News and insights about brands in the sporting goods industry – Page 83
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News briefsOberalp Group acquires manufacturer of raw material for ski touring skins
The Oberalp Group has announced the acquisition of Velotex from Pongs Velours. Velotex specializes in the production of mohair velvet, which is an essential product for ski touring skins, and other products for skiing. The closing of the transaction is scheduled for Jan. 1, 2022. The takeover allows Oberalp to ...
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ArticleNike beats Q2 estimates on strong North American showing
The Nike group reported higher-than-expected earnings and sales in the second quarter ended Nov. 30, as a strong performance in North America offset a continued slowdown in China and persistent, industry-wide supply chain challenges. In the quarter, Nike’s sales inched up by one percent to $11,357 million and were flat ...
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Article
Samurai is “pushing forward” beyond rugby
Capitalizing on the growing popularity of rugby and inspired by its values, Samurai is broadening the range of its apparel collections from teamwear into the wider lifestyle and athleisure sectors to address a wider community of consumers. It’s going to do this with a lot of story-telling on social media ...
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Article
Moody’s upgrades Under Armour’s rating, pointing to opportunities outside North America
In May, Moody’s had upgraded its financial outlook for Under Armour from negative to positive and improved other metrics, considering that its turnaround had been successful. This time, it upgraded its debt ratings further following better-than-expected recent increases in sales and earnings. Moody’s again praised Under Armour for the significant ...
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News briefs
Hanesbrands signs licensing deal with Wake Forest
Hanesbrands – along with its Champion and Hanes brands and its alternative apparel propositions – has signed a licensing deal with Wake Forest University, addressing its fans. However, Nike retains the exclusive contract with the U.S. university, based in Winston-Salem, for team, coach and staff uniforms and will continue ...
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News briefsMIPS moves up to Nasdaq Stockholm’s Large Cap segment
Following Nasdaq’s annual review of the market capitalization of listed companies, Mips AB, which is well known for its innovative helmet technology BPS (stands for “Brain Protection System”), is moving up from the Mid Cap to the Large Cap segment of Nasdaq Stockholm. The move will be effective on Jan ...
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ArticleAdidas releases its first NFT collection
As we reported earlier this month, Adidas has struck deals with three producers of non-fungible tokens (NFTs) on the Ethereum blockchain: Bored Ape Yacht Club (BAYC), gmoney and PUNKS comic. The fruit of those initiatives, a first collection of NFTs under the Adidas Originals brand of lifestyle products is slated ...
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News briefs
Aqua-Leisure buys Airhead to trigger synergies and to expand
The Airhead Sports Group, a company based in Denver, Colorado that has dealers in nearly 80 different countries, has become the property of Aqua-Leisure Recreation, another U.S. watersports equipment company based in Avon, Massachusetts. The goal is to implement synergies in R&D, sourcing and distribution. Airhead sells a variety of ...
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News briefs
Skechers extends and expands its credit facility
After booking record results for the third quarter, Skechers has expanded its senior unsecured credit facility from $500 million to $750 million, extending its maturity date from November 2024 to December 2025. It will retain a $250 million accordion feature that allows the company up to $1 billion worth of ...
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News briefs
Nitro and Burton sign licensing deal for boots
Nitro Snowboards has entered a licensing partnership with Burton Snowboards for boots compatible with the latter’s Step On binding platform. Nitro’s co-founder and president, Thomas Delago, says that the company has signed on to the partnership to prevent “confusion” and “unwanted stock” in the market. Settling on one platform will ...
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News briefs
Adidas launches a new €4 billion share buyback program
Adidas has announced the launch of yet another share buyback program that will involve investments of €4 billion until 2025, starting in January 2022. It has already bought back €1 billion worth of shares this year. Adding annual dividend payouts in a range of 30 to 50 percent of net ...
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News briefs
Nike reviews its advertising agencies
Nike is conducting a six-month review of its media agencies, covering an annual advertising budget of about $1 billion, according to a report in AdAge citing sources close to the matter. In addition to Wieden+Kennedy, the long-time primary media agency that created “Just Do It” and many other iconic campaigns ...
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News briefs
Mitre supports British campaign for the homeless
Backing a call for football clubs all over the U.K. to ditch their home shirts for their Boxing Day matches between Dec. 26 and 28, Mitre launched a specially designed Mitre x Shelter football on Dec. 10 on its website, mitre.com, pricing it at £12. The Pentland-owned brand has pledged ...
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News briefs
Slinger posts higher losses while sales double in Q2
Sales jumped by 106 percent to $5.4 million in the second quarter ended Oct. 31 for Slinger, the company that started to deliver its innovative, portable Slinger Bag tennis ball launcher at the end of 2019. However, the company’s operating loss expanded to $35.1 million from a loss of $0.2 ...
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Article
New Era Cap is refinancing itself
New Era Cap wants to refinance its existing debt, including the convertible bonds held by a minority shareholder, ACON Investments, after scoring major improvements in sales and profits in the last few months. The actual revenues of the U.S.-based headwear and apparel company, controlled by the Koch family since its ...
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News briefs
New Reebok licensee for India
The Authentic Brands Group (ABG) has picked a new licensee for Reebok in India and other ASEAN nations: Bangladesh, Bhutan, the Maldives, Nepal and Sri Lanka. The Indian company, Aditya Birla Fashion & Retail Ltd. (ABFRL) is already ABG’s local licensee for Forever 21 and Van Heusen. It also works ...
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News briefsSafilo’s Smith brand introduces custom, 3D-printed goggles
Safilo Group, the Italian eyewear company, has begun 3D-printing products through its American brand of sports glasses, Smith, with what it calls Imprint 3D Technology. One result is the Smith I/O MAG Imprint 3D goggle, which it claims to be the “first custom goggle built to the individual features of ...
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ArticleNike acquires a London-based digital assets producer, RTFKT
Nike has acquired RTFKT (pronounced “artifact”), which the sportwear giant describes in its press release as delivering “next generation collectibles that merge culture and gaming.” The terms of the deal will not be disclosed, said NIke. Founded as a company as recently as January 2020 – by Benoit Pagotto, ...
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News briefsFoot Locker launches its Cozi label of women’s apparel
Foot Locker has announced the global launch of its first private label of women’s apparel, Cozi, presenting it as “an apparel brand designed for women who keep up with trends, love sneakers and crave premium wardrobe staples at an affordable value.” It will be exclusively available in multiple sizes online ...
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News briefsMade to be remade: How Adidas wants to trigger systemic change
Eight months after announcing the new project of a climate-friendly running shoe in collaboration with Allbirds, Adidas has reported the planned launch on Dec. 15 of its Futurecraft.Footprint. With 2.94 kg of CO2 emissions per pair, Adidas describes the shoe as a personal best for both brands. The Futurecraft.Footprint is ...
