News Briefs – Page 205
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News briefs
Skechers may restructure its Asian business, making it worth $1.5bn
Skechers is considering various strategic options for its operations in Asia including a possible public offering on the Hong Kong Stock Exchange, says Bloomberg, quoting knowledgeable sources. An IPO could raise as much as $1.5 billion, according to the report, but Skechers would have to buy out first the shares ...
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News briefs
Zalando’s Zircle app adds resale option in Germany
Zalando has revamped and relaunched the Zircle app in its home market. German customers of the Zalando marketplace can now return articles of womenswear bought from their fellow customers there. All such items appear in the customers’ order history on the app. The new service will be extended to menswear ...
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News briefs
VF makes new CSR pledges
VF Corp’s fourth sustainability and responsibility report says the group will achieve zero waste verification at all its warehouses and distribution centers by the end of this year, compared with 72 percent at present. This would mean that at least 95 percent of their waste will be diverted from landfills. ...
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News briefs
Hoka collaborates with Moncler
Hoka (formerly called Hoka One One) has collaborated with the outdoor apparel brand Moncler to produce a limited edition of its Mafate Speed 2 trail running shoe. The Mafate S is designed for both mountains and, thanks to the addition of reflectors, city streets. The outsole is made of Vibram ...
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News briefs
Vans to release two collaborative collections
Vans’ two latest collections are collaborations with the Japanese streetwear brand Bape (A Bathing Ape) and the Italian outerwear brand Napapijri. Vans x Bape, which is due for release on Nov. 30, consists of redesigns of established Vans models – specifically two sneakers and a hoodie – that blend elements ...
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News briefs
Ellesse collaborates with YouTube group on capsule
Ellesse, the Italian sportswear brand owned by Pentland Brands, is releasing a co-branded apparel collection for autumn/winter with Sidemen (SDMN), a group of friends who run a YouTube channel and have founded a clothing brand, Sidemen Clothing. Among the eight items are a hoodie, a jacket, joggers, a T-shirt, a ...
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News briefs
Accell makes key supply chain appointment
Accell Group has appointed Francesca Gamboni, who is currently senior vice president of Stellantis in charge of the global supply chain, to the position of chief supply chain officer, tackling what has become an important and complex issue in the bike sector and others. Replacing Jeroen Both, who is leaving ...
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News briefs
Dorel will pay more taxes in Luxembourg
Confirming the verdict of a lower court, the Luxembourg Administrative Court has ruled that a local subsidiary of Dorel Industries owes €54.6 million including tax to the local government. As a result, the owner of Cannondale, Schwinn and other brands, whose bike division is being purchased by Pon Holdings, will ...
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News briefs
Puma signs a prep-school basketball player
Puma has signed its first endorsement deal with a high school basketball player, Mikey Williams, who plays guard for Vertical Academy in Charlotte, North Carolina, and will be eligible for the NBA draft in 2024. ESPN calls the 17-year-old Williams the 11th best prospect in his high school class, and ...
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News briefs
Fanatics will host an international Olympic store
Fanatics is partnering with the International Olympic Committee (IOC) to launch its first global Olympic web store, starting with the Paris Summer Olympics in 2024, followed by the 2026 Winter Olympics in Milan and Cortina, and the Summer Games in Los Angeles in 2028. Fanatics will work with the organizing ...
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News briefs
Galaxy will buy Sequential’s active brands for $330m
Galaxy Universal announced that it has won the auction for the active brands portfolio of the bankrupt Sequential Brands Group, which includes And1, Avia, Gaiam and SPRI. The $330 million deal, which is still subject to court approval, is expected to close in mid-November. Galaxy had already made a “stalking ...
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News briefs
Li Ning raises equity by €1.16bn for international expansion and other purposes
Li Ning Company said it is planning to sell 120 million new shares worth a total of HK$10.5 billion (€1.16bn-$1.35bn) to raise funds for its international expansion, which has not been easy until now, and for investments in new product categories. The proceeds would also be used for the establishment ...
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News briefs
Intersport matched 2019 levels in the first nine months of 2021
Steve Evers, CEO of Intersport International Corp., tells us that the international retail network of Intersport returned to the 2019 level of €8.5 billion (including VAT) in the first nine months of 2021. The retail sales of the affiliated stores went up by 12.6 percent in the third quarter as ...
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News briefs
Garmin performed better in fitness than outdoor in Q3
The fitness segment outperformed the outdoor segment in Garmin’s third quarter, ended on Sept. 25, but the company is still predicting 17 percent growth in both segments for the full financial year. Outdoor segment revenues fell by 3 percent to $323.8 million, due primarily to the timing of new product ...
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News briefs
Zalando more than triples its fleet of Magazino robots
Zalando has ordered 20 order picking robots specifically designed for the footwear industry from the German start-up Magazino. Zalando, which has invested in Magazino, initially bought two of the robots called Toru in 2018, before increasing the fleet by an additional six in 2019. Once the latest robots are fully ...
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News briefs
Wolverine amends its credit facilities
Wolverine Worldwide has amended and extended its credit agreement with JP Morgan Chase, refinancing a $200 million term loan and taking its existing revolving credit up from $800 million to $1 billion. The maturity of both credit facilities has been stretched to end on Oct. 21, 2026. There was an ...
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News briefs
Clarus prices its stock offering at $27
Clarus Corporation, the company based in Salt Lake City that owns brands such as Black Diamond, Pieps, Sierra Bullets and Rhino-Rack, has priced a stock offering of 2,750,000 shares of common stock at $27 each. The expected gross proceeds of $74,250,000 would be used for general corporate purposes, including repayment ...
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News briefs
Champion’s new collection is all about Queen
Champion is releasing a limited-edition collection of unisex sportswear that displays pictures of and song titles by the rock band Queen. Yes, the obvious candidate, “We Are the Champions,” is included. Among the items are Reverse Weave sweatshirts and hoodies and Athletic Jersey T-shirts. The collection will be sold at ...
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News briefs
Kelme’s Spanish distributor is fighting for life
According to Diffusion Sport, New Millennium Sports has asked the third commercial court of Alicante, in the Spanish autonomous community of Valencia, to allow it to enter into bankruptcy protection proceedings. The former owner of the Kelme brand, which has a contract for its dstribution in Spain, seeks to avoid ...
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News briefsWeSports buys a Swedish Nordic ski retail specialist
After its recent acquisition of the Finnish water sports equipment supplier Finwake in September, WeSports, a Stockholm-based group of individual sports, outdoor and mobility companies operating both online and with physical stores and product brands, has completed the acquisition of a Swedish sports retailer, Pölder Sport AB. Founded in 1990, ...
