Authentic Brands Group (ABG) last week submitted an offer of around $1 billion to acquire Reebok from Adidas, according to the New York Post. ABG reportedly plans to partner with Wolverine World Wide, the parent of Saucony, Merrell and Sperry, on the bid. The offer, according...
Wolverine World Wide Inc. lifted its annual guidance after reporting adjusted earnings grew 45 percent in the first quarter on a 16 percent sales gain. Merrell revenue grew nearly 25 percent, and Saucony revenue was up nearly 60 percent. “We believe 2021 will be a breakthrough...
Adidas’ Supervisory Board extended the appointment of Executive Board member Martin Shankland, responsible for Global Operations, by five years beyond 2022 until 2027. Martin Shankland has been a member of the Executive Board of Adidas AG since 2019. “I am very pleased to announce that Martin’s appointment...
Asics Corporation reported sales rose 24.8 percent in the first quarter. Sales in the North America region rose 20.1 percent on e-commerce gains and the region returned to profitability. Companywide, sales reached ¥106,549 million against ¥85,341 million a year ago. Asics said that despite the effects...
Puma has appointed Hubert Hinterseher as its new chief financial officer and Arne Freundt as its new chief commercial officer starting June 1. Hinterseher has been with Puma for 16 years, most recently as the global director of financial controlling. As CFO, he will be responsible for...
Allbirds, the San Francisco-based casual footwear and sneaker maker, is in the process of interviewing banks in preparation for an initial public offering (IPO) according to a report in The New York Times DealBook. The direct-to-consumer brand, a certified B Corp, was last valued at roughly $1.7...
Sequential Brands Group Inc. announced that it has closed on the sale of its Heelys brand to BBC International for $11 million in cash proceeds. BBC had been licensing the Heelys’ brand from Sequential Brands since 2013. The partnership came soon after Sequential Brands acquired the...
Nike ranked as the world’s most valuable apparel brand for the seventh consecutive year, although the brand value was down 13 percent to US$30.4 billion, according to the Brand Finance Apparel 50 2021 report. Nike still maintains a considerable lead over second-ranked Gucci, with a brand...
Foot Locker Inc. released its Impact Report, which describes the company’s efforts to advance its environmental, social and governance (ESG) priorities. “As a purpose-driven organization, Corporate Social Responsibility is not a separate mandate for our business. Instead, it is embedded in our fabric and fuels our...
U.S. consumer confidence in March climbed to a one-year high, after a modest increase in February, as Americans grew more upbeat about the economy and labor market. The Conference Board’s index increased to 109.7 from a revised 90.4 reading in February. That was the sharpest one-month...