All Sporting Goods Intelligence articles in Volume 33, Issue 49+50
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PDF NewsletterSGI Europe Executive Edition: Vol 33 - 49+50
Rendle steps down as CEO, VF revises FY23 outlook | WSFGI elects new board of directors | Currency, inflation weigh on Zumiez results | Foot Locker continues to restructure its management | ISPO Munich 2022: Here to stay – and to learn as well | Consumer sentiment in Europe improves | The crisis is shaping supply on the Russian sporting goods market | Sportmaster unfolds plans to expand the range of Chinese sporting brands | Woolmark announces winners of the Performance Challenge Award 2022
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News briefsQatar looking to host 2036 Olympics
Qatar is reportedly ready to bid once again to stage the Olympic Games in 2036, despite having failed in the past, according to multiple press sources. Qatar is currently hosting the FIFA World Cup, the first to take place in the Middle East and in a northern hemisphere winter. FIFA ...
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News briefsBenoit Verdier no longer general manager of Go Sport
Less than a year after his appointment, Benoit Verdier has resigned as general manager of French sporting goods retailer Go Sport. The retailer’s 2,160 employees received the news of his departure on Dec. 1 “without any explanation,” according to French newspaper Le Monde. Verdier became general manager of Go Sport ...
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News briefsCytech has acquired Pasasport
Cytech has announced the acquisition of a majority stake in Pasasport, an Italian manufacturer of gloves and accessories for cycling, running, skiing, sailing and other sectors. Controlled by PM & Partners and also headquartered in Italy, Cytech is the owner of the Elastic Interface padding brand for cycling shorts and ...
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News briefsBioniq acquires Vaha
Bioniq has acquired Vaha, known for its award-winning interactive fitness mirror. Bioniq is a London-based firm specializing in healthcare supplements. The move is part of the company’s mission to promote health and well-being, which will now combine bespoke supplements and personalized home fitness. The Bioniq global platform, now including Vaha, ...
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News briefsZwift appoints former Amazon executive as co-CEO
Zwift has announced that Kurt Beidler is to become the company’s co-CEO. He will be sharing duties with Eric Min, who will remain chairman of the company. Beidler joins Zwift from Amazon, where he spent 17 years, most recently leading the Amazon Kids+ subscription service.
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News briefsDecathlon integrates Resortecs disassembly technologies and launches ski jacket designed for recycling
Resortecs, the textile technology company, has announced that Decathlon is launching the first ski jacket to incorporate its Smart Stitch thread, in the retailer’s winter sport’s brand, Wedze. Resortecs has received a €2.5 million grant from the E.U. to accelerate the go-to-market of its heat-dissolvable and purportedly fully recyclable sewing ...
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News briefsFanatics raises close to $700 million, hits $31 billion valuation
In a new investment round, sports merchandise giant Fanatics Inc. has raised roughly $700 million, most of it from parties that had not previously invested in the company. According to various accounts in the business news media, among those new investors are private-equity firm Clearlake Capital Group LP, which led ...
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News briefsMetabolism measurement technology provider Lumen raises $62m
Source: Lumen Israeli company Lumen, founded in 2014, has raised $62 million in a Series B funding round led by Pitango Growth. Participating investors include Hanwha Group, Resolute Ventures, RiverPark Ventures, Unorthodox Ventures, Almeda Capital and Disruptive VC. Lumen focuses on a handheld device and a connected ...
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News briefs
Anta weighing up an IPO of Amer Sports
Anta Sports is considering an initial public offering (IPO) of Amer Sports, Bloomberg has reported, drawing its information from people familiar with the matter who asked not to be identified. Amer Sports includes brands like Wilson, Arc’teryx, Salomon and Atomic. The company and its co-investors are currently holding preliminary negotiations ...
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ArticleWorld Athletics publishes study of online abuse
World Athletics, the worldwide governing body for track and field, has published a second Online Abuse Study. The first was conducted during the Tokyo Olympics (in 2020), focused on Twitter, and inspired World Athletics to adopt what it calls a safeguarding policy in November 2021. The body revised the policy ...
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News briefsSnapchat and H&M release a digital fashion collection
Technology company Snap, owner of the visual messaging service Snapchat, is partnering with fashion retailer H&M to launch a digital collection powered by the Snap Camera. From Dec. 5, 2022, users have access to three augmented reality Try-On Lenses, available via H&M’s mobile app and on Snapchat. The lenses ...
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ArticleThe crisis is shaping supply on the Russian sporting goods market
Western brands are increasingly withdrawing from the Russian market, while local brands are reportedly expanding their presence. Helly Hansen joins a long list of Western companies that have severed ties with the Russian market by selling its business to top local managers. Russian newspaper Vedomosti believes the value of the ...
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ArticleSportmaster unfolds plans to expand the range of Chinese sporting brands
Russia’s largest sporting goods retailer is looking for alternative suppliers to replace Western brands that have withdrawn from the Russian market. Urban Vibes, a chain owned by Sportmaster, plans to start importing a number of Chinese brands, including Li-Ning and 361, Russian newspaper Kommersant reported, citing sources close to the ...
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News briefsRossignol to donate refurbished skis
From now through to April 30, 2023, Rossignol will be running a charitable drive called “One for One,” in which it pledges to donate one pair of reconditioned skis to charitable organizations and amateur sports federations in developing countries for every new pair purchased online. The company says that every ...
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News briefsUYN hires new distributor for Spain, Portugal
UYN (Unleash Your Nature) has hired Mega Sport to handle its distribution in Spain and Portugal. The distributor’s chief executive, David Vinyeta, told CMDsport that the Italian apparel brand for outdoor, running, cycling, yoga and other sports produced some 1,860 products last year at its 3,500-square-meter research center, Areas (Academy ...
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News briefsIdris Elba’s Don’t Stab Your Future launches new charity Nike Air Force One
Idris Elba’s non-profit apparel brand Don’t Stab Your Future has designed an exclusive variation of the Nike Air Force One in collaboration with NFL coach Aden Durde as part of the NFL’s My Cause My Cleats initiative. The shoe features the words “Don’t Stab Your Future” on the Nike swoosh ...
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News briefsKeller Sports opens insolvency proceedings, business operations continue
The German Keller Group – umbrella company of Keller Sports, Keller X, Keller Premium and Keller Smiles – has filed for insolvency proceedings in self-administration at the Munich District Court, according to German trade magazine TextilWirtschaft. The main reasons cited are the supply chain crisis and the significant deterioration in ...
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News briefsUN Resolution highlights power of sport to achieve peace and sustainable development
The United Nations (UN) General Assembly in New York adopted on Dec. 1 a consensus resolution that recognizes the power of sport to expand sustainable development and inspire young people around the planet. The text is titled “Sport as an enabler for sustainable development.” In his opening remarks, the president ...
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News briefsXXL announces new group CEO
Norwegian sporting goods retailer XXL has announced the appointment of Freddy Sobin as the next group CEO. He is expected to join XXL by May 2023 at the latest. Stein Eriksen, currently serving as interim CEO, will return to his position as CFO when Sobin joins XXL next year. He ...
