Retail insights from the sporting goods industry – Page 33
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News briefsActive Brands Group hires e-commerce manager
Source: Active Brands Group Rohan Callander Stockholm-based Active Brands Group (ABG), which owns a broad portfolio of brands in the sports and pharmaceutical segments, said it has hired New Zealander/Swede Rohan Callander to expand the DTC side of its brands to their full potential. Previously, the company ...
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News briefsBanner FY 2022 at Sprinter
Sprinter’s sales for full-year 2022 exceeded €519 million, for a year-on-year increase of 30 percent, while net profit almost doubled, rising from €18.3 to €34.1 million – all according to Diffusion Sport. The chain also upped its store count in Spain by about 30 to a total of 205. It ...
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News briefsSport Conrad switches to Sport 2000
German sports retailer Sport Conrad, based in Garmisch-Partenkirchen, will switch from Intersport to Sport 2000 on Oct. 1, 2024. The retailer has so far been a so-called cooperation partner of Intersport and therefore does not appear on the market under this brand. “We chose Sport 2000 because the association, with ...
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News briefsGympass raises $85 million in equity funding
Corporate wellness platform Gympass has announced that it has raised $85 million in Series F funding, led by EQT Growth, with participation from Neuberger Berman. The funding comes in at what the company has described as “a record year” on the heels of several milestones. Gympass surpassed 15,000 corporate customers ...
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News briefsIn-Sport Fashions signs distribution agreement with Allbirds for the Canadian market
Québec-based In-Sport Fashions, a Canadian distributor of specialized lifestyle, sports and outdoor products, entered an exclusive partnership with the sustainable footwear brand Allbirds. Effective Sept. 15, 2023, In-Sport Fashions assumes distribution of Allbirds products across all Canadian distribution channels: retail, allbirds.ca and wholesale partner openings. Under this new distribution agreement, ...
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News briefsU.K.-based sneaker reseller Laced expands to Europe
Laced is now available to buyers and sellers in Europe. The London-based online platform has also launched dedicated German and French language websites. According to a report by Footwear News, Laced will grow its current staff of 80 employees by at least 25 percent, with new jobs on the continent ...
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ArticleAtobi and Asics announce strategic partnership
Atobi, provider of the Real-Time Retail Execution Platform, which enables brands and retailers to optimize collaboration and deliver exceptional brand experiences, has announced a strategic partnership with Asics. This development follows Atobi’s recent VC funding of €3.8 million, which will support further expansion beyond the company’s existing clients, such as ...
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News briefsJudge in Nike vs. StockX orders defendant to disclose additional information about counterfeit sellers
U.S. Magistrate Judge Sarah Netburn has ordered the resale platform StockX to reveal additional information about users who sold counterfeit sneakers through the platform. Nike specifically asked how many sales these users completed, as this element could help assess the level of scrutiny StockX applied in facilitating their sales. StockX ...
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News briefsAthleta’s new President & CEO takes helm as Q2 sales dip
The Gap-owned specialty retailer suffered a 1 percent drop in Q2 sales to $341 million for the period ended July 29, a week before Chris Blakeslee became Athleta’s new president and CEO. Comparable store sales declined 7 percent in the period, an improved trend from Q1, as sales of core ...
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ArticleFoot Locker committed to Lace Up strategy despite current challenges
Faced with persistent store traffic and conversion challenges, a promotional landscape, and an 11 percent year-over-year increase in inventories, Foot Locker has lowered its financial outlook for the remainder of the FY and paused its dividend for shareholders as it works to get better positioned for the upcoming holiday season ...
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News briefsUYN opens its first U.K. store amidst international expansion plan
Italian brand UYN (Unleash Your Nature) has opened a store in Cambridge, its first in the UK. SGI Europe reported about this planned opening earlier this month while the brand was inaugurating another store in Peschiera, on Italy’s Lake Garda. The Cambridge store is located on Market Hill, in the ...
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ArticleSuper Retail Group annual sales increase by 7 percent
Australian Super Retail Group, which owns Rebel Sport, BCF and Macpac, reported a 12 percent gain in annual profit before tax to A$391 million (€251.5m) for the 12 months ended July 1 as yearly revenues rose 7 percent to A$3.8 billion (€2.4b). The consolidated results also include those from the ...
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ArticleKYX is back – as a platform for secondhand sneakers
Rising from the ashes of the sneaker subscription platform KYX World, which disappeared at the end of 2022, KYX Sneakers has reinvented itself as a platform for the resale of secondhand sneakers. The platform is launching with over 2,000 used sneakers priced between $50 and $2,000 a pair. KYX Sneakers ...
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News briefsFootway’s creditors consent to continuation of reorganization
The creditors of the Swedish Footway Group AB, operator of specialized online stores, which has been in reorganization since July 25, have given the go-ahead for the continuation of the ongoing reorganization until Oct. 25 at the Solna District Court. Despite historic profitability and strong growth, the publicly traded company ...
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News briefsNike Rise concept store opens in India
Nike has opened its first digital flagship concept store, Nike Rise, at Phoenix Marketcity in Chennai on the Bay of Bengal in eastern India. The store was opened by RJ Corp, India’s leading conglomerate operating sports and F&B franchises, on August 6, 2023. Spread over 470 square meters, Nike Phoenix ...
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News briefsNew share issue to help XXL
According to ehandel.se and as mentioned by SGI Europe earlier, Norwegian sporting goods chain XXL is looking to fill its coffers with 500 million Norwegian kroner (€43.2m) through a fully guaranteed new share issue after losses of nearly NOK 600 million (€51.9m) this year. Accordingly, the company is proposing a ...
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ArticleFarfetch reports Q2 loss, small revenue drop
Farfetch Limited reported an adjusted Ebitda loss of $30.6 million and a 1.3 percent drop in revenues to $572.1 million for Q2 ended June 30. The net loss at the internet platform for luxury goods was $281.3 million against a profit of $67.7 million. Gross merchandise value (GMV) inched 1.2 ...
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ArticleThree running brands take top spots in StockX sneaker trades so far this year
Resale platform StockX has released its latest trend report, Big Facts: Brands Making Moves, identifying the fastest-growing brands across its sneakers, shoes, apparel, accessories, and collectibles categories. A total of 25 brands, including several big sporting goods names, made the rankings, which compare global trade data from January through July ...
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News briefsSnow sports apparel market to grow 6% by 2027
The snow sports apparel market is estimated to increase by US$1.65 billion from 2022 to 2027. The market will be progressing at a compound annual growth rate (CAGR) of 6.12 percent, according to a new report by tech research and advisory firm Technavio. Growth is being driven by the rising ...
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News briefsAlibaba partners with CommerceHub to support European expansion
Miravia, a Spanish marketplace that is part of Chinese group Alibaba, is partnering with CommerceHub, a commerce network with headquarters in Latham, New York. The partnership involves integrating CommerceHub’s e-commerce platform with Miravia’s operations. CommerceHub connects more than 40,000 retailers and brands globally, transacts around $50 billion in gross merchandise ...
