SGB Update Outdoor
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.
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.
Sound Around, Inc. Recalls Children’s Multi-Purpose Helmet
Sound Around, Inc., cooperating with the U.S. Consumer Product Safety Commission (CPSC), recalled approximately 1,800 Hurtle multi-purpose children’s helmets. The recalled helmets do not comply with the positional stability requirements of the U.S. CPSC federal safety standard for bike helmets.
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.
Report: Younger Consumers Trading Handbags For Totes, Waist Packs And Backpacks
The $8.8 billion handbag market in the U.S. faces a generational dilemma—younger women are less likely than the older demographic to buy and carry a handbag. Although 18- to 34-year-olds accounted for a decline in the overall handbag market over the past year, sales in totes and shoppers were up 11 percent—fanny, waist and chest packs increased 56 percent.
