April 17, 2023
The Dutch conglomerate Pon.Bike division grew revenues 85% in 2022 to €2.4 billion ($2.5 bb) helped considerably by the addition of revenues from the former Dorel Sports bike brands, which it acquired at the end of 2021 for $810 million.
A 96% stock price drop from Q4 2021 heights at the eco-minded footwear manufacturer has prompted a shareholder to file a federal lawsuit in the Northern District of California, accusing the company of making false and misleading statements in its Nov. 2021 prospectus and SEC registration statement which hid structural flaws in its business.
The lulunatics are exploring a sale of Mirror, which it acquired for $500 million almost three years ago, according to a report in Bloomberg citing sources familiar with the matter.
YY’s locally established Indian subsidiary, The Project Company, has inked a memorandum of understanding with the Tamil Nadu government to invest about 23 billion Rupees ($276 mm) in a new production facility there.
The Chinese sportswear brand’s first quarter revenues grew low-teens year-over-year, led by approximately 35% growth in e-commerce sales.
TLYS appointed Laura Janney as EVP, chief merchandising officer, effective May 8, where she’ll oversee buying, sourcing, product development, and coordinate merchandise experiences both in-store and online.