News Briefs – Page 6
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News briefsIllegal profits from forced labor rose 37% since 2014, ILO report finds
Forced labor in the private economy generates US$236 billion in illegal profits per year, according to a new study from the International Labour Organization (ILO). The total amount of illegal profits from forced labor has risen by 37 percent since 2014, fueled by a growth in the number of people ...
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News briefsStrong B2B growth, product mix fuel growth for Technogym
Bolstered by double-digit sales increases across all segments of its B2B (commercial) business, Technogym reported record FY23 revenues of €808 million, up 12 percent year-over-year, and record adjusted Ebitda to €152 million for the 12 months ended Dec. 31. Annual operating income grew more than 17 percent to €97.4 million ...
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News briefsLenzing announces concept to support sustainable glacier protection
The Lenzing Group has announced an innovative concept that is meant to contribute to the sustainable protection of our glaciers while inspiring a circular economy in the nonwovens and textile value chain. Geotextiles are used to protect ice and snow from melting due to global warming. However, the nonwovens ...
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News briefsPuma unveils Jamaican Olympic kits
Puma has unveiled the Jamaican Olympic Association kits at the ISSA Boys & Girls Championships in Kingston, Jamaica. “In their truest form, these kits are an expression of speed. Speed has always been Puma’s vantage point. It is what enables us to see the game differently, challenge convention, and create ...
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News briefsAllbirds announces new international distribution deals
Global lifestyle brand Allbirds has announced definitive agreements with distributors in the Gulf Countries and Southeast Asia. Alyasra Fashion will be the exclusive Allbirds distributor in the Gulf countries while The Primer Group of Companies will distribute Allbirds’s products across Malaysia, Singapore, Indonesia and the Philippines. Alyasra Fashion is a ...
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News briefsA new women’s pro golf tour in the UK
Sarah and Adam Walker are launching the Ladies Pro Series, a new tour in the UK that aims to increase the professional playing opportunities for female golfers. Ladies Pro Series is open to female professional golfers paired with an amateur (male or female) with a maximum playing handicap of 28 ...
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News briefsHe will lead Nike’s design team
Nike has announced the appointment of Tim Hamilton, former creative Head at The North Face, to lead its design team. Hamilton shared his excitement about the new role on LinkedIn: “After five-plus years of leading global creative at The North Face, I am thrilled to announce my next chapter at ...
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News briefsJP Morgan forms new sports-focused investment division
Global financial firm JP Morgan Chase has set up a new “sports investment banking coverage group” to advise clients in an increasingly lucrative industry, according to an internal memo seen by Reuters. The new team will be co-led by Eric Menell, Managing Director, co-Head of North American Media Investment Banking ...
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News briefsStella Intl. increases FY operating profit despite lower sales
Hong Kong-based Stella Intl. reported a 15 percent improvement in year-over-year operating profit to $152.0 million after changes in fair value of financial instruments. Annual Ebit rose by 21 percent to $161.3 million from $133.2 million and FY profit increased by 20 percent to $140.3 million. Stella’s annual revenues contracted ...
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News briefsWahoo appoints former Mercedes-Benz executive as CEO
Atlanta, Georgia-based exercise equipment manufacturer Wahoo Fitness has announced the appointment of Gareth Joyce as the company’s new Chief Executive Officer and a member of the Board of Directors. Joyce joins Wahoo from Proterra, Inc., where he also served as CEO. Prior to Proterra, he was responsible for one ...
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News briefsXXL completes €43 million share issue amid growth expectations
Norwegian sports retailer XXL has completed a targeted new share issue of 500 million Norwegian kronor (€43 million), according to a press release. The subscription price was set at 0.70 Norwegian kronor (€0.06), which aligns with the latest closing price. Among the buyers are venture capital firms Altor, Ferd, and ...
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News briefsOn Holding set to make Hong Kong debut amidst Asia-Pacific surge
Swiss sportswear brand On Holding is gearing up to establish its inaugural store in Hong Kong, marking its debut in the vibrant shopping scene of Greater China. The company, backed by tennis legend Roger Federer, has secured a prime spot spanning 3,000 square feet at H Queen’s, a prominent structure ...
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News briefsSun Mountain Sports strengthens sales force
Montana-based Sun Mountain Sports has expanded its sales force with the addition of two seasoned territory sales representatives, Chivonne Wilson for North Florida and Tom Funderburk for Oklahoma and Arkansas. They join a team of over 40 sales reps covering the US and Canada. “We are thrilled to welcome these ...
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News briefs‘Unaware of reported sale discussions’, says Topgolf Callaway
Topgolf Callaway Brands Corp. is reportedly contemplating the sale of its Callaway Golf business, as reported on Wednesday, March 21. The speculated valuation for the brand stands at an impressive $3 billion. While the potential sale focuses solely on the Callaway Golf segment, it suggests that Topgolf would remain unaffected ...
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News briefsAn “excellent” FY 2023 at Inditex
Inditex’s full-year 2023 sales were up 10.4 percent to €35.9 billion, or 14.1 percent in constant currency. E-commerce accounted for €9.1 billion, up 16 percent. Sales were particularly strong in Europe outside of Spain, rising 48.7 percent. Gross profit rose 11.9 percent to €20.8 billion, with gross margin expanding by ...
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News briefsJD set to open larger store at Broughton Shopping Park
JD is set to enhance its presence in Chester with the unveiling of a bigger and upgraded store at the Broughton Shopping Park this weekend. The new location promises an expanded selection of products from brands like Nike, Adidas, The North Face, and Under Armour. James Air, Director and Head ...
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News briefsLuanvi posts double-digit sales growth
Spanish sportswear manufacturer Luanvi saw its revenues increase by between 12 percent and 15 percent in 2023 compared with 2022, with sales reaching nearly €17 million, CMD Sport has reported. The company expects to post once again double-digit sales growth in 2024. Growth was supported by a new agreement ...
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News briefsEuropean sport sponsorship reached new high in 2023
According to research from the European Sponsorship Association (ESA) and Nielsen Sports, the total value of Europe’s sponsorship market increased by 6.2 percent over the past year from €29.05 billion to €30.86 billion. Sponsorship across Europe returned to pre-pandemic levels in 2023. The total volume exceeded the previous record high ...
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News briefsDecathlon plans further expansion in India
French sporting goods retailer Decathlon is planning to accelerate investments in India to ramp up production and expand its retail presence. Decathlon entered the Indian market in 2009 and now operates 129 stores in the country. Decathlon CEO, Barbara Martin, called India one of the company’s “most important” global markets, ...
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News briefsMacron announces multiyear deal with CONCACAF
Italian sportswear and teamwear brand Macron has announced a new agreement with CONCACAF, the football governing body in North America, Central America and the Caribbean. All match officials in CONCACAF club and international competitions will be wearing Macron sportswear for the next six seasons. CONCACAF, one of FIFA’s six ...
