SGB Update Sports & Fitness
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.
Frasers Group Appoints Managing Director, Cycling
Frasers Group plc announced the appointment of Russell Merry as managing director for cycling. The group currently operates from over 70 Evans Cycles stores and retails a collection of cycling specialty products across its Group portfolio, which spans 22 countries and over 500 stores.
Flexia Raises $4 Million In Funding Round
Flexia, the at-home Pilates start-up, announced a $4 million seed round led by ADvantage, an early stage VC fund investing in tech companies involved in sports, fitness, health and gaming. Other strategic investors in the round include Phoenix Capital Ventures, Techstars, and Calm Ventures.
Lululemon Makes Executive Appointments
Lululemon has hired Simon Atkins, who formerly led basketball at Adidas, as SVP of footwear and Phil Dickinson, a Nike veteran, as SVP, global creative director. Both report to Sun Choe, chief product officer.
NFHS Partners With American Youth Football
American Youth Football, Inc. (AYF), a national youth partner of the National Football League, will require all of its 50,000-plus coaches on its regional/national track to take the new, free “Football Tackling” course introduced on the National Federation of State High School Associations (NFHS) Learning Center last month.
Dunlop Golf Brands Rebrands in North America
In a global alignment strategy, the sports business for Sumitomo Rubber Industries, Ltd. (SRI) will be affiliated under the Dunlop brand umbrella. Currently operating as Srixon/Cleveland Golf/XXIO, SRI’s North American sales company Roger Cleveland Golf Company, Inc. (RCGC), will now be doing business as Dunlop Sports Americas.
Xponential Fitness Announces Secondary Stock Offering
Xponential Fitness, Inc. announced the commencement of an underwritten public offering of 4.5 million shares of the company’s Class A common stock by certain of the c existing stockholders, affiliates of Snapdragon Capital Partners.
Former Whoop And Fitbit Executives Join CONNEQT
CardieX Limited announced the addition of Jack Seitz and Lara Rosenbaum to the executive team of CardieX’s subsidiary, CONNEQT, a new consumer health company focused on home vital signs monitors, wearables and consumer health apps.
MLB Uniforms To Add Advertising Beginning In The 2023 Season
Major League Baseball (MLB) players’ uniform sleeves will sport corporate-sponsored patches beginning next season for the first time in the game’s 146-year professional history. The league confirmed that decals on batting helmets could come as early as this postseason.
Industry Veteran Joins Putterman Athletics
Putterman Athletics announced it hired Randy Futty in the newly created position as executive vice president, business development. Futty is past chairman of the USTA National Technical Committee and has served on the Board of Directors and the Executive Committee of the American Sports Builders Association in several past years.
EMPWR Acquires Noble Foods
EMPWR Nutrition Group, the Belgium-based manufacturer of protein bars, has acquired Noble Foods, a Quebec-based nutritional bar manufacturer with two production sites in Montreal and Oregon.
Nike To Pay $5 Million To Lontex Attorneys In Trademark Suit
Nike Inc. will have to pay $4.99 million to cover the attorneys’ fees and expenses that Lontex Corp. incurred in litigating to trial in an infringement case over Lontex’s “cool compression” trademark.
Ontario’s Garb and Gear Source for Sports Closing
Garb and Gear Source for Sports in Owen Sound in Southwestern Ontario is closing as its owners, Brian and Janice Warrilow, are retiring.
Fanatics Partners With Minnesota Vikings
Fanatics announced an exclusive, ten-year omnichannel merchandise and retail partnership with the NFL’s Minnesota Vikings. As a part of the deal, Fanatics assumes the operation of its e-commerce, mobile and physical retail stores.
HighPost Capital Acquires Chris Hemsworth’s Centr and Inspire Fitness
HighPost Capital, a private investment firm announced the acquisitions of Centr, a personalized digital health and fitness platform curated by actor Chris Hemsworth, and Inspire Fitness, a maker of fitness equipment. Financial terms were not disclosed.
