All Corporate articles – Page 47
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ArticleBike and sports e-commerce retailer Bike24 plans to go public in 2021
In September 2019, private equity firm The Riverside Company bought back German e-commerce retailer for cycling, outdoor, fitness and swimming products, Bike24 GmbH, from British cycling e-commerce giant Wiggle CRC. Riverside had sold the continental European cycling online platform to the British industry giant in 2017. However, that deal had ...
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News briefsKathmandu signs more green credit facilities
Kathmandu Holdings, which owns the Kathmandu, Rip Curl and Oboz brands, has already been recognized as a certified B Corp. The company has now refinanced its credit facilities with two others where the borrowing costs are linked to the achievement of certain targets for reduced carbon emissions, transparency and labor ...
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News briefs
Naturkompaniet to enter Norway
Swedish outdoor retail chain Naturkompaniet – with German Globetrotter and Finnish Partioaitta part of the holding company Frilufts Retail Europe AB, which again is part of Fenix Outdoor International AG – has announced that it will enter the Norwegian market. To do so, it has recruited Simon Larsen from Carlings, ...
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ArticleIPO of the bicycle certificate based on first and newly created bicycle stock index
For the first time, investors can now invest in a specific certificate on what the company describes as “the world’s first bicycle index.” The planned date for the IPO on the Frankfurt Certificates Exchange is June 21. 10 percent of the annual fee of 1.3 percent of this so-called “donation ...
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News briefsDutch venture capital fund invests in Bikemap
For further growth in the areas of product development and scaling of its team, Austria-based Bikemap GmbH, with its worldwide bike route collection app Bikemap (www.bikemap.net), has raised fresh capital. This time, Dutch €140 million venture capital fund Ponooc stepped in with an undisclosed seven-figure sum. Ponooc focuses its investments ...
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News briefsRevolutionRace to go public
Swedish DTC outdoor brand RevolutionRace will reportedly list on Nasdaq Stockholm this month. Founders Pernilla and Niclas Nyrensten, who currently own 34 percent of the shares, will sell an as-yet-undisclosed amount of shares along with Altor, a Stockholm-based private equity investment firm that currently owns 61 percent. The founders and ...
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News briefsFox Racing with new financing partner
On May 18, investor Wingspire Capital provided a US$95 million senior secured credit facility consisting of a US$35 million revolving credit line and a US$60 million term loan to Fox Racing Inc. The U.S. company said it’s using the loan proceeds not only to refinance its prior senior credit facility ...
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ArticleVista unveils four-year plan with ambitious strategic goals
With a successful fourth quarter under its belt, Vista Outdoor, headquartered in Anoka, Minnesota, has released its “Roadmap to 2025.” The plan calls for annual sales growth of more than 10 percent, including acquisitions, and an EBITDA margin that is expected to increase from the current 15.5 percent to 20 ...
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ArticleVF Corp. launches new incubator platform to develop innovative business models
VF Corp. has launched Venture Platforms, an “innovation pillar that will focus on identifying and investing in new, future-focused opportunities.” The new brand pillar within the group will add a specific innovation-focused component to the existing brand portfolio strategy, which will focus on identifying and investing in new, forward-looking opportunities. ...
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News briefsHanwag celebrates 100th anniversary
Source: Hanwag Hanwag, the Bavarian outdoor footwear company, has said that it will celebrate its centenary by making 400,000 pairs of boots and shoes. The business was founded in 1921 by Hans Wagner, the son of a shoemaker, in the village of Vierkirchen, north of Munich. Wagner’s ...
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News briefs
Chaco moves to new Michigan factory
Chaco, an outdoor lifestyle footwear brand owned by Wolverine World Wide, Inc., has moved to a larger and upgraded U.S. manufacturing facility in Rockford, Michigan, “to meet growing demands for increased footwear production, customization program, and reweb and resole requests from consumers,” the company said. The new factory provides 25 ...
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News briefsVF pledges to eliminate child labor
VF Corp. has created a new Child Rights Action Pledge to strengthen children’s rights and eliminate child labor throughout the global apparel supply chain by 2025. As part of its pledge, VF commits to integrate the Children’s Rights and Business Principles developed by UNICEF, the United Nations Global Compact and ...
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ArticleU.S. bike industry veteran to head Hero International in London
After Indian two-wheeler giant Hero MotoCorp Ltd. (also known as Hero Motor Company or HMC) announced in March the formation of Hero International (HIT) as its new international headquarters in Europe, U.S. industry veteran Jeff Weiss has now been hired as CEO of the new London-based company. Once founded as ...
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News briefsChanges in the sales strategy at Fjällräven Germany
As part of Fjällräven Germany’s new sales strategy, which was already initiated in the second half of 2019, sales have now been divided into the two areas of strategic accounts and field sales in order to maintain greater market and customer proximity. Andreas Kost was named head of field sales ...
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News briefs
Rapala VMC completes buy-back of shares
Rapala VMC Corp. communicated on March 25 that its board had decided to start buying back a maximum of 100,000 of Rapala VMC’s own shares, with a maximum of €700,000. The buy-back of its own shares started on April 1st and ended on May 10. During this period, the Finnish ...
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ArticleConstruction starts on new Kettler Alu-Rad e-bike factory in Germany
Kettler Alu-Rad, a member of Europe’s leading bicycle purchasing cooperative Zweirad-Einkaufs-Genossenschaft (ZEG), is beginning with the construction of a new production facility in the German state of Saarland. As early as the first quarter of 2022, the first e-bikes are expected to roll off the production line from one of ...
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ArticleA.S. Adventure Group becomes Yonderland as it completes its refinancing
The A.S. Adventure Group is changing its name to Yonderland as it completes a financial reorganization under which its bank lenders have acquired a minority stake in the company. In addition to rescheduling its debt, it will also receive a capital injection of €25 million to support its growth strategy ...
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News briefs
SRAM rewards shareholders after strong year
SRAM, the private maker of bicycle components, plans to issue a $1.1 billion term loan to finance a special distribution of $750 million to its shareholders, after a banner year in which its sales jumped to $974 million, thanks to the recent bike boom. The rest of the proceeds will ...
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News briefs
VF is splitting up Icebreaker, laying off up to 50
Four years after acquiring the New Zealander brand of merino-wool apparel, VF Corp. will be splitting Icebreaker into three entities, according to reports in the NZ Herald. Two of these entities will be operating out of the present headquarters, in the city of Ponsonby, and the other out of Switzerland. ...
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News briefs
Salomon unveils details of its restructuring plan
Salomon’s management, led by CEO Jean-Marc Pambet, presented details of its restructuring plan to the company’s Social and Economic Committee (CSE) on May 3. The plan envisages cutting 82 jobs out of 738 at the company’s facility in Annecy, in France’s southeast. The cuts are mostly due to the closing ...
