April 11, 2023 Industry Brands Lead in Resale, as Teen Interest Grows
Athleta, Lululemon, Patagonia, REI and Merrell are among the leading brands in a global secondhand market set to nearly double to $350 billion by 2027, according to the 2023 Resale Report from secondhand e-commerce platform ThredUp. Tonal Closes Down Round, Names New CEO
The struggling connected strength training platform raised $130 million in a new funding round at a valuation that was likely significantly lower than its last round in 2021. Authentic Brands Will Convert Boardriders to a Licensed Model
As the deal moves forward, ABG has signed a definitive agreement to purchase the parent of board sports brands including Quiksilver, Billabong, Roxy, and DC Shoes. Pure Fishing Downgraded Again as Leverage Soars
Moody’s cut the corporate family rating and senior secured first lien term loan rating of Pure Fishing parent SP PF Buyer LLC to Caa2 from Caa1, and maintained its negative outlook on the company. Xtep Q1 Sales Surge on China Re-opening
The Chinese sportswear brand rebounded in the first quarter of 2023 after a weak Q4, reporting that retail sell-through increased around 20% year-over-year, including both stores and online channels. Designer Brands Relaunches Keds
DBI, which paid $90 million to Wolverine Worldwide for the iconic women’s and kids’ sneaker brand in Feb., unveiled a brand refresh including an updated logo and new messaging, along with several updated styles. Moody’s Weighs in on Wahoo Fitness
Echoing S&P’s downgrade of the bike training equipment company last week, Moody’s slashed its corporate family rating rating and senior secured first lien credit facility rating Ca from Caa3. Revel Bikes Names President and COO
The bicycle maker has tapped Ben Coats as president and COO to run day-to-day operations and expand the company’s market. What The Fin Apparel Appoints and Promotes Four
The Greenville, SC-based lifestyle apparel brand announced two new hires, naming Marcella Franseen as director of operations and Dalton Coker as chief of staff.
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