All Corporations articles – Page 24
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ArticleSport 2000 Austria: Zentrasport’s reorganization proceedings closed
The restructuring proceedings with self-administration submitted by Zentrasport Österreich e.Gen. on Aug. 11 were successfully closed on Nov. 9, 2023, at the regional court in Wels. The creditors approved the restructuring plan. The original target ratio of 60 percent could not be fully met; creditors will receive a ratio of ...
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News briefsBid under review for 25 French Intersport, two Go Sport stores
According to France’s Authority on Competition (Autorité de la Concurrence), Schiever, an international retail group based in Burgundy, is looking to acquire full control of 25 Intersport stores (20 retail stores and five outlets) and two Go Sport stores – as well as four stores of the ready-to-wear chain Blackstore. ...
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ArticleWolverine Worldwide accelerates transformation plan
Wolverine World Wide, Inc., the owner of a large brand portfolio, including Merrell, Saucony, Sperry, Sweaty Betty, Hush Puppies and Wolverine, announced actions to accelerate its ongoing strategic transformation into a “brand-led and consumer-obsessed growth company.” Chris Hufnagel, President and CEO, said: “We are moving with speed and urgency to ...
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ArticleIntersport Germany sells Sport Voswinkel to Italian retailer
Intersport Deutschland eG (Intersport Germany) announced on Nov. 8 that it has signed an agreement on the sale of Sport Voswinkel GmbH & Co. KG to Cisalfa Sport S.p.A. by the end of 2023. “We are very pleased that we can place Sport Voswinkel GmbH & Co. KG into the ...
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News briefsSigna Holding: Benko steps down, hands over chairmanship to restructuring expert
As the company announced on Nov. 8, 2023, Austrian real estate investor René Benko has stepped down as Chairman of the Advisory Board of Signa Holding and handed over the chairmanship to Arndt Geiwitz. The German restructuring specialist is also taking over the chairmanship of Signa’s shareholders’ committee, as reported ...
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News briefsXponential Fitness appoints President of International, scores global multi-brand deals
Xponential Fitness, Inc. a global franchisor of boutique fitness brands, announced several milestones in the company’s international expansion initiatives. In the first instance, Bob Kaufman was named President of International to lead Xponential’s international expansion plans for all of its brands. Kaufman has more than 25 years of industry experience ...
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News briefsWHP Global and Authentic reportedly interested in buying Champion
WHP Global and Authentic Brands Group are both interested in buying Champion from its parent company HanesBrands, according to a report by CNBC. Sources also said, however, that a deal is not close to completion, and if HanesBrands ever moves forward, it will not select a buyer until 2024. WHP ...
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ArticleCoDi sells Marucci Sports to Fox Factory
Compass Diversified (CoDi), the Westport, Connecticut-based owner of several sporting goods brands, including Boa Technology, 5.11, PrimaLoft and Velocity Outdoor, announced that it has entered into a definitive agreement to sell its majority-owned subsidiary Wheelhouse Holdings, Inc, the parent company of Marucci Sports, to publicly traded chassis and suspension expert ...
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ArticleCrocs taking steps to reset Heydude business
There will be some immediate pain, largely negative wholesale growth in Q4, as Crocs takes additional steps to shore up the fortunes of its Heydude business. Those efforts are focused on distribution clean-up, greater segmentation by distribution channel coupled with stronger control of digital pricing, and the ...
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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 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 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 ...
