Vuori Secures $400 Million Investment From SoftBank
Southern California-inspired activewear brand Vuori announced a $400 million investment from SoftBank Vision Fund 2 at a valuation of $4 billion. The funding will support the launch of Vuori’s international expansion in 2022 and a goal to open more than 100 new stores in the U.S. over the next five years
Tonal Announces LeBron James As An Investor And Brand Partner
Tonal announced that LeBron James has signed on as an investor and brand partner. The partnership was marked by the launch of a campaign featuring the Los Angeles Laker’s basketball star.
Play It Again Sports Parent’s Q3 Income Expands
Winmark Corporation, the parent of Play It Again Sports, announced its net income for the quarter, ended September 25, 2021, of $10.08 million, or $2.67 per share, compared to a net income of $9.4 million, or $2.43, a year ago.
Xponential Fitness Acquires Body Fit Training
Xponential Fitness Inc. announced that it had acquired Body Fit Training, an Australia-based fitness franchisor for $44 million in cash on the balance sheet and debt from its existing senior secured loan facility.
Pear Sports Acquires Aaptiv
Pear Sports announced the acquisition of Aaptiv, the workout app. Aligned with the acquisition, Life Fitness has added to its equity investment in Pear and will distribute Aaptiv through its sales and marketing partnership.
Mountainsmith Appoints Senior Designer And Industry Veteran
Mountainsmith announced it had hired industry veteran Rio Telge as senior designer, responsible for its design plans for 2022 and beyond.
Outdoor Adventure Brands Secures $8.2 Million Credit Facility
Tiger Finance has closed on $8.2 million in growth financing for Outdoor Adventure Brands (OAB), the e-commerce and retail company known for its Austin Canoe & Kayak stores in Texas and Summit Sports locations in Michigan.
Life Time’s Debt Ratings Upgraded Following IPO
Life Time Inc., the owner and operator of fitness clubs, saw its debt ratings earn upgrades from Moody’s and S&P following its completion of an IPO that raised $700 million.
ICSC Survey Projects 8.9 Percent Holiday Sales Gain
Shoppers are expected to provide a boost for retailers during the 2021 holiday shopping season, according to ICSC’s Annual Holiday Shopping Intentions Survey. ICSC forecasted an 8.9 percent year-over-year increase in November through December sales with the total expected to reach $923 billion. The annual Holiday Shopping Intentions Survey found that the average consumer this holiday season plans to spend an average of $637 on gifts and other holiday-related merchandise.
Yue Yuen’s Sales In September Slump On Factory Shutdowns
Yue Yuen’s consolidated operating revenue in September fell 23.7 percent to $541.6 million from $710.2 million in the same month a year ago. The decline reflects the pandemic-related factory shutdowns in Vietnam.
Nike Sued By Former Oregon Project Runner, Mary Cain
Former star middle-distance runner Mary Cain has filed a $20 million lawsuit against disgraced coach Alberto Salazar and Nike alleging she suffered years of emotional abuse.
A&M Manufacturing And StyleCraft Boats Moving To Alachua
A&M Manufacturing and StyleCraft Boats are moving to the former Marlow-Hunter facility in Alachua, FL.
Big Agnes Announces Hires In Product Development And Sourcing
Big Agnes announced new hires within its product development team. Joining the company are Bryan Davis, Leanne Thompson and Monica Welcker, while Tim Leroy joins its sourcing department.
GoPro Appoints Board Member
GoPro Inc. announced that Shaz Kahng has joined GoPro’s Board of Directors. Her past roles include global general manager of Nike Cycling and president/CEO at Lucy Activewear.
Allbirds Opens New Store In Oakbrook
Allbirds has opened a new retail store and community center in Oakbrook, IL. The location marks the brand’s second store in the Chicago area and 33rd globally, with locations across North America, Asia, and Europe.
