All Corporations articles – Page 36
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News briefsSkechers 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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News briefsAmazon 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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News briefsNike hands IT operations to Cognizant in five-year deal
US IT provider Cognizant Technology Solutions takes over multilingual tech support, deskside services and application infrastructure for Nike across 40-plus countries.
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ArticleAdidas 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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ArticleAuthentic 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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ArticleDyStar 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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News briefsAllbirds 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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News briefsFrench 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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ArticleNew 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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News briefsLululemon 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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News briefsPou 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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News briefsMizuno 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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News briefsTonal 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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News briefsAsics 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 ...
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ArticleTowards a money tweet?
The Delaware corporation known as Twitter was merged into a new Nevada corporation known as X Corp. on March 15. This is according to SilverFlume, the business portal for the latter U.S. state. The owner of both, Elon Musk, has since tweeted a message consisting of a single letter: X. ...
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News briefsBrands4friends to be shut down this June
After Keller Sports, another online pure player is disappearing from the market: As of June 30, the Berlin-based shopping club Brands4friends is quitting operations. According to a report in Internet World, employees were informed about this in a letter from a lawyer. The Brands4Friends shopping club was established in 2007 ...
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ArticleAuthentic entering “next phase” of Boardriders acquisition
After making a binding offer for the group in late March, Authentic Brands Group announced that it has entered the “next phase” of its acquisition of Boardriders, the owner of the Quiksilver, Billabong, Roxy, DC Shoes, RVCA, Element, VonZipper and Honolua brands, with the signing of a definitive agreement. “We ...
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News briefsCurry receives $75 million in stock to remain UA ambassador
Stephen Curry received $75 million worth of stock from Under Armour (UA) last week as part of the compensation package following his appointment last week as president of Under Armour’s Curry Brand and his continued role as an ambassador for the company, according to a public SEC filing. The award ...
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News briefsU.S. chain Shoe City files for bankruptcy after failed acquisition by Arklyz
In the summer of 2022, Swiss retail group Arklyz, the owner of The Athlete’s Foot, announced plans to purchase Baltimore-based retail chain Shoe City from ESCO Ltd, which consists of about 40 retail stores, but the deal never materialized and the U.S. retailer has now filed for bankruptcy. Shoe City ...
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News briefsSnipes celebrates 25th anniversary with namesake Hollywood star
What was once a streetwear store in Cologne is now a global chain with nearly 700 stores around Europe and the U.S.: Snipes is celebrating its 25th anniversary and has brought its namesake Wesley Snipes on board to party. In a one-and-a-half-minute spot, the actor reviews the retailer’s development and ...
