Corporate:
+++ Saying that it spends more than 3% of sales on R&D, China’s Peak Sport reported the establishment of a new sports science laboratory in Xiamen, which is working with universities and other institutions to incubate innovative ideas for sports clothing and footwear
+++ Bianchi plans to build a new high-tech headquarters and production factory in the Italian town of Treviglio, reshoring some of the manufacture of its bikes’ frames
Distribution:
+++ Namuk, a Swiss brand of children’s functional outerwear and accessories founded in 2016 by Franz Bittmann, founder of the Eleven brand of snowboarding apparel, has set up a U.S. subsidiary led by Erin Sullivan
Legal & Institutional:
+++ Citing repeated human rights abuses in China, the Canadian government has joined those of the U.S. and Australia in a diplomatic boycott of the Winter Olympic Games in Beijing
+++ The Council of the European Union has agreed to allow member states to apply reduced VAT rates on the sale, rental and repair of bicycles, including e-bikes, as part of a wider VAT Directive that still has to be approved by the European Parliament (more in The Outdoor Industry Compass)
+++ Amélie Mauresmo, the former French tennis champion, has been appointed president of Roland-Garros, taking the place of Guy Forget until at least 2024
+++ Mike Dowse, who left as president of Wilson after Amer Sports’ takeover by a Chinese consortium to become president of the U.S. Tennis Federation in 2019, announced that he will retire at the end of February
+++ Vipe Desai is replacing Sean Smith as executive director of SIMA, the U.S. Surf Industry Manufacturers Association
