All Corporations articles – Page 86
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News briefsAllbirds is reportedly worth $1.7 bn in a funding round
Allbirds, the Californian brand of sustainable footwear made with wood and wool fiber, has closed a new $100 million Series E funding round led by Franklin Templeton, alongside T. Rowe Price, Baillie Gifford, TDM Growth Partners, Rockefeller Capital Management and other investors. According to The Wall Street Journal, which cites ...
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News briefs
Royer will have to trim its staff
The loss of a major distribution contract for New Balance in France, the Benelux countries and Germany and the crisis linked to Covid-19 have led Groupe Royer of France to start discussions with its staff about the dismissal of about 200 of its 500 employees. The loss of the contract, ...
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ArticleVulcabras takes over Alpargatas’ Mizuno license
An asset reshuffle involving three of Brazil’s leading footwear manufacturers will result in Vulcabras Azaleia focusing on sports with its Olympikus brand and the distribution of Under Armour in Brazil, while getting out of the women’s sector and taking over a Mizuno license from Alpargatas, which will concentrate on its ...
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News briefs
Clarus raises $11.5m from three top investors
Clarus Corporation, parent company of Black Diamond, Pieps, Sierra Bullets and Skinourishment, has entered into an agreement with three of its top 10 investors - Brown Advisory, Greenhouse Funds and TT Investimentos - to sell 900,000 registered shares of the company to support future growth. The sale will be priced ...
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News briefs
Smith moves its consumer & dealer services division to Portland
Smith Optics has transferred its consumer & dealer services division to its headquarters in Portland, where it will join the product, marketing and sales departments. The division was previously located at Smith’s Utah-based manufacturing facility. The Portland team will include account managers coming from Utah and new hires such as ...
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News briefs
New super loan leads S&P to upgrade Boardriders’ credit rating
Shortly after downgrading Boardriders’ credit rating, Standard & Poor’s upgraded it slightly from SD to CCC as the parent company of Quiksilver, Billabong, Roxy and other action sports brands completed a new transaction with its lenders. It notably obtained a “super senior term loan” that provides it with much-needed liquidity ...
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News briefs
Positive rating by Moody’s for Canada Goose
Rating its debt for the first time, Moody’s gave Canada Goose a B1 corporate family rating and a B2 rating to a proposed senior secured loan of 402 million Canadian dollars (€258m-$300m) due in 2027, nearly half of which would be used to add cash to its balance sheet and ...
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Article
Goat, the sneaker reseller, is valued at $1.75 billion as it raises more funds
With the resale market being as hot as ever, no doubt due partly to the increasing role that the internet is playing, the U.S.-based Goat Group closed an additional Series E funding round $100 million, saying that it was intended to accelerate its development across product categories and geographies. According ...
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ArticleTonal, Zwift and RunMotion Coach get new financing
The growing home fitness trend inherited from coronavirus-related self-confinement measures is whetting the appetite of investors, commanding high valuations that are nourishing the most promising start-ups and pioneers in connected and personalised fitness like Peloton. More of them have been able to raise new funds after Gymshark and Wattbike. Like ...
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CODI is set to buy Boa Technology for $454 million
Compass Diversified (CODI) has entered into a definitive agreement to acquire Boa Technology, which owns the Boa Fit System for shoe fastening. The purchase price of $454 million excludes working capital and other adjustments. The deal is expected to go through in the next 45 days or so, and Boa ...
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ArticleFischer lays off 150 workers, sees possible recovery
Like Rossignol, which has just announced the elimination of 95 jobs, Fischer Sports has decided to lay off 150 workers at its Ukrainian ski factory following a drop of about 25 percent in pre-orders for the coming autumn/winter season, although the management is cautiously optimistic about the near-term future. There ...
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ArticleRossignol restructures its ski production
The Rossignol Group has presented a reorganization plan to its staff that will involve the elimination of 95 jobs at its head office and at its ski factories in France. These and other measures are intended to save between €10 million and €15 million per year, adapt the production apparatus ...
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ArticleChamatex raises €10m to relocate the production of sports shoes to France
In a project initiated a year ago by a French textile producer, the Chamatex Group, the construction of a new shoe factory intended to relocate the production of top-of-the-range shoes from Asia to France started on Sept. 17 in Ardoix, where the company is based. The first three clients will ...
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News briefsExtrem Skis expands ski factory in Åre
The Swedish ski brand Extrem Skis has unveiled pictures of the new 350-square-meter expansion of its ski factory in Åre. The company stated that it took three years of planning and one year of construction to complete the new annex. Extrem Skis also invested in two state-of-the-art machines and drilled ...
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Defying Apple, Peloton sees itself as the fitness industry’s Netflix
At an investor day held after the release of exceptionally strong financial results, Peloton Interactive said it felt that it could hold its own against competitors like Apple with its subscription-based model and its vertical integration to deliver a total fitness experience, creating a global community of consumers who want ...
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News briefs
A new Iberian distribution company, Excens Sports, for Fischer and other brands
Spain’s Excens Group, which owns several outdoor and bike brands, has moved into wholesale distribution, acquiring the Iberian distribution rights for the Fischer, Smith, Barts, Level and Polaroid brands. To handle them, it has created a distribution company called Excens Sports. The group is planning further expansions of its brand ...
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ArticleApex’ losses widen while it seeks strategic alternatives
Impairment charges of close to $10 million, mostly related to the impact of the Covid-19 pandemic; weighed on the profits of Apex Global Brands, previously called Cherokee Global Brands. The net loss for the parent company of Hi-Tec, Magnum,Tony Hawk and other brands expanded by 5 percent to $1.3 million ...
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Klarna’s high valuation proves the merits of buy-now, pay-later schemes
Klarna, the Swedish provider of online payment services, raised $650 million in an equity funding round that values the whole company $10.65 billion. Known in Europe for the growing popularity of its buy-now, pay-later program, claims that the valuation ranks it as the highest-valued private fintech in Europe and the ...
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News briefs
Benko gets 92.5% of Signa Holding
René Benko, the Austrian investor, is raising his indirect stake in Signa Holding to 92.5 percent by financing the bulk of a €485 million equity increase through the holding companies that he controls, according to Bloomberg and various Austrian media. Another shareholder, the Swiss-based investor Ernst Tanner, will see his ...
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News briefs
Glenmuir launches a special online platform
Glenmuir has launched a new online platform that is meant to simplify the buying process for golf professionals and retailers who wish to order club-crested clothing made by Glenmuir and its subsidiary Sunderland of Scotland. Described as being the first of its kind in the golf industry, the platform can ...
