SGB 2024 Year In Review: Active Lifestyle M&A – Part One
While the active lifestyle industry again saw a number of smaller to medium-size acquisitions during 2024, major deals for the second year in a row were few and far between due to a combination of higher interest rates, an uncertain economy, and fewer consolidators. A roundup of M&A action in the industry for the first half of 2024.
EXEC: New Nike Inc. CEO Lays Out Pain Points Ahead and Plans to Re-Focus on Sport
The new CEO did not ride in on a white horse or a chariot as a conquering hero, but as a janitor, not unlike Mr. Earl, who realizes he has a big job to do but also has a clear mind on what must be done.
EXEC: Nike’s NA Q2 Footwear Down 14 Percent; Reduces Classics Share of Business
In North America, Nike Direct declined 15 percent, with Nike Digital down 22 percent and Nike stores down 3 percent.
Wholesale declined 1 percent. Nike said it took another step forward shifting the product portfolio by reducing the proportion of our business driven by the Classic Footwear franchises.
EXEC: Nike Inc. Q2 Reaction May Be More About the CEO’s Plan – Not Key Metrics
That plan has to include boosting innovation in a market that has embraced On, Hoka and a number of other nascent running brands that have taken share in the “technology as fashion” column, as well as brands such as Adidas and Asics that are taking share on the lifestyle side.
EXEC: Bata Brands Appoints Italy-Based Chief Design Officer
Miguel Esquide’s career highlights include co-founding the luxury brand 1Concept as well as leading footwear design and strategy at Inditex for Lefties, Zara and Pull&Bear.
EXEC: UK Retail Sheds 225,000 Jobs in Five Years but Pay Growth Up 25 Percent
Pay growth at retail was said to be well above the national average at 8.5 percent in 2024, and up over 25 percent since 2021. The October Budget increases the National Living Wage by a further 6.7 percent, adding over £2.7 billion to retailer wage bills from April 2025.
EXEC: Clothing and Footwear Are Key Contributors to UK’s Growing Inflation
November’s figures were driven primarily by increased inflation rates of fuel, clothing, and footwear, according to the British Retail Consortium (BRC).
EXEC: Rapala VMC Names Cyrille Viellard Next President and CEO
Current President and CEO Lars Ollberg will retire on March 6, 2025. He has worked for the company for over 45 years. Incoming President and CEO Cyrille Viellard, who has worked at Rapala VMC since 2014, will assume the CEO role on March 7, 2025.
EXEC: Smartwool and Icebreaker Consolidate Distribution in Benelux
Smartwool has appointed Ideavelop BV as its exclusive distributor for the Belgium, the Netherlands and Luxembourg building on a 25-year relationship with VF Corporation sister brand Icebreaker.
EXEC: Radek Musil Ascends to CEO Role at Colt CZ Group
The Group will separate the company’s CEO and Chairman of the Board of Director roles effective January 1. Jan Drahota will continue as chairman of Colt CZ, and Radek Musil, the CEO of Sellier & Bellot, will become the new CEO of Colt CZ.
EXEC: The Athlete’s Foot Opens Store in Rotterdam
TAF said the retail space represents a new “TAF 3.0” concept that has been “successfully tried and tested in the USA, now tailored to meet the unique cultural landscape and consumer demands of Rotterdam.”
EXEC: Perfect Moment Opens First Seasonal Store in Austrian Alps Ski Resort
The establishment of the Kitzbühel store, the fashionable winter ski resort in the Austrian Alps, follows the October opening of the company’s first seasonal retail location in New York City’s SoHo neighborhood.
PwC’s 2025 M&A Outlook Sees Arrows Pointing Up for Deal Flow
PwC’s analysis of PitchBook Data, Inc., found that several thousand PE exits were delayed over the past two years. The company said some of these exits are more likely to happen now that more certainty has returned to the market — meaning more potential targets for corporate acquirers.
EXEC: Giant Group’s 2024 Trend Degrades Further as November Sales Fall 16 Percent
The Taiwan-based bike manufacturer saw its 11-month year-to-date (YTD) sales trend fall further in November after mid-single-digit declines in October and September.
EXEC: Roots Sees Solid Q3 Growth Continuing into Fourth Quarter
Roots Corporation reported that total fiscal third quarter sales were CN$66.9 million for the 13-week period ended November 2, a 5.3 percent increase as compared to CN$63.5 million in Q3 2023, led by double-digit growth in P&O sales.
