Latest Headlines – Page 209
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A new European director for Puma
Arne Freundt, 39, has been appointed as regional general manager of Puma for Europe and the Eastern Europe, Middle East, India and Africa (EEMEA) region, with immediate effect. He succeeds Martyn Bowen, a veteran of the company who has been with Puma for more than 20 years, holding various management ...
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The EU is probing Nike’s tax treatment
The European Commission announced yesterday that it had opened an in-depth investigation into whether the tax rulings granted by the Dutch government to Nike's European operations may have given the group an unfair advantage over its competitors, in breach of the European Union's rules on state aid. Pointing out that ...
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Nike’s digital disruption paid off in Q2
Crediting the efforts being made to execute its Consumer Direct Offense program, Nike reported better-than-expected results for the second quarter ended on Nov. 30. Revenues grew by 14 percent on a currency-neutral basis across the group, with increases of 14 percent for the Nike brand and 6 percent for Converse. ...
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Nike has many outlet stores in the U.S. and Northern Europe
According to the company's two most recent annual reports, Nike added 40 stores worldwide between the end of its financial year in May 2017 and the end of the subsequent fiscal year in May 2018, for an increase of 3.5 percent. The total store count stood at 1,182 by May ...
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Foot Locker invests in Super Heroic
With a Series Seed II investment of $3 million, Foot Locker has acquired a minority stake in Super Heroic, a maker of children's playground shoes. Foot Locker will become a board advisor to Super Heroic, and the Kids Foot Locker chain will be the first brick-and-mortar retailer of Super Heroic ...
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Asian alliance for Signa
In a significant new strategic move, the Signa Retail group has found two strong retail partners in Asia to consolidate and further internationalize its specialized online sports retail operations, grouped under its Signa Sports United (SSU) subsidiary. The new partners are Aeon Co., the biggest retailer in Japan, and Central ...
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XXL reports on major Q4 losses and its CEO’s exit
On Dec.18, XXL announced disappointing fourth quarter results and the departure of its brand-new chief executive, Ulf Bjerknes. The news sparked an immediate fall in the Norwegian sports retailer's stock price as well as a press conference the next day to explain the bad results.In a trading update, XXL revealed ...
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Footasylum issues a profit warning, due to high discounting
Footasylum says it faced greater than expected promotional and clearance activity in the 18 weeks to Dec. 29 due to difficult trading conditions, prompting the British sports lifestyle retailer to issue a profit warning. This is in line with warnings made by other U.K. retailers like Asos and Sports Direct indicating ...
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Outnorth merges with Fjellsport
Two strong Nordic e-commerce players, Fjellsport from Norway and Outnorth from Sweden, are merging. Both Fjellsport and Outnorth are leaders in their respective local markets, and the merger is expected to drive further consolidation of their position in the outdoor segment, although Outnorth has a wider range of products.Fjellsport and ...
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New owners, new team for flash-sale e-tailer
Born in 2010 and based in the Southern French city of Montpellier, Private Sport Shop (PSS) claims to have become the only leading destination in Europe for flash sales of discounted performance-oriented sports products, contributing the bulk of an online turnover that grew by about 20 percent to around €100 ...
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Premium football clubs get more, want more
Adidas and Juventus, the high-ranking football club of Turin, Italy, have revised and extended their partnership. The current deal was going to run from 2015 to 2021, over six seasons. The new deal will go into effect in 2019 and run for eight seasons until 2027.Adidas will serve as technical ...
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Le Coq’s owner saves a French shoe plant
Compagnie Vosgienne de la Chaussure (CVC), the French shoe factory sold by the Vivarte group to a German investment fund at the end of 2016, has found a new investor, just as it was about to be liquidated. Petrus Finance, a Swiss holding company that indirectly controls Le Coq Sportif, ...
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Elan changes hands again
A new €250 million private equity fund focusing on the Balkan region and the Baltic countries launched by KJK Management of Luxembourg in 2018, called KJK Fund III S.C.A. SICAV-RAIF, has agreed to acquire all the shares of the Elan group, whose snow sports equipment operations continue to perform well. ...
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France beats the U.S. in a rising ski market
After three years of stagnation or decline, the number of skier visits went up by 4 percent worldwide during the 2017/18 winter season, according to the 10th edition of the International Report on Snow & Mountain Tourism issued by Laurent Vanat, which now covers 2,113 ski resorts in 67 countries ...
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A Norwegian ski champion launches glasses and gloves
A Norwegian cross-country skiing star, Petter Northug, has launched his own brand, called Northug. The first products set to be launched in 2019 will be a line of sports glasses designed by an award-winning industrial designer, Bård Eker, and Eker Design. Eker is best known for the design of a ...
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A European label for physical activity in the workplace
Assosport, the Italian sporting goods industry association, represents Italy within EMoCS (European Meetings for Company Sport), a European project to raise awareness of the importance of physical activity, especially in the workplace. The project is led by the European Federation for Company Sport (EFCS) with European partners from Italy, France, ...
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The EU has launched its Circular Plastics Alliance
The European Commission has launched an alliance of key industry stakeholders across the full plastics value chain as part of its efforts to accelerate Europe's transition toward a circular economy. The Circular Plastics Alliance is meant to stimulate the reduction of plastics littering and increase the share of recycled plastics, ...
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Gore launches new three-layer laminate
W.L. Gore & Associates has announced the launch of a new three-layer laminate for outdoor apparel next year, as part of its offerings to help reduce the environmental footprint of outdoor fabrics. The new Gore-Tex 3-Layer features a recycled and solution-dyed polyester backer, as well as a durable water-repellent ...
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Ispo Munich expands
Ispo Munich will reach a high watermark of 200,000 square meters on Feb. 3-6, adding a further two halls – C5 and C6 – from last year's total of 16. The show is making plenty of room for meetings and networking.For 2019, the themes are “Health, Physical Activity and Sport,” ...
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Sweden to host Winter Special Olympics in 2021
The Special Olympics, the global sports organization for children and adults with intellectual disabilities, has announced that Sweden will be hosting the World Winter Games in 2021. The Special Olympics World Games take place every two years, alternating between Summer and Winter Games. The 2017 winter edition was held in ...
