All Corporations articles – Page 23
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News briefsSports industry is driving urban development in Jinjiang in southeast China
The city of Jinjiang in southeast China’s Fujian Province has made great efforts in recent years to promote the integrated development of culture, sports and tourism and establish itself as China’s sports capital at the earliest opportunity. After four years, the 2023 International University Sports Federation (FISU) University Football World ...
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News briefsTopgolf Callaway acquires US off-course golf operator BigShots Golf
Topgolf Callaway Brands Corp. announced that it has acquired certain assets of Dallas, Texas-based Invited, Inc., the largest owner and operator of private golf clubs in the US, related to its BigShots Golf business. The purchase price for the initial closing is approximately $29 million. The acquisition adds the BigShots ...
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News briefsAlo Yoga eyes $10 billion valuation
Alo Yoga, a privately held yoga firm founded in 2007 and owned by Los Angeles-based Color Image Apparel, is reportedly exploring the securement of a major investment that would value the premium-priced apparel firm at $10 billion. The brand, whose name is an acronym for air, land and ocean, is ...
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News briefsSigna Holding also facing challenges
The slowdown in the real estate market is hitting René Benko’s Signa Holding severely, according to an article in the Austrian magazine News. Signa Holding is an investment holding company operating in the real estate, retail (Galeria Kaufhof, Signa Sports United (SSU), KaDeWe) and media (minority stake in Austrian newspapers ...
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News briefsUPS to acquire reverse logistics specialist Happy Returns from PayPal
UPS has announced that it is acquiring Happy Returns from PayPal. Happy Returns is a U.S.-based software and reverse logistics company that provides merchants and consumers in the U.S. with a hassle-free, boxless and label-free returns experience. “By combining Happy Returns’ easy digital experience and established drop-off points with ...
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News briefsAI-powered tennis app SwingVision raises $6 million
SwingVision has announced a $6 million Series A financing round led by Authentic Ventures. Other participants include pro tennis players Lindsay Davenport, Alison Riske and Rohan Bopanna, as well as Dropbox’s head of product Youssef Es-skouri and Glenn Solomon of GGV Capital. The new funding will be primarily used to ...
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News briefsSigna Sports United files for insolvency
Sports e-commerce company Signa Sports United (SSU), controlled by Austrian investor René Benko’s Signa Holding, has filed for insolvency. The Bielefeld District Court, where the application was filed, appointed Munich-based lawyer Christian Gerloff as insolvency administrator. The German business newspaper Handelsblatt was the first to report the insolvency filing, which ...
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News briefsInditex to buy €70m worth of Ambercycle’s Cycora
Inditex, Zara’s parent company, has partnered strategically with Los Angeles-based material sciences firm Ambercycle to help scale textile to textile recycled polyester. As part of this agreement, Inditex has signed a three-year commitment to buy Ambercycle’s textile-to-textile recycled polyester Cycora for over €70 million. Cycora is an innovative material made ...
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News briefsGozen secures $3.3 million in funding
Gozen, a San Francisco-based biocreation start-up founded and led by Ece Gozen, has announced a $3.3 million funding round. The funding comes from Happiness Capital (lead investor), Accelr8, Astor Management, and SOSV. This investment will enable Gozen to accelerate research, development, and scaling efforts for its debut biomaterial, called Lunaform, ...
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News briefsAsics announces first Indian event promoting start-up collabs
Asics Corp. has announced that Asics Ventures Corp., its investment arm, will host an event with Indian start-ups titled Asics Innovation Pitch in India. The event is powered by the Indian firm GHV Accelerator. This is Asics’ sixth program for start-ups, following the Asics Tenkan-Ten, which was held twice in ...
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News briefsBoardriders laying off workers in California
Boardriders is laying off 84 employees following the completion of its acquisition by Authentic Brands Group in September. This is according to a WARN (Worker Adjustment and Retraining Notification) notice filed in California. The layoffs are part of a restructuring that also affects the positions of CEO, Global CFO, Chief ...
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News briefsVF Corp. targeted by another activist investor
Only one week after Engaged Capital set its sights on VF Corp., a second activist investor, Los Angeles-based Legion Partners, has acquired an undisclosed stake in the company and wants it to divest brands such as Timberland, Bloomberg reported, citing sources familiar with the matter. VF just named former Nike ...
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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 ...
