In an open letter to the sporting goods industry, PHIT America Founder Jim Baugh decried how top sports brands, the International Olympic Committee and many collegiate athletic directors are embracing the esports phenonom. He wrote, “Esports are tearing down the fabric of the sports industry and they represent short-term financial gains for companies that cater to these gamers. It’s like a money grab.”
Author: SGB Media
Authentic Brands Group Acquires Volcom From Kering
Authentic Brands Group (ABG) on Tuesday announced the purchase of the intellectual property of Volcom from Kering S.A., which bought the brand in 2011. Financial terms of the deal were not disclosed.
Amer Sports Takes Loan From Acquiring Investor Group
Amer Sports Corp. is borrowing €1.2 billion (US$1.4 billion) via an “intercompany facilities agreement” from Mascot Bidco Oy, the consortium of investors led by Chinese-based Anta Sports that is acquiring Amer.
New Balance Breaks Ground On New Athletic Complex In Boston
NB Development Group broke ground Tuesday on The Track at New Balance at Boston Landing, a multi-sport athletic complex that will offer sports facilities, as well as a concert venue with The Bowery Presents and a New Balance Athletics Sports Research Lab.
Arc’teryx Opens Brand Store In Guangzhou, China
Arc’teryx continues to expand in China with the opening of a new brand store in Guangzhou. The store is the brand’s 11th own retail location in China, and the first in the southern region (outside of Hong Kong).
Reebok Launches First Loyalty Program
Reebok launched its first loyalty program, Unlocked, featuring both experiential and product-based benefits.
Luna Bar Donates To Equal Pay For U.S. Women’s Soccer Team
Luna Bar, part of Clif Bar & Company, is giving each of the 23 women named to the 2019 U.S. women’s national soccer team $31,250, comprising the difference between the women’s and men’s World Cup roster bonus.
Garmin Completes Acquisition Of Tacx
Garmin Ltd. announced that it has completed the acquisition of Tacx Onroerend en Roerend Goed B.V., a privately-held Dutch company that designs and manufactures indoor bike trainers, tools and accessories, as well as indoor training software and applications.
NBA Opens Flagship In Beijing
The National Basketball Association (NBA) and Topsports, a leading sports retailer in China, together with Nike Inc., the official on-court apparel provider of the NBA, announced the opening of the largest NBA Store in China and the league’s largest store outside North America. The new retail space is located at the Intime Mall, Wangfujing in Beijing.
High Sierra Sees Flat Sales, Gregory Expands in 2018
Samsonite International S.A. reported that sales for High Sierra were flat in 2018 while sales for Gregory grew 12 percent.
Gildan Announces Board Of Directors Leadership Succession Plan
Gildan Activewear Inc. announced that its board of directors has approved the appointment of Donald C. Berg as chairman of the board effective May 2, 2019, contingent upon his reelection to the board at the company’s annual shareholder meeting to be held that day.
Top Shooting Guard Class of 2024 Jaylen Claggett
Jaylen Claggett will be at the Under Armour circuit this weekend playing for the New Jersey Bulldogs 2024 in Washington DC. His middle school won state tournament and went undefeated all year. Averaging 19 points a game and was named MVP in the final chip game scoring 23 points and hitting four three-pointers. Now AAU […]
Macy’s Names Dennis Mullahy Chief Supply Chain Officer
Macy’s Inc. on Monday announced that Dennis Mullahy has been named chief supply chain officer of the Macy’s brand, effective April 8, 2019.
Compass Diversified Holdings Promotes Pat Maciariello To COO
Compass Diversified Holdings on Monday announced the promotion of Pat Maciariello to COO of the company’s manager, Compass Group Management LLC, effective March 31
March M&A Roundup: JD Sports Adds To U.K. Portfolio
Though March was a slow month for M&A in the active lifestyle space, a handful of deals stood out, including JD Sports strategically shoring up its U.K. portfolio with the purchase of a rival retailer, BSN Sports continuing its acquisitive ways and CorePower Yoga being sold from one private equity firm to another.
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