All Corporate articles – Page 25
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News briefsSätila expands factory and introduces new product category
Swedish wool accessories company Sätila, founded in 1896, has announced that it is expanding and remodeling its factory in Sweden. To create additional space for production, the warehouse will first be moved off-site. This will make room for new knitting machines and washing machines needed as part of expanded in-house ...
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ArticleJack Wolfskin’s parent changes company name
Callaway Golf Company announced plans to change its corporate name to Topgolf Callaway Brands Corp. Following the company’s merger with Topgolf in 2021, “the name change reflects Callaway’s dynamic brand portfolio that has unmatched scale and reach across the full modern golf and active lifestyle ecosystem, including on- and off-course ...
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News briefsRapha Racing implements AI technology for more resilient supply chains
The cycling apparel brand Rapha Racing has entered into a new cooperation with the London-based artificial intelligence (AI) technology provider 7bridges to manage its range of different carriers and service providers globally through an AI platform. Rapha’s arrangement with 7bridges includes the invoicing process as well as automated processes in ...
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News briefsDongsung Chemical and UPM join forces for large scale production of biochemicals
In 2020, the German subsidiary of Helsinki-based company UPM announced its entry into the biochemicals business by building a new biorefinery at the former GDR chemical industry hotspot of Leuna, Germany. The original announcement spoke of a €550 million investment, which has been changed to €750 million in the press ...
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News briefsJack Wolfskin revises logo and introduces new brand claim in all markets
The German brand Jack Wolfskin has slightly reworked its logo and addresses consumers globally with its new claim, “We live to discover,” starting this winter season. The new positioning has been developed under the brand’s CEO Richard Collier, who has held the position since December 2020. “We are now taking ...
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News briefsEvans Cycles and Cube to restart their U.K. retail partnership
Evans Cycles, part of Frasers Group, will soon restart its retail partnership in the U.K. with German bike brand Cube. The partnership had been put on pause during the pandemic due to supply chain issues, and is expected to resume later this year. It will see Evans Cycle’s physical and ...
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News briefsCirc closes $30 million financing round for new technologies, focuses on polycotton blend recycling
The U.S.-based material technologies company Circ has successfully closed a $30 million funding round in Series B funding, backed by international apparel companies and venture capital firms. The round was led by the Bill Gates-founded Breakthrough Energy Ventures (BEV) with additional investment from new partners, including one of the world’s ...
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News briefsThe Mycel Project closes $10 million funding round for new production facility
The South Korean biomaterials start-up company Mycel Project, a spin-off of the Hyundai Motor Group, has just closed a new pre-Series A funding round, raising a total of $10 million. Six main investors (a Hyundai Motor fund among them) are now involved in the company funding, most of them based ...
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ArticleThredUp loses $28 million in Q2, may lay off 15% of workforce
California-based ThredUp Inc, a company operating in the apparel resale market that also provides a platform for third-party brands, announced its financial results for the second quarter ended June 30, 2022. Revenue increased 27 percent to $76.4 million, while active buyers increased 29 percent to 1.7 million. The gross margin ...
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News briefsExtension of fundraising period for Giant officially approved
On Aug. 15, the extension of the fundraising period for Giant Manufacturing Co. Ltd.’s (Giant Group, Taiwan’s largest bicycle manufacturer) 2022 cash capital increase was officially approved by the domestic Financial Supervisory Commission. On May 26, Giant Group had already received approval from the commission for a cash capital increase ...
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News briefsVaude CEO von Dewitz appointed as member of governmental SME advisory board
Source: Vaude Antje von Dewitz The German minister for economic affairs and climate, Robert Habeck, has appointed the advisory council for issues relating to small and medium-sized businesses (SMEs) and the liberal professions for the current legislative period. Vaude’s managing director Antje von Dewitz (who has already ...
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News briefsDidriksons invests in international growth
The Swedish outdoor brand Didriksons has broken new sales records, according to ehandel.se. “We are seeing an increase of 30 percent compared to last year. This is going to be our best year ever; we had the best spring ever,” Petra Sabo, head of DTC at Didriksons, commented on the ...
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ArticleChange of ownership at family-owned bicycle supplier Stevens
Source: Stevens Stevens founders and brothers Wolfgang (left) and Werner von Hacht. As he reached the age of 65, company co-founder Wolfgang von Hacht retired from the management of Stevens Vertriebs GmbH. His 50 percent share in the German bicycle supplier, which once emerged from a Hamburg ...
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News briefsEcologyst Outfitters to acquire upcycling specialist Frankie Collective
Canadian company Ecologyst Outfitters Inc., an apparel manufacturer with an assortment of 100 percent natural fibers, announced that it has signed a definitive agreement to acquire Frankie Collective, a Vancouver-based company offering upcycled women’s streetwear made from used and unsold garments. With the acquisition of Frankie Collective, Ecologyst opens an ...
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News briefsVittoria issues €5 million sustainability bond through UniCredit
Italian bicycle tire specialist Vittoria, owned by its management and private equity fund WISE Equity, has issued through UniCredit a €5 million ESG (Environmental, Social, and Governance) sustainability-linked bond, which will help finance its investments in capacity and innovation in Thailand and Italy. The bond has a duration of six ...
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News briefsPorsche’s e-bike joint ventures with Ponooc start operations
Source: Porsche AG Jan Becker, Chairman of the Management of the Porsche eBike Performance GmbH As reported earlier, German sports car maker Porsche is looking to expand its e-bike commitment. For that purpose, two joint ventures have started their business today, which Porsche has founded ...
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News briefsCanyon receives reported $30m in new investment
Various press outlets are reporting that Canyon Bicycles has received an estimated $30 million in new capital from two investors. One is LRMR Ventures, the investment group run out of Akron, Ohio, by the NBA player LeBron James and his longtime associate Maverick Carter. (James took a minority interest in ...
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News briefsUSWE nominates Frisk for board of directors
USWE Sports’ nomination committee has proposed the re-election of Mats Jacobson, Martin Kössler, Jenny Graflind and Joel Eklund as ordinary members, Jacobson as chairman of its board of directors. Current board member Fredrik Carling has declined his re-election. In addition, Helena Nordman-Knutson and Patrik Frisk were nominated for election as ...
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News briefsLenzing partners with Red Points on IP protection
Lenzing, the global producer of wood-based specialty fibers, has announced a new partnership with Red Points, the specialist in online brand protection, to fight counterfeits and protect its customers. The partnership will help Lenzing strengthen its current brand protection efforts globally and help monitor brand services. Red Points automatically uses ...
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News briefsBike24 revises 2022 annual forecast
German bike, running and swimming sports online retailer Bike24 Holding AG has revised its previous forecast for the full year 2022 downwards due to the further deterioration in economic conditions in Q2 2022. According to the Dresden-based company, which has been listed on the stock exchange since June 2021, the ...
