News Briefs – Page 25
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News briefsNike faces decline in running shoe website traffic as rivals gain ground
Nike has seen a notable decline in website traffic for its running shoe category, falling behind in a fiercely competitive market. According to Similarweb’s data, traffic to Nike.com’s running segment has steadily decreased from March 2022 to March 2024, a period during which rival brands like Brooks have caught up, ...
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News briefs
Sports Direct loses court appeal over Newcastle United’s kit supply deal with JD Sports
Sports Direct has failed in its bid to secure a Court of Appeal ruling over a dispute with Newcastle United concerning the football club’s exclusive kit supply deal with JD Sports for the 2024/25 Premier League season. The Frasers Group-owned retailer sought a temporary court order to force Newcastle United ...
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News briefsFila Holdings reports flat Q1 net
Fila Holdings’ constant currency net income increased by 0.1 percent to 123,330 million Korean won (€84.1m) against KRW 118,257 million for the period ended March 31. The Q1 operating profit declined by 2.6 percent on a constant currency basis to KRW 163,259 million (€111.3m) compared to KRW 160,379 million. The ...
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News briefsTiger Woods’ new apparel brand faces criticism over performance issues at PGA Championship
Tiger Woods’ new apparel brand, Sun Day Red, faced criticism during the PGA Championship’s opening day as the golfer struggled with visible sweat issues. Launching earlier this year after ending a longstanding partnership with Nike, Woods’ brand aims to redefine golf wear. At golf club Valhalla, Woods appeared in a ...
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News briefsLoewe and On launch new collection
Loewe and On unveil their latest collaboration. The partnership introduces a new joint logo combining elements of both brands. The collection showcases an emphasis on streamlined design and optimal functionality with pieces like color-blocked performance fabrics in natural tones and statement outerwear suited for any weather. Highlights include insulated parkas, ...
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News briefsDecathlon partners with Recyc’elit to advance textile recycling and sustainability in the Industry
Decathlon has reinforced its commitment to sustainability by partnering with Recyc’elit, a pioneering startup specializing in the recycling of complex textiles. Founded in Lyon, France, in 2020 by PhD scientists Karim and Raouf Medimagh, Recyc’elit has introduced a technology for separating materials such as polyester, elastane, and polyamide, enhancing the ...
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News briefsCrocs expands ‘Old Crocs. New Life’ program nationwide to promote sustainability in footwear
Crocs has relaunched its ‘Old Crocs. New Life’ shoe takeback program, expanding the initiative to include all retail and outlet locations across the US, except in Hawaii and Puerto Rico. The program invites individuals to deposit Crocs shoes of any condition into collection boxes or send them ...
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News briefsAdidas shareholders re-elect chairman Thomas Rabe
At Adidas’ annual general meeting this Thursday, shareholders re-elected Thomas Rabe as chairman for another year, marking his fifth year in the role. The re-election comes despite opposition from Institutional Shareholder Services (ISS), a proxy advisory firm, which in April advised against Rabe’s reappointment. ISS cited concerns over Rabe’s multiple ...
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News briefsMartin Badour appointed as new President of Snipes USA, succeeds Jim Bojko
Snipes has announced Martin Badour as the new President of its operations in the US. Badour, who previously served as Executive VP of Retail for Snipes in the USA, steps into the role effective immediately. He replaces Jim Bojko, who has departed from the company. In a statement, Badour expressed ...
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News briefsEbay introduces feature to streamline pre-owned sales
Ebay has introduced a ’click-to-resell’ feature, enhancing the ease with which users can list their pre-loved clothing on the platform. This innovation is part of Ebay’s strategy to position itself as a leader in the recommerce clothing market, providing a seamless method for reselling fashion items and advancing product circularity. ...
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News briefsZalando taps former Puma Executive to lead sports division
Zalando has announced the appointment of Nina Graf-Vlachy as its new General Manager for sports, effective August. This move is part of Zalando’s strategy to enhance its sports lifestyle offerings. Graf-Vlachy, who previously held the role of managing director of central Europe at sportswear company Puma for over a decade, ...
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News briefsTemu faces consumer complaints across Europe for misleading practices
Temu, the Chinese e-tailer known for fast fashion and lifestyle products, is facing scrutiny from 17 European consumer organizations. According to reports from the Dutch Consumers’ Association and the Belgian Testaankoop, these groups have lodged complaints with their national regulators, accusing Temu of deceptive practices and non-compliance with new European ...
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News briefsConverse to cut jobs as part of Nike's $2 billion cost-saving strategy
Converse, a subsidiary of Nike, is set to cut jobs as part of Nike’s broader $2 billion cost-saving initiative, a knowledgeable source disclosed on Tuesday. Announced in December, Nike’s three-year plan aims to economize through strategies like product supply tightening and management streamlining. The footwear leader has faced challenges with ...
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News briefsGoldwin FY operating profit up 9 percent
Japanese group Goldwin reported an annual operating income increase of 9 percent to ¥23,847 million (€141.1m) for the 12 months ended March 31. Annual net income rose by 16 percent to ¥24,281 million (€143.7m). Goldwin’s consolidate net sales for the FY jumped by 10 percent to ¥126,907 million (€750.9m) from ...
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News briefsNike to open large store in Zaragoza
Nike will reportedly open a store of nearly 2,000 square meters in Zaragoza. It will be one of the brand’s largest stores in Spain. According to the Heraldo de Aragón, the store will be inaugurated between the end of the year and the beginning of next year. The new Nike ...
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News briefsLIV Golf hires former PepsiCo executive as its new CMO
LIV Golf has announced the appointment of Adam Harter as its new Chief Marketing Officer (CMO). Harter, who has already joined the organization, will report to LIV Golf’s Commissioner and CEO, Greg Norman. Harter worked for more than 22 years at PepsiCo, most recently as PepsiCo’s Senior Vice President ...
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News briefsBorn Living Yoga seeks international expansion
Born Living Yoga is targeting €25 million in revenues and is planning to rely on international growth as a driving force behind the plan. The Madrid-based activewear and athleisure label generated €18 million in revenues in 2023. In an interview with FashionNetwork.com, co-founders Alvaro Roca and Arianne Puig explained that ...
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News briefsPuma announces leadership shuffle in Europe, appoints new Head for Central Europe
Puma has announced significant leadership changes in its European operations, appointing Bas van den Bemt, a seasoned company executive, as the new head of Central Europe. van den Bemt, who has been with Puma since 2009, previously managed the company’s business in the Benelux region for over eight years and ...
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News briefsPuma introduces genderless collection with Palomo Spain
Puma is launching a new genderless collection in collaboration with Palomo Spain. The new apparel, footwear and accessories collection is meant as a “celebration of queer identities, ‘80s athletic culture, and the glitz of ‘70s roller disco,” Puma said. The collection combines retro flair and contemporary elements with premium fabrics, ...
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News briefsAlibaba Group posts 8% annual revenue growth
Alibaba Group reported revenues of RMB22.9 billion (US$30.7bn) for the quarter ended March 31, 2024, representing an increase of 7 percent year-over-year. Income from operations was RMB14.8 billion (US$2.0bn), a decrease of 3 percent year-over-year. Net income attributable to ordinary shareholders was RMB3.3 billion (US$453 million). Net income was RMB919 ...
