All Corporations articles – Page 43
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News briefsH&M to cut 1,500 jobs
Global fashion retailer H&M is reducing its workforce by about 1,500 positions as part of a cost savings and efficiency program. Overall, the Swedish company estimates the program will provide annual savings of about SEK 2 billion (€182.2m), which it expects to “become visible” in the second half of 2023. ...
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News briefsSuperdry discusses refinancing its debt
Superdry is in talks with Bantry Bay Capital, a specialist lending provider, to obtain financing that would replace an existing £70 million (€80.1m) asset-backed lending facility which expires at the end of January. “There can be no certainty that an agreement will be reached, nor as to the terms of ...
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News briefsManchester United commences process to explore capitalization
According to an announcement on the club’s website, Manchester United (ManU) has retained the Raine Group to explore strategic alternatives, including new investments, a sale of the club or other transactions to capitalize on opportunities both on the pitch and commercially. The club (which is 98 percent owned by the ...
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News briefsFormer Yeezy team members publish open letter to Adidas in Rolling Stone Magazine
In an open letter to the Adidas management, published in the music magazine Rolling Stone, former Yeezy team members accuse Adidas of having been “huge enablers” of a Yeezy brand owner Kayne West’s “problematic behavior.” The letter and employee interviews repeatedly mention West showing pornography in meetings, making sexual references ...
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News briefsMUOV launches new crowdfunding campaign
MUOV, a London-based indoor cycling brand, has announced a new crowdfunding campaign on Crowdcube. The campaign, which opened to pre-registered users on Nov. 16, will go public on Nov. 28. The new funds are meant to contribute to marketing and fulfilling pre-orders in the U.K. and overseas. MUOV launched the ...
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News briefsHohenstein invests €1.3 million in AI-startup Sizekick
Hohenstein, a German provider of textile testing and a founding member of Oeko-Tex, has invested €1.3 million in Sizekick, a Munich-based software-as-a-service (SaaS) startup founded in the summer of 2022. Hohenstein’s investment is intended to enable the product launch in 2023. Sizekick’s software is designed to help online shoppers find ...
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News briefsSunGod’s latest crowdfunding campaign hit nearly £3 million
SunGod’s new crowdfunding campaign on Crowdcube, dubbed “The 2022 Vision Raise,” rapidly hit nearly £3 million (€3.5 million). The campaign by the British performance eyewear brand, which is now closed, had a fundraising target of £1 million (€1.2 million) and got 200 percent overfunded in less than 80 minutes. The ...
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News briefsiFit lays off another 300 of its workforce
iFit Health & Fitness, the U.S.-based connected fitness company, has reduced its Utah-based workforce by about 300 employees, or 20 percent of the remaining 1,600 employees who had survived earlier rounds of layoffs, the Salt Lake Tribune reported. At the height of demand following the pandemic, the company had employed ...
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News briefsBoardriders lays off 170 employees globally
As reported by the Orange County Business Journal (OCBJ) and Shop-Eat-Surf, Boardriders has laid off many employees in various regions. Both media report a loss of about 170 jobs (110 positions in the Americas and 60 in the Asia-Pacific regions). In a statement quoted by SES, the company reorganizes its ...
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News briefsSunGod launches new crowdfunding campaign
SunGod has launched a new crowdfunding campaign through Crowdcube. The campaign, dubbed “The 2022 Vision Raise,” went live on Nov. 15. The British performance eyewear brand has a fundraising target of £1 million (€1.1 million), specifically aimed at the next stage of its growth. Thanks to the new funds, the ...
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News briefsFrance’s government focuses on sports employment
France’s ministers of labor, sports, and education and vocational training – Olivier Dussopt, Amélie Oudéa-Castéra and Carole Grandjean – have signed a roadmap document to accelerate professional integration through sport. Sport currently represents 448,000 jobs in France, namely 2.2 percent of the country’s overall salaried workforce. It is also a ...
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ArticleRossignol Group plans significantly more revenue, new ESG commitments, novel four-season approach
Source: Rossignol Group Vincent Wauters Under the leadership of Vincent Wauters, president and CEO, who took over the reins of the group in February 2021, the Rossignol Group has announced a new strategic plan called Ascension 2026, according to which the group aims to achieve sales of ...
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News briefsEcco opens design studio in Shanghai
The newly opened Ecco Design Studio in Shanghai is said to be characterized by collaboration and creativity with bright, open and interconnected spaces and is Ecco’s second studio after opening a studio in Brooklyn, New York, in 2021. Both studios not only focus on shoe and bag design but also ...
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News briefsMizuno’s new innovation center begins operations in November
Mizuno said its new research and development facility, dubbed Mizuno Engine, is opening this month. The company announced plans to build the innovation center three years ago. The new 6,500-square-meter facility, located on the premises of the company’s headquarters in Osaka City, Japan, is meant to amplify Mizuno’s prototyping, testing ...
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News briefsPeloton execs go from riches to rugs
Peloton’s co-founders, John Foley, Hisao Kushi and Yony Feng, and five more of its former executives have secured $25 million in Series A funding and founded a new direct-to-consumer (DTC) rug company. The venture capital firms on the deal were Addition and True Ventures. Addition’s founder, Lee Fixel, backed Peloton’s ...
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News briefsLululemon appoints China-based Apple executive to its board of directors
Lululemon Athletica Inc. has appointed Isabel Ge Mahe to its board of directors, effective immediately. Ge Mahe is vice president and general manager of Greater China at Apple, where she provides leadership and coordination for Apple’s entire team in China. In this role, she has played a key role in ...
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ArticleWolverine establishes new brand structure, sets bigger focus on profit
Shares in the Merrell, Saucony, Keds and Sweaty Betty declined more than 34 percent yesterday after the company missed its third-quarter earnings target and lowered its guidance for the FY. Wolverine World Wide Inc.’s shares are down 59 percent year-to-date. The full-year outlook calls for 14 percent currency-neutral revenue growth ...
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News briefsAsics to move parts of its production to other Asian countries
Nikkei Asia has reported that Asics is expanding its production to Indonesia and Cambodia to take advantage of the growing popularity of running in Southeast Asia and diversify its sources of supply. Asics makes about half of its running shoes in Vietnam, which benefits from a high-quality labor force and ...
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ArticleLiverpool FC up for sale?
Boston-based Fenway Sports Group (FSG) has confirmed that it is ready to listen to offers for the historic, world-renowned English soccer club Liverpool FC. This was reported by several publications, including Bloomberg and The Athletic, citing “people familiar with the matter.” According to The Athletic, the sports investment firm has ...
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ArticleL Catterton launches impact fund platform
Consumer goods-focused private equity firm L Catterton, owner of footwear brand Birkenstock, has announced the formation of an impact investing platform and the appointment of Tehmina Haider and Michael O’Leary as partners to lead the strategy. Called the Impact Fund, the platform will partner with the next generation of mission-driven ...
