service wrote that the company has signed a financing facility with the financial ...
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News briefsSnipes with second major acquisition in the U.S. since December
Snipes continues its expansion in the U.S. with the acquisition of New England-based sneaker retailer Expressions, which operates 35 stores in Massachusetts, Connecticut and Rhode Island. Terms of the deal were not disclosed. Expressions was founded in 1989 as a fashion-oriented family business. In the years that followed, the company ...
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News briefsSalvesen & Thams acquires Norwegian fitness equipment supplier Mylna Gruppen
The Norwegian investment company Salvesen & Thams, with co-investors, has agreed to acquire Mylna Gruppen AS, Scandinavia’s largest supplier of fitness equipment to the professional and consumer markets. Salvesen & Thams will become the majority owner of the Mylna Group. The Mylna Group sells fitness equipment to sports retailers, gyms ...
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News briefsFanatics receives $27 billion valuation and raises $1.5 billion
According to reports in the Wall Street Journal and SGB, Florida-based Fanatics Inc. has raised $1.5 billion in a funding round that values the sports merchandise and memorabilia company at $27 billion. Because the transaction was private, both media rely on information received by a ”person with knowledge of the ...
