All Corporate articles

  • Article

    ABG sees Reebok reaching $10 bn at retail

    2021-11-30T18:15:00Z

    Jamie Salter, CEO of the Authentic Brands Group (ABG), told Footwear News that he sees Reebok growing by more than 20 percent in 2022, generating more than $5 billion worth of sales at the retail level. He added that ABG’s goal is to take the brand’s retail sales up to ...

  • News briefs

    Hydro Flask’s owner adds Osprey Packs

    2021-11-30T17:34:00Z

    Helen of Troy, the American group that owns Hydro Flask and many other operations, has announced that one of its subsidiaries has entered into a definitive agreement to acquire Osprey Packs, the backpack manufacturer founded in California in 1974. The group said it sees synergies with its Hydro ...

  • Article

    Snowleader moves into larger premises

    2021-11-29T17:37:00Z

    Snowleader, a leading online retailer of outdoor and snow sports products based in the Savoy region of France, has moved to a larger, eco-friendly office of 3,000 square meters at Epargny, near Annecy, while inaugurating a new and bigger automated warehouse at a different site further away at Versoud. The ...

  • News briefs

    JD goes for a five-for-one stock split

    2021-11-26T18:08:00Z

    With 100 percent of the votes cast in favor of a proposed resolution, a general shareholders’ meeting of JD Sports Fashion decided on Nov. 26 to divide each ordinary share of 0.25 pence into five ordinary shares of 0.05 pence. The 5,158,135,745 new shares, all with voting rights, will start ...

  • News briefs

    Rudholm Group acquires Euro Brand Management for sustainable packaging

    2021-11-26T18:07:00Z

    The Rudholm Group (RH), a Swedish-based supplier of garment accessories, packaging and logistical services for apparel producers, has taken over Euro Brand Management (EBM), a Munich-based company specializing in sustainable packaging and supply chain management solutions in all the segments of the footwear market. Founded in 1951 by the eponymous ...

  • News briefs

    A second logistics hub for growing Intersport France

    2021-11-25T16:58:00Z

    Intersport France has launched the project for the establishment of a second logistics platform of 84,000 square meters in the area of Château-Renault in the Loire Valley, in collaboration with local authorities. Scheduled to go on stream in 2024, it would employ about 150 people at the start, growing to ...

  • News briefs

    Rossignol sells Felt Bicycles to Pierer Mobility

    2021-11-23T18:03:00Z

    The Rossignol Group has agreed to sell its American brand of road and racing bicycles, Felt, to the Pierer Mobility Group, a European leader in “powered two-wheelers,” including motorcycles and e-bikes, based in Austria. In announcing the move, without mentioning the agreed price, the French company explained it with a ...

  • Article

    Shelving IPO plans, ABG brings in two new investors

    2021-11-22T18:15:00Z

    Placing on hold its plans to go public, as previously announced in July, the Authentic Brands Group (ABG) has decided to stay private. Instead of going for an IPO at this stage, some existing shareholders will sell significant stakes in ABG to funds advised by the private equity company CVC ...

  • News briefs

    S&P improves Callaway's outlook to stable

    2021-11-22T17:20:00Z

    Callaway Golf’s better-than-expected results have led Standard & Poor’s to upgrade its outlook for the company and its TopGolf subsidiary from negative to stable, while affirming their present credit ratings. Both S&P and Moody’s had been skeptical because of Callaway’s high debt and TopGolf’s losses. With Callaway reporting better sales ...

  • News briefs

    Karakoram to make snowboard bindings at a new U.S. factory

    2021-11-22T17:08:00Z

    While continuing to get them made in the U.S., Karakoram, the American supplier of splitboard bindings founded by Bryce and Tyler Kloster in 2008, will move into a new factory in North Bend, Washington state, close to the mountain region around Snoqualmie Pass. The company has just come out with ...

  • News briefs

    Nike raises its quarterly dividend

    2021-11-19T17:30:00Z

    Despite the current supply chain challenges, Nike’s board of directors has decided to grant a quarterly cash dividend of 30.5 cents per share to its shareholder on Dec. 28, for an increase of 11 percent versus the previous quarterly dividend. Noting that this is the company’s 20th consecutive year of ...

  • Manchester United
    Article

    Indebted ManUnited to issue shares to its fans

    2021-11-18T16:21:00Z

    Manchester United fired Ole Gunnar Solskjaer, the Norwegian team manager hired three years ago, after the English football club lost 4-1 against Watford on Saturday Nov. 20, its fifth defeat in the first seven matches of this season’s Premier League. The dismal score, which is infuriating the club’s fans, will ...

  • News briefs

    Peloton offers over $1.1 bn in new shares

    2021-11-17T18:25:00Z

    With its cash flow turned negative by $522 million at the end of its September quarter, Peloton Interactive has decided to launch a secondary offering for 23.9 million Class A shares priced at $46 each to raise $1,099 million. It is also proposing an over-allotment of $150 million depending on ...

  • News briefs

    Intersport Spain has sold its HQ

    2021-11-10T18:10:00Z

    According to CMDsport, Intersport Spain will be moving out of its headquarters in the city of Rubí, in the province of Barcelona, on Nov. 19. The buying group inaugurated the site in 1989 and has now sold it, for some $5 million, to an as yet unnamed investment fund. It ...

  • Article

    Alpargatas sells Osklen to Dass to develop Havaianas more widely

    2021-11-10T16:09:00Z

    Completing its reorganization, Alpargatas is divesting its 60 percent stake in Osklen, a Brazilian brand of sustainable surf- and skate-inspired clothing and footwear, to focus on Havaianas, the big international brand of rubber sandals. Alpargatas had already transferred its regional Mizuno license to Vulcabras, parent company of Olympikus, in the ...

  • News briefs

    No immediate plans for Gymshark’s IPO

    2021-11-09T17:09:00Z

    Indicating that Gymshark’s sales almost doubled to £400 million (€470m-$543m) in the 12 months ended in July, Ben Francis, the young co-founder and CEO of the nine-year-old British fitness apparel company, tells The Financial Times that there are no immediate plans for it to go public. He confirmed that he ...

  • News briefs

    Allbirds’ IPO proceeds rise to $348 million

    2021-11-09T17:09:00Z

    The underwriters of Allbirds’ public offering fully exercised an over-allotment option to purchase additional shares, which was not surprising in view of the doubling in the initially offered price of $15 a share in the course of trading. All in all, Allbirds has placed a total of 16,850,799 shares, raising ...

  • PUMA-Headquarters4
    News briefs

    Puma opens new North American HQ

    2021-11-05T18:02:00Z

    Puma has inaugurated new headquarters for North America. Located at Assembly Row in the Boston suburb of Somerville, the 150,000-square-foot office combines the staffs – about 450 employees – from two offices in Boston proper and Westford. It was designed by the architectural firm Gensler and built by Timberline Construction. ...

  • Allbirds
    Article

    Expanded: Allbirds doubles its valuation as it goes public

    2021-11-03T17:48:00Z

    Allbirds, the California-based producer of Wool Runner merino shoes and other eco-friendly sneakers and apparel sold in a direct-to-consumer mode, started trading on the Nasdaq exchange under the ticker symbol BIRD at an opening price of $21.21 per share on Wednesday, Nov. 3. That was more than 40 percent above ...

  • News briefs

    Reebok’s founder gets Drapers’ Lifetime Achievement Award

    2021-11-03T17:23:00Z

    Joe Foster, who founded Reebok along with his late brother Jeff in 1958, received this year’s Life Achievement Award from the British Drapers magazine, coinciding with the sale of the brand to the Authentic Brands Group. Foster stepped back in 1989, and the move made the front page of the ...