News Briefs – Page 99
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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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News briefsNite Ize announces six outdoor brands to integrate Tru Zip into their products
Source: Nite Ize Tru Zip Nite Ize announced that six outdoor brands are to integrate its Tru Zip product technology, a fully water and dust-proof, toothless sliding zipper made in the U.S. and patented in 2019, into their styles: Simms Fishing, Hydro Flask, Fishpond, CamelBak, Booe and ...
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News briefsSolo Brands generates 53 percent increase in Q2 sales
Solo Brands, a direct-to-consumer-focused company that currently owns four lifestyle brands, reported a 53 percent increase in second-quarter earnings to $136.0 million from $88.7 million for the period ended June 30. The revenue gain was driven by acquired businesses and higher DTC and wholesale channel revenues. DTC sales rose 63 ...
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News briefsTrek acquires two more U.S. retail chains
Trek Bicycle Company is acquiring two chains in the U.S., American Cycle & Fitness and East Coasters Bike Shops. The deals will raise its store total to 35. These will be the company’s fourth and fifth acquisitions this year, after the 21 stores of David’s World Cycle (April), the two ...
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News briefs
Ranra wins Zalando's Sustainability Award
Zalando has announced Ranra as the winner of its fourth Zalando Sustainability Award in partnership with Copenhagen Fashion Week, the largest fashion week in the Nordic region held biannually in January/February and August. The award, which was introduced in February 2021, recognizes strategies that contribute to a more sustainable industry ...
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News briefsGlobal study by Recurate shows demand for brand-owned re-commerce offerings
The U.S.-based resale platform provider Recurate, founded in 2020, has conducted a new re-commerce study in eleven markets worldwide, together with social impact agency BBMG. To understand consumers’ pre-owned product shopping habits, the company has surveyed a mix of non-active and active e-commerce shoppers. First and foremost, the study finds ...
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News briefsCotopaxi becomes a member of 1% for the Planet
U.S. outdoor brand and certified B Corp Cotopaxi announced its membership in 1% for the Planet, reaffirming its commitment to donate 1 percent of sales to certified nonprofit organizations working to improve human living conditions. Since its inception, Cotopaxi has already donated 1 percent of its sales to nonprofit partners ...
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News briefs1% for the Planet releases annual report 2021, growth in members and donations
In its 2021 annual report, 1% for the Planet looks back at the environmental projects carried out worldwide and provides insight into its financial situation. In 2021, the network saw growth in members, certified donations and supported nonprofits. Specifically, the organization reported a 25 percent increase in corporate members, resulting ...
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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 briefsNyrensten steps down as CEO of RevolutionRace
Source: RVRC Holding Pernilla Nyrensten, former CEO of RevolutionRace RVRC Holding (RevolutionRace) has announced changes to its leadership team. Pernilla Nyrensten is stepping down as CEO at her own request. She will continue as an active member of the board of directors, focusing in particular on brand ...
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News briefsHoka launches UTMB augmented reality experience
Ahead of the 2022 Ultra Trail du Mont-Blanc (UTMB) in Chamonix (Aug. 26), Hoka has launched an interactive AR experience to immerse supporters in the magic race moments of Mont Blanc. Designed by AR specialist agency Green Room, the series of on-site 360° interviews and location captures ...
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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 briefsSchwan-Stabilo employees finish 84,637km in charity sports challenge
The employees of the Schwan-Stabilo group (staff of Deuter, Ortovox, Maier Sports and Gonso being among them) have mastered the first global Schwan Sports Challenge, a charity project that supports initiatives for clean drinking water and reforestation. All Schwan-Stabilo sites lined up in a row make up a distance as ...
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News briefsBluesign implements sustainability attributes for approved chemical products in its Finder
With a new element integrated into the Bluesign Finder listing of Bluesign-approved chemicals, the Swiss certification platform aims to improve the transparency of data associated with listed chemical products. In addition to the existing functionality within the Finder, Bluesign System Partner suppliers can specify selected sustainability assets for their approved ...
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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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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 briefsMammut releases ESG report, covering 2021 achievements and future goals
In the company’s first sustainability report, Mammut provides an update on the social and ecological efforts along its supply chain in 2021. Mammut has been an EOCA member since 2006 and a founding member of the UN Fashion Industry Charter for Climate Action. Since 2008, the brand has been audited ...
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News briefsArc’teryx opens first stores in Yunnan with Songtsam
Luxury boutique hotel group Songtsam has announced the opening of the first two Arc’teryx / Songtsam stores in Yunnan, a province in the southwest of the People’s Republic of China. One is the Arc’teryx Mountain Classroom Shangri-La Center, located in the Songtsam Linka Retreat Shangri-La. The second store is located ...
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News briefsVista closes acquisition of Fox Racing
Vista Outdoor announced the closing of its acquisition of California-based Fox Racing for the purchase price of $540 million, with the potential for an additional $50 million earnout based on Fox Racing’s financial performance (OIC reported earlier). The addition of Fox Racing allows Vista Outdoor to add another category-leading brand ...
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News briefsEscapa opens Madrid’s largest bike store
The Spanish cycling chain Escapa has just opened the largest bike shop in both the city and the autonomous community of Madrid, according to CMDsport. Owned and operated by Quadis, which describes itself as Spain’s largest network of automotive dealers and repair shops, Escapa has, over the past few years, ...
