All Corporate articles – Page 8
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ArticleWave of insolvencies at SSU seems unleashed
While Signa Sports United (SSU) offshoot Internetstores GmbH (Addnature, Bikester, Brügelmann, Campz, Fahrrad.de, Probikeshop) is said to have informed its suppliers of impending insolvency in self-administration and British affiliate WiggleCRC is believed to have done the same in its home country, German Tennis-Point GmbH has already filed for insolvency on ...
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News briefsJohnson Outdoors to focus on Jetboil brand in camping segment
Johnson Outdoors Inc., the US outdoor recreation equipment and technology provider, announced that it is exiting its Eureka product lines. The product lines will be available for sale as it winds down operations and plans on fulfilling all customer requirements through the end of 2024. “After careful and thoughtful consideration, ...
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ArticleVF investor pushes for turnaround plan
In a presentation, California-based activist investor Engaged Capital outlined that the parent company of Vans, The North Face (TNF), Timberland, Supreme and others is suffering from bloated overhead that is driving down shareholder value and called for a more detailed turnaround plan for VF Corp. It said that the overhead ...
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News briefsPierer Mobility AG announces change of ticker symbol
The shares of the two-wheeler giant Pierer Mobility AG (brands KTM Motorrad, Husqvarna Motorcycles, GasGas as well as Felt Bicycles, Gas Gas E-Bicycles, Husqvarna E-Bicycles, etc.) will no longer be listed on the stock exchange under the ticker symbol PMAG, but under PKTM with immediate effect. The shares of the ...
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ArticleLargest SSU shareholder cancels equity commitment
Shortly after deciding to delist from the NYSE, Signa Sports United (SSU) announced that it had received a termination notice regarding the unconditional equity commitment letter from Signa Holding GmbH, a privately held Austrian real estate and retail company and a subsidiary of the company’s largest shareholder, Munich-based Signa International ...
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News briefsREI cuts 275 retail jobs
U.S. outdoor retailer REI Co-op is cutting 275 of its 12,300 retail jobs as part of a broader plan to update its brick-and-mortar business model. The company’s employees were reportedly informed of the layoffs through a memo by REI’s VP of Stores, Mary-Farrell Tarbox, on Oct. 12. The cuts primarily ...
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ArticleVittoria opens cotton bike tire factory in Bangkok
Italian bicycle tire specialist Vittoria has opened a new factory in Thailand for the production of cotton bicycle tires. This €20 million investment will expand the Vittoria Tyres Thailand (VTT) factory site from 36,000 to 51,000 sqm in the Bangpoo industrial area, near VTT’s current headquarters. The 10,000 sqm facility ...
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News briefsOfficial launch of ReHubs Europe
At a kick-off meeting in Barcelona on Oct. 3, the European Apparel and Textile Confederation (Euratex) and 20 incoming members presented ReHubs Europe, a new international non-profit organization dedicated to boosting textile recycling. The official launch follows three years of preparation and the publication of a ”Techno-Economic Study” that looked ...
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ArticleVista Outdoor unveils name for outdoor products segment
Having already announced the new name of its Sporting Products segment (The Kinetic Group) last August, Vista Outdoor Inc. has now revealed the name and identity of its Outdoor Products segment following the planned separation of the group: Revelyst, Inc. The new Outdoor Products company will trade on the New ...
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ArticleInov-8 rebrands for the first time in 20-year history
Founded in 2003 in the mountains of northern England, the running, hiking and fitness brand Inov-8 is undergoing its first rebrand. To mark the milestone of two decades, the company has now unveiled a new look with the new wordmark “INOV8.” The new name and logo will first appear on ...
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ArticleSSU delists from NYSE, new CEO
After assuming earlier this year that the worst of the market disruptions were over, Signa Sports United N.V. (SSU), the Berlin-based sports e-commerce specialist, has now announced an acceleration of its strategic realignment and performance improvement program. Ahead of putting its Q3 numbers on the table, the company is ...
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News briefsBleed wants to become community-based company
The sustainable outdoor brand Bleed from Germany, which ran into economic trouble earlier this year, has turned to its fans and supporters with a new rescue plan. In order to be able to continue operating, the company wants to become a “community-based business.” To this end, the company writes in ...
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News briefsColoreel announces $2m deal to scale production of its sustainable technology
Swedish textile innovation brand Coloreel has announced the signing of a $2 million agreement with “a prominent Asian manufacturer.” The deal has been described as “a significant milestone for Coloreel and its innovative product.” Coloreel has developed a technology for embroidery that enables high-quality coloring of textile thread on demand. ...
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News briefsHuntsman launches new technology collaboration platform
Texas-based chemical company Huntsman Corporation has launched a technology portal to enable collaboration with innovators and manufacturers across the value chain. The cross-divisional initiative aims to facilitate and foster external collaborations by connecting minds and expertise from different sectors with Huntsman to unlock potential business opportunities. “Working with external partners, ...
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News briefsLagoped raises €5.7 million
French outdoor clothing brand Lagoped has announced the completion of a funding round worth €5.7 million. The company raised around €3.2 million from private equity firms HPF and Vox Capital. Christophe Cordonnier, the company’s co-founder with Julien Désecures and Pierre Derieux, has retained a majority stake. In addition, Lagoped obtained ...
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News briefsEddie Bauer revamps CI, aims to get back on international stage
Eddie Bauer has unveiled a strategy to reposition and expand its brand. After outdoor industry veteran Tim Bantle joined the retail company as CEO a year ago, he hinted that he had discovered many missed growth opportunities that now needed to be changed. As a result, the ...
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News briefsUlvang rebrands, changes suppliers and collection
Norwegian wool apparel specialist Ulvang, a brand founded in 1995 and owned by the Brav Group, has undergone a complete rebranding. Since the first week of September, the brand’s website and social media have been reset and now feature a new logo and content. The changes also ...
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News briefsTrerè’s Titici bicycle brand opens US subsidiary
Premium bicycle brand Titici opened its first US subsidiary in Boston, Massachusetts, in August. The brand, under the umbrella of Italian textile supplier Trerè lnnovation (manufacturer of technical apparel brand UYN Sportwear, among others), aims to score points in the US with its road, gravel, mountain and e-bike products. Thanks ...
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ArticleVista Outdoor announces public filing to spin off its outdoor product brands
Vista Outdoor Inc., the parent company of 41 sports and outdoor brands, filed a public registration statement on Form 10 with the Securities and Exchange Commission (SEC) on Sept. 5, 2023, in connection with its previously announced plan to separate its Outdoor Products and Sporting Products segments into two independent, ...
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ArticleKSR Group files for court-supervised restructuring proceedings
Austrian two-wheeler wholesaler and importer KSR Group announced on Sept. 6 that it will file for court-ordered restructuring proceedings. Due to increased energy prices, high inflation and the loss of customers’ purchasing power, the economic situation has changed drastically over the past year in the markets served by the family-owned ...
