All Sporting Goods Intelligence articles in Volume 32, Issue 49+50 – Page 3
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ArticleBig changes in anti-trust commercial regulations are being discussed in Brussels
Following a workshop held on Nov. 14 and 15, where the Federation of the European Sporting Goods Industry (FESI) and other trade associations expressed their reservations about it, the European Commission has agreed to revise at least one of the new draft VBER2022 regulations and guidelines that it submitted for ...
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ArticleThe WTA suspends all tournaments in China over Peng Shuai’s plight
On Dec. 1, the chairman and CEO of the Women’s Tennis Association (WTA), Steve Simon, announced, “with the full support of the WTA Board of Directors,” the “immediate suspension of all WTA tournaments in China, including Hong Kong.” The WTA has a ten-year deal for nine tournaments in China, among ...
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ArticleThe unvaccinated are banned from Germany’s non-essential stores
In contrast with Austria, where non-essential stores and other public indoor services have been forced to shut down completely at least until Dec. 13, or with the U.K., where people must now wear masks in all the stores, non-essential stores as well as cinemas, theaters and restaurants in Germany will ...
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Short stops
Dec. 2 Short Stops: Adidas - Clarus – Gymshark – Hummel - Joy Sportswear – Puma – Selfridges - Skechers - Unisport
Corporate: +++ Following on its acquisition of Rhino-Rack, Clarus Corp. continues to diversify into vehicle accessories with the takeover of another Australian company, Maxtrax, which specializes in recovery tools for off-road vehicles (more in The Outdoor Industry Compass) +++ The Tremblant Capital Group, an activist investor that holds ...
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News briefs
Puma boosts shoe production in Argentina
Puma added two more production lines to its footwear factory in Argentina last month, in addition to the three lines that it had incorporated there earlier this year, in order to raise its annual capacity from 1.4 to 2.4 million pairs. Located at La Rioja, the plant is run by ...
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ArticleS&P compares Reebok to Champion
Standard & Poor’s confirmed its B issuer credit rating for the Authentic Brands Group (ABG) after its decision to bring in two new investors, HPS Investment Partners and CVC Capital, instead of raising new capital by going public. As reported, they both purchased some of the existing shareholders’ shares. Instead, ...
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ArticleBogner teams up with Bosideng for China
Bogner has signed a joint venture agreement with a subsidiary of Bosideng International Holdings, a leading Chinese apparel group, to establish a strong presence for the Bogner and Fire+Ice brands in the Greater China area with the support of experienced managers. The business plan calls for strong social media activities ...
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ArticleSnipes snaps up the Jimmy Jazz chain in the U.S.
Snipes, the sneaker retail chain owned by the Deichmann Group, has agreed to acquire Jimmy Jazz, an American chain of sneaker stores with a hip-hop vibe and headquarters in Secaucus, New Jersey. The deal was signed on Dec. 1 and should close before the year is out. Terms remain undisclosed. ...
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ArticleABG signs up licensees for Reebok in the U.S., Latin America and Australia
True to its own business model, the Authentic Brands Group (ABG) has announced a slate of “strategic operating partners” that will license the Reebok brand for the U.S. and other key regions around the world once its acquisition is completed as planned in the first quarter of 2022. The Sparc ...
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News briefs
Adidas cancels over 8 million treasury shares after stock buy-backs
After completing its share repurchase program for the year, Adidas says it has proceeded to cancel 8,316,186 shares held in treasury, reducing the share count from 200,416,186 to 192,100,000. In its second tranche of the program, which ran from Oct. 18 to Nov. 25, the company bought back 1,619,683 shares ...
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News briefs
Frasers expands its credit facility, reports more treasury shares
Frasers Group, the British parent of Sports Direct, announced that it has entered into a new term loan and credit facility with its bankers that allows it to borrow up to an aggregate amount of £930 million (€1,093m-$1,237m) over the next three years, with an option to extend it for ...
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Short stops
Dec. 1 Short Stops: Asics - Covid - Montura - VF
Corporate: +++ Herno, the Italian casual luxury clothing brand led by Claudio Marenzi, is moving into activewear through the planned acquisition of Montura, the leading Italian brand of mountaiwear, in partnership with Nuo, according to MF Fashion (more in The Outdoor Industry Compass) Management: +++ Ignacio ...
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Article
Kappa’s Chinese owner reports a big financial loss
China Dongxiang, whose holdings include the ownership of the Kappa brand in China, reported a huge net loss of 748 million yuan renmimbi (€103.5m-$115.6m) for the first half of its financial year ended Sept. 30, compared with a profit of RMB 1,116.2 million in the same period a year ago. ...
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ArticleAllbirds’ loss nearly doubled on 33% higher sales in Q3
Reporting its first quarterly results as a public company, Allbirds said its revenues grew by 33 percent to $62.7 million in the three months ended Sept. 30, as compared to the same period a year ago, driven by a 42 percent increase in the U.S. to $47.7 million. Sales in ...
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News briefs
Skechers announces sustainable initiatives
Skechers announced the release of a new collection of durable men’s, women’s and children’s sneakers using recycled materials and washable technologies, called Our Planet Matters. The recycled materials will be listed on hangtags and the packaging. It also announced a multi-year partnership with The Nature Conservancy, starting with a minimum ...
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News briefs
Adidas partners with cryptocurrency and gaming platforms
Adidas has struck partnerships with the cryptocurrency exchange Coinbase and the gaming platform The Sandbox, announcing them via Twitter on Nov. 22 and 24, respectively. The strategy behind these moves remains undisclosed, but it stands to reason that the German sportswear giant is seeking to sell branded virtual apparel and ...
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News briefs
Adidas strikes deal with Brooklyn Nets Basketball Academy
Adidas has signed a multi-year deal to become the preferred supplier of merchandise and equipment for the new Brooklyn Nets Basketball Academy for children. The NBA team will be selling Adidas-branded James Harden apparel through the Brooklyn Fanatics store at its home arena, the Barclays Center. Harden plays guard for ...
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ArticleExperts discuss textile recycling options at a meeting hosted by Lycra
In a second global panel discussion hosted by The Lycra Company, 28 industry experts evaluated the pros and cons of mechanical recycling versus chemical recycling and what is needed to make garment recycling a commercially viable reality. The panelists agreed that chemical recycling is a more promising technology than mechanical ...
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ArticlePraising Allbirds, WSGN warns against greenwashing
With consumers demanding more sustainable and equitable products and being increasingly aware of corporate greenwashing, footwear brands must be authentic in marketing sustainable goods, or else their communication strategy may backfire, WGSN warned during a couple of webinars organized by the Italian trade fair Expo Riva Schuh. Greenwashing can be ...
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ArticleABG sees Reebok reaching $10 bn at retail
Jamie Salter, CEO of the Authentic Brands Group (ABG), told Footwear News that he sees Reebok growing by more than 20 percent in 2022, generating more than $5 billion worth of sales at the retail level. He added that ABG’s goal is to take the brand’s retail sales up to ...
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