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Dick's Sporting Goods renews multiyear partnership with the WNBA

Dick's Sporting Goods has renewed its partnership with the Women's National Basketball Association (WNBA. The two announced a multi-year partnership extension on July 1, which originally began in Fall 2021. Following the renewed partnership, Dick's will continue to act as the Official Sporting Goods Retailer and an Official Marketing Partner of...

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CLO Virtual Fashion acquires digital materials provider Swatchbook

CLO Virtual Fashion, the parent company of 3D fashion design software CLO, has acquired Swatchbook, a digital materials solutions provider. Through the takeover, CLO said it is now positioned “as the largest digital fabric database company in the world”. The deal between the two companies builds on an existing relationship that the duo first...

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Eurozone inflation marginally rises to 2 percent

Eurozone inflation rose slightly in June. The annual inflation rate rose to 2.0 percent, the Eurostat statistics office announced in Luxembourg on Tuesday, according to an initial estimate. In May, the inflation rate had fallen to 1.9 percent. Economists had, on average, expected this slight increase. Inflation in the Eurozone is thus in line...

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Amazon 'applauds' Canada's scrapping of tech tax

Amazon said Tuesday it "applauds" Canada's decision to scrap its digital services tax in order to salvage trade talks with the United States, calling it a win for the online retailer's customers. The digital services tax, enacted last year, would have seen US technology giants such as Amazon on the hook for a multibillion-dollar payment in...

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Family office invests in Balibaris to write new chapter

"A new chapter is opening for Balibaris," announced Paul Szczerba, president of Balibaris, in a message published on LinkedIn on Tuesday, July 1. The French menswear brand, with its Parisian elegance, formalises the entry of a French family office into its capital. Behind this discreet but eminently strategic operation, founder Szczerba confirms...

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Altri strengthens its expansion in sustainable textiles with acquisition of AeoniQ

Portugal-based Altri, a producer of sustainably certified cellulosic fibres, is making a significant move into the textile industry by acquiring a majority stake in AeoniQ, a Swiss firm backed by the HeiQ group. This acquisition includes a capital increase and marks a decisive step in Altri’s diversification strategy. For several years, Altri...

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Safilo becomes eyewear licensing partner of Victoria Beckham

Italian eyewear group Safilo and Victoria Beckham, creative director and founder of the eponymous fashion label, have signed a new licensing deal. The ten-year agreement covers the development, production and distribution of Victoria Beckham eyewear collections, and runs until the end of December 2035. The entire product line, which includes...

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Moda Management partners with Rept to bring fashion collaborations to athletes

Moda Management Global, the agency specialising in creative fashion talent management, is teaming up with sports management agency Rept, which represents some of the world’s top female footballers to secure fashion partnerships for its roster of athletes. The move will see Moda creating opportunities in fashion for Rept’s roster, which includes...

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Caleres secures amended credit agreement ahead of Stuart Weitzman acquisition

US footwear company Caleres has secured an amendment of its existing credit agreement, extending its senior secured asset-based revolving credit facility to June 2030. The deal comes ahead of the company’s acquisition of fellow footwear label Stuart Weitzman, which it is intending to take off the hands of luxury giant Tapestry. Through the...

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Big 5 Sporting Goods to go private as part of 112.7 million dollar acquisition

US retailer Big 5 Sporting Goods Corporation is preparing to go private after entering into a 112.7 million dollar merger agreement to be acquired by Worldwide Golf and Capitol Hill Group. The deal, which includes around 71.4 million dollars in credit line borrowings and is subject to terms, will see Big 5 shareholders receive 1.45 dollars per...

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Mango invests in The Post Fiber, to incorporate recycled fibres into collections

Spanish fashion giant Mango has stepped in as the “first major brand” to invest in The Post Fiber. The start-up manages and recycles post-consumer textile waste to be used in the production of new fibres for the creation of garments. Made via Mango StartUp Studio, the brand’s start-up accelerator, the funding intends to contribute to Mango’s...

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Lululemon accuses Costco of IP infringement in new lawsuit

Lululemon has filed a lawsuit against Costco Wholesale Corp. accusing the wholesale retailer of infringing on its intellectual property (IP). According to the Canadian sportswear giant, Costco is selling knockoffs of six of its signature products, including its Scuba hoodies and sweatshirts and ABC pants. In the 49-page lawsuit, filed with a...