Corporate and M&A – Page 9
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ArticleWolverine establishes new brand structure, sets bigger focus on profit
Shares in the Merrell, Saucony, Keds and Sweaty Betty declined more than 34 percent yesterday after the company missed its third-quarter earnings target and lowered its guidance for the FY. Wolverine World Wide Inc.’s shares are down 59 percent year-to-date. The full-year outlook calls for 14 percent currency-neutral revenue growth ...
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ArticleLiverpool FC up for sale?
Boston-based Fenway Sports Group (FSG) has confirmed that it is ready to listen to offers for the historic, world-renowned English soccer club Liverpool FC. This was reported by several publications, including Bloomberg and The Athletic, citing “people familiar with the matter.” According to The Athletic, the sports investment firm has ...
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ArticleL Catterton launches impact fund platform
Consumer goods-focused private equity firm L Catterton, owner of footwear brand Birkenstock, has announced the formation of an impact investing platform and the appointment of Tehmina Haider and Michael O’Leary as partners to lead the strategy. Called the Impact Fund, the platform will partner with the next generation of mission-driven ...
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ArticleSkechers escorts West out of L.A. corporate building
Slowly but surely, Kanye West should realize that he is no longer welcome due to the antisemitic, racist and hateful remarks he made recently across multiple forums. After the recent contract cancellations with Adidas, Balenciaga, CAA, MRC and Gap, Skechers USA now released a statement in which it reports that ...
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ArticleAdidas severs ties with Kanye West
“Adidas does not tolerate antisemitism and any other sort of hate speech,” the company said concisely in its official statement.
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ArticleAdidas completes second share buyback program in 2022
Adidas has completed its second share buyback program this year. On March 1, 2022, the company announced the launch of another share buyback program in mid-March to return cash proceeds from the Reebok divestment to its shareholders. In the period between March 14 and Oct. 10, 2022, the company repurchased ...
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ArticlePeloton’s ride to breakeven cash flow results in more layoffs
In an effort to continue to drive the business forward and achieve cash flow breakeven by the end of the current FY23, Peloton is laying off more employees. On Oct. 6, the connected fitness company announced another round of job cuts, the fourth in 2022. The latest action – the ...
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ArticleMicrosoft survey sees managers mistrusting hybrid working models
The vast majority of managers have difficulty trusting the productivity of their employees in hybrid work models.
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ArticleKanye West seeks to part ways with Gap
As our colleagues at the American edition of SGI are reporting, Kanye West has instructed his attorneys to cite breach of contract and end his deal with Gap. The rapper turned apparel and footwear designer has been badmouthing the company on Instagram as well as in the press, notably in ...
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ArticleThe Chouinard family transfers ownership of Patagonia: "Earth is now our only shareholder"
Source: Campbell Brewer Yvon Chouinard Nearly 50 years after founding Patagonia, Yvon Chouinard and his family (along with his children Claire and Fletcher) have decided to give away their company to ensure that all proceeds are used to fight climate change. The Chouinard family has transferred all ...
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ArticleGymshark opens first brick-and-mortar store
Gymshark has announced it will open its previously announced flagship store on Regent Street in London on Oct. 1. This first-ever brick-and-mortar store for the British brand will span around 1,700 square meters and feature several other functions in addition to the sale of Gymshark products and apparel. For example, ...
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ArticleCanada Goose shows optimism about consumer demand
Canada Goose is optimistic that its fiscal 2023 income statement will not include any red figures, as its luxury consumer base remains relatively unfazed by the market’s current woes. At the Goldman Sachs Global Retailing Conference, the company said the North American market will remain very healthy in 2023, while ...
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ArticleSport 2000 Austria well positioned for upcoming challenges
Source: SPORT 2000 Holger Schwarting, CEO Sport 2000 Austria, which is celebrating its 50th anniversary this year, is expecting slight sales growth in its anniversary year. ”The times are very eventful at the moment. On the one hand, sports retailers are benefiting from the megatrends of sports ...
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ArticleNew Wave Group acquires B.T.C. Activewear
New Wave Group, the Swedish parent company of Craft, Seger, Auclair, Derby of Sweden, D.A.D. Sportswear, Speedo and a dozen other sports and leisure brands, as well as roughly three dozen corporate, gift and home furnishings brands, has acquired 100 percent of B.T.C. Activewear Limited, a British promotional, corporate and ...
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ArticleCallaway Golf to change company name
Callaway Golf Company announced plans to change its corporate name to Topgolf Callaway Brands Corp. Following the company’s merger with Topgolf in 2021, “the name change reflects Callaway’s dynamic brand portfolio that has unmatched scale and reach across the full modern golf and active lifestyle ecosystem, including on- and off-course ...
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Article“This is bullshit”: Burton objects to article hinting at sale of company
Bloomberg News published an article speculating about a possible sale of Burton, without disclosing any details on the source or the potential buyer’s identities. According to Bloomberg, “the Burlington, Vermont-based company is working with an adviser on the potential sale, the people said, asking not to be identified discussing confidential ...
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ArticleWomen’s football in Europe to grow sixfold in commercial value by 2033
UEFA has launched a new report highlighting the potential for growth in the European women’s club and league game over the next decade. According to the report titled The Business Case for Women’s Football, women’s football could see a six-fold increase in its commercial value over the next decade, reaching ...
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Silver Lake to acquire Diamond Baseball Holdings
Endeavor Group Holdings has entered into a definitive agreement to sell Diamond Baseball Holdings (DBH), owner of ten Minor League clubs affiliated with six Major League Baseball (MLB) clubs: the Chicago Cubs, New York Yankees, San Jose Giants, San Francisco Giants, Atlanta Braves and Los Angeles Dodgers. The buyer is ...
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ArticleTenson sells ColourWear to Swedish Active Brands Group
Sweden-based Active Brands Group Scandinavia AB (not to be confused with Oslo, Norway-based Active Brands AS) announced the acquisition of ColourWear from Tenson, expanding its product portfolio in the board and ski apparel market and strengthening its position as a global distributor of consumer, health and sports brands. ColourWear was ...
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ArticleArchroma takes over Textile Effects business from Huntsman
The Swiss chemical solutions company Archroma (part of the U.S.-based investment firm SK Capital Partners) has entered into a definitive agreement to acquire the Textile Effects business from Huntsman Corporation. Huntsman Textile Effects was in the OIC news lately for its new PFC-free water repellent. The total enterprise value of ...
