Brand Velocity Group Launches Sports Industry Vertical
Brand Velocity Group (BVG), the investment firm, launched its sports-focused vertical, Brand Velocity Group Sports (BVGS). Joseph Cohen, chairman and CEO, West Ridge Associates, a sports and media consulting firm, will serve as chairman of BVGS.
Adidas Ends Partnership With Kanye West
Adidas said on Tuesday that it is ending its partnership with Ye, formerly known as Kanye West, after the rapper made antisemitic remarks. Adidas said the move would have a short-term negative impact of up to ($246 million (€250 million) on net income in 2022 due to high seasonality in the fourth quarter.
Gold’s Gym Owner Rainer Schaller, Family Feared Dead
Rainer Schaller, owner of RSG Group, which includes McFit, John Reed and Gold’s Gym fitness studios, and his family were among the six people aboard a private plane that crashed off the coast of Costa Rica, RSG Group said in a statement Monday.
Puttshack Plots Expansion
Puttshack plans to open locations in Boston and Miami this fall and another in St. Louis this winter.
Burlington Stores’ Debt Ratings Affirmed
S&P Global Ratings affirmed its debt ratings on Burlington Stores, Inc. despite the off-price retailer facing declining consumer discretionary spending among its core customer base while its value proposition, relative to traditional retailers, has narrowed amid industry-wide clearance activities.
NPD Group Report: U.S. Footwear Q3 Sales Flat
According to the NPD Group, in third quarter 2022, U.S. footwear sales revenue was flat at $10.8 billion versus Q3 2021. It further noted that gains in fashion footwear offset declines in performance footwear.
Golftec Opens Seven Locations In Third Quarter
Golftec opened seven locations in the third quarter of 2022 and now has over 240 locations worldwide.
Feedback Sports Hires Director Of Operations Timed With Office Relocation
Feedback Sports, LLC. hired Carl Boni as director of operations. Boni joins the company timed with the occupancy of a new building in Golden, CO this month.
Highway Two Adds New Hires
Highway Two (H2), the North American importer and distributor of cycling brands Continental, Selle Royal, Fizik, crankbrothers, Brooks England, ABUS, Knog, and 100%, announced hires in finance, operations, sales, and marketing.
Camplify To Acquire PaulCamper
Australian RV rental company Camplify has acquired Germany’s peer-to-peer RV rental marketplace PaulCamper to further global expansion. The company operates in Australia, New Zealand, Spain, the UK, the Netherlands, and Austria.
Former Nike COO Joins Jigx’s Board
Jigx, the mobile application development SaaS based in Seattle, WA, announced that Eric Sprunk, former Nike COO, has been appointed to its Board of Directors. Sprunk is also an investor in the brand.
NPD Group Forecasts Modest Decline In Fourth Quarter Apparel Sales
According to the NPD Group, fourth-quarter apparel sales will decline in the U.S., with average prices rising 2 percent and dollar sales falling one percent.
StockX Names Head Of Brand Protection
StockX hired Paul Foley as head of brand protection reporting to its Chief Supply Chain Officer, Sean McCartney. Foley’s role is to spearhead the company’s efforts to deliver value to the consumer and protect the integrity of the StockX marketplace.
REI To Open Store In Laguna Hills, CA
REI Co-op will open a new store in Laguna Hills in fall 2023. This is the retailer’s 31st location in California and 12th in the Los Angeles market.
Vista Outdoor Announces Departure Of CFO
Vista Outdoor, Inc. announced that after two and a half years in his role, Sudhanshu Priyadarshi, the company’s chief financial officer, has decided to pursue another opportunity and is leaving his position in November. The company also reported preliminary second-quarter results that showed sales expanding by 4 percent.
