More corporate news – Page 25
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ArticleKanye West seeks to part ways with Gap
As our colleagues at the American edition of SGI are reporting, Kanye West has instructed his attorneys to cite breach of contract and end his deal with Gap. The rapper turned apparel and footwear designer has been badmouthing the company on Instagram as well as in the press, notably in ...
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News briefsOn opens new global headquarters and flagship store
The Swiss company On opened its new campus and global headquarters named On Labs, located in Zurich and offering space for roughly 1,000 employees (to date filled with the On staff of 700). Also, part of the building with a total size of 15,000 sqm is Europe’s first On flagship ...
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News briefs
Tonal seeks to raise $100 million in financing
Bloomberg reported that Tonal Systems is seeking $100 million in financing in a deal that would value the company at $1.9 billion. The home fitness start-up, launched in 2015 and based in San Francisco, has previously raised money from athletes including Serena Williams, LeBron James, Drew Brees and Mike Tyson. ...
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News briefsSport 2000 Austria celebrates 50th anniversary
Over the past 50 years, Sport 2000 Austria has developed from a small garage with ten retailers to Austria’s largest sports retailer community with currently 232 retailers. Sport 2000 Austria employs around 3,450 people and will achieve a projected turnover of 700 million euros in its anniversary year (estimate based ...
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News briefsEquip App raises CHF 5 million to revolutionize access to sports
Geneva-based private equity firm The New Frontiers (TNF) led the 5 million Swiss francs funding round for Equip, a self-service rental app founded in 2021 that promises to fundamentally change the way sports are played at the local level. Equip was born in Switzerland in 2021 out of a desire ...
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News briefsBasicNet to open “Basic Village” in Milan
Italian group BasicNet will open its “Basic Village” in Milan on Sep. 21 during Fashion Week. The 4,500-square meter space will feature offices, showrooms, restaurants, commercial activities and lofts. BasicNet Group is the parent company of the Kappa, K-Way, Sebago and Superga brands. K-Way accounts for 65 to 70 percent ...
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ArticleGymshark opens first brick-and-mortar store
Gymshark has announced it will open its previously announced flagship store on Regent Street in London on Oct. 1. This first-ever brick-and-mortar store for the British brand will span around 1,700 square meters and feature several other functions in addition to the sale of Gymshark products and apparel. For example, ...
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News briefsLululemon at Club Pilates studios in Spain
Lululemon has begun distributing its products at the Club Pilates studios in Spain, Palco23 has reported. The Canadian athletic apparel retailer already has similar agreements with Club Pilates in other countries, including the U.K. and U.S. Club Pilates, which is owned by California-based Xponential Fitness, which currently has three studios ...
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News briefsAndrés Iniesta launches new sportswear brand Capitten
Spanish footballer Andrés Iniesta has launched Capitten, a new sportswear brand. Capitten’s debut line features the One 888, the flagship product of the brand’s collection. It’s a limited-edition football boot for adults and children, designed in partnership with Japanese firm Shimpei Inoue and inspired by the 1980s. The shoe is ...
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News briefs
Partnership between Porsche and Red Bull does not materialize
In the course of a possible Formula 1 entry by Porsche, Porsche AG and Red Bull have held talks in recent months. Both companies have jointly concluded that these talks will not be continued, Porsche said in a press release. The premise was always a partnership at eye level, including ...
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News briefsSkechers expects situation in China to ease
Skechers still sees the international market as key to its goal of reaching $10 billion in sales by 2026, despite ongoing headwinds in China. The company said at the Goldman Sachs Global Retailing Conference that it expects the situation in the People’s Republic to improve within two quarters. It will ...
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ArticleCanada Goose shows optimism about consumer demand
Canada Goose is optimistic that its fiscal 2023 income statement will not include any red figures, as its luxury consumer base remains relatively unfazed by the market’s current woes. At the Goldman Sachs Global Retailing Conference, the company said the North American market will remain very healthy in 2023, while ...
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News briefsSnowsports year-round in the heart of Stockholm
SkiStar, a company that runs Scandinavia’s biggest resorts, has worked with dry slop surface manufacturer Neveplast to create SkiStar SummerSki, a new 470-meter long dry ski slope in the heart of Stockholm. With an overall skiable surface of 9,000 square meters, the slope is one of Europe’s longest and largest ...
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News briefsCallaway completes name change
Source: Topgolf Callaway Brands Corp. New name and logo On Sep. 6, 2022, Callaway Golf Company changed its corporate name to Topgolf Callaway Brands Corp., as previously announced, pursuant to a certificate of amendment to the company’s second restated certificate of incorporation filed with the Delaware Secretary ...
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ArticleSport 2000 Austria well positioned for upcoming challenges
Source: SPORT 2000 Holger Schwarting, CEO Sport 2000 Austria, which is celebrating its 50th anniversary this year, is expecting slight sales growth in its anniversary year. ”The times are very eventful at the moment. On the one hand, sports retailers are benefiting from the megatrends of sports ...
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News briefsCastore secures £50 million debt facility
Sportspromedia reports that Castore has secured a new £50 million (€58.2 million) revolving credit facility (RCF). This would increase the value of the British sportswear brand to £750 million (€872 million). The RCF has an initial term of three years and includes banks HSBC, BNP Paribas and Silicon Valley Bank. ...
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News briefsPeloton with delayed annual report
Peloton Interactive will need up to 15 additional days to file its 10-K report for the fiscal year ended June 30, which was due Aug. 29, according to a filing with the U.S. Securities and Exchange Commission (SEC). The reason given is that the company is still calculating the impairment ...
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News briefsiFit Health & Fitness reportedly loses key executives as CEO search continues
IFit Health & Fitness, the U.S. connected fitness company that formally withdrew its registration statement for an initial public offering in early April, is losing two top senior executives, according to a report by the NY Post yesterday. CFO Steve Barr, named co-president in February, and Tony Smith, a 28-year ...
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ArticleCallaway Golf to change company name
Callaway Golf Company announced plans to change its corporate name to Topgolf Callaway Brands Corp. Following the company’s merger with Topgolf in 2021, “the name change reflects Callaway’s dynamic brand portfolio that has unmatched scale and reach across the full modern golf and active lifestyle ecosystem, including on- and off-course ...
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News briefsMycel Project closes $10m financing round for new production facility
The South Korean biomaterials start-up company Mycel Project, a spin-off of the Hyundai Motor Group, has just closed a new pre-Series A funding round, raising a total of $10 million. Six main investors (a Hyundai Motor fund among them) are now involved in the company funding, most of them based ...
