All Corporations articles – Page 39
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News briefsAsics wants to grow further in India
Asics saw its net revenues in India increase by 42 percent in 2022, bolstered by the post-pandemic running and fitness boom. It was the company’s highest growth globally. The Japanese sportswear brand is now eyeing a 25 percent growth CAGR in the country over the next few years, Asics’ president, ...
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News briefsLacoste launches new logo for Medvedev’s line
Source: lacoste.com Lacoste has launched a new signature logo for brand ambassador Daniil Medvedev. The French sportswear unveiled the personalized logo at the Australian Open 2023, the first Grand Slam tennis tournament of the year, where Medvedev is wearing a dedicated co-branded collection that comprises a polo ...
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ArticleMaker of CO2-based polyester raises €22m
Fairbrics, a sustainable chemical company developing a technology that converts CO2 emissions into high-quality polyester through a circular manufacturing approach, has received €17 million from the European Union’s Horizon 2020 research and innovation program and an additional €5 million from Fairbrics’ Technology Upscaling Project partners to bring its innovative solution ...
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News briefsGo Sport to acquire Gap France amidst uncertain future
Parent company Hermione People & Brands has confirmed in a short statement that its French sports retail chain subsidiary Go Sport will acquire the master franchise for Gap in France. French investigative online newspaper Mediapart originally unveiled the information on Jan. 10. According to Mediapart, Go Sport and Gap France ...
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News briefsNBA All-Star Allen Iverson partners with Authentic Brands Group
Reebok owner Authentic Brands Group (ABG) has teamed up with Hall of Famer and 11-time NBA All-Star Allen Iverson to further develop Iverson’s own brand. Under the partnership, ABG will focus on growing Iverson’s entertainment business, securing new advertising deals and strategic partnerships, and developing new consumer product opportunities. Currently, ...
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ArticleWolverine Worldwide’s profitability will be impacted by inventory reductions
Wolverine Worldwide reduced its Q4 inventory total from the prior quarter by 8.5 percent to $805 million, but the effort is forecast to weigh negatively on the company’s FY22 and Q4 adjusted diluted earnings. Wolverine says final earning results, when reported next month, will be at the low end of ...
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ArticleAdidas merges Canadian and U.S. businesses
Retail Insider reported Jan. 10 that Adidas is merging its U.S. and Canadian operations. According to the report, the new combined North American headquarters will be the current U.S. headquarters in Portland, Oregon. In 1993, the company established its U.S. operations in Portland and moved to its existing North Portland ...
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ArticleRobby Naish has sold his company
Netherlands-based Kubus Sports, a distribution platform founded in 1970 for high-end sporting goods brands covering various niche sports, has acquired Nalu Kai Incorporated, the Maui-based operating company of the Naish brand, and its subsidiary Pacific Board Sports, Naish’s U.S. distributor. Naish is the well-known Maui-based company of ...
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ArticleInternational will be vital to Crocs’ $4 billion FY23 revenue objective
Crocs, which has delivered 54 percent annualized shareholder return since 2017 by its own calculation, is forecasting revenue growth of 10 to 13 percent this fiscal year to a range of $3.9 to $4.0 billion with sales in markets outside the Americas increasing at the highest rate. Presenting at ...
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News briefsLululemon shares take hit after lowered margin outlook
Lululemon, in updating its fourth-quarter guidance ahead of the ICR Conference, lowered its gross margin outlook for a second consecutive quarter. The group forecasted a gross margin decline of 90 to 110 basis points in the period versus a prior outlook of a 10 to 20 basis point increase, and ...
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News briefsAmazon to close three UK warehouses, plans two new fulfillment centers
SkyNews reports that Amazon is looking to close three old warehouses in the U.K., which currently employ 1,200 people, and replace them with two new, large fulfillment centers. The sites in Hemel Hempstead, Doncaster and Gourock, in the west of Scotland, have been proposed for closure. The proposed new sites ...
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News briefsJack Ma to give up control of Ant Group
Ant Group founder, Chinese billionaire Jack Ma, who is also the founder and longtime head of Alibaba Group, will relinquish control of the Chinese fintech giant, according to Reuters. The move is intended to draw a line under the regulatory crackdown that began shortly after Ant’s IPO failed two years ...
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News briefsVF with new appointment to Timberland executive team and more
Source: VF Corp Nina Flood VF Corporation has announced new appointments to its leadership team in the EMEA region, including for the Timberland brand, effective Jan. 31. Nina Flood — current president VF Global Packs (Eastpak, JanSport, and Kipling) — is to be the new general manager ...
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News briefsAlibaba plans logistics center at Istanbul airport
Chinese e-commerce giant Alibaba Group Holding Ltd will invest more than $1 billion in Turkey to build a logistics center at Istanbul Airport and a data center near the Turkish capital of Ankara, Michael Evans, president of Alibaba Group since 2015, told Sabah newspaper last Sunday. Alibaba is seeking to ...
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ArticleRe:store acquires fashion and lifestyle marketplace Trouva
Trouva, a London-based online marketplace focused on showcasing independent boutiques and brands focused on homewares, fashion and lifestyle, has been acquired by Cambridge-based startup Re:store from its previous owner, the clothing brand Next. Terms of the deal were not disclosed. In its press release, Trouva states that Re:store’s goal with ...
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News briefsAmazon cuts 18,000 jobs, secures billion-dollar loan
Amazon will lay off over 18,000 employees, with the majority focused on Amazon Stores and the People, Experience, and Technology (PXT) organizations, Andy Jassy, the company’s CEO, announced. The U.S. online retailer plans to start talking to employees or representative bodies from Jan. 18. Amazon had already imposed a hiring ...
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ArticleSwedish e-tailer Ridestore nears SEK 1 billion in sales
According to an article on ehandel.se, Swedish e-tailer Ridestore reported sales of just over SEK 1 billion (€90.8m) in its latest financial statements for 2021/2022, including currency exchange gains. Excluding, earnings were SEK 975 million (€87.6m), solid growth from SEK 600 million (€53.9m) the previous year. The privately held company ...
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News briefsL.A. gets first pro pádel franchise
EEP Capital, which describes itself as the first venture-capital fund devoted to the sport, has purchased the first pádel franchise in Los Angeles. The team will be playing within the Pro Padel League, the professional league in the U.S. EEP Capital is tied to and shares management with EE Padel ...
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News briefsGo Sport with new managing director
About two weeks before the Grenoble Commercial Court was expected to rule on the possible insolvency of Go Sport, based in Sassenage in the French Isère department, its parent company Hermione, People & Brands (HPB) announced that Patrick Puy was appointed as its new general manager, effective Jan. 4. The ...
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News briefsNew co-owners for long-standing Austrian retailer Strolz
Austrian newspaper Kleine Zeitung reported that well-known sports and fashion retailer Strolz of Lech – founded in 1921 and best known for its handmade, personally customized ski boots – has gained new shareholders: Hugo Boss CEO Daniel Grieder, manager Siegfried Wolf and local real estate project manager Reinhard Wolf are ...
