First decline in eight years for the Norwegian sporting goods market
After eight years of steady growth, the Norwegian sporting goods market has recorded a decline in sales. In 2011, turnover was approximately NOK 11.5 billion (€1.5bn-$2.1bn) at retail, a small decline of 0.2 percent compared with 2010. Still, the market has grown by over 60 percent since 2004. The weather was one of the decisive...
Major golf alliance against counterfeits in the U.S.
Six golf vendors have taken joint legal action against websites in the U.S. that mainly target the state of Florida. The brands or companies that appear as plaintiffs are Ping, TaylorMade, Acushnet, SRI Sports, Cleveland and Callaway in this U.S. federal lawsuit against web-based retailers such as wholesalegolfplace.com, golfbestwholesale.com and others. The plaintiffs call their...
Karstadt wants to slim down to get back on track
Andrew Jennings, chief executive of Karstadt, told Financial Times Deutschland (FTD), that the department store chain is serious about reducing its offer by shutting down some of its segments (including electronics) as well as a smaller offer of fashion. While Jennings did not say much about sporting goods in particular, he is devoted to checking...
Chinese sports brands under pressure
Anta Sports, one of the leading sports brands in China, raised its sales by 20.2 percent last year, but the company is warning that the market is under pressure, with overcapacity and increased discounting, which are calling for a more cautious approach in retail expansion… At the same time, China Dongxiang, the company that owns...
Callaway has a new leader
Callaway Golf, which has been suffering continued sales declines and losses in recent times, has a new president and chief executive to spearhead its expected turnaround. The company’s board of directors picked Chip Brewer to take on the role from March 5 onward after reviewing more than 50 candidates for the post. Brewer has a...
Billabong rejects takeover offer
Billabong International’s board of directors announced today that it has rejected a revised takeover offer by TPG Capital, a subsidiary of Texas Pacific Group. The new proposal calls for the same indicative price of 3.00 Australian dollars per share that the American equity fund had offered before Billabong came out with a new strategic plan...
ISPO BEIJING sees 38% leap in attendance
More companies have signaled their intention to participate in next year’s edition of ISPO BEIJING as its four-day session last week ended up with big increases not only in terms of exhibitors, but also in attendance. No less than 24,500 visitors (daily visits) came to the China National Convention Center, near the Bird’s Nest which...
Michael Jordan sues Chinese firm
Michael Jordan, the American basketball legend, is suing Qiaodan Sports Company of Chinafor using his name. The term “Qiaodan” is the name Jordan has been known by in China since he first became known there, when he played for the U.S.team in the 1984 Olympics. Jordan said in a statement that over the years he...
Crocs reaches the $1 billion target
John McCarvel, president and chief executive of Crocs, is delivering a marvelous brand story: A 14 percent sales increase in the fourth quarter helped Crocs to break the magic $1 billion threshold for its annual turnover in 2011. Total revenues jumped by 27 percent for the year to 1,000,903. Net income almost doubled, reaching a...
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