More corporate news – Page 60
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ADIFO launches U.S. operations
The Adi Dassler International Family Office (ADIFO), a privately-owned, independent wealth advisory firm for families, recently launched U.S. operations in Miami and Tampa, Florida. ADIFO was founded by Klaus, Horst and Stefan Bente, the three sons of Inge Dassler, the oldest daughter of Adidas’ founder, Adi Dassler. Currently run by ...
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ArticleLloyds Fonds acquires 2.4% of Polygiene
As we reported earlier, the Swedish fabric technology brand Polygiene, which was founded in 2006 as a spin-off of the Swedish chemical company Perstorp, was among the winners in the Covid-19 pandemic thanks to its new antiviral treatment, ViralOff®, which was launched in April. This success also aroused the interest ...
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Storck Bicycle in ownership reshuffle
Markus Storck, Storck Bicycle’s founder and managing director, has sold 25 percent of his shares to Stefan Lohwasser. Meanwhile, Lohwasser has acquired a 25% share in Storck Bicycle from Decathlon. Storck and Lohwasser are now equal partners in the cycling label, which is celebrating its 25th anniversary this year. The ...
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Moody’s downgrades Callaway
While Standard & Poor’s has confirmed Callaway Golf Company’s credit rating because of better-than-expected results, Moody’s has lowered its corporate family rating and that of its senior secured loan, to B1-PD, while giving the company a higher probability of default because of the coronavirus pandemic. It feels that Callaway’s operating ...
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Wolverine adopts First Insight's consumer analytics
Wolverine Worldwide has announced a strategic partnership with First Insight under which it will deploy its Voice of the Customer predictive analytics solution across its portfolio of 12 brands, including Merrell, Sperry, Saucony, Hush Puppies and Keds. The deal follows a successful test conducted by Hush Puppies in different regions ...
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ArticleA £1 billion valuation for Gymshark
A New York-based private equity investment firm, General Atlantic, said it is acquiring a 21 percent stake in Gymshark, a fast-growing U.K.-based fitness apparel brand born eight years ago, in a deal that values it at more than £1 billion (€1.11bn-$1.32bn). While the fitness apparel market is very buoyant right ...
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Fanatics’ valuation reportedly rose to $6.2 billion after new funding round
Fanatics, the fast-growing, vertically integrated licensed sportswear company, has reportedly reached a marlket value to $6.2 billion while raising $350 million in a Series E funding round arranged by Goldman Sachs. The round, which was oversubscribed, is expected to be the last private funding for Fanatics before the company files ...
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Champion's Nordic office moves to Stockholm
Champion’s head office and showroom for the Nordic countries is moving to the center of Stockholm from its logistics hub at Tyresö. The move follows the appointment a year ago of Klas Ottoson as head of Northern European operations. The former Ralph Lauren executive took the place then of Ralph ...
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Boardriders sells a U.K. retail chain to its founder
After long discussions, Boardriders has resold selected assets of Two Seasons, a British action sports retailer, to its founder, Stuart Roberts, helped by two investors. Roberts founded Two Seasons in 1982, when he was 19 years old, and sold it to the former Billabong Group in 2007 when it had ...
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Good ratings for Adidas
The Adidas Group got strong investment-grade ratings from Standard & Poors and Moody’s – A+ and A2, respectively – with a stable outlook, making it one of the top-rated companies in the sporting goods industry. The two agencies praised the Big a for its diversification in terms of geographies, products ...
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Frasers delays financial report, establishes a new commercial division
Frasers Group – formerly Sports Direct International – says it is delaying the presentation of its annual results, as it did last year, because it needs more time to complete the accounts and their audit. The report is now due to be released on Aug. 20 instead of Aug. ...
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Tennis champion Maria Sharapova Invests in Therabody
Maria Sharapova is investing in a U.S. company, Therabody, formerly called Theragun, which is known for its Theragun percussive massage therapy devices. The former Russian tennis star is also going to be a member of the advisory board of the Los Angeles-based company. Nothing has been reported about the amount ...
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Superdry secures £70 million financing facility
Superdry has secured a £70 million (€77.5m-$91.2m) Asset-Backed Lending (ABL) facility that is supposed to help the company get through the coronavirus crisis. The facility is provided by its current lenders, HSBC and BNPP, with terms extended until January 2023, in place of January 2022. Superdry’s revenues were down by ...
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Nike to lay off 500 at its headquarters
Nike will be laying off 500 or more employees – some executives included – from its headquarters. Among them will be executives and the 192 employees of several company-run nurseries. To this end the company has filed a Worker Adjustment and Retraining Notification Act notice with the state of Oregon. ...
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ArticleBritain’s DW Sports will close all its stores
DW Sports, a big operator of gyms and sporting goods stores across the UK, has entered into administration, a British form of insolvency. All its shops and some of the gyms are set to be closed down, putting 1,700 jobs at risk, but DW plans to work with its joint ...
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Nike drops plans for “Air” plant in Arizona
It turns out that Nike will not be opening its third Air Manufacturing Innovation plant – after those in Oregon and Missouri – in the city of Goodyear, Arizona. The company announced an investment of $184 million in the plant and the promise of more than 500 full-time jobs on ...
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ArticlePositive numbers and a radical rescue plan for Bogner
Bogner, the sports fashion label based in Munich, has just published its figures for the 2019/20 financial year. According to their press release, the company generated €163 million in turnover. Earnings before taxes amounted to €2.6 million, up sharply from €0.3 million in the previous fiscal year. The company increased ...
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Mavic is saved by Bourrelier
The Grenoble Commercial Court has named the Bourrelier group as the new owner of Mavic, the historic French brand of cycling accessories specializing in high-tech wheels that was recently divested by Amer Sports. Mavic went into receivership in May, as reported by SGI Europe on May 11, after posting a ...
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Slinger Bag partners with a special tennis service firm
Slinger Bag, the new portable tennis ball launcher, has signed an exclusive partnership with Dahcor and its new Dahcor Tennis Center (DTC) in Sintra, Portugal. Dahcor, a company that specializes in the manufacture of customized tennis racquets, started operating in Portugal in January 2019. Its tennis center, which will have ...
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Wanda Sports completes the sale of The Ironman Group
The Wanda Sports Group has announced that the company has completed the sale of The Ironman Group to Advance, a family-owned business that owns and invests in companies across media, entertainment, technology, communications, education and other sectors. The transaction was first announced in March. Advance’s portfolio includes Condé Nast, Advance ...
