Corporate and M&A – Page 6
-
ArticleRecord year for Sport 2000 International
Sports retail group Sport 2000 International looks back on a very successful year, closing FY22 with gross sales of €6.5 billion. With the goal of becoming “an agile, future-oriented premium retail service organization,” the company is initiating a transformation and growing even closer together as an international sports retail network. ...
-
ArticleChanging the game: First volleyball brand dedicated exclusively to female players
Avoli, the first and only sports brand dedicated exclusively to the performance needs and demands of women’s and girls’ volleyball, has announced its official launch in the U.S. with the support of angel investors who recognized “the brand’s tremendous potential in the rapidly expanding landscape of girls’ volleyball.” The sport ...
-
ArticleBank merger: UBS completes acquisition of Credit Suisse
UBS, the major Swiss bank headquartered in Zurich and Basel, completed the emergency takeover of Credit Suisse on June 12. The acquisition ”marks the beginning of a new, historic chapter,“ UBS Group wrote in a press release. Swiss authorities arranged the disputed emergency bailout of Credit Suisse by UBS for ...
-
ArticleManchester City replaces Real Madrid as the world’s most valuable football brand
Manchester City FC has surpassed Real Madrid CF as the world’s most valuable football club brand, ending Real Madrid’s four-year streak at the top. According to “Football 50 2023,” the annual football club valuation report by Brand Finance, Manchester City has reached a brand value of €1.51 ...
-
ArticlePGA Tour, DP World Tour and LIV Golf merge into new commercial entity
The PGA Tour, DP World Tour and Saudi-backed Public Investment Fund (PIF) have announced a “landmark agreement to unify the game of golf on a global basis.” The transformational agreement combines PIF’s golf-related commercial businesses and rights (including LIV Golf) with the commercial businesses and rights of the PGA Tour ...
-
ArticleSkechers announces progress on inventory and international business
At Deutsche Bank’s Global Consumer Conference, Skechers told investors that demand, traffic and conversion rates remain healthy. However, the lingering impact of the summer 2022 retail inventory build is still expected to be a headwind for the rest of 2023. The U.S. wholesale market has helped support the bottom line ...
-
ArticleAuthentic acquires intellectual property of Hunter
After several weeks of negotiations, Authentic Brands Group (Authentic) has acquired the intellectual property of Hunter, the British brand known for its iconic Original Wellington boots. With more than 160 years of heritage, the Hunter brand has evolved from a rubber boot to a lifestyle brand offering an extensive footwear ...
-
ArticleU.S. and European e-com aggregators join forces
Source: SellerX SellerX co-founders Philipp Triebel (left) and Malte Horeyseck Berlin-based SellerX has signed an agreement to acquire Austin, Texas-based Elevate Brands, bringing together two major players in the e-commerce aggregator space. Both companies have established themselves as highly trusted and reputable partners for marketplace-based sellers in ...
-
ArticleMaterialise and Vuzix cooperate in smart glasses
Smart glasses supplier Vuzix and 3D-printing company Materalise have announced the start of their collaboration in the area of consumer smart eyewear, a market that is believed to be on the verge of mass adoption after years of development. As previously reported by our sister publication Eyewear Intelligence, the US-based ...
-
ArticleWeSports relaunches Keller Sports, enters partnership with Footway Group
WeSports has completed the acquisition of the trademarks, e-commerce platform and customer database of Keller Sports and KellerX. Facing financial challenges due to the impact of Covid-19, the German Keller Group – then the parent company of Keller Sports, Keller X, Keller Premium and Keller Smiles – filed for insolvency ...
-
ArticleLululemon expands global HQ in Vancouver
The Canadian government issued a press release on May 25 stating that “the expansion of Lululemon’s global headquarters in its hometown of Vancouver promises to significantly boost British Columbia’s prosperity.” The release also indicates that the Canadian athleisure brand is committed to growing and investing in the creation of more ...
-
ArticlePeloton starts "next chapter" with brand and app relaunch
After teasing details in its Q3 financial release, on May 23, Peloton initiated a complete relaunch of its brand in all of its five global markets. Peloton calls this the “next chapter,” in which the company moves away from the perception of an at-home trainer “to reflect everything Peloton has ...
-
ArticleDue to looming business closure, Bleed seeks community support
Source: Bleed Founder and CEO Michael Spitzbart would like to save his company. Bleed, a sustainable outdoor label from southern Germany, should be celebrating its 15th anniversary this year. However, in an open letter and video on the brand’s website and Social Media (German-language video below), founder ...
-
ArticleSurf icon Kelly Slater launches sustainable footwear brand
Eleven-time world champion surfer Kelly Slater has launched a new sustainable footwear brand, KLLY. Slater says KLLY Footwear fills a niche in the footwear industry by withstanding the rigors of daily wear and outdoor adventures while helping to reduce the fashion industry’s environmental impact. The first product in the KLLY ...
-
ArticleWahoo founder buys fitness company back from banks
Facing a liquidity shortage and the possibility of default, the U.S. training equipment manufacturer Wahoo Fitness has fully recapitalized its company and eliminated all debt under the leadership of company founder Chip Hawkins and “equal” investors, new and existing (Rhône Group, David Wichmann of Jory Capital & Human Powered Health, ...
-
ArticleAqualung expects double-digit growth in 2023, pursues “Horizon 2027” strategy
The Aqualung Group initiated a global plan 8 months ago, “Horizon 2027,” aimed at expanding its global leadership position in diving equipment, including for military and professional applications, as well as high-performance water sports products. The renewed executive team, led by Bruno Cercley, President and CEO since December 2022, is ...
-
ArticleMichelin Soles expands to the US
JV International Srl, an Italian manufacturer of engineered soles and worldwide licensee of Michelin Soles, has expanded to the USA to further expand its global presence. Founded in 2013, the Italian company has already been able to strengthen its presence on two important continents for the development of footwear: Europe ...
-
ArticleAdidas to sell Russian business
Adidas mulls selling its Russian business to another foreign investor or passing it to local management, Russian newspaper Kommersant reported, citing sources on the local market. One of the sources claimed that the eventual target is to relaunch the 100 most profitable stores, which have stood idle since October 2022. ...
-
ArticleUnit of JD Sports to take over Gap France
Following on from April’s decision in which Intersport France had the winning bid to acquire the Go Sport Group in a joint venture with the Qatari firm Al-Mana, Spodis – a unit of JD Sports Fashion – has been chosen by a Grenoble-based commercial court as the buyer of part ...
-
ArticleAdidas may have a solution for Yeezy inventory
Reports coming from Adidas’ “Hauptversammlung” (AGM) indicate that the company may now have a solution for the surfeit of Yeezy inventory it finds itself left with after terminating its partnership with rapper and fashion designer Ye (formerly known as Kanye West). As reported in its Q1 call last week, if ...
