The United States Trade Representative (USTR) announced Friday that the U.S. would not initiate Section 301 Tariffs of up to 25 percent on Vietnamese imports in response to currency manipulation. A USTR investigation, launched in October 2020, found Vietnam intervened in foreign exchange markets using excessive and...
Asics has taken an unspecified stake in healthcare startup, Japan HealthCare Co., Ltd., which makes custom insoles working from photos of feet taken by smartphone. The acquisition was made through Asics Ventures, the brand’s investment subsidiary. Japan HealthCare was founded in June 2017 by Daichi Okabe who...
Wolverine Worldwide raised its full-year guidance after second-quarter results easily topped Wall Street targets. All-time record quarterly revenue for Merrell and Saucony drove consolidated revenue growth of 81 percent compared to 2020 and 11 percent versus 2019. “With record revenue in the second quarter and demand...
Columbia Sportswear Company released its 2020 Corporate Responsibility Report, which includes performance highlights and progress made throughout 2020 in the three main areas of focus in its corporate responsibility strategy – empowering people, sustaining places and responsible practices. “Throughout the year, we remained true to our...
The U.S. Senate passed legislation on Wednesday to ban the import of products from China’s Xinjiang region unless importers can prove they were not made with forced labor. The move marks the latest effort in Washington to punish Beijing for what U.S. officials said is...
SFIA, OIA, SIA, FDRA, and AAFA were part of 76 trade associations that sent a letter to U.S. Trade Representative Katherine Tai urging the Biden administration against adding more 301 tariffs and, instead, use other tools, such as financial diplomacy led by the Treasury Department,...
Burlington Stores Inc. announced that Travis Marquette has been appointed as the company’s new president and chief operating officer, overseeing and managing the company’s stores, real estate, supply chain, and information technology functions. Marquette is expected to begin working in his new position on/before October...
Crocs Inc. announced its commitment to becoming a net-zero company by 2030. It said that its Classic Clog already has a low carbon footprint. To achieve its 2030 goal, Crocs is focused on sustainable materials, packaging, investments in resource use, and innovative product afterlife solutions to...
Nordstrom and Asos announced that Nordstrom has acquired a minority interest in the Topshop, Topman, Miss Selfridge, and HIIT brands. This investment will help drive the growth of these brands globally. The partnership is expected to involve extensive collaboration and alignment ro “redefine the traditional retail/wholesale...
Keen Inc. announced the opening of a company-owned factory, in the Dominican Republic—Keen Dominican Republic (KDR)— with 55,000-square-feet of manufacturing space. The factory, located in Santiago. will produce its footwear, led by the Newport H2 sandal, and capable of turning 500,000 pairs a year beginning 2021....