All News briefs articles – Page 639
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News briefs
Nike has a new $2.0 billion revolving credit facility with...
Nike has a new $2.0 billion revolving credit facility with Bank of America, Citibank, Deutsche Bank and HSBC. Replacing a $1.0 billion line of credit, it matures in July 2020, with option for a two-year extension. At the end of the last quarter, Nike had cash and short-term investments worth ...
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News briefs
Manchester United has reported a 16 percent drop in retail,...
Manchester United has reported a 16 percent drop in retail, merchandising, apparel and product licensing revenues to £31.6 million (€43.3m-$49.5m) for the financial year ended June 30, including an 11 percent decline in the fourth quarter. ManU blamed the drops on reduced guaranteed revenues from Nike due to the team's ...
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News briefs
The 2024 Summer Olympic Games will take place in Budapest...
The 2024 Summer Olympic Games will take place in Budapest or Hamburg or Los Angeles or Paris or Rome. These five cities entered the final bids before the deadline on Tuesday night. Toronto withdrew its candidacy. As previously reported, Beijing beat Almaty by a narrow margin in the International Olympic ...
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News briefs
On Aug. 31, Hervis Sport opened its third store under...
On Aug. 31, Hervis Sport opened its third store under the flag of Hervis Express in Vienna's Westbahnhof (West Station). For the Austrian multi-channel retailer, this format is relatively new. It was premiered in Innsbruck last year followed by similar shop in Prague. The idea is to present the full ...
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News briefs
According to a new report by the Norwegian Health Directorate,...
According to a new report by the Norwegian Health Directorate, the number of people doing sufficient physical activity in Norway has risen by 4 percent over the past five years. In terms of inhabitants, the figures mean that over 200,000 people are more physically active now than five years ago. ...
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News briefs
Hero Cycles, the major Indian bicycle producer, has acquired control...
Hero Cycles, the major Indian bicycle producer, has acquired control of Avocet Sports, a major distributor of cycling products based in Manchester, U.K. In its attempt to enter the European market, Hero started two years talks for the takeover of Mifa, the financially stricken German bike producer, but they failed. ...
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News briefs
Fusalp, the French skiwear company recently acquired by members of...
Fusalp, the French skiwear company recently acquired by members of the Lacoste family, has resurrected its dormant brand of knitted sweaters, Montant, which was worn by members of the French ski team between 1952 and 1970. Made in France with merino wool, the four styles of Montant sweaters will be ...
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News briefs
Wolverine Worldwide remains interested in acquisitions, but while there are...
Wolverine Worldwide remains interested in acquisitions, but while there are plenty of actionable assets in the market, the valuations are a bit high. Wolverine would prefer a good brand with heritage with at least $75 million in revenues - ideally between $200 million and $600 million. An acquisition outside the ...
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News briefs
Adidas hired Egon Zehnder last February to head-hunt a new...
Adidas hired Egon Zehnder last February to head-hunt a new chief executive to take over the place of Herbert Hainer after his present contract expires in March 2017, according to Bloomberg. The 61-year-old Hainer has been running the group since 2001. Bloomberg quoted a couple of institutional shareholders of Adidas ...
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News briefs
Adidas filed a suit against Skechers USA in Portland's district...
Adidas filed a suit against Skechers USA in Portland's district court on Sept. 14, charging that one of its shoe styles is a knock-offs of its Stan Smith model, and that others use its Supernova trademark and its Three-Stripe mark. The two companies have already squared off and reached settlements ...
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News briefs
Thule Group has signed an agreement to sell its snow...
Thule Group has signed an agreement to sell its snow chain business to an Austrian-based company, Schneeketten. The divestment will allow Thule to focus more on its core outdoor and bags segment. Its snow chain division posted sales of 136 million Swedish kronor (€14.6m-$16.5m) in 2014. Its staff of 145 ...
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News briefs
Alibaba Group Holding has established a new Alibaba Sports Group...
Alibaba Group Holding has established a new Alibaba Sports Group together with Sina Corporation and Yunfeng Capital. The idea is to leverage Alibaba's large e-commerce footprint in China with Sina's media resources to create an integrated, internet-based sports platform for the benefit of the sports industry, sports teams, sports fans ...
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News briefs
Suunto, a subsidiary of Amer Sports, has opened a new...
Suunto, a subsidiary of Amer Sports, has opened a new Mobile Competence Center in Tampere, Finland. The facility, which was inaugurated on Aug. 10, is focused on the development of digital services and native applications for both iOS and Android. Suunto said it decided to start the center because of ...
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News briefs
Precor, part of Amer Sports, and Mad Dogg Athletics, the...
Precor, part of Amer Sports, and Mad Dogg Athletics, the creators of the spinning indoor cycling program and Spinner line of bikes, have announced an exclusive worldwide distribution agreement under which Precor will assume all commercial Spinner bike production for a brand-new range of Spinner indoor cycling equipment. The financial terms ...
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News briefs
The turnover of Li & Fung declined by one percent...
The turnover of Li & Fung declined by one percent to $8.63 billion in the first half, reflecting macroeconomic conditions. It remained flat in the U.S. and fell by 13 percent in Europe. It grew by 14 percent in Asia but dropped by 9 percent in the rest of the ...
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News briefs
Dorel Sports has appointed Russell Merry to the role of...
Dorel Sports has appointed Russell Merry to the role of senior vice president and general manager of North America and the U.K. for Cycling Sports Group (CSG), which sells Cannondale and other bike brands to independent bicycle dealers (IBDs). He will report directly to Peter Woods, president and chief executive ...
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News briefs
The government of Myanmar has approved the first minimum wage...
The government of Myanmar has approved the first minimum wage for all the workers in the country, which is becoming a new sourcing hub for clothing and footwear, except for businesses that employ fewer than 15 people. After bitter negotiations, the minimum wage has been set at 3,600 kyat ($2.86) ...
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News briefs
Under Armour has set up a sport corner at the...
Under Armour has set up a sport corner at the Citadium Caumartin shop in Paris, the first for the American brand inside a fashion store. The 35-square-meter space is located on the third floor of the store. It sells both fitness apparel and footwear.
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Assos of Switzerland, the well-known maker of bikewear from Lugano,...
Assos of Switzerland, the well-known maker of bikewear from Lugano, has changed ownership. The founding Maier family has sold its shares to a pool of investors led by Phil Duff, the former chief executive of Black Diamond, the U.S. brand of outdoor and snow sports equipment. Duff will reportedly take ...
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News briefs
Peak Sports, the Chinese athletic footwear brand, has signed Dwight...
Peak Sports, the Chinese athletic footwear brand, has signed Dwight Howard, a basketball player with the Houston Rockets, to an endorsement deal reportedly worth a minimum of $15.7 million. The value could grow to as much as $31.5 million through performance bonuses and other options. The player's previous contract with ...
