Allbirds, the San Francisco-based casual footwear and sneaker maker, raised $100 million in financing in a funding round that valued the company at $1.7 billion, according to a report in the Wall Street Journal. The Series E funding was led by Franklin Templeton and will be...
Nordstrom, Inc. announced the company will stop selling products made using animal fur or exotic animal skin by the end of 2021, becoming the first major U.S. retailer to make the commitment. The new companywide policy includes Nordstrom, Nordstrom Rack and Last Chance stores, as well as Nordstrom’s e-commerce sites. The commitment...
Adidas successfully placed its first sustainability bond as the company continues to execute on its long-term sustainability plan while optimizing its capital structure and financing costs. The €500 million bond has a term of 8 years and a coupon of 0.00 percent. It will be listed...
Holiday retail sales are likely to increase between 1 percent and 1.5 percent, according to Deloitte’s annual holiday retail forecast. Overall, Deloitte’s retail and distribution team project that holiday spending will result in sales between $1,147 billion and $1,152 billion during the November-January timeframe. Deloitte also...
Nike has partnered with We Coach, an organization that embraces recruitment, advancement and retention of women coaches in sports, on a new Made to Play Coaching Girls Guide to “help make sport fun for girls.” Nike and We Coach provide additional support from Youth Sport Trust...
Asics EMEA announced the launch of the Asics Tennis Academy, a virtual community platform that gives tennis coaches access to advice and training from industry experts. Asics noted that independent research shows that 90 percent of tennis players rely on their coaches for advice and recommendations...
Robert W. “Bob” Gore, chairman emeritus of the board of directors of W. L. Gore & Associates and the inventor of Gore-Tex outerwear, passed away on September 17 at the age of 83. Gore assumed the chairman emeritus role in 2018 after 57 years of service...
Nike Inc. reported sales were down 1 percent in the first quarter ended August 31 but topped Wall Street’s targets as digital growth grew 82 percent. Earnings were up 10 percent and far ahead of analyst estimates. Quarterly Highlights First-quarter reported revenues were $10.6 billion, down...
Goat Group, the online marketplace for sneakerheads, closed a Series E funding round of $100 million from D1 Capital Partners. Founded in 2015 as a sneaker re-seller, the company has expanded into apparel and accessories from select emerging, contemporary brands. The added capital will accelerate the...
Josh Luber, the co-founder of StockX, is leaving the company a little over a year after he stepped down as CEO. The June 2019 announcement of Luber’s transition from CEO was concurrent with StockX’s $1 billion-plus valuation. He was replaced at the time as CEO by...