Representative image Mumbai: From running shoes and joggers to dumbbells and yoga mats, sales of nearly half a dozen leading sports brands have sprinted in the past two years, during the pandemic and since. They have doubled business in India, driven by increasing awareness about fitness and surging demand for athleisure wear. Brands such as…
Nike is starting to lose share to upstart sneaker brands such as On and Hoka and will need to invest in fresher styles, analysts said on Friday, after the sportswear giant trimmed its annual sales forecast and sent shares tumbling 11%. The Air Jordan 1 shoe maker mainly blamed cautious consumer spending for the downbeat…
Nike on Thursday trimmed its annual sales forecast blaming cautious consumer spending, a weaker online business and more promotions, and said it plans to cut supplies of key product lines to manage costs, sending its shares down 11%. The company said it was seeking $2 billion in savings over the next three years through steps…
Representative image LONDON: Frasers, the British sportswear and apparel retailer controlled by Mike Ashley, has bolstered its presence in the luxury space by buying loss-making online player MATCHES from Apax Partners, paying about 52 million pounds ($66 million). MATCHES offers products from more than 450 designers and generates the majority of its revenue internationally, with…
The premium footwear industry selling designer, luxury labels and high-end sports shoes is in turmoil as manufacturers say consumers may not be able to buy the new spring-summer season launches. The footwear could go off retail shelves in the next few months as the Bureau of Indian Standards (BIS) has not certified their factories in…
MOSCOW: A Russian distributor of Western sports brands will start selling Adidas and Reebok products as soon as this week, despite the companies’ departure from the market over the war in Ukraine, the Kommersant daily reported on Wednesday. Adidas and Reebok were among hundreds of Western companies that decided to suspend business operations in Russia…
An employee irons a garment at a textile factory in Istanbul, Turkey, November 15, 2023. REUTERS/Umit Bektas Ceyda Caglayan ISTANBUL, – Turkish clothing manufacturers, the third-largest suppliers of apparel to Europe, face higher production costs and risk falling further behind their Asian rivals after the government hiked taxes on textile imports, sector leaders say. Ankara…
Surging demand for fitness wear and sports equipment for disciplines other than cricket and football helped Decathlon‘s India unit expand sales 37% to Rs 3,955 crore in FY23. With more than 100 large, warehouse-like stores selling products catering to 85 sporting disciplines, the French company is bigger than Adidas, Nike and Asics all put together…
Hanoi: One of Vietnam’s largest shoemakers for brands such as Nike, Adidas and Reebok will cut jobs for the third time this year, state media said Wednesday, citing a lack of orders. The Southeast Asian country is among the world’s largest exporters of clothing, footwear and furniture but its economic growth has been slow in…
Bata India is in talks with Adidas for a strategic partnership that could likely boost the German sportswear maker’s presence in the south Asian country, CNBC-TV18 reported on Thursday. Bata India’s shares ended 5.3% higher, logging their best day since April 2020. Shares rose as much as 7.3% earlier in the session. Adidas was up…
