SGB Update Sports & Fitness
TaylorMade Acquires Ball Manufacturer Nassau Golf
TaylorMade Golf has completed the acquisition of Korean-based Nassau Golf Co. Ltd for an undisclosed amount. The deal represents TaylorMade’s third vertical integration in its golf ball business with the new entity called TM Golf Ball Korea, joining its other golf ball manufacturing facilities —TM Golf Ball South Carolina (U.S.) and TM Golf Ball Taiwan.
SFIA’s Fitness Movement Report Shows Positive And Negative Impacts During Pandemic
SFIA’s 2021 Tracking the Fitness Movement Report showed that while participation levels in fitness remained strong, the pandemic altered the activities that consumers could participate in.
Strava Appoints Chief Financial Officer
Strava announced it has hired Lily Yang as CFO. Yang will be responsible for overseeing the finance and legal organizations to support the company’s growth and worldwide operations.
True Linkswear Secures $11.25M Investment
Golf footwear startup True Linkswear announced it has raised $11.25 million from KarpReilly to accelerate the growth.
Dick’s SG And Nike To Integrate Loyalty Programs In Connected Partnership
Dick’s Sporting Goods and Nike Inc. said its customers could now connect their Dick’s Scorecard and Nike Membership accounts through Dick’s mobile app as part of a new connected partnership to gain access to products, experiences and offers.
Nike Files Patents To Sell Virtual Goods
Nike has applied this week for new trademarks indicating its intent to sell branded virtual goods, including shoes and apparel, according to a report from Bloomberg.
Big 5’s Profits Dip On Tough Comparisons
Big 5 Sporting Goods reported net earnings declined 15.1 in the third quarter ended October 3, in line with guidance and reflecting challenging comparisons in the year-ago pandemic-fueled quarter. Same-store sales decreased 0.7 percent compared to the prior year period and increased 13.2 percent compared to the third quarter of 2019.
Coca-Cola Acquires BodyArmor
Coca-Cola has acquired sports-drink maker BodyArmor, representing its largest brand acquisition.
Under Armour Hikes Outlook On Q3 Earnings Beat
Under Armour Inc. strongly raised its guidance for the full year after reporting third-quarter earnings that were double Wall Street’s consensus targets. Revenues climbed 8 percent in the third quarter.
Nike Board Member To Retire At End Of Year
Nike Inc. said in a regulatory filing that John Connors on October 27 notified the company of his decision to retire as a director of the company effective December 31, 2021. Connors’s decision to retire is not because of a disagreement with the company or the Board of Directors
Beachbody Appoints Head Of Partnerships And International Development
The Beachbody Company Inc. announced that Jean-Michel Fournier assumed the newly created role of president, global partnerships and corporate development, effective November 1, 2021.
Callaway Golf Company Announces Strategic Investment In Five Iron Golf
Callaway Golf Company announced that it had completed a $30 million minority investment in Five Iron Golf, a privately-owned, urban indoor golf and entertainment company offering simulator rentals, golf lessons, custom club fittings, social events and for and beverage.
Scheels Expanding To Idaho
Scheels announced plans to open its first All Sports Store to Idaho. The store is scheduled to open in Spring 2024 in Meridian, West of Boise. The 240,000 retail store is planned to anchor the Ten Mile Crossing development.
BikeExchange Appoints Chief Customer Officer
BikeExchange Limited announced the appointment of Rebecca Boxall as its newly created position of chief customer officer, finalizing the recruitment of its executive team following an IPO in February this year.
Galaxy Universal To Acquire And1, Avia, Gaiam, And SPRI
Galaxy Universal, LLC. has agreed to acquire the And1, Avia, Gaiam, and SPRI brands as part of the bankruptcy proceedings of Sequential Brands Group, Inc. for approximately $330 million.
