Latest News – Page 14
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ArticleUzbekistan to produce Nike and Adidas footwear for Asia, Europe
The Uzbek company SinoInternational has inked an agreement to produce 3 million pairs of shoes in total under the Nike and Adidas brand names at its new factory in the Andijan region, starting from the fourth quarter of 2021. The facility is expected to achieve full production in the third ...
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Further comments on Adidas’ focus on fewer categories
As we have already reported, Adidas wants to focus on fewer sports categories as part of its new “Own the Game” business plan through 2025. The outdoor sector is one of them, along with football, running and training.. Adidas’ CEO, Kaspar Rorsted, told the Financial Times a few days ago ...
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ArticleInsights on where sport shoes are made in 2021
We outline where Nike, Adidas, Puma, Asics, and Skechers shoes are made. As watchdogs urge sportswear companies to publish factory lists, we look at the global distribution of top brands’ suppliers.
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Myanmar violence raises concern in the industry
Many sports and fashion brands that have shifted part of their sourcing for apparel and footwear to Myanmar because of its lower labor costs are watching with awe the consequences of the recent military coup in the country. According to observers, it may be difficult for some of them to ...
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Nike releases new Impact Report and sets new targets for 2025
Nike has released the 11th edition of its Impact Report. The document addresses and assesses the company’s 2020 (financial year ended in May, 2020) targets, which were set in 2015, and sets new corporate targets for 2025. Nike has been releasing Impact Reports for two decades and shifted to an ...
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ArticleFootwear companies take sustainability in their stride
Hardly a day goes by without a footwear company or a component supplier announcing a more sustainable product, a recycling program or an environmentally-friendly scheme. Such a flurry of initiatives, which are taking place also outside the athletic footwear sector, is motivated by growing consumer and regulatory pressure as well ...
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ArticleAdidas unveils its business plan through 2025, expanding DTC
After releasing its results for 2020, Adidas introduced a new strategy at a virtual Investor & Media Day, dubbed ”Own the Game,” which it says aims to raise sales, market shares and profits by strengthening the “credibility” of the Adidas brand, by boosting the direct-to-consumer channel and creating a unique ...
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ArticleAdidas ends 2020 with a small plus and a positive outlook
The Adidas Group ended the year with a small sales increase of one percent in local currencies in the fourth quarter, despite a challenging environment, especially in Europe, the only market that suffered a sales decline. As currency headwinds persisted, total sales were down by 5 percent to €5,548 million ...
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Nike is centralizing operations for the Nordics
Responding to an inquiry from SGI Europe, Nike has told us that it is centralizing its operations for the Nordic countries in Sweden, while working with fewer retailers in the region. The statement came after we were alerted by subscribers to the fact that the brand was closing down its ...
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Wildberries and Amazon enter new countries in Europe
Russia’s biggest online retailer, Wildberries, has started to operate in France, Italy and Spain, with dedicated sites and mobile apps tailored to the local markets, the company has said in a statement. It has been operating in Germany since January. The company currently offers about four million items from nearly ...
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ArticleAdidas has decided to divest Reebok
Having completed a month-long review of the brand, the Adidas Group has decided to begin a “formal process” to divest the Reebok brand. The other option would have been to keep it in-house. The German sportswear giant had originally planned to make an announcement on March 10, during a previously ...
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ArticleThe latest on Nike’s presence on Lidl’s marketplaces
Some Nike products are being offered on the German and Spanish marketplaces of LIdl, one of the largest low-cost grocery retailers in Europe, raising some eyebrows. However, Nike released the following statement in reaction to a a report in the Spanish pres: ”Lidl is not a partner in Nike’s marketplace ...
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ArticleVF wants more “equity” in its labor policy
In line with its Council to Advance Racial Equity (CARE) and Inclusion, Diversity, Equity and Action (IDEA) initiative, VF Corp. is implementing a number of new measures in its labor policy. “All VF employees will participate in a foundational inclusion and diversity learning journey to ensure they share a common ...
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ArticleUnder Armour beats expectations
Recent restructuring efforts seem to have been quite effective, as Under Armour reported better-than-expected results for the fourth quarter of 2020. The company surprised analysts by reporting a profit for the quarter, thanks primarily to strong digital growth due to the popularity of its athletic apparel for home workouts, as ...
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VF Corp. wants to eliminate single-use plastic packaging by 2025
VF Corp. has announced new sustainable packaging goals, defined as “a critical component of VF’s global sustainability strategy” for its large portfolio of brands, which includes The North Face, Vans, Timberland, icebreaker and Eastpak, among others. The new targets revolve around the following four pillars : 1) Eliminate all single-use ...
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ArticleBezos hands over leadership of Amazon
In the third quarter of this year, Jeff Bezos will hand over the operational role of CEO at Amazon to Andy Jassy, the head of the company’s cloud business, Amazon Web Services (AWS). Amazon made the announcement on Feb. 2 after the company released very good results for the fourth ...
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Europe helps drive VF’s momentum
After posting a loss for the first quarter of its financial year, ended June 30, VF Corp. bounced back in the second quarter, and the third fiscal quarter ended Dec. 31 confirmed this recovery, driven by Europe and China. The good progress, which was attributed to in part to investments ...
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Nike questions a European tax probe
Nike has asked the European General Court in Luxemburg for the annulment of an investigation by the European Commission into the tax status of its Dutch-based European operations, according to Reuters, arguing that it has failed to prove that certain Dutch tax ruling in its favor amounted to illegal state ...
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VF reorganizes APAC operations
VF Corp. has decided to move the center of its brands’ operations in the Asia-Pacific region from Hong Kong to Shanghai, where it already has some 900 office and retail employees. Some of the operations will also be transferred to Singapore and Kuala Lumpur, the capital of Malaysia. The transition ...
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Will Reebok become black-owned?
Reebok would become the first major black-owned athletic footwear and apparel brand if the African American rap music mogul Percy Rebert Miller, also known as Master P, and a former two-time NBA All-Star, Baron Davis, succeed in their reported bid. According to reports in the ESPN sports network and Forbes, ...
