All Outdoor Industry Compass articles in Vol. 16, Issue 3 – Page 5
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News briefsKathmandu has a new CEO
KMD Brands has apointed Megan Welch, most recently SVP/GM for Crocs’ Asia/Pacific business based in Singapore, as the new CEO for its Kathmandu business unit starting on Aug. 7. She takes over and will report to Michael Daly, KMD’s group CEO and managing director, who added the Kathmandu responsibilities on ...
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News briefsThule Group CFO announces departure
Thule Group has announced that Jonas Lindqvist is to leave his position as Chief Financial Officer. Lindqvist has been the CFO of the Thule Group since 2020 and will remain in his role until his successor is in place. The recruitment process for a new CFO will begin immediately. This ...
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ArticleYeti Q1 sales inch up despite recall impact, sees return to double-digit growth in Q4
Yeti’s sales in the first quarter of 2023 rose by 3 percent to $302.8 million, despite being affected by a stop sale of certain soft coolers included in voluntary recalls implemented due to safety concerns.
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News briefsSustainable performance fiber team secures $3.7M funding
Werewool, a pioneer of sustainable performance fibers which uses proteins to create products normally manufactured with petroleum, has announced a $3.7 million seed funding. The funding was led by Material Impact and Sofinnova Partners to further the company’s mission to produce biodegradable fibers with protein-based color and performance properties using ...
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News briefsHelly Hansen sales rise by double-digits in Q1
Helly Hansen, the Norwegian outdoor brand owned by Canadian Tire, generated a 22.9 percent increase in Q1 revenues to C$208.4 million (€150.6m) compared to C$169.6 million in Q1 2022. In Norwegian kroner, sales were NOK 1,576.3 million versus NOK 1,185.1 million for the period that ended March 31. The company ...
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ArticleJack Wolfskin delivers a “nice quarter of growth” for Topgolf Callaway
Topgolf Callaway Brands, the parent group of Jack Wolfskin, beat earnings and sales forecasts for its first financial quarter but trimmed profit forecasts. CEO says the outdoor wear and equipment brand outperformed expectations in China, although headwinds in Europe persist.
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News briefsOctarine Bio and Ginkgo Bioworks team up to produce natural colors
Octarine Bio, a Danish synthetic biology firm that develops new sustainable bio-based ingredients, and Boston-based Ginkgo Bioworks have announced a multi-stage partnership to produce natural colors. Most textiles are still produced with synthetic colors and dyes derived from fossil fuels, a practice that has negative effects on human health and ...
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News briefsGiant Group and Stages Cycling cancel minority share takeover negotiations
At the beginning of the year, we reported on two ticker announcements from the Taiwan Stock Exchange (TWSE). Both concerned the listed bicycle producer Giant Manufacturing Company Ltd. (or Giant Group, including brands Cadex, Giant, Liv and Momentum). The first: That Giant Group had acquired a minority stake in US-based ...
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ArticleGiant Q1: Overstock harming sales in the West
Inventory reductions in the European and North American markets, as well as the higher year-on-year comparison base, have had a direct impact on the first quarter results of bicycle producer Giant Manufacturing Company Limited (Giant Group). The Taiwanese company had to swallow a 9.6 percent sales drop compared to the ...
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ArticleThredUp making progress towards profitability
ThredUp Inc. CEO James Reinhart said he was “confident in our ability to flex our marketplace, invest in strategic growth opportunities, and make progress towards profitability” as the resale platform announced its financial results for the first quarter ended March 31, 2023.
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News briefsLenzing launches new carbon neutral version of its Acetic Acid Biobased
Austrian fiber producer Lenzing Group is celebrating the 40th anniversary of the Lenzing Acetic Acid Biobased, first introduced on May 4, 1983. The carbon footprint of the standard Lenzing Acetic Acid Biobased is 85 percent lower than that of fossil-based acetic acid. To mark the important anniversary, Lenzing is now ...
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News briefsSalewa launches its first MTB apparel collection
Salewa has released Vento, its first-ever bike capsule collection. The South Tyrolean mountain sports brand has been known for over 85 years for its technical equipment for alpinists, climbers and mountaineers. The company is now applying its expertise in making technical weatherproof apparel to a bike wear. The new line ...
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News briefsNew Swiss trading partner for Rab and Lowe Alpine
The Equip brands Rab and Lowe Alpine have announced a new trading partner for Switzerland. From now on, a team of five from the trading agency Icon Outdoor Equips, managed by Balz Willen and Werner Schunk, will look after specialist trade partners in Switzerland on behalf of Rab and Lowe ...
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ArticleOrbea posts seventh consecutive year of growth
Without losing sight of its values and identity as a cooperative, Basque bike manufacturer Orbea S. Coop has become a leading and globally recognized bike supplier. As the company announced at its AGM on May 6, it now employs more than 1,000 people worldwide. 80 percent of them in its ...
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ArticleRevolutionRace sees sales growth accelerate after top line grows 13% in Q3
Despite weak consumer sentiment and extensive markdowns, RevolutionRace’s top line rose by 13 percent to 414 million Swedish kroner (€37.1m) in Q3.
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News briefsChiruca reforestation project reaches milestone, runs into heat trouble
Spanish mountain boot brand Chiruca’s reforestation project, the “Bosque Chiruca” (Chiruca Wood), has planted 24,000 trees over 23 hectares in its eight-year existence, according to Diffusion Sport. Of these, some 10,500 have been moved or freshly planted this year. The outdoor-footwear producer’s head of quality and environmental affairs, Jorge Orío, ...
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News briefsNew distribution partner as Jack Wolfskin aims at Iberia market
German-based apparel and footwear brand Jack Wolfskin is to enter the Iberia markets of Spain, Portugal and Andorra for the first time, via a distribution agreement with The Brand Labs sales agency. Based in Barcelona, The Brands Lab represents high-end outdoor and cycling brands in the region. Beginning May ...
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News briefsMammut continues partnership with Climeworks
Mammut is continuing its partnership with Swiss carbon removal and storage company Climeworks, via a challenge on its Strava channel. Mammut is calling on members of its Strava club to run a minimum of 100 km in May, and 10,000,000 km collectively. Climeworks will then remove 10 tons of CO2 ...
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Short stops
Short Stops Week 19, 2023
PRODUCT & MARKETING +++ Finnish company Suunto has released a new GPS sports watch model for adventurers, the Suunto Vertical, made in Finland with 100 percent renewable energy +++ The Swedish maker of lightweight, electric motorcycles and mopeds Cake have announced the formation of a new Cake Enduro Factory Team, ...
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News briefsStio raises $20 million in capital
US mountain lifestyle brand Stio has raised $20 million in capital to support its Mountain Studio retail locations, future product category development and a pivot towards a more diversified omnichannel approach, according to SGB. Led by Lagi Innovation Fund, the debt-equity raise comes as the mountain town brand announced it ...
