All Corporations articles – Page 88
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News briefs
Adidas will hold a virtual AGM
The supervisory board of the Adidas Group has decided to hold its annual general meeting in a purely virtual format on Aug. 11, using a dedicated portal on the group’s website, www.adidas-group.com/agm. Shareholders of record who have registered for the AGM will be able to submit questions on the portal ...
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News briefs
Ultimate Nordic acquires Altra’s distributor
Ultimate Nordic is taking over Getvital Sports, adding Altra running shoes and Injinji socks and technical running equipment to its portfolio of sports and outdoor products, which also includes Buff, Stanley, LedLenser and Soto. Ultimate Nordic is a Norwegian distributor, formerly called Trygve Alm. Established in 1928, it is a ...
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ArticleReebok breaks with CrossFit, whose founder quits
Greg Glassman, who co-founded CrossFit 20 years ago, announced his retirement as its chief executive, after attracting strong criticism for tweeting ”It’s Floyd-19” in reaction to a tweet from the Institute for Health Metrics and Evaluation, which said that racism and discrimination are “critical public health issues.” He resigned from ...
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ArticleFootway wants to buy a streetwear specialist
The Footway Group, the increasingly international Swedish online shoe retailer that recently agreed to merge with Sportamore, wants to create a leading platform for e-commerce in sports and fashion by also acquiring an online retailer of streetwear and sneakers, Californian Roots, or Caliroots for short. Caliroots has been undergoing a ...
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News briefs
Dielmann files for insolvency proceedings under self-administration
Dielmann, a German retailer with 48 footwear and sporting goods stores operating under such banners as Schuhhaus Dielmann and Sporthaus Robert Hübner, filed for insolvency proceedings on June 4. The local court of Darmstadt opened the proceedings under self-administration on June 8. The coronavirus is seen as having been an ...
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News briefs
JD’s boss sells some of his shares
JD Sports Fashion was notified on June 5 by its executive chairman, Peter Cowgill, that he had disposed of 1,985,000 shares in the company at an average price of 671.77 pence a share, leaving him with 6,480,260 shares representing 0.67 percent of the issued share capital. He earned £13.3 million ...
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News briefs
Groupe Rossignol sells Time
The Rossignol Group announced an agreement in principle for the disposal at an undisclosed price of Time Sport International, the French producer of bicycle components that it had acquired four years ago as part of its diversification into the bike sector. Major investments made for its modernization have not been ...
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News briefs
Coalision is insolvent
Coalision, the Canadian company that owns the Lolë and Paradox brands, has filed for insolvency, indicating its intention to offer a settlement to its creditors. One year ago, Coalision parted ways with its previous president, Bernard Mariette, and laid off some of its employees. Mariette, a former president of Quiksilver, ...
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ArticleEncouraging launch for the first UYN footwear line
Trerè Innovation, the Italian knitter of functional products, is confident that its new UYN brand of garments, shoes and accessories will reach by 2021 or 2022 the same level of sales that it registered with its X-Bionic garments and its X-Socks until its European manufacturing and distribution license with the ...
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Article
Karstadt Sports and SportScheck to get closer or divorce
Galeria Karstadt Kaufhof (or Galeria), the new holding company formed in 2018 from the merger of the Galeria Kaufhof and Karstadt department stores, has decided in principle that the management of its sporting goods business will move from Karstadt’s head office in Essen to the headquarters of SportScheck in Unterhaching ...
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ArticleDecathlon targets a 7.5% margin on 10-15% lower sales in 2020
While predicting a drop of between 10 and 15 percent in its global sales for this year, due to the Covid-19 pandemic, Decathlon is planning to accelerate its investments in omni-channel retailing and the development of certain product categories to improve its chances for a relatively quick recovery. Thanks in ...
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News briefs
Private foundation to make an offer to acquire Karstadt Sports
According to SAZ, the German trade publication, a private foundation called the Loitz Family has made an offer to acquire Karstadt Sports. Based in Essen, the Loitz Family aims to take charge of Karstadt Sports’ existing 32 stores in Germany, its headquarters in Essen and its 1,500 employees. It is ...
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News briefs
Lafuma divests its surfwear brand
Lafuma has finalized the sale of Oxbow, its brand of surf-inspired sportswear. The move will allow the French company to concentrate on the outdoor sector with two brands, Lafuma and Millet. The group had previously sold its Eider brand to K2 of South Korea. The new owner of Oxbow is ...
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Article
Who are Planet Sports’ new owners?
A German-Swiss investment company, Invision, and the founding team of a German online specialist, TonerPartner.com, have announced that they have taken over Planet Sports, the pioneering German multi-channel action sports retailer, with the consent of the German Cartel Office, retroactive to May 1. The TonerPartner Group, founded in 1993 and ...
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News briefs
Synergies with GLP after Li & Fung’s privatization
Li & Fung completed its privatization yesterday, pulling out of the Hong Kong Stock Exchange after 28 years. Following redemption of the shares still trading publicly, Global Logistics Properties (GLP), a company based in Singapore that operates warehouses and owns real estate around the world, now owns 67.67 percent of ...
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Article
Karstadt Sports is integrated more closely with SportScheck
Galeria Karstadt Kaufhof (or Galeria), the new holding company formed in 2018 from the merger of the Galeria Kaufhof and Karstadt department stores, has decided that the management of its sporting goods business will move from Karstadt’s head office in Essen to the headquarter of SportScheck in Unterhaching near Munich. ...
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ArticleFoot Locker will convert about 35 Runners Point stores
As we had imagined in reporting the phaseout of its Runners Point banner in Germany, Austria and Switzerland, the management of Foot Locker told investors on May 22 that only about 40 stores would be closed, while the others would be converted to the Foot Locker or Sidestep format. Between ...
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News briefs
Centric Brands goes bankrupt
Centric Brands has filed a voluntary application for Chapter 11 bankruptcy protection, with the support of Blackstone and other secured lenders who are providing $435 million in debtor-in-possession financing. The company said the proceedings will not impact its decision to reopen relevant locations. Centric Brands is a licensee for more ...
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News briefs
XXL has completed its equity increase
The Altor Fund has been confirmed as the largest investor in XXL ASA, owning 23.82 percent of the leading Nordic sporting goods retailer’s shares, as a result of an equity increase of 400 million Norwegian kroner (€36.5m-$39.7m), which ended on May 18. Together with an offshoot, Altor Invest, the Norwegian ...
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News briefs
Maynards to auction two Adidas pilot production facilities
Maynards Europe, the global liquidation and auction specialist, working in conjunction with U.S.-based Heritage Global Partners, are to sell the entire manufacturing equipment of two unique production lines established by Adidas. The facilities were previously a part of a pilot flexible-design manufacturing project, called Speedfactory, for small runs of custom-designed ...
