News Briefs – Page 97
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News briefsL.A. football club and Klarna release capsule
Angel City Football Club (ACFC) and one of its founding partners, the payment and shopping platform Klarna, have launched a small collection for women’s sports called Un Nuevo Amanecer (A New Dawn). The windbreaker, bucket hat and fanny pack were designed by Suay Sew Shop of Los Angeles and are ...
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News briefsAllbirds co-CEO to take non-executive role
According to Securities and Exchange Commission filing (SEC) submitted by the footwear brand this week, Allbirds co-founder and co-CEO Tim Brown is set to transition out of the role of co-CEO. Brown will now hold the non-executive role of co-founder and chief innovation officer. Joey Zwillinger (current co-CEO) is to ...
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News briefsAdidas' new concept for Canadian outlet stores
Adidas has developed a new store concept to be rolled out in Canada, according to Retail Insider. “The Pulse” concept will be the German brand’s “premium factory outlet concept for the foreseeable future,” as vice president of retail for Canada Lesley Hawkins told the publication. The design is to include ...
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News briefsAnother executive change at Thule Group announced
Thule Group has announced that Jonas Lindqvist is to leave his position as Chief Financial Officer, in agreement with the company. Lindqvist has been the CFO of the Thule Group since 2020 and will remain in his role until his successor is in place. The recruitment process for a new ...
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News briefsY-3 and Adidas take on the running shoe
In the latest in its ongoing collaboration with with Japanese fashion designer Yohji Yamamoto, Adidas has for the first time released a capsule collection of running sneakers under his Y-3 brand. Yamamoto describes the Y-3 brand as a “blend of sport and style and the tension caused by mixing tradition ...
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News briefsSneaker re-selling platform WeTheNew announces €20 million capital funding round
French-based limited-edition sneaker re-selling platform WeTheNew has announced a €20 million capital funding round. The Series B funding round was led by C4 Ventures, along with Singular – the company’s historical investor – the investment arm of Chalhoub Group, Chalhoub Ventures & Acquisitions, and also supporting the venture is French ...
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News briefsPeloton recalls 2.2 million bikes, share price drops
In conjunction with the U.S. Consumer Product Safety Commission, the connected fitness company Peloton is recalling 2.2 million of its model PL01 bikes due to a potentially faulty seat that caused a reported 13 injuries to consumers that included a fractured wrist, lacerations and bruises. Source: Peloton ...
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News briefsSympatex partners with ColorDigital
Sympatex has partnered with DMIx by ColorDigital GmbH to enhance its workflows and supply chain through digitalization. DMIx’s platform enables virtual collection development, allowing parties to share designs digitally in real-time and reduce the number of physical material samples produced and transported, thus minimizing waste, CO2 emissions, water usage and ...
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News briefsNew MD of Puma India announced
Puma has appointed its current Global Director Retail and e-Commerce Karthik Balagopalan as the new Managing Director of Puma India, one of the company’s fastest growing markets. Balagopalan replaces Abhishek Ganguly, who worked for Puma’s Indian business for 17 years and has been the Managing Director of Puma India since ...
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News briefsKMD Brand’s Kathmandu appoints new CEO
KMD Brands has apointed Megan Welch, most recently SVP/GM for Crocs’ Asia/Pacific business based in Singapore, as the new CEO for its Kathmandu business unit starting on Aug. 7. She takes over and will report to Michael Daly, KMD’s group CEO and managing director, who added the Kathmandu responsibilities on ...
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News briefsJD Group appoints new CFO
JD Sports Fashion Plc has announced the appointment of Dominic Platt as its new Chief Financial Officer and as a member of the Board. Platt is expected to join the JD Group later this year. Platt is currently CFO of BGL Group, one of the UK’s leading digital distributors of ...
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News briefsYue Yuen Q1 results impacted by soft global footwear demand
High inventory levels across the industry coupled with softer global footwear demand negatively impacted Q1 results at Yue Yuen. Ebit fell by 32.2 percent to $65.9 million from $97.1 million for the period ended March 31. Net profit attributed to the company declined by 42.6 percent to $50.8 million from ...
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News briefsWorld Athletics and the WFSGI to deepen collaboration
The World Athletics and the World Federation of Sporting Goods Industry (WFSGI) have signed a Memorandum of Understanding (MoU) to continue and strengthen their collaboration. (L) Sylvia Barlag, World Athletics Council Member and Co-Chair of the Shoe Working Group and (R) Robbert de Kock, President and CEO of ...
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News briefsPou Sheng’s Q1 benefits from China recovery
Helped by the gradual recovery of in-store traffic and an acceleration in its digital business, Pou Sheng Intl. reported a 71.0 percent increase in Q1 operating income to yuan renminbi 332.7 million (€43.8m) from RMB 194.5 million as the operating profit margin increased by 220 basis points to 5.7 percent ...
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News briefsUnder Armour wins trademark lawsuit
Under Armour has won a trademark infringement lawsuit against Aditya Birla Fashion and Retail Ltd. Under Armour filed the lawsuit after it came across the defendant using the logo “Street Armor” on sports apparel. The Delhi High Court ruled that logos and motifs used by Aditya Birla Fashion and Retail ...
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News briefsNike announces new board member
Nike, Inc. has announced a new member of its Board of Directors, Maria Henry. Henry was Chief Financial Officer of Kimberly-Clark Corporation from April 2015–April 2022, and served as Executive Vice President and Senior Advisor of Kimberly-Clark Corporation from April 2022 until her retirement in September 2022. Prior to ...
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News briefsAdidas strikes deal for “gated” blockchain products
Through its /// Studio (read: three stripe studio), Adidas has struck a three-year deal with Tokenproof, which will authenticate blockchain tokens for the Adidas Confirmed app. The arrangement will provide an in-app checkpoint through which only holders of the NFT collection ALTS by Adidas can purchase certain ...
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News briefsAllbirds reports wider loss but outlines cost-saving measures
Having already revealed plans to slow the pace of U.S. store openings and a movement to a distributor model in key international markets, Allbirds reported a Q1 net loss of $35,166,000 against a loss of $21,878,000 for the period ended March 31.
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News briefsGrupo SBF adjusted Ebitda rises by 11.1 percent
Grupo SBF, the operator of Brazil’s top sporting goods chain in Centauro, posted 11 percent improvement in adjusted Ebitda to 205.9 million Brazilian reais (€38.4m) for Q1 ended March 31. Gross margin increased by 380 basis points to 50.0 percent from 46.2 percent, the highest margin as a group since ...
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News briefsMammut’s partnership with Climeworks continues
After first signing a a “Carbon Dioxide Removal (CDR)” agreement with the Swiss company Climeworks in Feb. 2023, Mammut is continuing its partnership with the direct air capture technology maker via a challenge on its Strava channel. Mammut is calling on members of its Strava club to run a minimum ...
