All Outdoor Industry Compass articles in Vol. 16, Issue 6 – Page 11
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News briefs
Specialized Germany bolsters marketing and finance management
Following the official opening of the “only mono-brand store in Germany Specialized operates itself” on Sept. 23 in Munich, Market Leader Germanic Markets Michael Richter has welcomed two new employees to the management of Specialized Germany GmbH. Both will report directly to Richter. While brand and marketing specialist Christian Lutz ...
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News briefs
Italian Outdoor Village at ISPO Munich 2023
The Italian Outdoor Group (IOG), part of Italy’s sporting goods industry body Assosport, has announced the names of the 14 companies that will showcase their products at the Italian Outdoor Village in Munich on Nov. 28-30, on the occasion of the upcoming edition of ISPO Munich. The Italian companies at ...
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Article
Fox Factory’s SSG sales slump weighs on overall result
With the presentation of the Q3 report for FY2023, suspension specialist Fox Factory Holding also announces the signing of a definitive agreement to acquire Marucci Sports’ parent company Wheelhouse Holdings. At the same time, the US company has adjusted its sales forecast for 2023 downwards to between $1.43 and 1.47 ...
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News briefs
CoDi’s large premium for Marucci will benefit the business
Compass Diversified’s decision to divest its Marucci Sports business to Fox Factory for $572 million after purchasing the brand for $200 million in 2020 will help the company reduce its cost of capital and give it “greater ability to increase shareholder returns,” it said in a statement. In Q3 ...
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News briefs
Better Cotton Platform launches as complete traceability solution
Better Cotton, the world’s largest cotton sustainability initiative representing over one-fifth of global cotton production, has officially launched its traceability solution for the fashion and textile sectors. With the launch, apparel companies can accurately trace and disclose the origin of raw materials. Developed over three years and in close consultation ...
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News briefs
Naturkompaniet opens two new stores in Norway
Swedish outdoor retail chain Naturkompaniet, part of Fenix Outdoor, has opened two new stores in Norway. The latest openings took place on Nov. 3 at Storgata 70, Lillehammer, and Storgata 52, Tromsø. With these two new stores, Naturkompaniet expands its product range and strengthens its position as a leading player ...
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Article
Marucci Sports sold to Fox Factory
Compass Diversified (CoDi), the Westport, Connecticut-based owner of several sporting goods brands, including Boa Technology, 5.11, PrimaLoft and Velocity Outdoor, announced that it has entered into a definitive agreement to sell its majority-owned subsidiary Wheelhouse Holdings, Inc, the parent company of Marucci Sports, to publicly traded suspension and suspension expert ...
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Article
Consumer protection agency enforces sales stop of Hövding 3 airbag, Hövding fights back
After the Swedish Consumer Protection Agency allegedly uncovered design flaws in some models of the popular Hövding 3 – an airbag that cyclists wear around their necks – and deemed the product “not in compliance with current health and safety requirements” (under the EU’s Personal Protective Equipment Regulation), Hövding has ...
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News briefs
Osprey announces 2023 Black Friday alternative
Osprey is once again replacing Black Friday with Green Friday, and fundraising to support the European Outdoor Conservation Association (EOCA) this year with a twist: Customers can decide which conservation projects they want to back. Running from Nov. 23-28, Osprey will offer a 20 percent discount on selected products to ...
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Article
Bike24 reports sales increase for complete bikes, PAC sales drop
As previously reported, the board of listed e-commerce bicycle retailer Bike24 Holding AG has adjusted and downgraded its previous full-year forecast “based on preliminary calculations for the third quarter of 2023.” The Q3 report, presented on Nov. 2, highlights the continued growth of its complete bike sales instead of declining ...
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News briefs
Patagonia collaboration brings repairs to the UK
Patagonia has once again teamed up with United Repair Centre, to open a new repair center in London, handling its UK repairs business. The newly-opened location is also in collaboration with the social enterprise, Fashion-Enter. The UK-based center is the second of its kind, with a repair center opened in ...
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Article
Garmin posts strong Q3 results
Bolstered by double-digit percentage growth in revenue, operating income and net income and record Q3 sales in four of five segments, Garmin reported a 12.9 percent increase in operating income to $270.4 million for the period ended Sept. 30 as net income came in 22.0 percent higher at $257.2 million ...
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Article
Vista Outdoor will prioritize debt reduction ahead of vote on Sporting Products divestiture
Vista Outdoor, which agreed in mid-October to sell its Sporting Products business to Czechoslovak Group a.s. (CSG) for an enterprise value of $1.91 billion, says it will continue to prioritize debt reduction ahead of a vote by shareholders to approve the sale. The company finished Q2 on Sept. 24 with ...
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Article
Arc’teryx announces partnership with Aluula Composites
Arc’teryx Equipment is partnering with composite materials manufacturer Aluula Composites to further develop Arc’teryx’s product offering using new and innovative ultra-lightweight fabrics. The two Canadian brands, based in North Vancouver and Victoria, BC, respectively, are committed to developing high-performance products for outdoor athletes and are culturally very similar. The Arc’teryx ...
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Article
Fenix Outdoor vows to spend more on marketing
Faced with still too much inventory but also high supply chain and product standards, Fenix Outdoor intends to dedicate more dollars to marketing, particularly in Germany and the US, to “explain to the [outdoor] consumers what we stand for,” commented Chairman Martin Nordin in a statement. In the ...
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News briefs
Globetrotter, Patagonia and Vaude triumph in German sustainability prize
Globetrotter, Patagonia and Vaude have triumphed in the 2023 German Sustainability Award (Deutscher Nachhaltigkeitspreis, or DNP). Globetrotter was nominated in the Sporting Goods Retailer (Sportartikeleinzelhandel) category, along with Bergzeit and Sport Conrad, for pioneers of sustainability in outdoor and sporting goods retail. Patagonia was nominated in the Sporting Goods category, ...
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Article
Swedish sports retail sales down 1.7 percent in Q3
The Sportindex, compiled by industry organization Svenskt Sportforum in collaboration with HUI, shows that Swedish sports retail sales fell 1.7 percent in the third quarter of 2023 – the seventh consecutive quarter of negative performance. A heat wave in September was a setback for sporting goods retailers as fall sales ...
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Article
VF abandons FY guidance, commences turnaround strategy
Admitting its U.S. business “isn’t working well” and its cost structure is too high, VF Corp. reported its Q2 results with a comprehensive plan to turn around its flagging businesses under CEO Bracken Darrell, who joined the group in late July. Key elements of the strategy focus on fixing its ...
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Article
Freudenberg launches new thermal insulation products
Freudenberg Performance Materials, a provider of innovative technical solutions in the apparel industry, is launching two advanced thermal insulation products – Down Feel WA 150LB and Fiberball WB 400LB – made from low-level Bisphenol A (BPA) recycled PET fibers (rPET). The new products are part of the global range of ...
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News briefs
Eurobike launches new shows in Istanbul and Jakarta
International cycling trade fair Eurobike is expanding to two new locations in 2024. The inaugural Eurobike Istanbul will open its doors on March 28, 2024, while Asiabike Jakarta will celebrate its debut in Indonesia from April 30 to May 4, 2024. Eurobike is organized by Fairnamic, a cooperative venture of ...