Through a transformational pivot to operating as a DTC-first company, Levi Struss & Co. is narrowing its focus to realize the full potential of the Levi’s brand as well as accelerate Beyond Yoga.
Category: Sports/Fitness
PrimaLoft Beefs Up Product Team
PrimaLoft, Inc. appointed Chris Gallo as senior vice president of product strategy and Andrea Paulson as senior vice president of innovation and technology. Gallo was most recently at Nobull while Paulson was at Saucony.
EXEC: Rip Curl and Oboz Parent Taps Former Nike Exec as New CEO
The parent company to the Rip Curl, Oboz and Kathmandu brands has named former Nike executive and current KMD Board member Brent Scrimshaw as its new group CEO. Michael Daly has given notice to the Board of his resignation.
EXEC: Basic-Fit Sees Top 20 Investor Pressure Board to Sell Fitness Company
Buckley Capital Management, LLC and its affiliates are confident that there is significant interest from private equity, and implored Basic-Fit’s management and the Board to initiate a strategic review process.
Compass Diversified Acquires Lifoam Industries
Compass Diversified announced that its subsidiary, Altor Solutions, a manufacturer of custom protective and cold-chain packaging solutions for the industrial and life sciences markets, completed its previously announced acquisition of Lifoam Industries, LLC.
EXEC: Nike Signals Uphill Struggle as New CEO Settles In
On Nike’s first-quarter analyst call, Matt Friend, EVP and CFO, said Nike is finding success with some new products, particularly in running, and the hiring of Nike veteran Elliott Hill as CEO was enthusiastically received by Nike’s employees. However, he warned that business conditions worsened in the quarter with online traffic, retail sales across the marketplace and spring orders all coming in lighter than planned.
EXEC: U.S. Now Largest Region for JD Sports; Finish Line Banner to Retire
The parent of the JD, Hibbett, Finish Line, DTLR, and Shoe Palace retail brands in the U.S. and JD and others worldwide saw revenue grow 5.2 percent to £5.03 billion in the first half, including £61 million from 10 days of Hibbett sales.
New York Sports Club Hit by Data Breach
New York Sports Club notified 19,836 individuals, believed to be all employees, that their personal data was stolen due to a data breach.
Nike Crushes Q1 EPS Targets, Warns of Guidance Adjustment
Nike Inc. reported earnings for its first quarter handily topped Wall Street targets, but said it was postponing its upcoming Investor Day and indicated it “would address its approach to guidance” on its quarterly analyst call in light of the appointment of Nike veteran Elliott Hill as CEO. Sales in the quarter were down 10 percent with declines of 13 percent in direct and 8 percent in wholesale channels.
Pvolve Studio to Add Third Location in SFO Bay Area
Local entrepreneur Venetia Vonich, teamed up with friend and business partner Lupita Romero to expand the company’s reach in the San Francisco Bay area.
Nordstrom Rack to Open New Store in Massachusetts
The 25,000-square-foot Nordstrom Rack will open in the fall of 2025 in the The Landing at Hyannis. Nordstrom operates seven Nordstrom Rack stores in Massachusetts, generating over 900 jobs statewide.
Authentic Names Brand Partners Supporting Champion Brand
Authentic Brand Group announced that GearCo, BBC and AMG Companies will serve as its primary vendor partners supporting its just-closed acquisition the Champion brand.
Sports Licensing Company, Homage Apparel, Taps Into Celebrity Investors
The round kicked off with an initial investment from Ryan Reynolds’ venture firm, Maximum Effort, that was recently complemented by investments from Winnie Capital, led by former NFL star Jason Kelce, and 35Ventures, led by Kevin Durant and Rich Kleiman.
Score Sports Expands Partnership with Babe Ruth League Baseball
Eli Manning, two-time Super Bowl Champion and Score Sports investor, said “My brothers and I competed in everything growing up, and we especially cherished our time on the baseball field and being a part of the Babe Ruth community. Now, through my involvement with Score, it’s great to see things come full circle.”
Rawlings Sporting Goods Sets CEO Transition Plan
Mike Zlaket, Rawlings’ current CEO, will transition to vice chairman of the company’s Board at the close of the year. Current company president Ron Ostrowski will add CEO to his duties, effective January 1, 2025.
SGB Today
Active Lifestyle Market Product and Brand Marketing Stories from SGB PRO PR and SGB Premium PR Partners
Post your Product or Marketing News in the SGB PR Portal