All Corporations articles – Page 89
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Signa Sports United launches its online stores in Japan
Outfitter, one of the online retail chains of Signa Sports United (SSL), has launched its first online store in Japan in cooperation with Aeon. The two partners plan to add other online stores for two other properties of SSL, Tennis-Point and Probikeshop, in Japan next month. The Austrian-based Signa Retail ...
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Kinnevik sells shares in improving Zalando
Kinnevik, which is Zalando’s biggest shareholder, has sold 10.6 million shares in Zalando to institutional investors, reducing its stake from 26 percent stake to 21.3 percent and taking advantage of a recent increase in the e-tailer’s share price. The announcement came just before Zalando said that it will post significantly ...
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Short stops
Corporate short stops
+++ Lagardère Sports and Entertainment, the global sports marketing firm, has been rebranded as Sportfive, with an underlined “v” +++ Frasers Group, the parent company of Sports Direct, has made a portfolio investment, acquiring a 5.1% stake in Hugo Boss in the form of shares and derivatives +++ VF Corp. ...
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Head is about to buy Zoggs
Head is in advanced discussions for a takeover of Zoggs International, the leading U.K.-based brand of swim goggles, says an insider, commenting on a report in Sky News, stressing that the transaction is not yet completed. Mark Hammersley, the former president of Speedo International who has been running the brand ...
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Specialized will have a new French head office
Construction of a new 2,250-square-meter facility for Specialized France has been launched in Valence, in southeast France, in the Parc d’Activité de la Lautagne. According to reports in sport-guide.com, the facility is scheduled for inauguration in January 2021. The historic headquarters of Specialized France at Charmes-sur-Rhône, near Valence, was destroyed ...
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Mike Ashley makes new investments in fashion
Frasers Group, the parent company of Sports Direct, continues with its portfolio investments in the fashion sector, acquiring a 5.1 percent stake in Hugo Boss in the form of shares and derivative put options. If the options are fully exercised, the total exposure would be worth a maximum of around ...
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Boardriders sees it credit rating lowered
Standard & Poor’s has downgraded Boardriders’ debt rating to CCC+ from B- after the company reported that it recorded “severely negative” Ebitda on 40 percent lower revenues for the second quarter ended on April 30, indicating that it may need additional liquidity to meet its obligations. Ebitda is expected to ...
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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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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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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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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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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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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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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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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 ...
