News briefs - Corporate and M&A – Page 28
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News briefsSunGod’s latest crowdfunding campaign hit nearly £3 million
SunGod’s new crowdfunding campaign on Crowdcube, dubbed “The 2022 Vision Raise,” rapidly hit nearly £3 million (€3.5 million). The campaign by the British performance eyewear brand, which is now closed, had a fundraising target of £1 million (€1.2 million) and got 200 percent overfunded in less than 80 minutes. The ...
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News briefsiFit lays off another 300 of its workforce
iFit Health & Fitness, the U.S.-based connected fitness company, has reduced its Utah-based workforce by about 300 employees, or 20 percent of the remaining 1,600 employees who had survived earlier rounds of layoffs, the Salt Lake Tribune reported. At the height of demand following the pandemic, the company had employed ...
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News briefsBoardriders lays off 170 employees globally
As reported by the Orange County Business Journal (OCBJ) and Shop-Eat-Surf, Boardriders has laid off many employees in various regions. Both media report a loss of about 170 jobs (110 positions in the Americas and 60 in the Asia-Pacific regions). In a statement quoted by SES, the company reorganizes its ...
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News briefsSunGod launches new crowdfunding campaign
SunGod has launched a new crowdfunding campaign through Crowdcube. The campaign, dubbed “The 2022 Vision Raise,” went live on Nov. 15. The British performance eyewear brand has a fundraising target of £1 million (€1.1 million), specifically aimed at the next stage of its growth. Thanks to the new funds, the ...
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News briefsFrance’s government focuses on sports employment
France’s ministers of labor, sports, and education and vocational training – Olivier Dussopt, Amélie Oudéa-Castéra and Carole Grandjean – have signed a roadmap document to accelerate professional integration through sport. Sport currently represents 448,000 jobs in France, namely 2.2 percent of the country’s overall salaried workforce. It is also a ...
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News briefsEcco opens design studio in Shanghai
The newly opened Ecco Design Studio in Shanghai is said to be characterized by collaboration and creativity with bright, open and interconnected spaces and is Ecco’s second studio after opening a studio in Brooklyn, New York, in 2021. Both studios not only focus on shoe and bag design but also ...
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News briefsMizuno’s new innovation center begins operations in November
Mizuno said its new research and development facility, dubbed Mizuno Engine, is opening this month. The company announced plans to build the innovation center three years ago. The new 6,500-square-meter facility, located on the premises of the company’s headquarters in Osaka City, Japan, is meant to amplify Mizuno’s prototyping, testing ...
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News briefsPeloton execs go from riches to rugs
Peloton’s co-founders, John Foley, Hisao Kushi and Yony Feng, and five more of its former executives have secured $25 million in Series A funding and founded a new direct-to-consumer (DTC) rug company. The venture capital firms on the deal were Addition and True Ventures. Addition’s founder, Lee Fixel, backed Peloton’s ...
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News briefsLululemon appoints China-based Apple executive to its board of directors
Lululemon Athletica Inc. has appointed Isabel Ge Mahe to its board of directors, effective immediately. Ge Mahe is vice president and general manager of Greater China at Apple, where she provides leadership and coordination for Apple’s entire team in China. In this role, she has played a key role in ...
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News briefsAsics to move parts of its production to other Asian countries
Nikkei Asia has reported that Asics is expanding its production to Indonesia and Cambodia to take advantage of the growing popularity of running in Southeast Asia and diversify its sources of supply. Asics makes about half of its running shoes in Vietnam, which benefits from a high-quality labor force and ...
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News briefsAllbirds updates sustainability principles and objectives framework
Allbirds has provided an update to its main CSR plans on its website, giving an overview on achievements, changes and objectives settled in its sustainability report that was published in October 2022. Important notes are the new RSL list that will launch to Allbird’s suppliers in Q4, 2022, including guiding ...
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News briefsLewis Hamilton joins the celebrity list of investors in TMRW Sports
Formula One driver Lewis Hamilton is joining TMRW Sports as an investor, the company has announced. TMRW Sports, a technology-focused venture that aims to bring innovative approaches to sports, media, and entertainment, was created in August by golf stars Tiger Woods and Rory McIlroy with NBC Sports veteran Mike McCarley, ...
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News briefsPatrik Frisk acquires Swedish ski resort
Patrik Frisk, former CEO of Under Armour, has purchased a ski resort in Sweden. Branäs Group announced the sale of Ulricehamn Ski Center in Västergötland to Frisk and his family last Thursday. Frisk told Freeride magazine that he wants to give more young people, families and clubs in the region ...
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News briefsOeko-Tex undergoes rebranding, publishes branding guidelines
Designed by the German design and branding agency Schwitzke ID, Oeko-Tex has reworked its logo and brand ID. The biggest change is the new brand logo based on a drop-shaped graphic associated with a leaf, drop or textile bow. The branding guidelines that are to be followed by Oeko-Tex-certified companies ...
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News briefsWeSports acquires Kraftmark
WeSports has completed its acquisition of Nordic fitness product brand, Kraftmark. Kraftmark will now contribute to the WeSports fitness segment, offering products to commercial gyms, company gyms, and housing association gyms, as well as strengthening WeSports’ consumer product offering. For WeSports, a Stockholm-based group of individual sports, outdoor and mobility ...
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News briefsFrasers sets deadline for investors to accept offer for MySale after acquiring 50% of shares
Following MySale’s recommendation to its shareholders to accept the takeover offer last week, Frasers Group has now announced that it acquired 524,907,830 MySale shares at the close of business on Oct. 17 – representing approximately 50.59 percent – and that the offer for Australian retailer is now unconditional after crossing ...
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News briefsSunglasses brand Pit Viper on track for success thanks to bold marketing
According to a recent article in the Wall Street Journal, Pit Viper, a Salt Lake City-based sports sunglasses brand, plans to add seven new models to its product line, which has so far been limited to 11 models. The company is also reportedly looking to expand its business in the ...
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News briefsBlibli’s parent aims to raise €540m in IPO
Global Digital Niaga, the parent company of the Indonesian e-commerce company Blibli, aims to raise as much as €540 million in its initial public offering next month, according to the company’s prospectus. The company plans to sell up to 17.77 billion shares, or 15 percent of its total capital, at ...
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News briefsFrasers Group acquires Sneakerboy
Frasers Group has acquired Sneakerboy, an Australian luxury sneaker and streetwear retailer. The financial details of the transaction have not been disclosed. Sneakerboy, founded by Chris Kyvetos in 2013, fell into administration under growing debts in July. The retailer has four stores in Australia, three in Melbourne and one in ...
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News briefsNew Balance will begin production in Argentina in 2023
New Balance has announced that it will begin to produce shoes in the Puerto Tirol industrial park in the province of Chaco, Argentina, from February 2023. New Balance’s manufacturing partner will be Chaco-based Punto Medio. The project is expected to create 250 new jobs.
