Retail insights from the sporting goods industry – Page 98
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ArticleMore action in Sweden’s sports retail landscape
Intersport Sverige, Stadium, Sportamore and Gekås had all something new to announce in the last few days. To start with the Swedish Intersport organization indicated that it should be able to come out of its insolvency status in mid-October or later in the month, limiting the number of store closures ...
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News briefs
Special status for Sport 2000 in Austria
Sport 2000 Österreich has been certified for the second time by PHP Sport Management as “Sport Leading Company” in its domestic market. The Austrian buying group, which reached a retail turnover of €579 million in 2019, claims a market share of 29 percent. It federates 240 retailers with 403 ...
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News briefs
Fanatics acquires Top of the World from Vetta
Fanatics, the Florida-based provider of sports merchandise, is acquiring some of the assets of Vetta Brands, which is currently under liquidation. Chief among these assets is Top of the World, which, until the Covid-19 pandemic wiped out its business, had been manufacturing hats for hundreds of college sports brands at ...
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ArticleNew funding round for Keller Sports
Although its profits have been growing more than its sales, the Keller Group says ithas secured more than €10 million in new financing from its shareholders to further strengthen its position as “the leading digital premium sports community for sports and sports lifestyle products and services in Europe.” The management ...
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ArticleAmazon: The Janus-faced company
The current Covid19 crisis has accelerated Amazon’s consumer goods business exponentially. The Silicon Valley giant doubled its profits in the second quarter of this year and increased its turnover to nearly $89 billion. The share value has also nearly doubled since the middle of March. On Sept. 1, Amazon announced ...
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News briefs
Two French retailers are merging
Frasteya and Lafreto have announced their merger, with immediate effect. The new joint company resulting from the merger of these two French physical players specializing in outdoor and boardsports is called 113Outdoor. As reported by sport-guide.com, Frasteya will be the majority shareholder while Lafreto will hold a minority stake in ...
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ArticleIntersport International elects new chairman, sets new goals
Held online in a virtual format, the annual general assembly of Intersport International Corp. (IIC) elected today a Canadian industry veteran, Rick White, as its new chairman. The 61-year-old manager, who is known for his operational efficiency, takes the place of the 65-year-old Jussi Mikkola from Finland, who retired as ...
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News briefs
Adidas’ former Yeezy boss will work for Shopify
The mystery about the recent departure of the former head of the successful Yeezy business unit at Adidas is solved. Shopify has just announced that Jon Wexler will be joining the global, Canadian-based e-commerce company on Sept. 14 as vice president of its creator and influencer program. As he did ...
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Article
Galeria’s creditors agree to a big settlement
On Sept. 1, the creditors of Galeria Karstadt Kaufhof (Galeria or GKK), by far the biggest department store chain operation in Germany, voted by a large majority in favor of a settlement that would reportedly write off about 95 percent of the amounts they are owed. Meetings with the creditors ...
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Article
New management for Kesko’s resilient sports unit
Sami Kiiski, a 44-year-old manager who left as chief executive of Halti at the end of July after turning the company around, has taken the leadership of Kesko’s Leisure Trade division, which includes Intersport Finland, the major player in the Finnish sporting goods market. One of his tasks will be ...
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News briefs
Adidas places two low-yield €500 million bonds
Adidas placed two low-yield bonds worth a total of €1 billion, describing the transaction as its first one as an investment-grade-rate issuer, demonstrating the company’s strong credit profile. The bond offer was more than seven times oversubscribed. The proceeds will be used for general purposes including the repayment of existing ...
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News briefs
A revived Confirmed app by Adidas
Adidas is resurrecting its five-year-old Confirmed app as a new, updated e-commerce platform filled with story-telling contents. The new app became available in the U.S. last week, and there are reportedly plans to launch it also in China at the end of this year and in Europe next year. In ...
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News briefs
Decathlon closes two stores in Russia
Decathlon has decided to close two mega-stores in different parts of Russia in less than a month. On Aug. 20, the French sporting goods retailer announced that it would close a store in Ivanovo. The decision was made against the background of a major slump in revenue due to the ...
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Article
Two prominent Adidas executives quit
Two prominent U.S.-based Adidas executives are leaving at the same time, but an official of the company says the two events are completely unrelated. Jon Wexler, a 20-year veteran of the company who has been leading its Yeezy business unit since last November as vice president and general manager, left ...
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OpinionOpinion: The short- vs long-term perspective of retail recovery
Guest Article by Magnus Ohlsson The pandemic has led consumers to shift interests and behavior for now, but not necessarily forever. This also means that short-term gains and losses should not be translated into an everlasting future. It is important to take into the equation the brand performance of the ...
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News briefs
Decathlon partners with Captain Wallet for loyalty cards
Decathlon France is partnering with Captain Wallet on a mobile solution that allows customers to access their loyalty card directly via the wallet mobiles on their smartphone. Until now, this was only possible through the customer’s account page on the Decathlon website.
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Short stops
RETAIL
+++ Sports Direct has opened a 51,000-square-foot store in Newry’s Buttercrane Centre, one of its biggest in Northern Ireland +++ Foot Locker has opened a five-story space in Singapore’s Orchard Gateway @Emerald, with retail over three levels, to sell footwear and apparel collections from global brand partners while celebrating basketball ...
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News briefs
Adidas and Unity release joint collection
Adidas Skateboarding and Unity, a producer of gender-neutral skate apparel and shoes, are releasing a joint collection for autumn/winter 2020. Unity was founded in 2017 by Jeffrey Cheung and Gabriel Ramirez specifically for the LGBTQ+ market. Cheung has used his illustrations to modify Adidas-designed shorts and shirts as well as ...
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News briefsBlue Tomato opens second store in Munich
Omnichannel retailer Blue Tomato from Austria, specialist for boardsports and lifestyle, will open its second store in Munich, Germany, on Sept. 3 at Oberanger in the heart of the city’s old town. The 500 square meter store will be managed by Joachim Lais. Tillmann Ruprecht, director of sales & service ...
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ArticleAnta Sports switches to DTC in China
The pandemic has been a catalyst for change across many companies this year, including at Anta Sports Products. It has decided to do away with the wholesale model that it employed for 20 years in 11 major provinces. Instead, the Chinese sports group will switch to a new business model ...
