SGB Update

FDRA Report: Footwear Retail Prices Spike The Most in 20 Years

Footwear Distributors and Retailers of America (FDRA) released its monthly Shoe Price Report showing shoe prices are increasing at the fastest rate in over 20 years. Prices may increase further as products come available for the holiday.

Echelon Appoints Board Member

Connected fitness company Echelon announced today the appointment of Gabby Cohen to its Board of Directors. This board placement was supported by the company’s collaboration with the Women on Boards (WOB) Project and North Castle Partners.

Under Armour Appoints Chief Consumer Officer

Under Armour Inc. announced the appointment of Massimo Baratto to executive vice president, chief consumer officer. Since joining Under Armour in 2018, Baratto has served as managing director of the company’s Europe, Middle East and Africa (EMEA) region.

Adidas Launches New Share Buyback Program

Adidas said its board has decided to launch an additional share buyback program following the completion of a share buyback program launched in July. Starting on October 18, 2021, the company plans to buy back shares worth €450 million until the end of the year.

Reid Bikes Hires New Product Manager

Reid Bikes hired Leon Stimpson as its first product manager. Stimpson recently headed up product development at Forme Bikes.

Mindbody To Acquire ClassPass

Mindbody, headquartered in San Luis Obispo, CA, said it has entered into an agreement to acquire ClassPass, the fitness membership subscription service.

Report: Gymshark Exploring IPO

The U.K.-based fitness apparel and athleisure brand Gymshark is in preliminary talks with banks and institutional investors over a potential IPO, according to Sky News.

Salt Life To Open Five Stores

Delta Apparel Inc. announced plans for five new wholly-owned retail stores for its beach lifestyle brand, Salt Life. Storefronts in Florida, South Carolina and Alabama are expected to open early next year.

Sportsman’s Warehouse Appoints Interim CFO

Sportsman’s Warehouse Holdings, Inc., which agreed in January to be acquired by Bass Pro, said in a regulatory filing that Jeff White has been appointed vice president of finance, chief accounting officer and interim chief financial officer of the company,

Carver Skateboards Names New President

Carver Skateboards has hired Dave Root as its president. Root was previously general manager for Absolute Board Co. and brings with him two decades of industry experience and process implementation having helped to manage skate hardgoods brands Penny, Z-Flex and Arbor Skateboards.

Poshmark Acquires Suede One

Poshmark Inc. acquired Suede One, a platform that combines machine learning, computer vision and human review to virtually authenticate sneakers. Suede One said its employees would join the Poshmark team.