Authentic Brands Raises $500M In Funding From General Atlantic
Authentic Brands Group has raised $500 million from its existing investor General Atlantic, bringing the private equity firm’s investment in the apparel chain operator to nearly $2 billion. The funds will be used to accelerate growth.
REI To Open A Store In Durango
REI Co-op announced it intends to open a retail store in Durango, CO, in spring 2025; this would be the retailer’s tenth store in the state.
KPMG Sees Back-To-School Spending Climbing 21 Percent
Back-to-school shoppers expect to spend, on average, $377 per child, 21 percent more than a year ago, ranging from $212 per preschooler to $640 for a first-year college student, according to KPMG’s 2023 Back-to-School Spending survey.
JLL Survey: Back-To-School Spending Expected To Rise 15.7 Percent This Year
According to JLL Retail Advisory’s back-to-school survey of more than 1,000 parents of school-aged kids, planned back-to-school spending will rise 15.7 percent. The company found that more than half of the parents have budgeted more this year to accommodate higher retail prices.
Report: Backcountry.com Could Land On Selling Block
TSG Consumer Partners is exploring options for Backcountry.com, including a potential sale, according to a report from Bloomberg.
KOA, Holo Footwear Announce Multi-Year Partnership
Kampgrounds of America, Inc. (KOA) and Holo Footwear announced a collaboration on a footwear line. The limited-edition KOA x Holo camp shoes will launch at Nordstrom in August.
Under Armour Makes Senior Leadership Changes
Under Armour reported the company made senior leadership changes, including hiring Marriott veteran Jim Dausch as EVP, chief consumer officer, effective July 24, and promoting Danny Miles to EVP, chief technology officer. Effective July 3, Dan Leraris, UA’s head of apparel, will begin serving as the company’s interim CPO.
L Catterton Appoints Peter Chang As Managing Partner
L Catterton, the consumer-focused investment boutique, hired Peter Chang as managing partner and co-head of Private Credit. With Shahab Rashid, Chang will co-lead the firm’s direct lending strategy.
Signa Sports’ Fiscal Q2 Revenues Slide 24 Percent
Signa Sports United N.V. (SSU) reported a wider operating loss in the fiscal second quarter ended March 31 as sales dropped 23.5 percent. The Berlin-based owner of numerous e-commerce sites focused on tennis, outdoor, and team sports said the results reflect continued weak demand versus pre-pandemic levels and “severely elevated” inventories across the marketplace.
REI Names Controller And VP Of Distribution And Fulfillment Operations
REI Co-op promoted Michelle Kirkpatrick to vice president, controller and Ruchi Christensen to vice president of distribution and fulfillment operations.
Vans Names Global Chief Marketing Officer
Vans announced that Drieke Leenknegt had joined the company as global chief marketing officer, effective July 5. Leenknegt joins Vans from its sister brand, Timberland, where she served as its global chief marketing officer.
Reima North America Hires Wholesale Experience Manager
Reima North America hired Kelly Buck as the company’s wholesale experience manager. Reima said this strategic addition to the team is a testament to its commitment to delivering excellent service and expertise to its valued wholesale customers.
Golf Rounds Played Surge In May
Rounds of golf played in May jumped by 10.0 percent on a national level year-over-year and are now running up 5.5 percent for the first five months of 2023, according to Golf Datatech.
SportsShoes.com’s Q1 Sales Climb 20 Percent
U.K.-based SportsShoes.com reported revenues increased 20 percent in the first quarter ended May 31 to £83.8 million ($107 mm).
Report: Asics Cutting Ties with Smaller U.K. Specialty Retailers
Independent sports retailers in the U.K. are reportedly reeling from a move Asics Corp. is making to narrow its distribution in the region. In a recent article published by The Guardian, Asics was said to be “cutting off supply to hundreds of small U.K. outlets…”
