Outdoor Voices, an women’s activewear brand, announced that it has raised a new round of funding from NaHCO3, the investment management platform of fashion and retail entrepreneur Ashley Merrill. In conjunction with this equity investment, Merrill has joined Outdoor Voices’ Board of Directors as chairwoman.
Author: SGB Media
Retail Reports Roundup
Retail surveys and studies that arrived last week explored how COVID-19 has impacted Millenials and GenZ shoppers and their openness to discovery — as well as international expansion and changing organizational work structures during the pandemic.
Fitlight Signs WNBA All-Star As Ambassador
Fitlight, the wireless athletic training system driven by light sensors, signed WNBA All-Star Erica Wheeler as an official brand ambassador.
Wall Street Reacts: Nike’s Q420
While Nike missed earnings targets in the fiscal fourth quarter by a wide margin and elevated inventories remain a concern, analysts were encouraged about the brand’s positive online sales momentum and the resumption in growth in China. Most applauded Nike’s move to accelerate its digital transformation and heighten its focus on women’s and apparel. Insights from Piper Sandler, Jefferies, Susquehanna, Baird and Goldman Sachs.
Lululemon To Recruit Head Of Global Diversity Equity And Inclusion
Lululemon plans to hire a head of global diversity equity and inclusion as part of a number of steps to increase diversity across its workforce. The retailer will also provide an additional U.S.$3 million to its social impact program, Here to Be, for a total of U.S.$7 million in 2020.
Tactical Solutions Hires New National Sales Manager
Tactical Solutions has hired a new national sales manager. Cody Bennion comes to Tactical Solutions with 19 years of sales experience from a variety of industries.
VF Plans Re-Org To Support Greater China, Emerging Brands Growth
VF plans to hire its first president, Greater China. Kevin Bailey, executive vice president & Group President, APAC, will continue leading the Asia Pacific Region but will relocate to Denver, CO where he will also assume leadership of the company’s Emerging Brands platform including Altra, Eagle Creek, JanSport, and Smartwool brands as well as Kipling and Icebreaker brands in the Americas Region.
Under Armour Looking To End 15-Year Deal With UCLA
Under Armour has officially informed UCLA Bruins Athletics of its intent on terminating its record apparel deal signed in 2016. UCLA officials have vowed to fight UA’s move.
Remington Prepares For Another Bankruptcy, Sale To Navajo Nation
Remington Outdoor Company, the firearms maker, is preparing to file for bankruptcy and is in advanced talks on a sale to Navajo Nation, sources told the Wall Street Journal.
Nike To Undergo Layoffs In Digital Push
Nike in a letter to employees warned of layoffs as the company shifts resources to invest in high-potential growth opportunities, including digital.
USA Triathlon Foundation Awards $110,000 In COVID-19 Relief Fund Grants
The USA Triathlon Foundation announced the grant recipients for the COVID-19 Relief Fund, established in April, to support members of the multisport community who have been impacted by the virus. More than $110,000 will be dispersed to 40 organizations and individuals.
ABG To Change Name Of Its Gravel, Mountain Bike Brand
American Bicycle Group (ABG) announced that it will change the name of its gravel and mountain bike, currently branded Ocoee. The name will be changed out of respect for the African American lives lost in the 1920 Ocoee (FL) Election Day lynching and burning of the community.
Deckers Brands Appoints Independent Director
Deckers Brands announced the appointment of Victor Luis to its Board of Directors. Coinciding with this appointment, Deckers also announced that James Quinn has resigned from its Board.
Kanye West Teams With Gap
Kanye West and Gap Inc. announced a 10-year plan to bring a Yeezy Gap apparel line to Gap stores and Gap.com in 2021. Yeezy footwear, made by Adidas, will not be sold at Gap stores.
Golf Rounds Played Bounce Back In May
Golf rounds in May recovered to show a year-over-year gain of 6.2 percent as golf courses reopened across the country according to Golf Datatech. For the year-to-date period, rounds played are down 8.0 percent.
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