All Corporations articles – Page 33
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ArticlePGA Tour, DP World Tour and LIV Golf merge into new commercial entity
The PGA Tour, DP World Tour and Saudi-backed Public Investment Fund (PIF) have announced a “landmark agreement to unify the game of golf on a global basis.” The transformational agreement combines PIF’s golf-related commercial businesses and rights (including LIV Golf) with the commercial businesses and rights of the PGA Tour ...
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News briefsNew Balance invests $65 million to expand factory in Maine
New Balance has announced a $65 million investment to expand its current athletic footwear manufacturing facility in Skowhegan, Maine. The expansion consists of an 11,150-sqm single-story addition to the existing five-story factory building, set for completion by the end of 2024, with around 1,900 sqm of the existing building also ...
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News briefsBelgian start-up Gofluo raises €1 million for international growth
Belgian start-up Gofluo has received €1 million to accelerate business growth and expand into the USA, France and Germany. Four experienced business angels and venture capital fund Freshmen, which is already a shareholder, participated in the funding round. The innovative, female-run fashion brand was founded in 2018 by Julie Vets. ...
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News briefsOn aims to make brand more complex
Swiss company On Holding, which raised its fiscal 2023 sales forecast by 2 percent to at least $1.9 billion last month, remains committed to building a complex, multibillion-dollar sportswear brand that focuses on the premium segment and is not overdistributed. The Swiss group’s co-CEOs, Martin Hoffman and Marc Maurer, provided ...
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ArticleSkechers announces progress on inventory and international business
At Deutsche Bank’s Global Consumer Conference, Skechers told investors that demand, traffic and conversion rates remain healthy. However, the lingering impact of the summer 2022 retail inventory build is still expected to be a headwind for the rest of 2023. The U.S. wholesale market has helped support the bottom line ...
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News briefsVF begins operations at new distribution center in California
Colorado-based VF Corporation has launched its new distribution center in Ontario, California, employing approximately 550 people during peak periods. The new 111,500 sqm facility is VF’s largest and most efficient distribution center within the group’s worldwide network of 46 distribution centers. The center’s annual shipping capacity of 76 million units ...
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ArticleAuthentic acquires intellectual property of Hunter
After several weeks of negotiations, Authentic Brands Group (Authentic) has acquired the intellectual property of Hunter, the British brand known for its iconic Original Wellington boots. With more than 160 years of heritage, the Hunter brand has evolved from a rubber boot to a lifestyle brand offering an extensive footwear ...
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News briefsFoundation Wellness acquires Currex
Foundation Wellness, a U.S. manufacturer of insoles and orthotics under several different brands, has acquired Currex, a German brand of insoles designed for athletes and active people. According to the company, Currex is the leading brand in running retail in the U.S. and Germany. With this acquisition, Foundation Wellness expands ...
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ArticleU.S. and European e-com aggregators join forces
Source: SellerX SellerX co-founders Philipp Triebel (left) and Malte Horeyseck Berlin-based SellerX has signed an agreement to acquire Austin, Texas-based Elevate Brands, bringing together two major players in the e-commerce aggregator space. Both companies have established themselves as highly trusted and reputable partners for marketplace-based sellers in ...
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News briefsCourt ends insolvency proceedings of Galeria Karstadt Kaufhof
By order of a German district court, the insolvency proceedings of the Galeria Karstadt Kaufhof (GKK) department store group will come to an end at the close of May 31. This makes legally binding the insolvency plan for the department store chain, which was approved by the creditors’ meeting of ...
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News briefsFinnish factory to begin spinning its web
Woodspin is set to begin operating what it calls a “zero-emission factory producing sustainable textile fiber from certified wood at scale.” Its objective is to produce an annual yield of a thousand tons of Spinnova textile fiber, and to scale up to a million with the aid of a second ...
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ArticleMaterialise and Vuzix cooperate in smart glasses
Smart glasses supplier Vuzix and 3D-printing company Materalise have announced the start of their collaboration in the area of consumer smart eyewear, a market that is believed to be on the verge of mass adoption after years of development. As previously reported by our sister publication Eyewear Intelligence, the US-based ...
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ArticleWeSports relaunches Keller Sports, enters partnership with Footway Group
WeSports has completed the acquisition of the trademarks, e-commerce platform and customer database of Keller Sports and KellerX. Facing financial challenges due to the impact of Covid-19, the German Keller Group – then the parent company of Keller Sports, Keller X, Keller Premium and Keller Smiles – filed for insolvency ...
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ArticleLululemon expands global HQ in Vancouver
The Canadian government issued a press release on May 25 stating that “the expansion of Lululemon’s global headquarters in its hometown of Vancouver promises to significantly boost British Columbia’s prosperity.” The release also indicates that the Canadian athleisure brand is committed to growing and investing in the creation of more ...
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News briefsSneaker resale marketplace Laced raises $12 million
UK-based sneaker resale platform Laced has secured $12 million in Series A funding on the same day it unveiled its new visual identity. The e-commerce site features the latest collections from several well-known brands, including Nike, Jordan, Adidas and New Balance. Founded in London in 2018, Laced facilitates the sale ...
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News briefsAuthentic Brands Group forms Authentic Studios
Authentic Brands Group (Authentic), the parent company of more than 40 global brands including Sports Illustrated, Reebok, Nautica, Eddie Bauer, Spyder, Volcom, Tretorn, Prince and Airwalk to name a few, and currently in the process of acquiring Boardriders, has announced the formation of “Authentic Studios;” a full-service production studio designed ...
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News briefsSpanish eco-friendly fashion company launches sports brand
Ecoalf, a Spanish eco-friendly fashion company, is entering the sportswear market with Ecoalf Sports, its new brand of sustainable sportswear for running, cycling, surfing, yoga and pilates. Like its other collections, the new Ecoalf sportswear uses natural and recycled fibers. Founded in 2009 by Javier Goyeneche, Ecoalf posted revenues of ...
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ArticlePeloton starts "next chapter" with brand and app relaunch
After teasing details in its Q3 financial release, on May 23, Peloton initiated a complete relaunch of its brand in all of its five global markets. Peloton calls this the “next chapter,” in which the company moves away from the perception of an at-home trainer “to reflect everything Peloton has ...
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News briefsWilson breaks ground on new ball factory in Ohio
Wilson has broken ground on an expansion of its Ada, Ohio, plant, which is scheduled to open next summer and will measure nearly 7,500 sqm, more than double the size of the current facility. At present, the factory produces between 500,000 and 600,000 handmade NFL footballs annually. The goal for ...
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News briefsControlling shareholders seek larger stake in Alpargatas
MS Alpa Participacões Ltda., an entity owned by Cambuhy Alpa Holding Ltda., and Alpa Fundo de Investimento em Acões, who are part of Alpargatas’ controlling shareholders group, have offered to purchase an additional 32 million shares in the Brazilian footwear company on the open market for 10.50 Brazilian reais each ...
