All Corporations articles – Page 18
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Article
Reebok e-com in Europe run by Farfetch, luxury sector expansion underway
Farfetch, a leading platform provider for the luxury fashion industry, has announced that the partnership with Reebok to run its European e-commerce sites, announced following the sports retailer’s acquisition by Authentic Brands Group from Adidas in 2022, has now been implemented. The partnership announced at the time involves restructuring the ...
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News briefs
On revises its financial reporting by geography
Swiss performance sportswear brand On announced that it will release its financial results for the first quarter of 2023 on Tuesday, May 16, which will also mark the first time it will update its net revenue reporting differently by region. Specifically, “Rest of World,” which represented the Middle East, Africa ...
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Nautilus sells namesake trademark, pays down debt
Nautilus, Inc. has completed the sale of non-core assets, including the Nautilus brand trademark assets and related licenses, for approximately $13 million. The connected home fitness solution company used the net proceeds from the divestiture to pay down part of its term loan. Additionally, the Bowflex parent has improved the ...
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Superdry confirms equity raise
As reported by RetailWeek, Superdry has officially announced a capital increase to strengthen its balance sheet as part of a turnaround program. The brand intends to raise gross proceeds of approximately £12 million (€13.6m) by issuing new shares in a placing and retail offering. Founder and chief executive Julian Dunkerton ...
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VeNetWork acquires Unimonteco and creates VeNeSport, a new sports shoes network in Italy
VeNetWork SpA, a business accelerator that brings together 73 entrepreneurs from Italy’s Triveneto area, has announced the creation of VeNeSport, a new network of companies with a focus on sports footwear. Innovation consultant Flavio Alberti will head VeNeSport as the network’s president. The first company to join the new network ...
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Skechers acquires Scandinavian distributor
Skechers has signed an agreement to acquire its existing Scandinavian distributor, Sports Connection Holding ApS. Sports Connection’s business includes 58 existing Skechers retail locations, several e-commerce solutions and more than 1600 wholesale customers. The company was established in Denmark in 1994 and has been Skechers’ exclusive distributor in the Nordic ...
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Intersport to acquire Go Sport
The commercial court of Grenoble has come to a decision with respect to Go Sport Group, ruling today in favor of Intersport France’s bid for the company, according to BFM Business. Making its offer in a joint venture with the Qatari firm Al-Mana, Intersport has prevailed over about 20 companies ...
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Amazon winds down its line of Halo health and fitness devices
Amazon has announced that it will stop supporting Halo, effective July 31, 2023. In practical terms, it means that beginning on Aug. 1, 2023, Halo devices and the Halo app will no longer function. The decision was due to “significant headwinds, including an increasingly crowded segment and an uncertain economic ...
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Nike boosts digital transformation with IT service provider Cognizant
U.S.-based IT service provider Cognizant Technology Solutions has entered into a new agreement with Nike to transform and support the sporting goods brand’s technology operations. Building on the two companies’ 14-year relationship, this new agreement will consolidate several of Nike’s existing IT support functions, with Cognizant supporting Nike across more ...
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Article
Adidas wants to win back China with "patriotic products"
A few years ago, China was a promising market for Adidas because the country’s middle class was growing and the margins for Adidas were particularly strong. The brand with the three stripes was one of the most popular Western brands in China. As early as 2008, Adidas opened its (then) ...
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Article
Authentic Brands announces next acquisition
In another acquisition move, Authentic Brands Group (ABG), a global brand development, marketing and entertainment platform that owns more than 40 lifestyle, entertainment and media brands, including Reebok, Eddie Bauer, and Spyder, announced on April 24 that it has entered into a definitive agreement with Vince Holding Corp. (VNCE) to ...
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Article
DyStar shuts down German plant
Singapore-based specialty chemicals company DyStar has announced plans to “restructure” its plant in Ludwigshafen, Germany, in response to changing business conditions and market changes. The plant, inherited from the company’s founders, who started indigo research and production more than 125 years ago, has been an integral part of DyStar’s global ...
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Allbirds expands and extends its credit line
Allbirds reported in a regulatory filing that it has entered into an amendment credit agreement with its lender, JPMorgan Chase, that increases the committed amount from $40 million to $50 million. In addition, the amended terms include an increase in the uncommitted additional borrowing capacity from $35 million to $50 ...
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French courts to decide Go Sport’s fate
According to multiple sources in the French press, the fate of Go Sport and its parent, Groupe Go Sport, lies in the hands of the commercial court of Grenoble, the city for which the sporting-goods retailer is named (Grenoble Olympique Sport). Go Sport’s owner Hermione, People & Brands (HPB) has ...
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Article
New Sport 2000 brand replaces all previous exclusive labels
With the start of the Spring/Summer 2023 season, Sport 2000’s new Witeblaze brand – announced last summer – was delivered to retail partners for the first time. It combines several product ranges under one roof and has thus replaced all previous exclusive brands of the affiliated group. According to Sport ...
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Lululemon could be eyeing sale of Mirror
After acquiring Mirror for $500 million in 2020, Lululemon Athletica, Inc. may now be looking into selling the company, according to a report from Bloomberg, which in turn cites sources “familiar with the matter.” It has not been confirmed, however, whether this is indeed the case. Lululemon bought Mirror in ...
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Pou Chen to invest $280 million in India
The Indian state government announced April 17 that a subsidiary of the world’s largest maker of branded athletic footwear, Pou Chen, will invest 23 billion rupees (€256 million) to set up a manufacturing plant in Tamil Nadu. The Taiwanese footwear maker, which sells brands such as Nike, Adidas, New Balance ...
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Mizuno revamps R&D at HQ
Mizuno has opened a new 6,500-sqm building for R&D at its world headquarters in Osaka. The I+D+i: Mizuno Engine, as it is called, has cost about 5 billion Japanese yen (€34m); has a sewing room, an adhesive/painting room, a 3D workshop, an environmental test room, an impact-test room, a gymnasium, ...
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Tonal raises fresh money and appoints new CEO
Source: Tonal Krystal Zell, new Tonal CEO Tonal, a celebrity-backed home fitness startup, has raised $130 million in a new round of funding. The struggling connected home exercise equipment company plans to use the new capital to strengthen its balance sheet and boost sales growth in the ...
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Asics opens its first European pro athlete training center
Japanese sports brand Asics has announced the opening of Chojo Camp Europe, the brand’s first European pro-athlete training center. The camp, managed by Dave Klink, is located at Font-Romeau, a commune in France’s Pyrénées-Orientales, near the Spanish border. Font-Romeau is one of the oldest ski resorts in France and the ...