SGB Update Footwear
Sports Direct Owner Acquires Luxury Website
Frasers, the U.K.-based parent of Sports Direct, has acquired Coggles, an online seller of designer fashion, from THG as part of a multi-year partnership that also includes Frasers using THG’s technology in some parts of its business.
Nike Faces Shareholder Lawsuit Over DTC Strategy
A Nike, Inc. shareholder has filed a securities class action in the District of Oregon’s Portland division, claiming the company misled investors about the financial effects of prioritizing direct-to-consumer sales. Plaintiffs are seeking class-action status, an unspecified amount in damages and a jury trial.
Report: Retail Sales Show Signs of Stabilization in May
The latest report from Circana reveals that U.S. retail sales, encompassing discretionary general merchandise and consumer packaged goods (CPG), have experienced a 1 percent growth, with consumers adapting their spending habits in response to moderating price pressures.
Athleta Hires Former Nike Exec to Lead Design
Athleta has hired Tania Flynn, formerly VP of apparel design at Nike, as head of design.
Allbirds Completes Distributor Deals for Benelux, Scandinavia and Japan
Footwear brand finalizes agreements that will cover Benelux and Scandinavia. Japan Region transitioned to Goldwin, Inc.
Nike, Converse Sue 52 ‘Counterfeiting Networks’
Nike and sister brand, Converse, filed a lawsuit with the U.S. District Court for the Southern District of New York against 52 alleged counterfeit networks, which collectively operate 98 websites and 267 social media handles, over the sale of counterfeit goods.
Amazon to End Plastic Use In Shipping
Amazon will eliminate “almost 15 billion plastic air pillows annually to reduce its environmental footprint.” The company will use 100 percent recycled paper filler, which is recyclable and “offers the same, if not better, protection.”
Birkenstock’s Debt Ratings Upgraded By S&P
S&P Global Ratings revised up its full-year guidance to expected annual sales growth of 20 percent in 2024, from 17 percent to 18 percent previously.
Trending: 2024 Midyear Per Race Participation Increases
RunSignup reported a mid-year update on race trends, showing that pre-race registrations have continued to increase after nearly matching 2019 numbers in 2023. On average, registrations grew 8 percent compared to 2023.
FootBalance Appoints New CEO
Most recently, Atul Midha, was the global retail director at Eton Shirts. He also held senior leadership roles at Giorgio Armani, and other fashion retail and tech startups.
Blain’s Farm & Fleet Names New CEO, Exec Chair, and Chief Stores Officer
Mark Hasting was promoted to president and CEO and Kim Treece to chief stores officer. Jane Blain Gilbertson will assume the executive chair of the company’s Board and remain the sole owner of Blain’s Farm & Fleet and Blain Supply, Inc.
Tronus Makes Leadership Transition
The futuristic luxury athleisure sneaker brand reported that Cynthia Cureton-Robles, co-founder and COO, stepped into the CEO role.
Golden Goose Postpones IPO
Luxury sneaker maker Golden Goose Group SpA has decided to postpone its planned initial public offering “as a result of European market volatility.”
Centric Brands Inks Global Licensing Partnership with Messi Brand
The product categories will offer a diverse range of styles that embody the Lionel Messi brand, featuring men’s, women’s and kid’s categories, including apparel, outerwear.
