News Briefs – Page 208
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News briefs
New share buyback program will lead Adidas to return €1.6 bn to its shareholders this year
Adidas announced the successful completion of the new share buyback program launched in July and the launch of an additional program. Between July 1 and Sept. 30, the company bought back 1,851,522 shares for a total investment of €550 million. Starting on Oct. 18, Adidas plans to buy back additional ...
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News briefs
Poshmark boosts its sneaker authentication process by buying Suede One
Poshmark, a California-based marketplace for second-hand fashion products, has acquired a virtual sneaker authentication platform called Suede One. The price of the takeover was not disclosed. Founded in 2020, the latter is said to achieve 99 percent accuracy in recognizing popular models such as those of Jordan and Yeezy by ...
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News briefs
Canada Goose opens pop-up in Manchester
Canada Goose has opened a pop-up location on New Cathedral Street in the English city of Manchester. The pop-up is hosting an installation for the senses called “Live in the Open,” with a storytelling platform, to urge “the community to connect with the world around outside;” an exhibition of photographs, ...
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News briefs
Vuori gets financing to move outside the U.S.
To help finance its international expansion, SoftBank has made an investment of $400 million in Vuori, a six-year-old activewear brand from Southern California, giving it a valuation of nearly $4 billion. The premium sports apparel brand plans to move outside the U.S. next year by launching omnichannel operations in key ...
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News briefs
Polartec adds fabric library to Browzwear for digital 3D design solution
Polartec has started a new partnership with Browzwear, a provider of 3D digital solutions for the apparel industry headquartered in Singapore, with seven offices around the world. Browzwear software users will now be able to design and create new styles with Polartec’s range of performance fabrics. An internet-based library of ...
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News briefs
Cantet leaves Private Sport Shop to run Moustache Bikes
On Jan. 1, 2022, Olivier Cantet, a 56-year-old executive with over 20 years of management experience in the outdoor and sporting goods industry who describes himself as a “leading French e-bike specialist,” will join Moustache Bikes, a ten-year-old French supplier of e-bikes, as CEO. He will leave Private Sport Shop, ...
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News briefs
VF and WaterAid partner to vaccinate Cambodians
In an effort to protect workers’ health and keep the supply chain steady, VF is supporting the distribution of Covid-19 vaccines in Cambodia. VF’s Worker and Community Development program, partnering with the nonprofit WaterAid to support the rollout of the Cambodian government’s Covid-19 response plan. More than 20,000 factory workers ...
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News briefs
Gymshark is reportedly weighing an IPO
Ben Francis, the 29-year-old British entrepreneur who co-founded Gymshark in 2012, and his private equity supporters have started discussions with investment banks and potential institutional investors about a possible public offering, according to Sky News. The talks are said to be in a preliminary stage. There is no certainty that ...
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News briefs
Vietnam woes penalize Yue Yuen and other producers
Yue Yuen’s revenues were down by 24 percent to $541.5 million year-on-year in September, with decreases of 22 percent in manufacturing and 25 percent at retail. Total revenues were still up by 6 percent to $6.44 billion for the first nine months of this year. The company relies on Vietnam ...
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News briefs
NURVV Run gets help to develop its smart insole
NURVV Run, the six-year-old, London-based developer of running wearables, has received an award for funding and intensive mentoring for its next phase of research on smart insoles from the creative R&D program of Business of Fashion, Textiles and Technology (BFTT). As a result, it will have access this year and ...
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News briefs
Nike, Asics have the fastest carbon-plated shoes, study says
Did Eliud Kipchoge get a boost from his sneakers on his sub-two-hour marathon? It appears so, and Nike and Asics might have the fastest distance-running shoes on the market. Researchers at Stephen F. Austin State University in Nacogdoches, Texas, have compared the “running economy” – best conversion of energy to ...
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News briefs
Adidas loses appeal about H&M’s two stripes
Ending a trademark dispute that began in 1997, the Dutch Supreme Court has dismissed an appeal by Adidas against a lower court’s ruling that a two-stripe logo used by Hennes & Mauritz did not infringe on its iconic Three Stripes. A key factor in H&M’s success was a market research ...
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News briefs
The International Ski Federation will not change its name
The national federations that belong to the International Ski Federations (FIS) failed to approve proposals to change the organization’s name to “International Ski and Snowboard Federation” or “International Snowsports Federation.” The vote was taken online at an extraordinary congress held under the leadership of the FIS’ new president, Johan Eliasch. ...
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News briefs
Fabletics opens a first store outside the U.S.
Fabletics’ latest store is also, reports Fashion Network, its first one abroad. The U.S. brand has settled on Germany – one of the brand’s top markets, according to its managing director for Europe, Gerrit Müller – to begin its international expansion. The new store is located on the Kurfürstendamm, the ...
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News briefs
Slinger makes another acquisition
Slinger has announced its third acquisition so far this year in its bid to diversify from the sale of tennis ball launchers into a provider of a full “Watch, Play and Learn” suite of products and connected digital services for tennis players, possibly catering to other sports in the later ...
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News briefs
Reebok pays homage to street artist with new sneakers
Reebok is introducing a collection of five sneakers, each a variant on an established silhouette that plays off a work by the late street artist Keith Haring. The Classic Leather Keith Haring is black with a dog motif in reference to Haring’s subway chalk drawings. The CL Legacy AZ Keith ...
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News briefs
Burton plans to launch a new "Mystery Series" tournament
Burton Snowboards has announced the imminent launch of the Burton Mystery Series, describing it as “a bold new beginning for the legendary Burton U·S·Open and the start of a reimagined future that’s unlike anything else in snowboarding events.” Throwing away the rules, it will focus on “what matters most: creativity, ...
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News briefs
Puma launches its lightest football jersey
Puma has introduced what it describes as the lightest football jersey in the company’s history, weighing in at 72 grams. Called dryCELL, it is made of what the German company calls Ultraweave, whose two-dimensional ripstop structure combines recycled polyester, pattern construction and trimmings to produce a stretch in four directions. ...
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News briefs
Signa Sports United to launch AI-based virtual bike fitting engine
Signa Sports United (SSU), the German-based sports e-commerce platform that owns several websites for the sale of bicycles, has entered a strategic partnership with Motesque, a specialist startup for biomechanics, computer vision and AI, to launch what they claim will be the first biomechanical AI-based virtual bike fitting engine ...
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News briefs
Sequential will be able to honor its debts
The bankrupt Sequential Brands Group is now expected to be able to pay its $435.1 million in liabilities through the auction of its assets. With You, a company that owns a 37.5 percent interest in the Jessica Simpson brand, has launched a bid for the remaining shares owned by SQBG ...
