All Corporations articles – Page 55
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ArticleOdlo buys Janus and moves its wool production to Norway
Odlo International AG, the Swiss company with Norwegian roots, has reached an agreement to acquire 100 percent of the shares in Janus Holding AS. Janus, founded in 1895, is Norway’s largest and oldest manufacturer of wool underwear and the only remaining company producing wool products on a large scale in ...
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News briefsKYX World secures seed funding
L.A.-based sneaker subscription platform KYX World, founded last year, has received a second seed funding of $3 million led by SeventySix Capital, valuing the company at $16 million. The company’s backers include Rachel Zoe Ventures and Crush Ventures, as well as several celebrities and professional athletes, including NBA All-Star DeMar ...
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ArticleAdidas completes divestiture of Reebok; launches new share buyback program
Adidas has formally completed the divestment of Reebok to Authentic Brands Group (ABG) on Feb. 28, 2022. On a transitional basis, the company announced that it would continue to operate the business on behalf of ABG in several markets. Subsequently, the Reebok business will be fully transferred to ABG’s operating ...
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ArticleiFit Health & Fitness raises $355 million in capital, names co-presidents
Months after abandoning a $650 million initial public offering due to unfavorable market conditions, iFIT Health & Fitness, formerly known as Icon Health & Fitness and parent of the NordicTrack, Weider and ProForm fitness brands, amongst others, has raised $355 million in capital from L. Catterton, the largest global consumer-focused ...
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News briefsAnta Sports and Hyatt plan to open first Fila-branded hotel
Anta Sports Products and Hyatt Hotels Corp. have announced plans to open the first Fila-branded hotel in Shanghai, China. The Fila House Shanghai will be part of the JdV by Hyatt brand and the first Fila branded hotel in the world. According to Hyatt, the JdV by Hyatt brand comprises ...
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News briefsAviron raises $18.5 million and hires COO
Toronto-based connected fitness company Aviron announced $18.5 million in Series A funding led by Chris Carey and Stripes, also an investor in the running brand On. Additional investment comes from Global Founders Capital, Formic Ventures and 24-Hour Fitness founder Mark Mastrov. Aviron is the developer of a gaming-led, smart rowing ...
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News briefsABG to co-own and manage David Beckham’s brands
Authentic Brands Group (ABG) has entered into a partnership with David Beckham to co-own and manage his brands and businesses, which include endorsements with Adidas, Tudor, Maserati, EA Sports, Sands and Diageo. In keeping with the deal’s terms, Beckham has become a shareholder in ABG, while ABG has become the ...
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News briefsFrasers acquires troubled online retailer Studio Retail
Frasers Group, the parent company of Sports Direct, announced today it has acquired Studio Retail Limited and certain other assets of Studio Retail Group plc. The British online retailer Studio Retail Group had filed for administration earlier this month for itself and its wholly-owned subsidiary Studio Retail Limited after failing ...
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News briefsUnder Armour announces $500 million share repurchase program
Under Armour’s board of directors has authorized the repurchase of up to $500 million of the company’s Class C common stock, effective immediately. Repurchases under this program may be made over the next two years through various methods, including open market transactions, privately negotiated or accelerated share repurchases. The timing, ...
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News briefsSlinger closes PlaySight Interactive acquisition
Shortly after completing its acquisition of Gameface.ai, connected sports technology company Slinger, formerly Slinger Bag, has added the final building block to its “Watch, Play, Learn” strategy with video capture and analytics company PlaySight Interactive. PlaySight was founded in 2014 and is now firmly established in the U.S. team sport ...
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ArticleS&P upgrades Under Armour’s outlook
S&P Global Ratings has revised its outlook for Under Armour from stable to positive, citing high demand for its products, reduced promotional pricing and abnormally high cash balances. Indicating that they may be raised over the next 12 months, the agency affirmed its debt ratings for the company on the ...
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News briefsMoody’s outlook for Callaway remains negative, despite refinancing
Moody’s maintained its negative outlook about the increasingly diversified Callaway Golf group despite a new move intended to simplify its capital structure by refinancing its debt, following its $1.7 billion acquisition of Topgolf International, the U.S.-based operator of golf venues and entertainment centers, in March 2021. In a previous diversification ...
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News briefsFanatics is acquiring Mitchell & Ness
Fanatics has teamed up with a celebrity cohort, which also includes Jay-Z, to acquire Mitchell & Ness, a brand merchandising company. As reported by the New York Times, the deal was closed on Feb. 16, and valued Mitchell & Ness at about $250 million. Under the terms of the transaction, ...
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News briefsFire at Alpargatas plant in Brazil
Alpargatas, which claims to be the largest footwear and apparel company in Latin America and owner, among others, of the Havaianas brand, reported that a fire broke out in the early morning of Feb. 21, 2022, at one of its plants in the city of Santa Rita, in the Brazilian ...
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News briefsBusiness with the metaverse to exceed $100 billion in 2022
Management consultancy Boston Consulting Group (BCG) expects a strong surge in growth for products and services for the so-called metaverse. “The market for augmented reality will exceed the 100 billion US dollar mark this year,” said BCG partner Tibor Mérey in an interview with the German business magazine Capital. The ...
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News briefs
Adidas supports young creators in London
Adidas has partnered with youth-led digital media platform Guap to launch an educational program called “The Originals Creator Network”. The 12-month initiative aims to connect young creators with industry experts and allows them to work live on Adidas Originals projects. The Originals store on Carnaby Street in London will serve ...
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News briefsStudio Retail files for administration
British online retailer Studio Retail Group, known until mid-2019 as Findel plc, filed for administration – a British form of bankruptcy proceedings – for itself and Studio Retail Limited, its wholly-owned subsidiary, after failing to obtain a £25 million (€30m) short-term loan. The company also suspended its shares on the ...
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News briefsPeloton’s new CEO contradicts sale rumors
The Verge reports that Peloton’s new CEO, Barry McCarthy, has denied the rumors about the sale of the company in an interview with the Financial Times. The company faced rumors after missing Wall Street projections and laying off 2,800 employees. McCarthy told FT that he wouldn’t move from California to ...
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News briefsHugo Boss invests in HeiQ Aeonic, Lycra opts for exclusive distribution rights
The German luxury fashion brand Hugo Boss AG has invested $5 million in HeiQ AeoniQ LLC (a wholly-owned subsidiary of London-listed HeiQ Plc) and an additional $4 million based on performance milestone agreements. Boss is the first company to acquire shares in the new continuous cellulosic yarn that is being ...
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Article
Amer may reach a 13% Ebit margin on 20% higher sales, says S&P
Standard & Poor’s Global has upgraded its ratings for Amer Sports, largely echoing the positive comments made last month by Moody’s. S&P sees Amer’s growth accelerating to 20 percent in 2022 from 15 percent in 2021, followed by mid-single-digit increases in 2023 and 2024, thanks in part to investments in ...
