Buying groups partner with Nike and Brooks on charity runs
To help support sports clubs in Germany that are under pressure as a result of the Covid-19 restrictions and following withdrawals, Nike and Intersport are joining ranks for the launch of the new Nike Pegasus 38 running shoe with a “Keep Clubs Running” charity campaign, in which donations of up ...
Reebok is seen reaching Ebitda of €200m by 2025
The Adidas Group has asked prospective buyers for the Reebok business to submit a first round of bids next week, according to Reuters, based on a projection that its sales will grow at an annual average rate of 10 percent in the next years, generating Ebitda of at least €200 ...
Under Armour raises FY guidance after a 35% sales hike in Q1
Under Armour raised its full-year guidance for sales and profits after reporting better-than-expected results in the first quarter, as its business continues to rebound from Covid-19 shutdowns and a restructuring plan launched last year is bearing fruits.
New Recycled Polyester Challenge aims to treble volumes
After the launch in 2017 of a “Sustainable Cotton Challenge,” Textile Exchange is now launching the “Recycled Polyester Challenge,” working in cooperation with the Fashion Industry Charter for Climate Action. The 85 brands and suppliers involved aim to increase the proportion of recycled polyester fibers used in their products from ...
Nike remains the world’s most valuable apparel brand
Nike has been awarded the title of the world’s most valuable apparel brand for the seventh consecutive year, despite a 12.5 percent drop in brand value to $30.4 billion, according to the Brand Finance Apparel 50 2021 report. Although Nike’s sales took a hit last year due to the pandemic, ...
Industry and governments react to Myanmar military coup
Pou Chen, the Taiwanese group that controls Yue Yuen, announced on March 30 that it has decided to shut down temporarily its production of athletic shoes for Adidas and Nike in Myanmar for safety reasons. The local management and essential staff will remain in place for maintenance purposes.
Statements on forced labor stoke short-lived ire in China
The boycott in China of Nike, Adidas and other Western brands over their stance against alleged human rights violations in the cotton-manufacturing province of Xinjiang is losing momentum, at least in the sports sector, according to an article in the South China Morning Post. Both Nike and Adidas have remained ...
Uzbekistan 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 ...
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 ...
Supply chain transparency: where are sports shoes made?
We outlinte 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.
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 ...
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 ...
Footwear 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 ...
Adidas 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 ...
Adidas 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 ...
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 ...
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.
Adidas 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 ...
The 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 ...
