More corporate news – Page 62
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News briefs
Signa Sports United launches its online stores in Japan
Outfitter, one of the online retail chains of Signa Sports United (SSL), has launched its first online store in Japan in cooperation with Aeon. The two partners plan to add other online stores for two other properties of SSL, Tennis-Point and Probikeshop, in Japan next month. The Austrian-based Signa Retail ...
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Kinnevik sells shares in improving Zalando
Kinnevik, which is Zalando’s biggest shareholder, has sold 10.6 million shares in Zalando to institutional investors, reducing its stake from 26 percent stake to 21.3 percent and taking advantage of a recent increase in the e-tailer’s share price. The announcement came just before Zalando said that it will post significantly ...
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Short stops
Corporate short stops
+++ Lagardère Sports and Entertainment, the global sports marketing firm, has been rebranded as Sportfive, with an underlined “v” +++ Frasers Group, the parent company of Sports Direct, has made a portfolio investment, acquiring a 5.1% stake in Hugo Boss in the form of shares and derivatives +++ VF Corp. ...
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Specialized will have a new French head office
Construction of a new 2,250-square-meter facility for Specialized France has been launched in Valence, in southeast France, in the Parc d’Activité de la Lautagne. According to reports in sport-guide.com, the facility is scheduled for inauguration in January 2021. The historic headquarters of Specialized France at Charmes-sur-Rhône, near Valence, was destroyed ...
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News briefs
Mike Ashley makes new investments in fashion
Frasers Group, the parent company of Sports Direct, continues with its portfolio investments in the fashion sector, acquiring a 5.1 percent stake in Hugo Boss in the form of shares and derivative put options. If the options are fully exercised, the total exposure would be worth a maximum of around ...
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Boardriders sees it credit rating lowered
Standard & Poor’s has downgraded Boardriders’ debt rating to CCC+ from B- after the company reported that it recorded “severely negative” Ebitda on 40 percent lower revenues for the second quarter ended on April 30, indicating that it may need additional liquidity to meet its obligations. Ebitda is expected to ...
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News briefs
Adidas will hold a virtual AGM
The supervisory board of the Adidas Group has decided to hold its annual general meeting in a purely virtual format on Aug. 11, using a dedicated portal on the group’s website, www.adidas-group.com/agm. Shareholders of record who have registered for the AGM will be able to submit questions on the portal ...
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ArticleReebok breaks with CrossFit, whose founder quits
Greg Glassman, who co-founded CrossFit 20 years ago, announced his retirement as its chief executive, after attracting strong criticism for tweeting ”It’s Floyd-19” in reaction to a tweet from the Institute for Health Metrics and Evaluation, which said that racism and discrimination are “critical public health issues.” He resigned from ...
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ArticleFootway wants to buy a streetwear specialist
The Footway Group, the increasingly international Swedish online shoe retailer that recently agreed to merge with Sportamore, wants to create a leading platform for e-commerce in sports and fashion by also acquiring an online retailer of streetwear and sneakers, Californian Roots, or Caliroots for short. Caliroots has been undergoing a ...
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News briefs
Dielmann files for insolvency proceedings under self-administration
Dielmann, a German retailer with 48 footwear and sporting goods stores operating under such banners as Schuhhaus Dielmann and Sporthaus Robert Hübner, filed for insolvency proceedings on June 4. The local court of Darmstadt opened the proceedings under self-administration on June 8. The coronavirus is seen as having been an ...
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News briefs
JD’s boss sells some of his shares
JD Sports Fashion was notified on June 5 by its executive chairman, Peter Cowgill, that he had disposed of 1,985,000 shares in the company at an average price of 671.77 pence a share, leaving him with 6,480,260 shares representing 0.67 percent of the issued share capital. He earned £13.3 million ...
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Groupe Rossignol sells Time
The Rossignol Group announced an agreement in principle for the disposal at an undisclosed price of Time Sport International, the French producer of bicycle components that it had acquired four years ago as part of its diversification into the bike sector. Major investments made for its modernization have not been ...
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News briefs
Coalision is insolvent
Coalision, the Canadian company that owns the Lolë and Paradox brands, has filed for insolvency, indicating its intention to offer a settlement to its creditors. One year ago, Coalision parted ways with its previous president, Bernard Mariette, and laid off some of its employees. Mariette, a former president of Quiksilver, ...
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ArticleEncouraging launch for the first UYN footwear line
Trerè Innovation, the Italian knitter of functional products, is confident that its new UYN brand of garments, shoes and accessories will reach by 2021 or 2022 the same level of sales that it registered with its X-Bionic garments and its X-Socks until its European manufacturing and distribution license with the ...
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Article
Karstadt Sports and SportScheck to get closer or divorce
Galeria Karstadt Kaufhof (or Galeria), the new holding company formed in 2018 from the merger of the Galeria Kaufhof and Karstadt department stores, has decided in principle that the management of its sporting goods business will move from Karstadt’s head office in Essen to the headquarters of SportScheck in Unterhaching ...
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ArticleDecathlon targets a 7.5% margin on 10-15% lower sales in 2020
While predicting a drop of between 10 and 15 percent in its global sales for this year, due to the Covid-19 pandemic, Decathlon is planning to accelerate its investments in omni-channel retailing and the development of certain product categories to improve its chances for a relatively quick recovery. Thanks in ...
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News briefs
Lafuma divests its surfwear brand
Lafuma has finalized the sale of Oxbow, its brand of surf-inspired sportswear. The move will allow the French company to concentrate on the outdoor sector with two brands, Lafuma and Millet. The group had previously sold its Eider brand to K2 of South Korea. The new owner of Oxbow is ...
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Article
Who are Planet Sports’ new owners?
A German-Swiss investment company, Invision, and the founding team of a German online specialist, TonerPartner.com, have announced that they have taken over Planet Sports, the pioneering German multi-channel action sports retailer, with the consent of the German Cartel Office, retroactive to May 1. The TonerPartner Group, founded in 1993 and ...
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Synergies with GLP after Li & Fung’s privatization
Li & Fung completed its privatization yesterday, pulling out of the Hong Kong Stock Exchange after 28 years. Following redemption of the shares still trading publicly, Global Logistics Properties (GLP), a company based in Singapore that operates warehouses and owns real estate around the world, now owns 67.67 percent of ...
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ArticleFoot Locker will convert about 35 Runners Point stores
As we had imagined in reporting the phaseout of its Runners Point banner in Germany, Austria and Switzerland, the management of Foot Locker told investors on May 22 that only about 40 stores would be closed, while the others would be converted to the Foot Locker or Sidestep format. Between ...
