Rhone Secures New Investors
Rhone, the men’s activewear and lifestyle brand, formed a new consortium of investors, including Blackstone executive and ex-football star Tim Tebow, to buy out the approximately 29 percent stake in the company owned by private equity firm L Catterton.
MEC Appoints New CEO
Canadian outdoor gear retailer MEC promoted COO Peter Hlynsky to CEO, succeeding Eric Claus, who led the retailer during the filing for creditor protection and sale to U.S.-based private investment firm Kingswood Capital Management.
EXEC: Columbia Sportswear Sees Rocky Road Ahead for Wholesale Business
The company is forecasting a low-double-digit percent decline in wholesale net sales in first half 2024. The company added that it expects the wholesale net sales decline will be partially offset by continued growth in the global DTC businesses.
New Balance Appoints Director, Global Apparel Planning
New Balance promoted Stephen Butch to director of global apparel planning, effective immediately. He has worked for New Balance since 1995, starting as a sales associate in the brand’s Boston factory outlet store.
Authentic Expands Deal With Shein for Forever 21
Authentic Brands Group signed a long-term agreement with the Chinese fast-fashion giant Shein to produce a co-branded clothing line with Forever 21. The collaboration follows Shein’s move in August to acquire about a third of Forever 21′s operator, Sparc Group, with plans to explore new ways to reach customers.
Report: Golf Apparel Sales Decline for Third Straight Month in September
Galk Datatech is reporting that golf apparel sales were down in on-and off-course specialty stores for the third consecutive month in September, falling 3.7 percent after declining 3.5 percent in August and a 3.6 percent decrease in July.
EXEC: Deckers Delivers Blowout Q2 as Hoka Takes Lead in U.S. Run Specialty
Deckers Brands hiked its annual guidance as results for its fiscal second quarter ended September 30 were boosted by an robust recovery at Ugg. However, Hoka’s momentum showed no signs of slowing down with Deckers’s officials telling analysts the brand has become the leading footwear seller in the U.S.-run specialty channel.
Fleet Feet Acquires Ultra Running Company
Fleet Feet expands its retail footprint further with the acquisition of Charlotte, NC-based Ultra Running Company. The store was rebranded to Fleet Feet Charlotte–Myers Park.
Under Armour’s Curry Brand Signs First NBA Athlete
Under Armour Inc. announced that Sacramento Kings point guard, De’Aaron Fox, has signed as the first signature athlete with its Curry Brand under a multi-year partnership.
Columbia Sportswear Expects Sharp Decline in Q4 as Pull-Ahead Orders Boost Q3 Sales
Net sales are now expected to increase 0.5 percent to 2.0 percent for 2023, down from the previous range of 2.0 percent to 3.5 percent growth. Fourth quarter net sales are expected to decline 10 percent to 5 percent and the company is also forecasting a low-double-digit percent decline in wholesale net sales in first half 2024.
Linksoul Releases Kids Collection
Linksoul, the golf gear and apparel manufacturer, launched into kidswear with its Linksoul Kids Capsule Collection.
EXEC: Moncler S.p.A’s Q3 Sales Climb 7 Percent
Moncler S.p.A reported sales reached €669.7 million ($706 mm in the third quarter, up 7 percent on a currency-neutral basis compared with the same period of 2022. On a currency-neutral basis, Moncler Brand sales were up 9 percent while Stone Island sales were flat.
On Brand Opens Miami Store
Swiss-running brand On opened a store in Miami, marking the company’s continued retail expansion and fifth store in the U.S.
EXEC: Li Ning Sees Q3 China Retail Sales Comp Down Mid-Singles
In terms of channels, the retail channel registered a mid-single-digit increase and the wholesale channel registered a low-teens decline; while its e-commerce virtual stores business registered a low-single-digit decline on a year-over-year basis.
Moody’s Confirms Vista Outdoor’s Debt Ratings On Ammo Business Sale
Moody’s Investors Service confirmed the debt ratings of Vista Outdoor, Inc. following the proposed acquisition of the company’s Sporting Products business by the Czechoslovak Group for $1.91 billion.
