All Corporate articles – Page 24
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News briefsSpoon Group raises £740,000
Spoon Group, the bespoke bike company that owns the WyndyMilla and Spoons Customs brands as well as custom paint shop Gun Control Paint, has closed a financing round worth £740,000 (€845,575). A private round that brought in nearly £300,000 in new investment was followed by funding from long-term debt partner ...
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News briefsInvestors and Jaktia management acquire Jaktia Group
Jaktia, a Scandinavian franchise chain specialized in the hunting, fishing, and outdoor segments, has new owners. A private investment company consisting of Jaktia’s management, together with a few investors, has acquired 100 percent of the shares in Jaktia AB, Jaktia Kållered AB, Jaktia Falun AB, Jaktia AS and Jaktia Jessheim ...
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News briefsEddie Bauer to roll out in Japan with Itochu partnership
Authentic Brands Group (ABG) and Itochu, a Japan-based trading company that specializes in textiles, machinery, food and energy, have announced a partnership to grow ABG’s outdoor brand Eddie Bauer in Japan. To facilitate this, Itochu will partner with Mizujin, a fashion wholesale and retail company, to design, manufacture and distribute ...
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News briefsLenzing switches to green electricity also at its Chinese site
The Lenzing Group is gradually transitioning to green energy at its production site in Nanjing. This will allow its Chinese subsidiary Lenzing Nanjing Fibers to use electricity derived only from renewable sources from 2023 onwards. The transition will also reduce the site’s carbon emissions by 100,000 tons annually, the company ...
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ArticleChouinard family transfers Patagonia ownership to channel dividends to environmental protection
Source: Campbell Brewer Yvon Chouinard Nearly 50 years after founding Patagonia, Yvon Chouinard and his family (together with his children Claire and Fletcher) have decided to give away their company to ensure all proceeds will be used to fight climate change. The Chouinard family has transferred all ...
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ArticleMips predicts temporarily weaker bicycle market than expected
After two years of bicycle-related sales records, the listed Thule Group AB already spoke of an imminent temporarily reduced bicycle-related sales volume that will affect sales and profitability in the coming months (OIC reported). Now Mips AB, also from Sweden, is following suit: The Brain Protection System (BPS) manufacturer, also ...
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ArticleLenzing sees Austrian site at risk due to energy costs, politics and shortage of skilled workers
Stephan Sielaff, the CEO of fiber manufacturer Lenzing AG, sees Austria as an attractive production location - but also as a vulnerable one. “Gas prices are high in Austria, but not in China. If we can no longer cover our costs, at some point, it will be the end of ...
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News briefsNewell Brand’s bond offering receives Ba1 rating from Moody’s
After a negative outlook from S&P Global for Newell Brands, the parent company of outdoor and recreation brands CampingGaz, Coleman, Marmot and others, Moody’s rating was much more favorable: The new senior unsecured bonds received a Ba1 rating, and the outlook for the company remained positive. The rating agency expects ...
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News briefsThule expects impact on its bicycle business from reduced orders
In a webcast meeting with Magnus Welander, CEO and president of the Thule Group, the company informed about the current market situation just before the company’s Q3 report 2022, which is scheduled for Oct. 26. In its half-year report on July 21, the company described the general market situation in ...
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News briefsCyberattack hits The North Face, affecting almost 200,000 customer accounts
As reported by Infosecurity, Techradar, Cybernews and other media outlets, The North Face (TNF) was hit by a large-scale cyberattack that affected the data of 194,905 of the brand’s online customers. Email addresses, passwords and personal information stored in user accounts were hacked. According to a data breach notification obtained ...
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ArticleRiese & Müller with new management structure and first-time management board
Almost 30 years ago, Markus Riese and Heiko Müller, then students, founded the bicycle company Riese & Müller GmbH (R&M). Since then, the German business has grown from a folding bike start-up to a global player in the e-bike market and today employs over 900 people and generates annual sales ...
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News briefsBike chain Multicycle launches in Austria
Shortly before opening its 31st store in its home market of Germany, German bicycle chain Multicycle Fahrrad-Handels GmbH & Co. KG announced plans to expand to Austria. So far, the company, known primarily as a Cube store operator, had only announced plans to open four more stores (Frankfurt West, Reutlingen, ...
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ArticleSwedish e-bike manufacturer EcoRide brings production home
Due to its growth course and imposed EU anti-dumping duties on e-bikes from China, e-bike supplier Nordic Group EcoRide AB moved its production from China to Poland in 2018 – still under the old company name ProNordic Group. Now the Swedish company is moving production again, from Poland to Sweden ...
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News briefsNewell Brands drops FY22 outlook
Newell Brands has revised its full-year revenue, operating margin and cash flow forecasts due to “a more challenging than anticipated operating and consumer backdrop.” The Atlanta-based company and parent to eight brands in its outdoor & recreation segment, including CampingGaz, Coleman, Marmot and Ex-Officio, has reduced its FY22 revenue outlook ...
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ArticleEcco finishes renovation of headquarters
Ecco has completed the refurbishment of its headquarters located in Bredebro. The town, situated in southern Denmark, has been the company’s home since its foundation in 1963 by Birte and Karl Toosbuy. The site comprises various corporate functions, including finance, supply chain, procurement, information technology, human resources and corporate responsibility. ...
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ArticleTicket to the Moon receives provisional membership status to WFTO
Ticket to the Moon, known for its silk parachute hammock and a range of other travel and outdoor accessories, has been granted provisional membership to the World Fair Trade Organisation (WFTO), the global community of social enterprises that fully practice Fair Trade. WFTO’s guarantee system verifies that members are truly ...
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News briefsVF reportedly cutting several hundred jobs
ShopEatSurf reported that VF Corp. headquartered in Denver, Colorado, and parent company of brands such as The North Face, Timberland, Smartwool, Altra, Icebreaker and Vans, is cutting 600 jobs worldwide “to align our people and capabilities with our highest strategic priorities,” as VF CEO Steve Rendle reportedly stated in a ...
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News briefsMammut transfers Alpine School to long-standing partner
Mammut Sports Group is handing over its Mammut Alpine School, founded by the brand in 2008, to its long-time partner Zermatters, which will integrate the school into its own organization. From September 2022, Zermatters will take over the day-to-day operations for the upcoming winter season, while the Alpine School will ...
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ArticlePierer Mobility raises sales forecast for FY 2022
While many listed companies are lowering their sales forecasts in these troubled times, Austrian two-wheeler giant Pierer Mobility AG has just revised its sales forecast for fiscal 2022 for the better. According to an ad hoc release published on Aug. 29, good performance in the first half of 2022 and ...
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ArticleExcavation work for new MBPS corporate headquarters in full swing
With the completion of the basic planning phase, the Magura Bosch Parts & Services (MBPS) joint venture formed by Magura and Bosch eBike Systems is starting construction work on the previously communicated new energy-efficient corporate head office. After completion of the excavation work, the start of the ...
