August 23, 2021
The fast-growing Swiss sneaker company filed an F-1 registration statement with the SEC for an initial public offering in the U.S., revealing that revenues grew 59% in the pandemic year to CHF 425.3 million.
Net income at the Chinese sportswear brand grew 67% to RMB 421.7 million ($64.9 mm) from RMB 252.4 million for the half ending June 30 as revenues saw a 12% gain to RMB 4,134.9 million ($636.8 mm) over RMB 3,679.1 million.
The footwear maker returned to profitability in the first half of 2021, reporting net income attributable to shareholders of $31,132,000 against a loss of $5,247,000, on 36% higher revenues of $695,465,000 up from $511,474,000.
Japanese sneaker platform Soda, which operates the SNKRDUNK sneaker resale marketplace, raised ¥6.2 billion yen ($56.4 mm) in a Series C funding, bring its total funding raised to about ¥8.7 billion.
The 27-year company veteran, most recently EVP of global production at the Danish footwear brand, succeeds Steen Borgholm, who stepped down on Aug. 20 “by mutual agreement” after four years as CEO.
The employee-owned outdoor portfolio company elevated Scott Blackwell, currently Outtech’s president, to chief executive officer, where he will oversee all operations and strategy, including its marketing services businesses and new market/consumer research arm.
The socially and environmentally active apparel company told local news outlet WyoFile that it would no longer sell to the resort’s retail stores, after one of its owners hosted a Republican fundraiser.