Online retailer Tennis-Point, formerly owned by Signa Sports United, has been acquired by Fromuth Racquet Sport. In the short term, Tennis-Point will be operated as a separate business and keep its name and contact details.
Category: Apparel
Walmart Targets Gen-Z with ‘No Boundaries’ Relaunch
Launching in stores and on Walmart.com on July 16, the new No Boundaries label, often abbreviated as “NOBO,” will include a broader assortment backed by a major marketing push on TikTok, Roblox and Instagram and, for the first time, has a dedicated fashion design team creating the collection.
EXEC: Nike’s Valuation Dips Again in Kantar’s 2024 Most Valuable Brands Study
Nike retained its No.1 brand position in apparel in Kantar Brand’s “Most Valuable Global Brands Report” for 2024 but its valuation fell for the second year in the row while big gains were marked by Zara, Lululemon, Adidas, Uniqlo, and H&M.
Cocona Labs Finalizes China WFOE Incorporation
The company is now a wholly foreign-owned enterprise (WFOE) in Shanghai, China. With a growing percentage of Cocona’s yearly revenue attributed to Chinese brand customers, the market is a “critical component for success.”
Paka Opens Flagship in Peru
Paka Apparel, maker of sustainable clothing using fully traceable alpaca wool from wild-roaming alpaca in Peru, opened its first store in Cusco, Peru.
Revolve To Open First Permanent Store In Aspen
The store opening “supports Revolve’s broader strategy to blend online and offline shopping, giving customers more touchpoints” and follows the company’s “successful” pop-up shop the company opened in the same location in December 2023.
Numerator: Consumer Confidence Held Steady in May
Consumer confidence was about flat compared to April, with 41 percent of consumers very or somewhat comfortable spending money on discretionary purchases.
Report: Under Armour to Begin Move into New Headquarters in November
The space will also include a two-story, 30,000-square-foot Under Armour Brand House store and a two-story, 30,000-square-foot fitness performance center.
Momentec Brands Names Chairman, CFO and SVP of Product Development
Formed out of the merger of Augusta Sportswear Brands and Founder Sport Group, Momentec Brands appointed David Baxter as chairman, Mike Moore as chief financial officer, and Joel Bennink as SVP of product development. Most recently, Baxter was the president of Under Armour for the Americas Region. Bennink spent 13 years at Under Armour, where he led the growth and development across Team, Golf and Curry-branded apparel.
Delta Group President Resigns
Delta Apparel said in a regulatory filing that Matt Miller, president of Delta Group, the company’s largest segment, had submitted his resignation. Miller’s exit follows Delta’s announcement on May 31 that longtime Chairman and CEO Robert Humphreys will resign from his role with the company, effective June 29, at the request of Delta’s independent board directors.
Lululemon Financial’s SVP Appointed Figs’ CFO
The medical apparel brand hired Sarah Oughtred, Lululemon’s SVP, financial planning & analysis since 2021, as its chief financial officer.
PetSmart Goes for the Gold with Team USA Collection for Dogs
The limited-edition stars, striped and sporty collection for soccer, karate and basketball, also features tracksuits, hats and gold medal toys for pets to show “team pride in style.” PetSmart Doggie Day Camps will host a one-day-only Team USA-themed Doggie Day Camp experience on August 8, 2024, to celebrate and support Team USA.
Super Retail Names New Chair to Replace Sally Pitkin
Super Retail Group, which owns Rebel, Supercheap Auto, BCF and Macpac in Australia, appointed Fonterra executive Judith Swales as its new Board chair replacing Sally Pitkin, who will retire from the Board after the company’s October annual general meeting.
EXEC: Academy Sports Talks Push for Better Footwear Allocations
Steve Lawrence, CEO at Academy Sports, elaborated on the retailer’s efforts to improve access to better product from its footwear vendor partners and secure new brands, including Hoka and On.
Tommy Bahama Parent Sees Q1 Sales Decline
Continued choppiness in the market and lack of sustained positive momentum, coupled with the drop in consumer sentiment, led Tommy Bahama parent to take a more conservative outlook for the balance of the year, lowering its fiscal 2024 sales and EPS guidance.
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