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.
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.
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.
Soccer Pioneer Hubert Vogelsinger Passes Away
Hubert Vogelsinger, a pioneer of soccer camps in the United States and a notable figure in the North American Soccer League (NASL), has passed away.
Lululemon Partners With Ohio State University
The Ohio State Buckeyes Department of Athletics announced a new merchandising partnership with Lululemon.
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.
Colt CZ Group Acquires SwissAA Holding AG
Colt CZ Group SE acquired Swiss ammunition producer SwissAA Holding Ag. The company financed the transaction with cash reserves, including a recent bond issue for an undisclosed amount.
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.
American Outdoor Brands Sees Fiscal Q4 Adjusted Profits Decline As Sales Fall 8 Percent
American Outdoor Brands, Inc. reported that fiscal fourth quarter net sales decreased 8.0 percent to $42.2 million for the three-month period ended April 30. Quarterly non-GAAP net income was $793,000, or 6 cents per diluted share, compared with non-GAAP net income of $1.9 million, or 14 cents per diluted share, for the prior-year quarter.
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.
