News Briefs – Page 9
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News briefsNike unveils ‘Nike Jam’ sneakers for breakdancing debut at 2024 Summer Olympics
With the 2024 Summer Olympics on the horizon, Nike is set to make a splash in the debut of breakdancing as an official competition sport. Introducing the Nike Jam, a performance sneaker crafted specifically for breakdancers, which was unveiled at Nike’s “Nike on Air” Olympic preview event last month. Designed ...
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News briefsFootBalance wins at 2024 Sports Technology Awards with 3D foot scanning tech
Finnish company FootBalance clinched the top spot in the Medical category at the 2024 Sports Technology Awards with its MyFootBalance 3D foot scanning technology. The awards ceremony, held in London on May 9, 2024, celebrated the forefront of sports technology innovation, recognizing leaders across 23 different categories. The company’s founder, ...
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News briefsBullpadel hits the UK’s e-tail mainstream
The distributor MRH Sport has struck a deal to sell Bullpadel pádel racquets through John Lewis. We learn this from The Padel Paper, according to which John Lewis is the first major department store in the UK to stock pádel racquets for online sale. Some 18 Bullpadel racquets are now ...
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News briefsNike confirms uniform changes to MLB owners
In his address to Major League Baseball (MLB) club owners on May 23, Commissioner Rob Manfred said, according to The Athletic, that Nike had long acknowledged the trouble with this year’s uniforms. The uniforms were manufactured to Nike’s specifications by Fanatics, and the trouble, as we reported in April, includes ...
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News briefsLaura Miele joins On’s Board of Directors
On Holding announced the election of Laura Miele to its Board of Directors as an independent member. Miele will also contribute to the Audit Committee. “We are thrilled to welcome Laura to the On Board of Directors and could not be happier for such a qualified and dedicated individual to ...
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News briefsRetail resilience: physical stores prove crucial for driving growth in digital era
The retail landscape, deeply transformed by the Covid-19 pandemic, is demonstrating resilience and a symbiotic relationship between physical stores and online sales. Despite the surge in digital shopping during the pandemic’s peak, recent data indicates that brick-and-mortar stores remain essential for driving growth in the retail sector. According to an ...
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News briefsAdidas CEO faces backlash over use of kangaroo leather amid protests at annual meeting
Adidas CEO Bjørn Gulden is facing scrutiny over the company’s use of kangaroo leather following a protest at the annual general meeting. Activists from Animal Rebellion disrupted the event with signs declaring, “Kangaroo leather is cruel,” highlighting the contentious issue surrounding the use of wild Australian animals for products. Australia’s ...
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News briefsInter Milan changes hands
Funds under the management of Oaktree Capital have swept in to take control of the Serie A football club Inter Milan. The club’s previous majority owner, Suning Holdings (headquartered in Nanjing, China), has failed to repay the outstanding balance on a loan from Oaktree that matured on May 21. That ...
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News briefsBrooks taps Icebreaker’s GM EMEA as Managing Director for Europe, Middle East, Africa
Source: Icebreaker Josh Vaughan Brooks Running, a Berkshire Hathaway subsidiary, announced the appointment of Josh Vaughan as its new Managing Director EMEA, effective Aug. 1. Vaughan will be responsible for leading Brooks’ business and team across the region. “We are very pleased to welcome Josh to Brooks,” ...
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News briefsImperial acquires Pukka, bolsters position in custom headwear market
Imperial, now under the ownership of CPC, announced the completion of its acquisition of Pukka, Inc., a custom headwear company based in Findlay, OH. Known for its designs in golf, action sports, and team sporting goods markets, Pukka’s existing management team and operational structure will remain intact. Todd Johnson, CEO ...
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News briefsChampion unveils weighted hoodie to enhance mental health support
Champion has unveiled its latest product, the Champion Weighted Hoodie. This adaptive apparel prototype is designed to promote mental health and provide comfort. The hoodie integrates weighted technology commonly used in therapeutic blankets, inspired by a brand survey where over ninety percent of 19 to 35-year-olds ...
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News briefsFanatics secures retail and merchandising partnership with golf’s R&A
Fanatics has secured an extensive omnichannel retail and merchandising partnership with the R&A, the governing body for golf outside of the USA and Mexico. This long-term agreement encompasses e-commerce, event and physical retail, memorabilia, and licensing rights for The Open and AIG Women’s Open. Under the deal, Fanatics will manage ...
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News briefsQ1 revenues top $22 billion at Tencent
Tencent Holdings, one of China’s two internet behemoths (alongside Alibaba), has posted first-quarter revenues of 159.5 billion renminbi ($22.5bn), up 6 percent year-on-year, along with a gross profit of RMB 83.9 billion ($11.8bn), up 23 percent. Non-IFRS operating profit was up 30 percent, to RMB 58.6 billion ($8.3bn), while non-IFRS ...
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News briefsGlobal fitness equipment market to accelerate at a CAGR of 3% by 2033
According to a new report by research firm Allied Market Research, part of Allied Analytics, the global fitness equipment market is expected to reach $18.4 billion by 2033, representing a compound annual growth rate (CAGR) of 3.02 percent from 2024 to 2033. By type, the cardiovascular training equipment segment was ...
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News briefsWomen’s tennis and Saudi investment fund announce multi-year deal
The Women’s Tennis Association (WTA) and Public Investment Fund (PIF) have unveiled a multi-year partnership that is meant to grow women’s professional tennis and inspire more women and girls around the world to take up the sport. As part of the agreement, PIF will become the first-ever naming partner of ...
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News briefsZalando reshuffles its management
Zalando will be switching up its C-suite come Sept. 1 to match the change in plans that it announced in March. The objective is to increase market share in “pan-European fashion” and “lifestyle e-commerce” through B2C and B2B expansion. Co-founder David Schneider will be giving up the post of co-CEO ...
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News briefsJD Sports expanding in Iberia
JD Sports plans to open 23 stores and convert another 15 stores to the JD banner in Spain and Portugal, according to Diffusion Sport. Chief among the new ones will be locations in Barcelona and Tenerife. This could be a first stage or a modification of the plan we reported ...
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News briefsPeloton shares drop as company announces $275m debt offering and refinancing plans
Shares of Peloton Interactive, Inc. tumbled by 16.3 percent following the announcement of the company’s plans for a comprehensive global refinancing effort. The fitness giant revealed it would issue $275.0 million in convertible senior notes due in 2029 as part of a private offering. Additionally, Peloton plans to secure a ...
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News briefsVendor of classic jerseys to expand in North America, thanks to outside funding
The Chernin Group (TCG) has invested $38.5 million into Classic Football Shirts (CFS), a mostly online seller of, as the name suggests, football jerseys. The outfit was born in 2006, when founders Matthew Dale and Doug Bierton (CEO), struggling to find an original jersey for the West German team of ...
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News briefsLululemon announces organizational restructure following Chief Product Officer’s departure
Lululemon has announced significant organizational changes following the resignation of Sun Choe, its Chief Product Officer, who is departing later this month to pursue a new opportunity. Choe’s exit marks the end of her seven-year tenure with the company, during which she significantly bolstered Lululemon’s product-focused leadership. Calvin McDonald, CEO ...
