All Corporate articles – Page 16
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News briefsCake and FCA Bank sign pan-European financial partnership
Cake, the Swedish manufacturer of lightweight electric motorcycles, has entered into a financial partnership with Italy-based FCA Bank, which operates across Europe. The bank, with nearly a century of experience in car financing, leasing and mobility, will offer Cake’s customers financial solutions for all of its two-wheeled platforms. “Financing is ...
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News briefsBoost secures six-figure investment
Source: Lavita Boost by LaVita Boost, a British brand specializing in e-bike conversion kits, has announced the completion of a funding round with a six-figure investment raise. Founded by Cambridge design engineer Nick Bailey, Boost is an aftermarket conversion kit brand that works directly with retailers. The ...
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News briefsAndrés Iniesta backs the new Guava bike brand
Never Say Never Ventures (NSN), the business incubator co-founded by former FC Barcelona player Andrés Iniesta, is backing the launch of Guava, a new high-end bicycle brand focused on gravel. Guava was founded in Barcelona by David Álvarez and Nacho Suárez, two friends with more than 25 years of experience ...
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News briefsShimano establishes joint venture for Southeast Europe
Shimano Europe has announced a joint venture with Greece-based Nikos Maniatopoulos to handle bicycle components and fishing tackle sales and service in most of Southeast Europe. The joint venture will operate as Shimano South-East Europe. Integration is planned to start on April 1. The joint venture builds on a long-standing ...
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News briefsVF issues Eurobonds worth €1bn
VF Corp. intends to use proceeds from the proposed offering of two €500 million tranches of notes, which are due in 2026 and 2029 with respective coupon rates of 4.125 percent and 4.25 percent for debt repayment, general corporate purposes and to fund certain sustainable development projects. J.P. Morgan, Morgan ...
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News briefsManagement buyout at McTrek
According to German media, the outdoor retailer McTrek Retail GmbH was taken over by CM.Solutions GmbH and its managing director Christian Müller as part of a management buyout. In the past two years, McTrek has found its way back to an economically stable situation after insolvency, the company said. In ...
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News briefsCheckerspot closes $55 million funding round
Biotech firm Checkerspot has announced the close of a $55 million Series C financing led by ArrowMark Partners, with participation from Cox Enterprises and other new and existing investors. The funding is supposed to accelerate Checkerspot’s development and commercialization of high-performance, bio-based alternatives for everyday products and to boost Checkerspot’s ...
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ArticleCanada Goose aims to have up to 150 stores and $3 billion in sales by 2028
After reporting slightly weaker third-quarter numbers earlier this month, Canada Goose, founded in 1957 in a small warehouse in Toronto, Canada, announced not only its five-year financial goals but also an update on its strategic priorities at its Investor Day on Feb. 7, 2023, at the company headquarters. “Today, Canada ...
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News briefsSalomon publishes first impact report
Following its sister company Atomic’s impact statement, Salomon has also published its first-ever annual sustainability report. After a full carbon inventory, the French brand’s science-based targets have been officially approved for 2022 (aiming for a 50 percent absolute reduction in Scope 1 & 2 carbon emissions and a 30 percent ...
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ArticleSRAM Group commits to building a new plant
Source: SRAM Group According to the plan, the new modern SRAM Group production facility in Taichung should start in 2024. For more than three decades, US component supplier SRAM Group has relied on Taiwan for its production. After all, the island nation committed itself many years ago ...
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News briefsLectra looks back on a strong year 2022
For 2022, Paris-based company Lectra – a specialist in digital design solutions and cutting equipment – has reported a 35 percent increase in revenues to €521.9 million and a net income of €43.8 million. EBITDA was up 51 percent to €98.4 million. In Dec. 2022, Lectra announced the signature of ...
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News briefsZwift raises new funding
Zwift has raised $620 million from backers including Amazon’s Alexa Fund, KKR & Co. and Permira Holdings. According to Bloomberg, Zwift expects these investments to enable it to increase subscription prices, reach the milestone of ten million subscriptions (from roughly one million), take the company public and eventually invest in ...
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News briefsAlpine Group joins Fashion for Good
Apparel manufacturer Alpine Group, supplier of brands including Sweaty Betty, The North Face and Under Armour has joined Fashion for Good as an affiliate innovation partner. The two organizations aim to explore and support the commercialization of technologies that reduce environmental impact. One main topic of the partnership is the ...
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News briefsRed Chili brand without Hofstädter and Glowacz
With the start of the new year, Edelrid has taken over all responsibilities for the climbing equipment brand Red Chili from Stefan Glowacz and Uwe Hofstädter. The company was founded by the two German climbers in 1996 and is part of the Edelrid group since 2017 (as reported in OIC). ...
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News briefsAmer Sports pioneers with Sourcemap’s new traceability software
SaaS-provider Sourcemap has announced that Amer Sports, the parent company of Arc’teryx, Salomon and Wilson, among others, will be the first customer to utilize the software for products made with cotton and viscose. After the U.S., legislation like the Uyghur Forced Labor Prevention Act (UFLPA) forced importers to irrefutably prove ...
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News briefsVista creates action sports division under outdoor umbrella, led by Fox Racing president
According to Shop Eat Surf, Jeff McGuane, president of Fox Racing, has been promoted at Vista Outdoor to lead a restructured Action Sports division, which includes Fox Racing, Bell, Giro, Blackburn, Krash, Copilot and Raskullz. Vista Outdoor acquired Fox Racing in August 2022. According to the same media source, McGuane’s ...
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News briefsAlpkit raises £1.5 million in funding
Alpkit, the British outdoor and cycling brand and retailer, has secured £1.5m (€1.7m) from the Midlands Engine Investment Fund (MEIF). The new funding will help it strengthen seasonal inventory acquisition and product development in the footwear and e-bike lines. It will also enable the company to take over its bike ...
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News briefsNorrøna acquires travel specialist and expands into international tourism
After acquiring the local tourism operator Hvitserk of Norway in 2020, Norrøna has now also acquired the global adventure tourism company Hvitserk & Eventyrreiser AS, which was founded in the 1970s. Hvitserk & Eventyrreiser offers trips to 50 countries all over the globe. Following the transaction, the company, now operating ...
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News briefsNewell Brands sets restructuring plan, 13% of workforce lose jobs
Newell Brands, the consumer goods company that features Marmot, Coleman, Campingaz and Contigo in its portfolio of brands, is consolidating its five operating segments into three and eliminating approximately 13 percent of its office workforce headcount this year. The total cost of the actions is pegged at $100 to $130 ...
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News briefsE-com start-up Velio offers refurbished bikes and e-bikes, expands into Austria
In its online shop for refurbished bikes and e-bikes, German start-up Velio wants to offer a higher quality alternative to private used gear marketplaces. Velio sells secondhand bikes and e-bikes that are overhauled at the company’s workshop in Cologne. All bikes come with a 12-month guarantee and can also be ...
