MEC Tied For Top Place With Costco As Canada’s Most Trusted Brand
In a tie with Costco, the Gustavson Brand Trust Index recognized Mountain Equipment Company (MEC) as Canada’s most trusted brand. Other brands in the active lifestyle space that made the Index’s Top 50 most trusted brands were Columbia Sportswear at No. 3; The North Face, 12; Patagonia, 15; and Canadian Tire, the parent of SportsChek, 37.
Big Agnes Launches Canadian Website
Big Agnes launched a new website to service Canada’s active outdoor consumers. The Steamboat-Spring, CO-based outdoor equipment brand said that by launching a site for the region, it could support its wholesale partners with a dealer locator tool that helps consumers find gear at local retailers.
World Surf League CEO Exits
The World Surf League (WSL) announced that CEO Erik Logan had left the company, effective immediately, with no reason for his departure. As the WSL begins a search for a new CEO, Emily Hofer, WSL’s chief people and purpose officer, and Bob Kane, chief operating officer and chief legal officer, will jointly lead the company.
On Opens Store In Brooklyn
Swiss running brand On opened a store in Brooklyn’s Williamsburg neighborhood, marking its fourth retail location in the U.S. and its 23rd store globally. The company reported that future store openings are planned for Miami, Chicago, Austin, and Portland, OR.
Solo Stove Opens In-Store Experience In Polaris Public Lands Store
Solo Stove opened a permanent in-store product display at the Public Lands store in Polaris, OH, the outdoor specialty store owned by Dick’s Sporting Goods.
Kahtoola Names Marketing And Communications Chief
Kahtoola, the manufacturer of footwear traction and performance gaiters, hired Jimmy Hopper as director of marketing, brand development and communications, effective immediately.
L Catterton Sells Majority Stake In Cicli Pinarello
L Catterton reported selling its majority stake in Cicli Pinarello, the Italian manufacturer of road bikes, accessories and apparel, which it acquired in December 2016, to a “private family office.” The company did not disclose the terms of the transaction.
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.
Yamaha To Exit Snowmobile Business In 2025
Yamaha Motor Co., Ltd. announced plans to cease making snowmobiles by 2025 after 55 years in production. The company plans to end sales of snowmobiles in Europe through the 2024 model year and in North America through the 2025 model year, with Japan selling through its in-stock inventory.
EXEC: American Outdoor Brands Eyes Return To Growth, Potential For $400 Million In Revenue
America Outdoor Brands said it strengthened its balance sheet, generated significant operating cash flow, controlled costs, and continues to invest for its long-term growth but full-year net sales were $191.2 million, a decrease of 22.8 percent, compared with the prior year and an increase of 14.2 percent over pre-pandemic fiscal 2020.
Koroyd Grows HQ With New Hires, Innovation Investment and Brand Relaunch
Koroyd, the maker of advanced impact protection technology, headquartered in Monoco, relocated and expanded its headquarters, added new hires, relaunched its brand messaging, and reported category growth in significant markets for the brand.
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.
Trek Recalls Certain Promax Hydraulic Disc Brakes Sold On Trek Bicycles
Trek Bicycle Corp., in cooperation with the U.S. Consumer Product Safety Commission (CPSC), is recalling Promax hydraulic disc brakes sold on Trek Bicycles. The brake hose can detach from the brake lever, posing a crash hazard.
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.
