More Headlines – Page 55
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ArticleX Games plans to launch innovative X Games League
X Games is set to launch a bold new global team-based format in 2026. Backed by MSP Sports Capital (MSP), a portfolio company of Najafi Cos., the new X Games League (XGL) will provide a year-round international competition calendar for the X Games that will allow athletes to earn compensation ...
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ArticlePuma continues major marketing offensive during Euro and Copa
With the second chapter of its first global brand campaign in 10 years, “Forever. Faster. - See The Game Like We Do”, Puma is launching two offshoots of the campaign this summer during UEFA Euro 2024 and the Copa América 2024, in which the company tells the story of its ...
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ArticleMarucci, Victus become official bats of MLB
Marucci Sports LLC, a wholly owned subsidiary of Fox Factory Holding Corp., has entered into a license agreement with Major League Baseball (MLB) to exclusively make its Marucci and Victus brands the official bats of MLB. In addition, the agreement provides for the exclusive rights to use MLB trademarks in ...
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ArticleNew CEO at FootBalance
Source: FootBalance Atul Midha Finnish company FootBalance, a leading provider of healthcare technology and customized insoles, has appointed Atul Midha as its new Chief Executive Officer, effective June 3. Midha joins FootBalance after a distinguished career that has included leadership roles at renowned companies such as Eton ...
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ArticleAn open letter on AI, and the advent of AI OS
More than a dozen current and former employees of some major AI companies have set up a website and published an open letter to companies in the industry on it. Titled “A Right to Warn about Advanced Artificial Intelligence,” the letter acknowledges AI’s potential benefits but seeks to underscore its ...
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ArticleAre compostable sneakers soon ready for mass production?
In late April, Puma announced it would make a commercial version of its Re:Suede 2.0 compostable sneaker. The brand created 500 pairs of its Re:Suede sneaker in 2021 as an experimental project, then asked volunteers to wear them for half a year to test comfort and durability. Now, the brand ...
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ArticleRussian sporting goods industry hit by labor shortage
According to market players, Russian sporting goods retail is hit by a persistent labor shortage. Sportmaster, the largest Russian sporting goods retailer, “undoubtedly experiences a lack of workers,” Valentina Vatrak, Head of Sportmaster’s HR department, has told a local news outlet, Retail. Although she claimed the company is staffed 100 ...
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ArticleRussian sporting goods retail benefits from a surge of health-related costs
A study by VTB, Russia’s second-largest state-owned bank, showed that in the first quarter of 2024, Russians spent Rub 42 billion (€438 million) on health and sports-related costs, 21 percent up from the previous year. The sporting goods industry is reaping the benefits of improving health consciousness among the Russian ...
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ArticleCisalfa opens first Intersport Superstore to strengthen presence in Italy
The Cisalfa Group has opened the first Intersport Superstore in Italy, a new format of multi-brand sports stores. This is a key part of the Italian group’s expansion plan to diversify its offerings and appeal to a broad and diverse customer base to reach new market segments and better respond ...
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ArticleDespite unsatisfactory 2023 result, Hummel’s CEO aims for top-ten market position
In its 2023 financial statements, Danish sports brand Hummel set a new sales record for the third year in a row. Revenue increased from 2.201 billion Danish kroner (€295.06m) in 2022 to DKK 2.225 billion (€298.27m) in 2023. Still, the cost of realizing inventory, rising interest rates and bankruptcies of ...
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ArticleSports fashion giant rises as New Era takes over ’47
New Era and ’47, a privately held premium sports lifestyle brand, have announced an agreement under which New Era acquires ’47.
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ArticleANWR Group is confident about the future
At the Annual General Meeting of the international trade cooperation ANWR Group eG on June 5 in Mainhausen, Germany, the Executive Board presented the strategic fields of action for the coming years under the motto “We make trade successful”. In the future, the ANWR Group will strongly focus on the ...
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ArticleZumiez sees improving trends, another loss in Q1
US retail group Zumiez, which operates 86 Blue Tomato doors across the EU, narrowed its Q1 operating loss and realized improving sales and merchandise margin trends. “Our Q1 results are a further indication that we are progressing towards positive comparable sales and improved profitability,” Zumiez CEO Rick Brooks said. ...
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ArticleIBA and IOC tangle over plan to pay out prize money to boxers
The International Boxing Association (IBA) says that it will be awarding a purse for every medal in boxing at the Paris Olympics. Half will go to the athlete, a quarter to the national federation, and a quarter to the boxer’s coach. The purse will be $100,000 for gold, $50,000 for ...
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ArticleGlobal golf equipment market to post 3% CAGR by 2028
The global golf equipment market size is projected to grow at a compound annual growth rate (CAGR) of nearly 3 percent during the 2024-2028 forecast period, according to a new report by research and advisory firm Technavio. The golf equipment market encompasses a wide range of products, including golf clubs, ...
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ArticleReynold Hoover named CEO of LA28
Source: LA28 The Organizing Committee of the Olympic and Paralympic Games Los Angeles 2028 has announced the appointment of US Army veteran Reynold Hoover as Chief Executive Officer. He will direct the Committee’s day-to-day work and report to Casey Wasserman, the LA28 Chairperson and President. Hoover will ...
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ArticleAuthentic and Beaumanoir announce partnership for Boardriders brands in Western Europe
Authentic Brands Group announced a long-term partnership with Beaumanoir Group, which will take over the former Boardriders business in France and license the Quiksilver, Roxy, Billabong, DC Shoes, Element, RVCA and VonZipper brands in key Western European regions, including France, Germany and the UK. Through the partnership, Beaumanoir, headquartered in ...
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ArticleLululemon business healthy; US dip caused by internal product, color issues
Lululemon delivered strong Q1 results and raised its FY guidance yesterday. But it also pointed out that recent problems in its US business were caused by its own mistakes, not by competitive pressures or market conditions. The Canadian group blamed missed opportunities in not having certain smaller sizes available for ...
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ArticleAuthentic Brands Group to acquire Champion from HanesBrands
HanesBrands’ decision to shed its flagging Champion business, alluded to for months, will come to fruition in the second half of its financial year. Authentic Brand Group has signed a binding agreement to purchase the Champion athletic wear business for up to $1.5 billion. The transaction, expected to close sometime ...
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ArticleFoot Locker to spend as much as $1 billion on stores
In line with the strategy laid out in March of last year, the “Lace Up Plan,” Foot Locker is looking to invest up to $1 billion in opening and renovating stores in a new format all over the world, according to Modaes and other sources. The first such store opened ...
