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November 20, 2023 Sales at Bike Makers Merida and Ideal Plunge in Q3
Following last week’s report that revenues at the globe’s largest bike manufacturer fell by 25% last quarter, Giant Group’s smaller Taiwanese competitors also suffered significant declines. Millennials to Lead Thanksgiving Weekend Spending
Black Friday through Cyber Monday spending will be up 13% according to the latest consumer survey from Deloitte, tallying a $567 average compared to $500 in 2022, driven by Millennials moving into the top spot for average generational spend. Iconix Acquires Streetwear Label
The licensing company has acquired a majority stake in British streetwear brand Hoodrich, adding to its portfolio of brands, which includes Umbro, Pony, Ocean Pacific, and Lee Cooper. Peak Ski Company Seeks More Funding
The Bode Miller-backed ski maker has retained growth-stage investment firm Republic Group to launch a crowdfunding initiative to fuel growth and innovation. New Balance Breaks Ground at NH Factory
NB began construction of its 102,000-sq.-ft. Londonderry, NH, factory, its first in the state and its sixth U.S. footwear manufacturing facility. Sporting Goods Companies Sued Over East Side Mark
A dozen sporting goods companies, e-tailers and print-on-demand marketplaces, including New Balance, Lacoste, Amazon, Zumiez, Redbubble, and others, are being sued by Stephanie Reveron in S. NY district court, for infringing on her Lower East Side, LES, and LES NYC marks on apparel. Etcetera: Kohl’s, VF Corp., Ciele, Tecnica, OR, Xero Shoes, Buck Knives, Dick’s, Delta
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