Latest Headlines – Page 343
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Elan to go private
Elan says that its shareholders, related to the Slovenian state, have signed a letter of intent with Argus Capital, a private equity fund specializing in investments in Central and Eastern Europe, to sell their stake and thereby privatize the Slovenian ski and boating company. The deal would encompass the entire ...
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Record sales for Amer, but ski is down
Winter sports equipment sales at Amer Sports, the Finnish group that owns Salomon and Atomic, ended the past year with a drop of 5 percent to €425 million, which was a decline of 8 percent in constant currencies. The company previously indicated that its pre-orders for winter sports equipment had ...
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Li Ning launches a secondary offering
The Li Ning Company wants to raise up to HK$1.87 billion (€176.5m-$241m) through an open offer of convertible securities, to complete its wide-ranging restructuring moves and investments in the Li-Ning brand.The company's shares were pummeled on Jan. 25 when it announced the offer, which allows existing shareholders to swap two ...
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Brooks reports double-digit growth and organizational changes
Brooks Running posted a 43 percent revenue increase in the U.S. market and a 41 percent increase on a local currencies across its European markets for 2012. In the face of strong results, Brooks Sports, which includes Brooks Running and Moving Comfort, will undergo a major realigning of its business ...
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Lotto strikes a new agreement in Poland
Lotto Sport Italia has sealed a licensing agreement with the Marketing Investment Group (MIG) in Poland, which will run for five years until 2017, encompassing all ranges of footwear, apparel and accessories. The Italian brand, which focuses on team sports and tennis, was previously sold in Poland by the Optimum ...
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Move is moving fast
Move (pronounced as in mohvey), a Brazilian sporting goods industry association formed in September 2010, is attracting new members and developing many new initiatives since the appointment of its first full-time secretary general, Andre Raduan, a few months ago.The association, which belongs to the World Federation of the Sporting Goods ...
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Ispo Award winners announced and explained
Messe München has announced this year's winners of the Ispo Award. In addition to the regular prizes for the Products of the Year, this time the jury has also selected the overall winners in the new categories of Asian Products and Marketing:- Action sports: Burton for its M2 goggle, whose frame ...
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E-Land to buy K-Swiss
After many months of speculation, K-Swiss said this week that E-Land, the South Korean fashion and retail giant, had agreed to buy the ailing Californian sports apparel and footwear company at a price of $4.75 per share in cash, which values the K-Swiss group at about $170 million.This amounts to ...
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VF mulls bid for Billabong
The stage was set for a takeover battle around Billabong International this week after the company received yet another conditional offer – this time from a consortium comprising Altamont Capital Partners, a private equity firm from San Francisco, and VF Corporation, the owner of The North Face, Vans, Timberland, and ...
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Rip Curl loses its head
Olivier Cantet is resigning as global chief executive of Rip Curl and head of its European operations after 10 years with the Australian brand of surfwear. He does not want to say anything about his plans at this stage, but it seems that he is ready for a new challenge ...
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Joffard and family pull out of Lafuma
Philippe Joffard and the Lafuma family have decided to sell their remaining shares in the Lafuma Group, the French company that markets the Lafuma, Eider, Millet and Oxbow brands. Their 15.2 percent stake was acquired by the French subsidiary of Calida, a Swiss group that sells lingerie and underwear under ...
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New European chief and regional managers at Puma
Top management changes are continuing unabated at Puma with the departure of Sergio Bucher, the company's European general manager. Volfango Bondi, formerly Puma's director of global sales, was appointed as Bucher's successor on Monday, with immediate effect. The Italian manager joined Puma in 2009 after several years at Nike Italy ...
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Amer reinforces its European sales apparatus
Amer Sports is reinforcing the structure of its sales operations in the Europe, Middle East and Africa (EMEA) region by establishing a new network of commercial directors, strategic account managers and field sales managers with specific functions. The Finnish-based group has also appointed a new high-caliber general manager for its ...
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Change of management at Lacoste
Less than two months after the change of ownership at Lacoste SA, its general manager, Christophe Chenut, has left the company. He has been replaced by José Luis Duran, the chief executive of Devanlay, the French apparel maker that is Lacoste's most important licensee. Devanlay is owned by Maus Frères, ...
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Basicnet settles with Italian tax authorities
Basicnet, the Italian company that owns the Kappa, K-Way and Superga brands, among others, has agreed to pay €15 million over three years in a settlement with Italian tax authorities for 2006. The tax office in Turin said that the payment would amount to nearly €21 million including punitive charges ...
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JD enjoys festive season, Blacks still weak
While the festive season proved fatal for several British retailers, the JD Sports Fashion group boasted that comparable sales jumped by 3.2 percent for the seven weeks until Jan. 5 in its JD and Size stores in Britain and Ireland.For the 49 weeks from the start of the fiscal year until ...
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Go Sport sags in France, expands in Poland
Groupe Go Sport, the French sports retailer, saw its sales shrink by 5 percent to €162.2 million for the quarter until the end of December, which was a decline of 4.2 percent in constant currencies and comparable store sales. This weakness in the last stretch of 2012 led to a slight sales drop ...
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Dutch budget retailer in trouble
Schoenenreus, a Dutch discount shoe retailer with more than 200 stores selling sports and other footwear, obtained protection from its creditors earlier this month. Its financial troubles were attributed to the unease among Dutch consumers about the weakness of the European economy and growing competition from online stores.Spread around the ...
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Shimano builds European soft goods operation
As previously announced, Shimano has brought together all the activities of its Shimano and Pearl Izumi brands in apparel, eyewear and bags at a European head office dedicated to these categories. The office in Kirchzarten, Germany, previously supervised the European activities of Pearl Izumi alone. The integration became effective at ...
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McIlroy swings for Nike
After many weeks of speculation and buzz, the partnership between Nike Golf and the Northern Irish golfer Rory McIlroy was launched with great fanfare in Abu Dhabi this week. The game's top professional player since March 2012 is said to have signed a 10-year deal worth between $200 million and $250 ...
