At its annual general assembly, which is usually held at this time of the year before the ISPO Munich show, the World Federation of the Sporting Goods Industry (WFSGI) reported on a successful closing of the year 2021, with positive financial results and the addition of new staff, eight new members and three new partners. It achieved a profit of just over 60,000 Swiss franc (€58,000-$65,000) by reducing costs and managing its finances properly.
Despite the ongoing challenges related to the pandemic, the global organization also continued to deliver new services to its members: Among other services, it engaged in market research and analysis in collaboration with McKinsey & Co., producing yet another report on the “Next Normal” in the industry, which we have already reported about. The new report covers and analyzes relevant changes in consumer behavior – including the rise of social commerce – and the reshaping of distribution channels, the supply chain and the growing importance of sustainability.
In terms of sustainability, the WFSGI’s board of directors approved a new plan to join the UN Fashion Charter for Climate Action. It will also continue to engage in discussions with the Centre for Sport and Human Rights and the FIFA Quality program, offering the WFSGI Pledge as a tool to ensure that FIFA certified products are manufactured in compliance with the WFSGI Code of Conduct for labor standards and basic environmental requirements.
WFSGI claims that this WFSGI Pledge has saved its members several hundred thousands of dollars. Other success stories include savings of $4,910,856 from a reduction in Brazil’s anti-dumping duties on footwear, more than $200,000 a year through its Labelling Database, and the elimination of at least 343,250 sites that have been offering fakes through the work of its Legal Committee.
In 2021, the federation also formed a new Athletics Committee, led by a team of Adidas, Nike, Asics and Puma executives, to engage and enhance the cooperation with World Athletics.
New and relevant legal information will be offered to WFSGI members with a new “Horizon Scanning” legal tracker, described as an easy to-read overview of worldwide legal measures impacting the sporting goods industry,” that is planned to be published quarterly as of now. Concrete support in merchandise management is to be expected from a newly formed WFSGI working group on “Digitization of Product Information” that will share best practices and solutions to push for digital labelling in the industry.
Furthermore, WFSGI has been granted observer status in the meetings of the member states of the World Intellectual Property Organization (WIPO). The two bodies plan to organize a joint webinar on WIPO services that can benefit WFSGI members.
The organization is starting into the new year with two new internal team members: Michelle Smyth as head of cycling and Riccardo Pagiri as project coordinator.
Eight new members joined WFSGI in the course of last year: 4iii Innovations, Champion Europe, Cycleurope Sverige, LMK International, Mavic Goup, Riese & Müller, Trend Power Technology (Taiwan branch) and Pivot Cycles. WFSGI launched last year a new membership category for start-ups, and it has been in discussion with many of them.
The following companies have agreed to join WFSGI as new partners: RecallDesk, Siemesns and Xener by ATEX Industries.
A comprehensive overview on the WFSGI’s work in 2021, plans and offerings for 2022 and offerings is available in its annual magazine publication, which can be read on its website, wfsgi.org.
