News briefs - Corporate and M&A – Page 10
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News briefsCastore is Britain’s second fastest-growing company, according to the Sunday Times
Castore, the sportswear brand backed by tennis star Andy Murray, has been named the second fastest-growing private company in Britain, according to The Sunday Times Hundred 2023 rankings. Recruitment firm Join Talent tops the list. Castore experienced annual sales growth over three years of 285.8 percent, according to the figures ...
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News briefsPentland Brands looking to establish a youth board
Pentland Brands is joining mission-led start-up The People to form a new youth advisory board at the heart of its employee experience. The group, whose brands include Speedo, Ellesse, and Berghaus, is seeking six young people under 30 in its key markets – the UK, USA, India, Vietnam and China ...
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News briefsSmart wearables and navigation app announce partnership
Smart wearables brand Amazfit, owned by Zepp Health, is now offering routing and navigation connectivity with the popular outdoor activities app Komoot. Amazfit’s proprietary operating system, the Zepp OS, already enables supporting smartwatches to connect to external apps such as Adidas Running, Strava, Relive, Apple Health or Google Fit. ...
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News briefsBeverage mogul takes majority stake in Nobull
Impact Capital, the private equity arm of billionaire Mike Repole, last week acquired an unspecified majority stake in Nobull, a training footwear and apparel brand co-founded by ex-Reebok executives Marcus Wilson and Michael Schaeffer in 2015. His plans for the brand may include an eventual initial public offering. Repole, ...
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News briefsDecathlon may want to make private labels more concise
According to French industry magazine Challenges, Decathlon is planning to consolidate its numerous private brands. According to the publication, CEO Barbara Martin-Coppola plans to reduce the number of brands from around 70 to 12, while the Decathlon brand will be expanded through a range of multi-sport products. A similar step ...
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News briefsWintersteiger with new company structure
Wintersteiger, the Austrian supplier of ski rental and ski service systems, has revised its corporate structure and presents itself as a strategic holding with five independent companies since July 1, 2023. “With regard to the industrialization of our products, we have a lot planned for the next few years,” the ...
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News briefs11teamsports acquires Kickz
11teamsports, one of Europe’s leading team sports specialists for products and team services, has acquired basketball and streetwear retailer Kickz. Kickz was founded in Munich in 1993 and is a multi-brand retailer specializing in basketball and sneakers. Zalando purchased Kickz in 2017 and sold it in late 2019 to Play ...
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News briefsLe Coq Sportif reportedly seeks €30 million in equity financing
In March 2020, Le Coq Sportif secured an agreement to supply apparel for the French Olympic and Paralympic teams for the Paris 2024 Games. The brand was awarded the kit deal as a result of an apparel supplier tender that was issued in September 2019. Three years later, and just ...
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News briefsSrixon Sports Europe opens new headquarters in Surrey
The European subsidiary of the Srixon Srixon Sports Europe has moved into new headquarters in Ash Vale in Surrey, England. The new facility, located about 15km from the company’s former office in Alton and 60km southwest of London, features more than 2,200 square meters of office space as well as ...
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News briefsWolverine Worldwide amends credit facility
The deal, a fourth amendment to its existing credit agreement, will give the Merrell and Saucony parent more near-term financial and operational flexibility for the remainder of its fiscal year as it continues implementing its turnaround plan. Wolverine’s maximum consolidated ratio under the new amendment moves to 4.875x Ebitda from ...
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News briefsApparel brand Kit and Ace bought by Unity Brands
Unity Brands Inc., a brand management and consulting firm, has acquired the Canadian technical lifestyle and apparel brand Kit and Ace Technical Apparel Inc. With the acquisition, Unity Brands aims to “propel Kit and Ace into a future marked by enhanced strategic initiatives, expanded market presence, amplified brand campaigns, elevated ...
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News briefsLPGA sponsors reap up to 400% return on their investment, suggests new report
Brands that sponsor the Ladies Professional Golf Association (LPGA) are gaining up to a 400 percent return on their investment, according to a report from global sports and entertainment intelligence platform SponsorUnited. The report was compiled using SponsorUnited’s proprietary platform, based on data from 1,200 brands, 75 athletes and nearly ...
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News briefsCoats sells European zips business to Aequita
Shortly after the company announced the launch of a new footwear division, Coats Group, the British multinational specializing in the manufacture of yarns and structural components for apparel and footwear, announced the sale of its Opti Zips EMEA business to Aequita for an expected $1 million after the deduction of ...
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News briefsHighsnobiety lays off 10% of its workforce
Highsnobiety has laid off around 10 percent of its workforce – around 24 employees – across several departments, including editorial, commerce, data and marketing, according to Business of Fashion. Breaking the news, BoF cites Highsnobiety Founder and CEO David Fischer and Chief Operating Officer Jürgen Hopfgartner as blaming unfavorable ...
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News briefsAuthentic Brands Group raises $500 million from General Atlantic
Authentic Brands Group has announced a $500 million primary follow-on investment from global growth equity firm General Atlantic, its current investor. The continued partnership with General Atlantic is meant to support Authentic’s worldwide expansion. General Atlantic first partnered with Authentic in October 2017. The latest investment brings General Alantic’s total ...
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News briefsSafilo, Hilfiger extend licensing agreement ahead of schedule until 2030
Italian Safilo Group announced the early renewal of its global licensing agreement with Tommy Hilfiger, owned by PVH Corp., for the design, manufacturing and distribution of Tommy Hilfiger branded sunglasses and optical eyewear collections until Dec. 31, 2030. “We are very pleased to continue our collaboration with Safilo,“ commented Martijn ...
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News briefsAmazon to invest $26 billion in India business
Amazon said it wants to significantly increase its investment in India by 2030. After CEO Andy Jassy met Prime Minister Narendra Modi in the U.S. last week, Jassy said he wants to put $26 billion into the country, adding $6.5 billion to planned new investments. An exact breakdown of the ...
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News briefsLululemon reportedly struggling to find a buyer for Mirror
Lululemon is trying to sell its Mirror fitness product but cannot find a buyer, despite cutting its value by nearly 90 percent, the New York Post has reported. A recent filing showed that Lululemon valued Mirror at just $58 million, although the athletic apparel company paid $500 million for the ...
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News briefsUnder Armour cuts 50 corporate roles to optimize cost structure
Under Armour has cut 50 corporate roles across various units and functions in order to reduce expenses, Footwear News has reported. The impacted employees will receive severance, healthcare benefits and career support, the company said. Under Armour had a workforce of around 15,000 worldwide as of March 31, 2023, half ...
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News briefsFrasers Group invests in electrical retailer AO World
Frasers Group, the owner of Sports Direct, has announced the purchase of a “strategic stake” in AO World, a retail group specializing in electrical goods based in Bolton, England, listed on the London Stock Exchange. The investment follows “productive talks over the last two years about establishing a strategic partnership,” ...
