PrimaLoft Promotes Cavassa to CEO, Joyce to Retire
Compass Diversified appointed Anne Cavassa as CEO of its subsidiary, PrimaLoft Inc., effective January 1, 2024. This move follows Cavassa’s recent appointment as president and as former president and CEO, Mike Joyce, steps into retirement at year end.
RW Designs Acquired by Platinum Equity
Rainbow West Apparel (RW Designs), a private label house, was acquired by Platinum Equity portfolio company Hop Lun, a Hong Kong-based designer and manufacturer of undergarments and swimwear.
SFIA names Chief Operating Officer
The Sports & Fitness Industry Association hired Glenn Horine as chief operating officer, effective January 1, 2024, reporting to SFIA president and CEO Tom Cove.
Study: Retailers See Big Online Sales Declines After Closing Brick & Mortar
ICSC found that closing a store reduced online sales in the trade area surrounding that store by 11.5 percent. For emerging retailers, there was reportedly less of an impact, as online sales for largely DTC brands that closed a store decreased by 5.2 percent.
Asics Sells Haglöfs to PE Firm
Asics reported that it sold Swedish outdoor brand Haglöfs AB to the Hong Kong fund LionRock Capital, which acquired 100 percent interest in the company. Terms were not disclosed.
Nordstrom Rack to Open Store in Omaha
Nordstrom announced plans to open a new Nordstrom Rack in Omaha, NB in fall 2024, representing the company’s first store of any kind in Nebraska.
Gildan Investor Wildfire Spreads as More Firms Join the Call to Reinstate CEO
Anson Funds and Anson Advisors is the latest to express disappointment with the Gildan Board and voiced concerns over the Board striking a backroom deal with an Individual shareholder in exchange for support rather than engaging with investors troubled by poor succession planning.
Study: The Retailers Getting the Most Online Benefit from New Stores
According to the analysis of the ICSC’s survey of 850 shoppers, department stores had a 50.6 percent increase in online spending, followed by apparel retailers with an 11.6 percent increase in e-commerce sales.
EXEC: Authentic’s Reebok Europe Partner Acquired by Korean Retailer
Coupang, Inc., a Korea-based global retailer, reported plans to acquire the business and assets of online luxury retailer Farfetch, Authentic’s partner chosen to manage Reebok in Europe.
Golden Goose Aims to Raise $1.1 Million in IPO
Golden Goose is seeking to raise about €1 billion ($1.1 billion) from an Initial Public Offering (IPO) in Milan.
Gildan’s Ousted CEO Denies Giving M&A Ultimatum to Directors
Glenn Chamandy, the former CEO of Gildan Activewear Inc., issued a statement denying media reports that he gave an ultimatum to the activewear company’s board regarding strategy or potential acquisitions. He also denied that he was involved in succession planning.
VF Corp. Data Breach Impacting Ability to Ship Orders
The company detected a cybersecurity breach in its systems on December 13 that is “reasonably likely to continue to have a material impact on the company’s business operations,” including its ability to fulfill online orders.
EXEC: Former Giants Star Carl Banks Plots Starter’s Comeback for G-III Sports
Starter, the U.S. apparel manufacturer whose satin jacket was once a fixture in the 1990s on pro team sidelines and music videos, is readying a large-scale comeback with the help of nostalgia, on-trend product and expanded rights with major league teams. Carl Banks, president of G-III Sports, talked with SGB Executive about the brand’s resurgence.
Jordan Brand President Joins Albertsons Board
Albertsons Companies, Inc. reported that Sarah Mensah, president of the Jordan Brand for Nike, Inc., had joined the supermarket chain’s Board of Directors.
Coliseum Capital Co-Founder Joins Gildan Board; Firm Plans Further Investment
After a week of turmoil at Gildan Activewear Inc. with the ouster of company Founder and CEO Tom Chamandy, and pushback from at least two large investors, Gildan found support elsewhere on Monday, announcing a support agreement with Coliseum Capital Management, LLC.
