All Corporate articles

  • News briefs

    NOBULL gets PE investment to diversify from training

    2021-04-16T15:25:00Z

    NOBULL , which defines itself as “a brand for people who train hard and don’t believe in excuses,” has received an unspecified investment from Exeter Capital, a new private equity firm in Boston, to help it to grow and expand its product line. The company, which recently took over ...

  • News briefs

    Macron gets involved in digital fitness

    2021-04-16T15:25:00Z

    Macron has announced a three-year apparel partnership with Fitbook , a virtual community for fitness trainers to promote and manage activities, information and events related to the world of fitness. While Macron specializes in the development and sale of team sports jerseys, it is based in the Italian city ...

  • News briefs

    Li & Fung launches digital incubator as a separate company

    2021-04-12T15:22:00Z

    Li Fung , the sourcing giant headquartered in Hong Kong, is launching LFX , a new and separate company designed to capitalize on new digital opportunities that can transform the retail industry and enable sustainability along the supply chain. Described as “an incubation, investment and operating platform,” LFX ...

  • News briefs

    Asos issues a £500 million convertible bond

    2021-04-12T12:55:00Z

    After its publication of excellent results for the first half ended Feb. 28, Asos announted an offer to sell £500 million (€577.5m-$686.6m) in senior unsecured guaranteed convertible bonds due in 2026. The bonds are being offered by the company’s wholly-owned subsidiary Cornwall . The proceeds will be ...

  • Signa Sports United
    Article

    Reportedly planning to go public, Signa Sports United boosts management

    2021-04-09T17:13:00Z

    Signa Sports United (SSU) , the online sporting goods retailing group controlled by Signa Retail , is in talks to go public through a merger with a blank-check SPAC company, Reuters reported. Quoting “two people familiar with the matter,” the news agency says the company is in preliminary talks ...

  • News briefs

    Sports Direct’s parent company warns Covid-19 could cost more than £200 million

    2021-04-09T16:04:00Z

    Frasers Group , the parent company of Sports Direct , has warned that it could take a hit of more than £200 million (€230m-$275m) due to Covid-related restrictions. This would be double the previous estimate it had made in February, when the company said it expected that the pandemic crisis ...

  • StockX picture
    Article

    StockX’s value surges to $3.8 billion

    2021-04-09T12:59:00Z

    StockX , the American online market for sneakers, raised $195 million in a secondary tender offering by some of its employees’ shares and an additional $60 million in Series E-1 primary shares at a $3.8 billion valuation. Altimeter Capital led the all-cash offer, with the participation of existing investors ...

  • News briefs

    S&P downgrades Callaway for its merger with Topgolf

    2021-04-08T17:10:00Z

    The pro forma debt/Ebitda ratio of about 8 times given for the company formed by the merger of Callaway Golf with Topgolf has led Standard Poor’s to downgrade the credit rating of Callaway to B from B+, and the agency indicated that it could lower ...

  • News briefs

    Former Nike executives help found minority-owned sports marketing agency

    2021-04-07T16:45:00Z

    Three former Nike executives – David Creech , president of brand creative for global men’s; Nicole Graham , vice president of global brand marketing; and Josh Moore , vice president and global head of design for digital, stores and content – have joined the sports agent Rich Paul ...

  • Article

    Unmade expands collaboration with New Balance to teamwear

    2021-04-07T16:43:00Z

    A London-based software company, Unmade , is expanding its collaboration with New Balance Team Sports from footwear to team clothing in the U.S. A spokeswoman for New Balance says there are no plans to implement the project in Europe, but we find it interesting enough to report about it. ...

  • Bardon Fulfilment Centre
    News briefs

    VF’s new fulfillment center for the U.K. begins operations

    2021-04-07T13:34:00Z

    Working through a local subsidiary, VF Northern Europe , VF Corporation has begun operations at its new fulfillment center in Bardon, Leicestershire, which will employ about 250 people at peak times. The new 55,800-square-meter center will have “state-of-the-art automation capabilities putting it at the forefront of the footwear and ...

  • Puma Logistics Center Geiselwind
    News briefs

    Puma starts shipping online orders from its new German DC

    2021-04-07T13:32:00Z

    After more than two years of construction, Puma ’s new distribution center in Geiselwind, Germany, started to operate on Apr. 6. It will help the company to better fulfill its online orders, which have remained until now relatively low as compared to those of Adidas or Nike . With ...

  • News briefs

    HandsFree Labs, licensor for Nike's Go FlyEase, gets $3 million in funding round

    2021-04-07T13:32:00Z

    HandsFree Labs , the Utah-based company that partnered with Nike to create the Go FlyEase laceless clog due to become available on nike.com on Apr. 30 for $120 per pair, has raised $3 million in a new round of funding led by the Frazier Group . The ...

  • News briefs

    Moody’s confirms Adidas’ A2 rating

    2021-04-06T17:09:00Z

    Completing a periodic review of Adidas , the rating agency Moody’s confirms its A2 credit rating; which it assigned one year ago when the group obtained a €3 billion loan to prop up its liquidity during the coronavirus pandemic. Moody’s mentioned among the positive factors Adidas’ long track record, ...

  • News briefs

    Lenders take control of Sequential’s board

    2021-04-05T14:43:00Z

    Four out of the eight members of Sequential Brands Group ’s board of directors have resigned as required by the extension until Apr. 19, 2021 of a credit agreement with Wilmington Trust and other lenders. The remaining members on the board represent mostly lenders such as KKR and ...

  • News briefs

    New shareholders and new deal with Superdry for We aRe SpinDye

    2021-04-02T17:14:00Z

    Five shareholders have bought half of the shares held in We aRe SpinDye (WRSD ) by its chairman, Christian Rasmussen , reducing his stake to 13.29 percent. The shareholders are Ilja Batljan, Patrik Tillman, Rutger Arnhult, Stefan Hansson and Erik Björklund . They paid a total ...

  • Short stops

    CORPORATE AND M&A

    2021-04-01T16:00:00Z

    +++ Perfect Moment , the high-end fashion and sportswear brand founded by Thierry Donard , has closed a $6 million bridge loan financing in preparation for an IPO on Nasdaq later this year +++

  • News briefs

    Tonal mulls IPO after reaching a $1.6bn valuation, with no exports yet

    2021-04-01T15:57:00Z

    Tonal , which describes itself as the smartest home gym, has not yet shipped or installed its equipment outside the U.S., and its website says it doesn’t have a timeline on when it will make the move. After expanding in all the 50 other U.S. states, it became available in ...

  • News briefs

    Fishbrain secures $31 million in funding

    2021-04-01T15:36:00Z

    Fishbrain , the developer of a sport fishing app based in Stockholm, has raised $31 million in funding. The backers include Consensus Småbolagsfond and Adrigo Asset Management , as well as all main existing shareholders including B Capital Group and SoftBank Ventures Asia . Fishbrain will use ...

  • darrell-chaddock-RflvSEZU6mc-unsplash
    Article

    Uzbekistan to produce Nike and Adidas footwear for Asia, Europe

    2021-03-29T13:29:00Z

    The Uzbek company SinoInternational has inked an agreement to produce 3 million pairs of shoes in total under the Nike and Adidas brand names at its new factory in the Andijan region, starting from the fourth quarter of 2021. The facility is expected to achieve full production ...