SGB Update Sports & Fitness
Gymshark To Restructure As It Preps For U.S. Expansion
Gymshark could lay off as many as 10 percent of its workforce in an overhaul of the online-only retailer according to reports. The Financial Times reported that the sportswear group also plans to create 100 new jobs as it focuses on the lucrative U.S. market.
U.S. Ports Seeing Brief Slowdown From Last Year But Imports Remain High
The nation’s major retail container ports have begun to catch up with the backlog of cargo seen over the past several months but could experience another surge this summer, according to the monthly Global Port Tracker report released by the National Retail Federation.
Fabletics Names Chief Design And Merchandising Officer
El Segundo, CA-based Fabletics, announced that it hired Kelli Dugan as chief design and merchandising officer, responsible for product creation, including merchandising, design and planning. Dugan will also lead the ongoing global expansion of its business into men’s, loungewear and swim.
KKR Formalizes Offer For Accell Group
In a joint press release, Accell Group, the parent of Raleigh, Ghost, Haibike, and other bike brands, and a private consortium headed by Kohlberg Kravis Roberts & Co. (KKR) recommended shareholders accept the all-cash offering for its shares for 1.56 billion euros ($1.76 billion).
NFL, MLB And Players Unions Increase Investments In Fanatics
The NFL, NFLPA, NHL, MLB, and MLBPA all increased their stakes in Fanatics as part of a recent $1.5 billion funding round, Fanatics has confirmed.
Unleashed Brands Names COO And EVP Of Strategy
Unleashed Brands, the franchiser of Urban Air, Snapology, The Little Gym and Premier Martial Arts, has hired Joe Luongo as chief operating officer and executive vice president of strategy.
NPD And IRI To Merge
The NPD Group (NPD) and Information Resources, Inc. (IRI) announced the signing of a definitive agreement to merge the two companies. The transaction is expected to close in the second half of 2022.
Nike To Open Technology Center In Atlanta
Nike plans to open a technology center in Atlanta in a major expansion in the area, according to the Atlanta Business Chronicle.
Levi Strauss’ Q1 Revenues Climb 22 Percent
Levi Strauss & Co. reported profits on an adjusted basis grew 34.9 percent in the first quarter ended February 27 as sales ran up 22 percent. Both earnings and sales topped Wall Street targets.
VillaSport Announces Axiom Fitness Acquisition
VillaSport Athletic Club and Spa, based in San Rafael, CA, announced its acquisition of Axiom Fitness, a four-club fitness chain in Boise, ID.
Golftec Opens In Las Vegas
Golftec opened an instruction and club fitting center in Las Vegas, NV.
IFit Withdraws IPO Following Postponement In October
According to a filing with the Securities and Exchange Commission on Wednesday, NordicTrack, owner of IFit Health & Fitness, Inc., scrapped its plans for an already-postponed initial public offering
Aqua-Leisure Recreation Acquires INYO Pool Products; New Appointments Coincide
Aqua-Leisure Recreation, LLC announced the acquisition of Longwood, FL-based INYO Pool Products, LLC, a direct-to-consumer brand of swimming pool supply, repair and maintenance products. With this acquisition, new appointments were made.
NPD Report: Golf Equipment Sales Drop in Second Half Of 2021
Golf clubs and gloves sales declined in the period from July 2021 through February 2022, down 12 percent and 6 percent, respectively, year-over-year, according to Retail Tracking data from The NPD Group. Golf balls remained flat, and accessories (i.e., tees) and training aids were higher.
Brand Finance Ranking Report: Nike Retains Top Spot As Most Valuable Brand
As a result of increased consumer demand for sportswear due to the pandemic, brands in the sector achieved significant value growth over the last year, according to the just-released Brand Finance Apparel 50 Report. Nike retains the top spot as the most valuable brand in the ranking since the rankings were instituted. Skechers and Li Ning were also among those growing significantly in value.
