All News briefs articles – Page 313
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News briefs
Alibaba settles with Chinese anti-trust authorities
The Alibaba Group has agreed to make it easier for merchants to do business with it, without preventing them from using other platforms, as part of a series of ”comprehensive rectifications” demanded by Chinese anti-trust regulators, which charged it of abusing its dominant market position. It will nevertheless have to ...
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News briefs
Asos issues a £500 million convertible bond
After its publication of excellent results for the first half ended Feb. 28, Asos announted an offer to sell £500 million (€577.5m-$686.6m) in senior unsecured guaranteed convertible bonds due in 2026. The bonds are being offered by the company’s wholly-owned subsidiary Cornwall. The proceeds will be used by the U.K.-based ...
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News briefs
Sports Direct’s parent company warns Covid-19 could cost more than £200 million
Frasers Group, the parent company of Sports Direct, has warned that it could take a hit of more than £200 million (€230m-$275m) due to Covid-related restrictions. This would be double the previous estimate it had made in February, when the company said it expected that the pandemic crisis would determine ...
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News briefs
Patent office finds Timberland’s iconic boot design too generic
The U.S. Patent Office’s Trademark Trial and Appeal Board denied a bid by VF Corp. to register the design of Timberland’s iconic Yellow Boot, concluding that it lacks sufficient acquired distinctiveness. The board noted that there was no evidence that competitors were trying to intentionally copy the boot’s trade dress, ...
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News briefs
Icon sues Peloton once more
Icon Health & Fitness has filed its fourth suit against Peloton Interactive in the U.S. federal court in Delaware, where two other suits filed last year are still pending. This time, Icon is attacking the Auto Follow feature of Peloton’s new Bike+ model, which automatically adjusts its resistance to match ...
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News briefs
Nike obtains a recall of MSCHF’s Jesus Shoes and “Satan Shoes”
Nike said that the MSCHF Product Studio has agreed to voluntarily recall the “Satan Shoes” it has developed with a rapper as well as the Jesus Shoes it had launched in 2019 as part of a legal settlement. Both shoe models were unauthorized alterations of Nike’s Air Max 97. According ...
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News briefs
Aquasphere debuts an online guide to goggles
Aquasphere, the Italian brand of swimming and triathlon equipment, has released an interactive guide to lenses for swimmers. Available in five languages on Aquasphere’s website, A Lens For Every Condition pairs its 12 lens options with kinds of weather: sunshine brightness, cloudiness, precipitation, indoor conditions and so forth. The brand’s ...
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News briefs
S&P downgrades Callaway for its merger with Topgolf
The pro forma debt/Ebitda ratio of about 8 times given for the company formed by the merger of Callaway Golf with Topgolf has led Standard & Poor’s to downgrade the credit rating of Callaway to B from B+, and the agency indicated that it could lower it further. As Callaway ...
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News briefs
Hyperice signs endorsement deals with U.S. Soccer, new golfers
U.S. Soccer has made Hyperice its “official recovery technology partner” for the next several years. Hyperice has been working with U.S. Soccer since 2013, but this is the federation’s first sponsorship deal with the producer of a therapeutic device: in this case, for vibration, percussion and thermal treatments. Negotiated through ...
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News briefs
Puma releases a Proadapt golf shoe with its new Adapt Foam
Puma Golf has unveiled the Ignite Proadapt Δ (Delta), a Proadapt golf shoe that features the brand’s new Adapt Foam. The shoe has been designed in collaboration with Rickie Fowler, the American professional golfer who plays on the PGA Tour. Puma’s Adapt Foam is a new proprietary foam that utilizes ...
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News briefs
Adidas releases a limited-edition Stan Smith Golf shoe
For the first time in the history of the brand, Adidas is bringing its iconic Stan Smith silhouette to golfers. The limited-edition Stan Smith Golf features a Primegreen upper made with high-performance recycled materials that use a minimum of 50 percent recycled content. The shoe’s distinctive green colorway is meant ...
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News briefs
New online platform helps obtain sports sponsorship funds in the U.K.
GRM Marketing, a marketing and sponsorship agency based in Glasgow and a member of the European Sponsorship Association, has launched Sponsor Lead, described as Scotland’s first online platform for sport sponsorships. Sponsor Lead is a B2B website designed to help establish connections between individual athletes, teams and businesses. The platform, ...
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News briefs
Reebok releases the animal-free Nano X1 Vegan
Reebok is introducing the Nano X1 Vegan, a new sneaker that builds off from the Nano X1 launched earlier this year. The Nano X1 Vegan is an animal-free, United States Department of Agriculture (USDA) Certified Biobased Product featuring a minimum of 40 percent bio-based materials. The shoe is made up ...
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News briefsPrimaLoft introduces a fully recycled down alternative
PrimaLoft has launched a new version of its best-selling down alternative, PrimaLoft® Insulation ThermoPlume®. The blowable synthetic insulation is now made from 100 percent post-consumer recycled materials. The company says this type of insulation technology has earned a strong reputation for its ingredient brand in outdoor apparel and fashion markets ...
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News briefs
U.S. boycott of Beijing Olympics still up in the air
It remains unclear whether the U.S. will boycott the 2022 Winter Olympics in Beijing, either alone or in a coalition with other countries. Last month the U.S. Secretary of State, Antony Blinken, outlined the reasons, saying: “China uses coercion and aggression to systematically erode autonomy in Hong Kong, undercut democracy ...
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News briefs
Former Nike manager pleads guilty in $1.5m fraud case
A former marketing executive of Nike in charge of temporary retail venues until 2018, Errol Andam, admitted at a U.S. Attorney General office that he had made false statements and committed wire fraud and money laundering through various schemes that defrauded the company of $1.49 million, according to The Oregonian. ...
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News briefs
Former Nike executives help found minority-owned sports marketing agency
Three former Nike executives – David Creech, president of brand creative for global men’s; Nicole Graham, vice president of global brand marketing; and Josh Moore, vice president and global head of design for digital, stores and content – have joined the sports agent Rich Paul to found Adopt, a minority-owned ...
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News briefs
Saucony appoints Fábio Tambosi as chief marketing officer
Saucony has announced the appointment of Fábio Tambosi as its new chief marketing officer, effective immediately. Tambosi has more than 18 years of experience in global brand-building, most recently serving as Adidas’ global head of brand, planning and activation for its Sports Performance categories. Prior to Adidas, he served as ...
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News briefs
New Balance hires Teddy Santis as creative director of its Made in USA collection
New Balance has announced the appointment of Teddy Santis, the founder of Aimé Leon Dore, as creative director for its Made in USA line of sneakers. The first Santis-designed products from his new multi-year deal with New Balance are expected to drop in 2022. Aimé Leon Dore is a fashion ...
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News briefsVF’s new fulfillment center for the U.K. begins operations
Working through a local subsidiary, VF Northern Europe, VF Corporation has begun operations at its new fulfillment center in Bardon, Leicestershire, which will employ about 250 people at peak times. The new 55,800-square-meter center will have “state-of-the-art automation capabilities putting it at the forefront of the footwear and apparel industry,” ...
