All Corporations articles – Page 66
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News briefs
Whoop acquires a weightlifting technology start-up, Push
Fresh off from a $200 million equity increase, Whoop has acquired Push, a start-up whose technology uses multiple sensors worn by athletes to measure weightlifting power, speed, force and acceleration. Whoop is taking over the Toronto-based company at an undisclosed price in exchange for cash and shares. Its equipment, software ...
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News briefs
Hummel is buying a Danish childrenswear brand
Intensifying its focus on the kids market, Hummel has agreed to take over Sometime Soon, a Danish brand of streetwear-inspired children’s clothing for boys aged 0 to 14. Cathrine Høilund, who co-founded the firm in 2015, will continue as its creative director. The takeover will only be effective in January ...
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ArticleWeSports makes many purchases and adds e-com pioneer Johan Ryding to its board
The young Swedish WeSports group has engaged in a big shopping spree, taking over many companies in the last few months. It has also announced that Johan Ryding has joined the company’s board of directors. Ryding is one of the founders of Sportamore, the first Nordic online sports store, and ...
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News briefs
Nautilus is acquiring a motion tracking start-up
Nautilus has announced a definitive agreement to acquire VAY (pronounced “way,”), a company whose proprietary computer vision software enables computers to understand human motion through cameras. The price of the transaction has not been disclosed. Nautilus says the acquisition will allow it to scale its own JRNY digital platform by ...
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News briefs
Former European executive of Burton joins Myutility Bag
Myutility Bag (MUB), the French start-up acquired by Frank Heissat five months ago, has completed a new round of financing and added an experienced partner to help boost its international development. Franck Waterlot, who served as joint European managing director and vice president of commercial and marketing operations a tBurton ...
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Article
Sequential Brands Group files for bankruptcy protection
After many loss-making quarters and the sale of four brands - Heelys, DVS Footwear, Caribbean Joe and Ellen Tracy - earlier this year, the heavily indebted Sequential Brands Group has commenced voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware to protect it from its ...
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ArticleiFIT reports strong growth and losses ahead of its IPO
Confirming its plans to go public, iFIT Health & Fitness reported a 104.9 percent increase in revenues to $1,745.1 million for the 12 months ended last May 31, compared with $700.0 million in 2018/19 and $851.7 million in 2019/20. It got orders worth $382.3 million last year, representing an increase ...
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ArticleLoss-making Allbirds eyes the sports market as it files for a “sustainable” IPO
Allbirds, the B Corporation certified brand of sneakers and apparel based in San Francisco, has filed an application with the U.S. Securities and Exchange Commission for a so-called “sustainable” initial public offering on Nasdaq. The document indicates the size of the transaction at $100 million, which is an estimation solely ...
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News briefs
Whoop’s valuation rises from $1.2bn to $3.6bn
The valuation of Whoop has risen to $3.6 billion through a new $200 million Series E round of financing led by the SoftBank Vision Fund 2. “While we have experienced amazing growth in the past year, the potential of our technology and the vast market for health monitoring remains largely ...
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News briefs
India’s Elevar raises $2.6 million in funding
Elevar, a three-year-old sporting goods producer based in Mumbai, has raised INR190,000,000 (€2.2m-$2.6m) in a Series A funding round led by a venture capital firm, Kalaari Capital. Dream Sports also participated in the fundraising. Elevar is expected to use the funding to expand its product portfolio, increase its marketing efforts ...
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News briefsLululemon expands benefits, increases minimum pay
Lululemon Athletica has announced an increase in the minimum wage for the majority of its store and Guest Education Center (GEC) employees in North America, providing an overview of the company’s approach to compensation and benefits. Beginning Sept. 27, both current and future employees will receive a new minimum wage ...
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News briefs
Share options worth £100 million for Frasers’ future CEO
The Remuneration Committee of Frasers Group, which owns Sports Direct and many other brands retail operations in the U.K. and elsewhere, is proposing to award shares worth £100 million (€117m-$137m) as a performance-related bonus to Michael Murray, who is set to take the place of group CEO from Mike Ashley ...
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Article
JD and Sprinter acquire Bodytone
According to CMDsport, the Iberian Sports Retail Group (ISRG) has acquired a 50.1 percent stake in Bodytone International Sport, a Spanish-based producer and international distributor of professional gym machines and equipment. The purchase price was undisclosed. Bodytone has until now been wholly owned by American Sport Invest, which has become ...
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ArticleStella builds up capacity in Indonesia, sees profit turnaround in H1
The Hong-Kong-based footwear manufacturer and retailer Stella International expects its new factory in Solo, Indonesia, to come on stream in the third quarter of 2021 as the company continues to increase production outside the Chinese mainland. The plant is expected to contribute to overall sales in 2022. Solo will be ...
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News briefsSport Holding is acquiring Bergans
Sport Holding, the Norwegian retail group formed in 2020 after Gresvig, the Norwegian licensee of Intersport, and Sport 1 Gruppen merged, announced that it is acquiring 100 percent of the shares of Bergans Fritid AS, one of the major outdoor clothing and equipment companies in Norway. The group, including Sport ...
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News briefs
ABG to retain its debt rating with Reebok's acquisition
Moody’s said that it will not be changing the Authentic Brands Group’s debt rating (B2 Stable) in light of its costly acquisition of Reebok. As Moody’s notes, Reebok’s sales growth “has consistently lagged behind” that of Adidas, the selling party (A2 Stable), and its turnaround, begun in 2016, is not ...
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News briefs
Galeria Karstadt Kaufhof will become Galeria
Galeria Karstadt Kaufhof, the German company formed in 2018 from the merger of the Karstadt and Galeria Kaufhof department store chains that became wholly owned by Signa Retail in 2019, has unveiled a new concept for its 131 locations in Germany, which will see the company strategically reposition itself starting ...
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ArticlePadel Nuestro under new ownership
According to CMDsport, the holding company Backspin Capital Investments has acquired Padel Nuestro and appointed a new CEO, Iñigo Colomina Fajardo, who is the chief executive of Colomina Investments of Madrid. The Spanish pádel retailer’s founders – Ismael Cancho Lozano, José Ignacio Simón Marín and Pascual López Cuadra – signed ...
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News briefs
Fernando Alonso’s brand Kimoa acquired by Revolution Brands
Kimoa, the sports-inspired eyewear and apparel brand created by Formula 1 champion Fernando Alonso, has been acquired by Revolution Brands International. Under the terms of the agreement, Alonso will retain a 25 percent interest in Kimoa. The two-time Formula 1 champion will also continue to serve as the global ambassador ...
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ArticleOn turns around as it files registration for its IPO
On Holding, the Swiss company that owns On, the performance brand specialized in running and backed by Roger Federer, has announced that it has publicly filed a registration statement with the U.S. Securities and Exchange Commission (SEC) for a proposed Initial Public Offering (IPO). The company’s valuation, the number of ...
