All Corporations articles – Page 8
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News briefsNext SSU sub files for insolvency
Stuttgart-based Internetstores GmbH, which includes the bike and outdoor online shops Fahrrad.de, Bikester, Campz and Addnature, filed for insolvency at the Stuttgart District Court on Monday afternoon. The company is part of Signa Sports United (SSU), the sporting goods division of the Signa Group founded by Austrian investor René Benko. ...
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News briefsFarfetch receives EC clearance to buy stake in Yoox Net-A-Porter
Farfetch, the Internet platform for luxury goods, is cleared by the European Commission to acquire a 47.5 percent equity stake in Yoox Net-A-Porter (YNAP) in exchange for Farfetch Class A ordinary shares going to Richemont, a publicly traded company on the Swiss Exchange that operates three luxury business units. Yoox, ...
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News briefsSSU: Tennis-Point insolvency will be followed by further insolvencies
According to information released after the insolvency of Tennis-Point GmbH, the parent company Signa Sports United (SSU) is preparing to open further insolvency proceedings in the coming days. Further insolvency applications for other legal entities of the SSU Group, “including Signa Sports United N.V.,” are in preparation, the company stated. ...
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News briefsNike’s employees at its global HQ will return to office four days a week
Starting in January, the Nike employees at its Oregon headquarters will be required to work in the office four days a week, The Oregonian/OregonLive has reported. Nike’s current policy requires workers to be in the office three days a week. “We’ve seen the power and energy that comes from working ...
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News briefsNautilus, Inc. to change corporate name to BowFlex Inc.
Nautilus, Inc. has confirmed plans to change its corporate name to BowFlex Inc. to focus on the company’s strongest consumer brand and further execute its growth strategy called North Star. “Over the last few decades, BowFlex has become a powerful brand in our portfolio, recognized for quality and innovative strength ...
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News briefsNBA sponsorship revenues for the 2022/23 season hit $1.66bn
The National Basketball Association (NBA) posted record sponsorship revenues of $1.66 billion during the 2022/23 season, representing a 1.3 percent increase from the previous year, according to a study by Chicago-based sponsorship consultancy IEG. The figure, reported by Forbes, includes league, team and venue sponsorship rights fees while it excludes ...
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ArticleFirst SSU subsidiary files for insolvency
Rumors are swirling: While Signa Sports United (SSU) offshoot Internetstores GmbH (Addnature, Bikester, Brügelmann, Campz, Fahrrad.de, Probikeshop) is said to have informed its suppliers of impending insolvency in self-administration and British affiliate WiggleCRC is believed to have done the same in its home country, German Tennis-Point GmbH has already filed ...
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ArticleVF Corp. investor pushes for turnaround plan
In a presentation, California-based activist investor Engaged Capital outlined that the parent company of Vans, The North Face (TNF), Timberland, Supreme and others is suffering from bloated overhead that is driving down shareholder value and called for a more detailed turnaround plan for VF Corp. It said that the overhead ...
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News briefsSpanish retailer solidifying its image
According to Diffusion Sport, Atmósfera Sport has spent the year unifying its corporate image in its stores. The Spanish retailer began the refurbishments in January with 37 stores and by September had raised the number to 68, with another 50 or so planned for early 2024. Its 335 franchisees operate ...
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News briefsPolartec launches new brand ethos
Sending its press release from “Planet Earth, the Universe,” Polartec announced a new brand ethos, “Made To Go Beyond.” The new positioning and identity represent an evolution for the brand owned by Milliken & Company and form the foundation for future communications, reflecting and resonating with changing consumer values and ...
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News briefsLargest SSU shareholder terminates unconditional equity commitment
Shortly after deciding to delist from the NYSE, Signa Sports United (SSU) announced that it had received a termination notice regarding the unconditional equity commitment letter from Signa Holding GmbH, a privately held Austrian real estate and retail company and a subsidiary of the company’s largest shareholder, Munich-based Signa International ...
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ArticleGerman retail chain SportScheck to be acquired by Frasers
Frasers Group announced that it has reached a binding agreement with Signa Retail Department Store Holding GmbH to acquire German sports retailer SportScheck. Signa had once acquired SportScheck from the Otto Group. The most recent news surrounding Signa already suggested that some of its brands might be divested from the ...
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News briefsAnta Sports buying majority stake in women’s activewear firm
Anta Sports is taking action to acquire an approximate 75 percent stake in Mayiya Clothing (Shanghai) Co., Ltd. for an undisclosed sum. The company, founded in 2016, markets the Maia Active sportswear brand for Asian women with a principal focus on the yoga sports category. Anta sees the acquisition bolstering ...
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News briefsSpanish retailer Oteros Sport exits bankruptcy and draws expansion plan
Spanish athletic footwear retail chain Oteros Sport, which entered bankruptcy in September 2022 due to the impact of the Covid-19 pandemic, has announced that it has been authorized by a commercial court in Cordoba to continue its operations. The company is therefore maintaining its 66 locations and 249 jobs and ...
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News briefsWattbike secures new financing
UK-based exercise bike manufacturer Wattbike has secured third-party financing to fund its international expansion strategy and launch “an exciting new product,” and expand its digital offering. Founded in 2008, the company says it has a customer base that includes more than 500 Olympic medalists, top athletes, Premier League, NFL and ...
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News briefsFire at large Taiwanese golf ball factory may impact global market
A massive fire and explosion occurred on Sept. 22 in a factory at the Pingtung Technology Industrial Park in Pingtung County, Southern Taiwan, which produces golf balls for major brands. The fire reportedly killed nine people, including four firefighters, while more than 80 people were taken to the hospital, as ...
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ArticleFitFlop targets pan-European expansion with new logistics partner
The London-based footwear company FitFlop has selected Bleckmann as its partner to provide omnichannel logistics for its clients in the UK and the EU. The five-year agreement is designed to support FitFlop’s “rapid growth in its home market while providing scope for streamlined expansion across the EU,” according to a ...
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News briefsFrasers Group acquires greater stake in XXL
XXL’s share price rose significantly on the Oslo Stock Exchange after Britain’s Frasers Group acquired 117 million shares in the troubled Norwegian sporting goods chain on Tuesday, now owning 162 million shares, which – according to E24 – equals 9.75 percent of the total shares and 12.16 percent of the ...
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ArticleThe Beachbody Company unveils new growth plan
California-based subscription health and wellness company The Beachbody Company (BODi) announced a key initiative as part of its comprehensive turnaround plan to restore growth and generate positive cash flow using new tools and incentives more closely aligned with productivity. BODi’s “Growth Game Plan” aims to reward the best-performing network distributors ...
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ArticleUYN opens AREAS research center in Italy
The Italian technical sportswear brand UYN (Unleash Your Nature) unveiled its new research and development lab on Oct. 5 in Asola, Italy. AREAS is a 3,500-sqm, two-story building immediately adjacent to the headquarters of Trerè Innovation, the company behind the UYN brand. The modern building houses the new research and ...
