All Corporations articles – Page 58
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News briefsMistral acquired by Dutch investor
The surf brand Mistral has been acquired by the Dutch investment company Nederlands MerkGoed (NMG) from Haarlem. Nothing was disclosed about the takeover price. Mistral was the first European windsurfing brand, founded in 1976. Mistral’s portfolio currently includes windsurfing equipment, SUPs and apparel. The company generated sales of €80 million ...
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News briefsWithings acquires health and fitness app 8fit
Withings, a French electronics company with offices in the U.S. and Hong Kong and focusing on at-home connected health, announced the acquisition of 8fit, a global health, fitness and wellness app with more than 40 million downloads, launched in Berlin in 2014. Available in six languages, 8fit provides its users ...
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ArticleSouth Korean manufacturer Kido expands to Bangladesh
South Korea-based technical outerwear manufacturer Kido Industrial announced a total investment of more than $36 million in new factories in Dhaka, Bangladesh. Of this amount, the company will invest $31.17 million to establish a new company, Kido Dhaka Company Co, Ltd. In addition, Kido recently acquired an existing garment factory ...
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C-Suite InterviewMathias Boenke: New Balance sees European sales of €1 bn doubling
New Balance recently predicted that its sales would grow by about 30 percent to $4.5 billion in 2021, which would likely keep it as the sixth largest sports brand in the world. Reaching a new record level, a similar increase was booked last year in Europe, said Mathias Boenke, a ...
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News briefs
Performance shares for Accell’s new supply chain leader
Accell Group, which was recently notified about an intended, indirect takeover offer from Pon Holdings, has announced that Francesca Gamboni, who started on Feb. 1 as chief supply chain officer of the company, has been granted 10,000 conditional performance shares in the group, subjected to her continued employment three years ...
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ArticleNick Brown passes on ownership of Nikwax and Páramo to employees
After 45 years as their owner and founder, Nick Brown has handed over control over Nikwax and Páramo on Feb. 1 to his employees on three continents at the age of 67 by selling the company to a newly formed Employee Ownership Trust. Nikwax Waterproofing Wax for Leather, ...
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News briefs
Brooks’ CEO has written a book
Jim Weber, who became president and CEO of Brooks Running in 2001, has written a book on his life journey and his career while running the formerly bankrupt company, which was acquired by Russell Athletic in 2004 and by Fruit of the Loom, owned by Berkshire Hathaway, in 2006. It ...
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Article
Adidas has two other regional clusters in Europe
In addition to its creation of a ‘cluster’ for Southern Europe, which we reported about yesterday, Adidas has established similar regional clusters for Northern and Central Europe in the past few months. Cluster North is headed up by Kathryn Swarbick and includes the U.K., Ireland, the Benelux countries, Denmark, Norway, ...
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Article
A new regional set-up for Intersport in Europe
Dividing the European market into three regional clusters, Intersport International Corp. (IIC) has established a new set-up that has probably contributed to its relatively good performance in the past year, in spite of differences from one country to the other. Under the wing of Steve Evers, CEO of IIC, an ...
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ArticleAdidas creates a new digital hub in Spain, while regionalizing Southern Europe
Adidas is creating a new international technological hub at its Spanish head office in Zaragoza to collect and process data for the development of its omni-channel operations on a wide scale and for other IT-related engineering capabilities, said a spokesman for the company, confirming a report in CMDsport. The number ...
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News briefs
Adidas to hire 2,800 or more in 2022
Adidas is planning to hire about 2,800 people – to fill both vacancies and new posts – at 307 locations in 47 countries in 2022, with more posts to be advertised as the year goes along. More than 800 of them will be posted in Germany and more than 900 ...
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News briefs
Reebok may lay off 150 people
Reebok is planning to lay off 150 people after the completion of its sale by Adidas to the Authentic Brands Group (ABG) in the course of the first quarter of this year, according to the Boston Globe and Footwear News. The brand employs some 4,000 people around the world, but ...
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News briefsIsbjörn of Sweden may change ownership
Online Brands Nordic, a Swedish investment group, is bidding to acquire Nordic KidsWear, which owns Isbjörn of Sweden, the Swedish brand of sustainable children’s outdoor and ski clothing. It is offering a cash payment of about 17.9 million Swedish kronor (€1.71m-$1.92m), the issuance of 597,165 shares in Online Brands, ...
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News briefs
Investor calls for Peloton to be sold and its boss to be fired
An activist investor in Peloton Interactive is calling on its board of directors to dismiss its CEO and co-founder, John Foley, and to explore a sale of the company, whose share price has declined drastically due to falling demand for its products and connected fitness solutions. Blackwells Capital, which holds ...
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News briefs
Gorilla Sports gains foothold in Spain
Gorilla Sports has found a local investor to help it set up a shop in Spain. The German home fitness equipment company is establishing a subsidiary, to be led by Guillem Boix, in Fontcoberta, a city in the Catalonian province of Girona. Offices and warehouse together will occupy about 1,000 ...
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ArticleKKR offers to buy Accell Group
The bicycle industry continues to boom and is therefore increasingly targeted by investors. After the recent acquisition of Dorel Sports by the Dutch family-owned Pon Holdings group, it’s now the turn for the Dutch Accell Group to announce that a consortium led by the U.S. financial investor KKR (Kohlberg Kravis ...
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Article
Peloton denies plans to pause manufacturing
While confirming that it is re-evaluating its organizational structure and the size of its staff, Peloton Interactive denied a new report that it was going to temporarily halt production of its stationary bikes and treadmills in response to softening demand. John Foley, co-founder and CEO of the American connected fitness ...
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News briefs
Nike, Columbia to begin firing unvaxxed employees
According to Oregonlive, which covers the sportswear giant’s home state of Oregon, Nike was set on Jan. 15 to begin firing employees who were not, by the current definition, vaccinated against Covid-19 and had not received a religious or medical exemption. According to the same source, Columbia Sportswear, also headquartered ...
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Article
Peloton raises prices, contemplates restructuring
The former star of the connected fitness industry and the stock market has asked McKinsey & Co. to review its cost structure with an eye toward cutting overheads by shutting down its new in-house apparel division, which is in litigation with Lululemon, and by eliminating some jobs, according to a ...
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News briefsPolygiene acquires another British antimicrobial additive business
Polygiene has entered into an agreement to acquire the SteriTouch business of Radical Materials, a U.K.-based company, founded in 2003, that is also operating with the product ranges Konduct, Scopic and Steritype. Its SteriTouch range consists primarily of antimicrobial additives for plastics, paints, coatings, silicone, rubber and textiles. The largest ...
