News Briefs – Page 13
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News briefsBucha Bio finishes $1.1m funding round
Biomaterials science company Bucha Bio is announcing a $1.1 million funding round. The company specializes in biobased materials, using bacterial nanocellulose and other plant-based components to replace conventional leathers and plastics. According to the company, the new funding will accelerate the company’s move to market by securing co-manufacturers to scale ...
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News briefsAnta to build international operations center in Suzhou
Sports group Anta, headquartered in China’s Fujian province, is planning to build an international operations center in the city of Suzhou, the trade publication Sportstextiles has reported. The new 160,000-square-meter center will be built within the China–Singapore Suzhou Industrial Park, also known as Suzhou Industrial Park. The total investment will ...
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News briefsSpoon Group raises £740,000
Spoon Group, the bespoke bike company that owns the WyndyMilla and Spoons Customs brands as well as custom paint shop Gun Control Paint, has closed a financing round worth £740,000 (€845,575). A private round that brought in nearly £300,000 in new investment was followed by funding from long-term debt partner ...
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News briefsInvestors and Jaktia management acquire Jaktia Group
Jaktia, a Scandinavian franchise chain specialized in the hunting, fishing, and outdoor segments, has new owners. A private investment company consisting of Jaktia’s management, together with a few investors, has acquired 100 percent of the shares in Jaktia AB, Jaktia Kållered AB, Jaktia Falun AB, Jaktia AS and Jaktia Jessheim ...
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News briefsLenzing switches to green electricity also at its Chinese site
The Lenzing Group is gradually transitioning to green energy at its production site in Nanjing. This will allow its Chinese subsidiary Lenzing Nanjing Fibers to use electricity derived only from renewable sources from 2023 onwards. The transition will also reduce the site’s carbon emissions by 100,000 tons annually, the company ...
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News briefsEddie Bauer to roll out in Japan with Itochu partnership
Authentic Brands Group (ABG) and Itochu, a Japan-based trading company that specializes in textiles, machinery, food and energy, have announced a partnership to grow ABG’s outdoor brand Eddie Bauer in Japan. To facilitate this, Itochu will partner with Mizujin, a fashion wholesale and retail company, to design, manufacture and distribute ...
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News briefsPierer Industrie AG acquires majority stake in Syntace
Austrian-based Pierer Industrie AG has acquired an unnamed majority stake in renowned German bicycle component manufacturer Syntace GmbH. No details of the purchase price were disclosed. Syntace develops and produces a wide range of high-quality lightweight products from wheels to hubs, handlebars, seat posts and pedals. The high-quality MTB niche ...
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News briefsNewell Brand’s bond offering receives Ba1 rating from Moody’s
After a negative outlook from S&P Global for Newell Brands, the parent company of outdoor and recreation brands CampingGaz, Coleman, Marmot and others, Moody’s rating was much more favorable: The new senior unsecured bonds received a Ba1 rating, and the outlook for the company remained positive. The rating agency expects ...
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News briefsThule expects impact on its bicycle business from reduced orders
In a webcast meeting with Magnus Welander, CEO and president of the Thule Group, the company informed about the current market situation just before the company’s Q3 report 2022, which is scheduled for Oct. 26. In its half-year report on July 21, the company described the general market situation in ...
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News briefsCyberattack hits The North Face, affecting almost 200,000 customer accounts
As reported by Infosecurity, Techradar, Cybernews and other media outlets, The North Face (TNF) was hit by a large-scale cyberattack that affected the data of 194,905 of the brand’s online customers. Email addresses, passwords and personal information stored in user accounts were hacked. According to a data breach notification obtained ...
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News briefsBike chain Multicycle launches in Austria
Shortly before opening its 31st store in its home market of Germany, German bicycle chain Multicycle Fahrrad-Handels GmbH & Co. KG announced plans to expand to Austria. So far, the company, known primarily as a Cube store operator, had only announced plans to open four more stores (Frankfurt West, Reutlingen, ...
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News briefs
Gruppo Seven acquires majority stake in Incall
Gruppo Seven, the owner of Italian backpack specialists Invicta, has acquired a 75 percent stake in Incall SpA, a stationery producer based near Ancona and the owner of the Mitama brand. The financial terms of the transaction have not been disclosed. Incall, which posted revenues of €17 million in 2021 ...
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News briefsNewell Brands drops FY22 outlook
Newell Brands has revised its full-year revenue, operating margin and cash flow forecasts due to “a more challenging than anticipated operating and consumer backdrop.” The Atlanta-based company and parent to eight brands in its outdoor & recreation segment, including CampingGaz, Coleman, Marmot and Ex-Officio, has reduced its FY22 revenue outlook ...
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News briefsOberalp Group acquires Romanian shoe manufacturer Droker
On Sep. 1, the South Tyrolean Oberalp Group acquired the Droker S.r.l. shoe factory based in Sebes in Transylvania, Romania, which has been producing 40 percent of Salewa’s total shoe production for years. A center of excellence had emerged in the region in recent decades, attracting various companies – especially ...
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News briefsVF reportedly cutting several hundred jobs
ShopEatSurf reported that VF Corp. headquartered in Denver, Colorado, and parent company of brands such as The North Face, Timberland, Smartwool, Altra, Icebreaker and Vans, is cutting 600 jobs worldwide “to align our people and capabilities with our highest strategic priorities,” as VF CEO Steve Rendle reportedly stated in a ...
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News briefsMammut transfers Alpine School to long-standing partner
Mammut Sports Group is handing over its Mammut Alpine School, founded by the brand in 2008, to its long-time partner Zermatters, which will integrate the school into its own organization. From September 2022, Zermatters will take over the day-to-day operations for the upcoming winter season, while the Alpine School will ...
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News briefsSätila expands factory and introduces new product category
Swedish wool accessories company Sätila, founded in 1896, has announced that it is expanding and remodeling its factory in Sweden. To create additional space for production, the warehouse will first be moved off-site. This will make room for new knitting machines and washing machines needed as part of expanded in-house ...
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News briefsRapha Racing implements AI technology for more resilient supply chains
The cycling apparel brand Rapha Racing has entered into a new cooperation with the London-based artificial intelligence (AI) technology provider 7bridges to manage its range of different carriers and service providers globally through an AI platform. Rapha’s arrangement with 7bridges includes the invoicing process as well as automated processes in ...
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News briefsDongsung Chemical and UPM join forces for large scale production of biochemicals
In 2020, the German subsidiary of Helsinki-based company UPM announced its entry into the biochemicals business by building a new biorefinery at the former GDR chemical industry hotspot of Leuna, Germany. The original announcement spoke of a €550 million investment, which has been changed to €750 million in the press ...
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News briefsJack Wolfskin revises logo and introduces new brand claim in all markets
The German brand Jack Wolfskin has slightly reworked its logo and addresses consumers globally with its new claim, “We live to discover,” starting this winter season. The new positioning has been developed under the brand’s CEO Richard Collier, who has held the position since December 2020. “We are now taking ...
