Nike said on Thursday that former senior executive Elliott Hill will rejoin the company to succeed John Donahoe as president and CEO, as the sportswear giant shakes up its leadership amid efforts to revive sales and battle rising competition. The company’s shares rose 8% in after-hours trading. Hill was at Nike for 32 years and…
New Delhi: Former Puma India-MD Abhishek Ganguly, who last year acquired B2B sports footwear manufacturer Mochiko under his athleisure wear startup Agilitas Sports, plans to double Mochiko’s production capacity over the next 3-4 years. Talking to ETRetail, Ganguly shared that the company is building a large facility for Mochiko in Noida which is expected to…
New Delhi: French sports retailer Decathlon has announced a significant investment of 100 million euros (approximately Rs 933 crore) in India over the next five years. The investment will fuel Decathlon’s expansion from 127 to 190 stores, enhance its digital engagement, strengthen the value chain and boost its make-in-India portfolio. Currently, 68 per cent of…
New Delhi: Reliance Retail plans to extend Superdry into the athleisure segment which will place it in direct competition with leading sportswear brands like Nike, Adidas and Asics. Last year, the British fashion brand had inked a joint venture agreement with Reliance Brands for the sale of Superdry’s intellectual property assets in India, Sri Lanka,…
Representative photo In a move that’s expected to make winter wear, athleisure, sportswear and bottom wear cheaper, duties have been cut on real down-filling material from ducks and geese, widely used in winter wear, along with those on methylene diphenyl diisocyanate (MDI) used for making spandex yarn. Govt has cut the basic customs duty on…
Representative image German sportswear maker Adidas is increasing its full-year earnings guidance after a better than expected second quarter, it said on Tuesday, in its second upgrade this year. The success of the company’s low-rise multi-coloured Samba and Gazelle sneakers, along with weaker sales at rival Nike , had been expected to help Adidas to…
Representative image The success of Adidas‘ low-rise multi-coloured Samba and Gazelle sneakers, along with weaker sales at rival Nike, should help the German sportswear brand deliver strong second-quarter sales and its biggest profit margin in three years. Nike forecast a surprise drop in annual sales at the end of June, adding to investor worries about…
(Representative Image) Nike reported higher profits due to cost-cutting efforts Thursday, but shares fell sharply on the company’s tepid outlook despite a hoped-for boost from the upcoming Olympic Games. The sports giant, which has been criticized in recent times over a lack of innovation and strategic stumbles, reported a dip in quarterly revenues as executives…
A return to growth in the Americas helped Puma meet first-quarter sales forecasts and its order book for the rest of the year was looking “very good”, the German sportswear retailer said on Wednesday, helping lift its shares nearly 12%. Revamped and newly trendy shoes from the 1970s and 80s like Puma’s Palermo and Adidas’…
New Delhi: Sports retailer Decathlon has appointed Sankar Chatterjee as its new India Chief Executive Officer. According to Chatterjee’s LinkedIn profile, he resumed the role of the company CEO in February 2024. Chatterjee who has been associated with the brand for over 13 years, earlier held the position of Country Digital Leader for Decathlon Sports…
