News Briefs – Page 142
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News briefsCourt ends insolvency proceedings of Galeria Karstadt Kaufhof
By order of a German district court, the insolvency proceedings of the Galeria Karstadt Kaufhof (GKK) department store group will come to an end at the close of May 31. This makes legally binding the insolvency plan for the department store chain, which was approved by the creditors’ meeting of ...
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News briefsFinnish factory to begin spinning its web
Woodspin is set to begin operating what it calls a “zero-emission factory producing sustainable textile fiber from certified wood at scale.” Its objective is to produce an annual yield of a thousand tons of Spinnova textile fiber, and to scale up to a million with the aid of a second ...
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News briefsAdidas may have to pay West $75 million
The Yeezy nightmare seems to be far from over for Adidas. According to Bloomberg, a federal judge in Manhattan denied Adidas’ request for an emergency order to refreeze $75 million that Kanye West would have been entitled to receive for marketing the Yeezy brand. The payment freeze was originally imposed ...
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News briefsNike appoints new Converse CEO
Following last week’s leadership changes, Nike has announced a new president and CEO for Converse. Jared Carver will succeed Scott Uzzell, effective June 1. Carver will report to John Donahoe, President & CEO of Nike, Inc. Uzzell has transitioned to a new role as VP/GM, North America for Nike. Carver ...
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News briefsAthleta Q1 sales fall by 11 percent
Athleta, the Gap-owned retailer, which continued to face consumer pushback to certain products during the period, reported an 11 percent year-over-year decline in Q1 sales to $321 million. However, revenues were 45 percent higher than in Q1/19 before the pandemic commenced. Comparable store sales fell by 13 percent. Athleta ...
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News briefsFitFlop partners with new distributors to support global expansion
Shortly after receiving a new $30 million, 5-year revolving credit facility from independent lender Aurelius Finance Company to support its long-term growth ambitions, London-based footwear company FlipFlop announced that it has secured several new global distribution partners to support its growth: Spain: Albion 1897 Canada: Slavin+Raphael Eastern Europe: Orbico ...
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News briefsUnion Sport & Cycle with new event about innovation
Union Sport & Cycle (USC), the French sporting goods and cycling industry association, has announced the launch of NEXTGEN by USC, a new event for sports industry players focusing on innovation and the social impact of sports. The event’s inaugural edition will take place on June 19-20 at the Maison ...
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News briefsNFL expands its Global Markets Program to new European markets
The National Football League (NFL) has announced the growth of its Global Markets Program, with new markets and new clubs set to participate in 2023. Twenty-one clubs will now participate in the program in 2023 across 14 international markets, up from 19 participating clubs in ten countries in 2022. The ...
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News briefsFIFA and WHO extend collaboration
FIFA and the World Health Organization (WHO) have agreed to extend their collaboration to promote health through football worldwide. FIFA president Gianni Infantino and WHO director-general Tedros Adhanom Ghebreyesus signed a four-year extension to the Memorandum of Understanding, which has been in place since 2019, during the 76th World Health ...
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News briefsISPO Munich to have two pádel courts
According to the Spanish Sport Association (Afydad), this year’s edition of ISPO Munich (Nov. 28–30, 2023) will have two pádel courts at the Padel Village. Brands will be permitted to set up matches there for their sponsored pros, display their wares at the Padel Village stand and ...
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News briefsNew FIS Games in 2028
The International Ski and Snowboard Federation (FIS) has announced the upcoming creation of a new competition of an unprecedented size among snow sports events. The new FIS Games, taking place over 16 days, will represent the full range of snow sports talent from both Olympic and Non-Olympic sports, including para ...
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News briefsSpain hits the milestone of four million federated athletes
The total number of federated athletes in Spain exceeded four million for the first time in 2022. According to figures from the Spanish Ministry of Culture and Sports, federated athletes were 4.1 million last year, representing both a record number and a rise of 4.5 percent compared to the pre-pandemic ...
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News briefsSneaker resale marketplace Laced raises $12 million
UK-based sneaker resale platform Laced has secured $12 million in Series A funding on the same day it unveiled its new visual identity. The e-commerce site features the latest collections from several well-known brands, including Nike, Jordan, Adidas and New Balance. Founded in London in 2018, Laced facilitates the sale ...
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News briefsNorda launches second shoe model
Source: Norda norda 002 in Alpine White Norda, a running shoe brand from Québec, Canada, founded in 2021, has launched a new trail running shoe, the 002. In developing the 002, the brand focused on using the same materials and evolving elements of its very first model, ...
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News briefsPPL Cup to air on CBS
The Pro Padel League (PPL) will have its inaugural championship broadcast on television. The league has come to an agreement with the U.S. pay TV network CBS Sports, which will film the final match and air it about two weeks later, on June 22. The PPL was itself inaugurated last ...
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News briefsDecathlon Sports Marketplace cooperates with Puma
At the end of 2020, Decathlon opened its website to other brands. The new online business model, “Decathlon Sports Marketplace,” has since offered brands and partners the opportunity to add their products online to Decathlon’s existing retail offering. In doing so, Decathlon aims not only to offer its partners a ...
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News briefsLululemon’s “Further” looks to meet needs of female endurance athletes
Lululemon’s new “Further” initiative, announced this week, is set to include product launches and events celebrating human possibility and how far women can go when they’re supported with resources and product innovations. To mark the launch, Lululemon released its first-ever road-to-trail running shoe, Blissfeel Trail, a continuation of the brand’s ...
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News briefsAuthentic Brands Group forms Authentic Studios
Authentic Brands Group (Authentic), the parent company of more than 40 global brands including Sports Illustrated, Reebok, Nautica, Eddie Bauer, Spyder, Volcom, Tretorn, Prince and Airwalk to name a few, and currently in the process of acquiring Boardriders, has announced the formation of “Authentic Studios;” a full-service production studio designed ...
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News briefsTopsports sticks to gameplay despite volatile years
The Chinese sportswear retailer offering a portfolio of athletic brands, dominated by Nike and Adidas, suffered a 25 percent drop in net income attributable to shareholders to 1,836.6-million-yuan renminbi (€258.8m) for the 12 months ended Feb. 28. Gross margin slipped by 170 basis points to 41.7 percent from 43.3 percent ...
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News briefsBurton launches capsule with Design Your Pride contest winner
Source: Burton Burton has announced the Burton x Happy Impulse Capsule collection designed by Roberta Hall, aka “Happy Impulse;” winner of the brand’s 2022 Design Your Pride contest. Burton’s initiative called for LGBTQ+ artists from around the world to submit a body of work (in any medium) ...
