The sporting gear company Under Armour has been shedding sponsorship deals over the past year, and now we know how deep the cuts have gone. Under Armour Inc. released its annual report in late February, which shows the company slashing its sponsorship spending by an astounding 47 per cent in a single year. The cuts reduce Under Armour’s spending on sponsorships from $679.1 million in 2019 down to $361.6 million in 2020. Under Armour’s CFO David Bergman explained the move on the company’s fourth quarter earnings call, saying it’s all about getting more bang for the marketing buck. “That allows us to have a bigger war chest, to be nimble on a marketing front going forward and making sure we’re deploying that marketing in the areas of highest return,” Bergman… . . . read more
TreImage Adds BALL’N Lifestyle Brand To Its Roster
The Marketing and Licensing Agency TreImage, LLC continues to gain street cred with the addition of the BALL’N brand to its roster. “BALL’N is very pleased to announce our new partnership with Trelmage.” said Rod Jeter, founder of the BALL’N brand. “Charles and his team have a proven track record as a successful licensing agency. This partnership, being formed by two successful black-owned businesses during Black History Month, is very special for myself and BALL’N, as it represents a giant step forward in building our own table.” Rod Jeter is a Chicago native who attended Wichita State University and began his career in 1991 after serving time in the US Army. The idea that someone could launch a clothing company while serving in the Army might see counter-intuitive, but Jeter… . . . read more
Gucci and The North Face Go Hiking In Style
You don’t usually equate Gucci with camping, but the luxury brand is going outdoors in a big way this year, partnering with adventure wear company The North Face. Consumers have headed to the great outdoors in droves this year, thanks to lockdowns and physical distancing measures, so Gucci figured, if you’re going out hiking, you might as well look fabulous doing it! The luxury brand has teamed up with The North Face on a new collaboration which aims to celebrate the ‘spirit of exploration’, with a collection that launched on Jan. 4. “This special cross-category of collection for men and women comprises ready-to-wear soft accessories, luggage and shoes, as well as some unexpected pieces linked to the outdoor world of The North Face, such as tents and sleeping bags,” says… . . . read more
Fanatics & Lids Reach Long-Term Deal With BNED
The sports merchandise company Fanatics has added to its long list of critical deals in 2020 with a long-term merchandising partnership with Barnes & Noble Education Inc. (BNED), the campus store division of the Barnes & Noble parent company. Fanatics will offer BNED campus stores an expanded product selection and a direct-to-consumer platform. Fanatics’ partly-owned Lids will also provide BNED trend and sales performance data on licensees, product styles and design treatments from more than 1,200 Lids stores. As well, Fanatics and Lids will jointly make a $15 million strategic equity investment in BNED and receive 2.3 million shares of BNED in exchange, representing a share price of $6.50 per share. BNED expects to use these proceeds for its strategic growth initiatives. BNED is a college retailer that was spun off from bookseller… . . . read more
Licensed Back-to-School Sales Expected to Rise 2.0% in 2020
Licensed back-to-school sales are expected to climb to $9.6 billion in the U.S. and Canada, according to The Licensing Letter’s estimates. With licensed retail sales up 2.0%, or $188 million, the back-to-school season is expected to help bolster recovery…
On Notice: Sportswear, Organics & Bankruptcy Updates
Puma comes under fire from In-N-Out Burger while Addidas can’t shake a suit, the Organic Trade Association fights fraud, Gymboree’s assets are snapped up, and GMM and Hearst reveal their plans for Defy Media’s brands…
Celeb Watch: Lifestyle, Fitness & Fashion
The latest on Jane Fonda; Cindy Crawford, LeBron James, Arnold Schwarzenegger, and Lindsey Vonn; Amy Schumer and Leesa Evans; Jessica Simpson; and more…
Roundup: Sports & Sportswear News
Play ball with new developments from the NFL, MGM Resorts, Caesars Entertainment, NCAA, Epic Games, WWE, FIFA, Hibbett Sports, Canada Goose, and more…
Fashion Track: Sneakers, Apparel & Fitness
The latest deals from ABG/Invictus, Cartoon Network, Jordan Brand/Vogue, LaurDIY, Differential Brands Group, Level Brands, the Pokémon Co. Intl., and more…
M&A Watch: Fashion Forward
Mergers, acquisitions, and partnerships in the fashion space.
Featuring: ABG, Concept One, Nine West, Sequential Brands, Hudson’s Bay, and more…