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In The News: Darn Tough Vermont, Oomphies, K-Swiss

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This week, sock brand Darn Tough Vermont announced it has hit the 1 million mark of meals donated to the Vermont Foodbank. The relationship kicked off in 2003 with Darn Tough donating turkeys to feed the community. In 2017, the partnership took the next step when Darn Tough began offering 100% of their online proceeds from Giving Tuesday to the Vermont Foodbank. Darn Tough has continued its community and giveback commitment over the last four holiday seasons, as well as additional days of giving, which brings the total amount of meals donated over their nineteen year commitment to 1 million, the brand said.


Toddler and kid footwear brand Oomphies is adding to its sales team as it aims to continue its brand expansion into new retail opportunities and beyond. New sales reps include footwear industry vets Bud Barcroft, Sharon Shipman and Craig Teed.


K-Swiss is partnering with NFT creation house Walt Grace Digital to release “Instant Classic” — a non-fungible token (NFT) in celebration of the brand’s 55th anniversary and introduction into the digital space. The launch will include both a physical and digital asset in one. The K-Swiss x Walt Grace Digital “Instant Classic” NFT will be in the globally accepted format of an ERC-1155 Smart Contract on the Ethereum (ETH) blockchain as a digital variation of the brand’s 55th Anniversary, limited-edition Classic ’66 sneaker. There are only 55 shoes available, with an initial sale price of $350. The brand says it plans to offer a wider assortment of NFTs going forward.


Allbirds, in its first earnings release since going public on Nov. 5, announced a 33 percent increase in Q3 revenues to $62.7 million and a net loss of $13.8 million for the period ended Sept. 30. The San Francisco company is forecasting 23-24 percent year-over-year revenue growth in 2021 to a range of $270-272 million. The company received $252.8 million in IPO proceeds.


Kohl’s reported that Active accounted for 26 percent of its Q3 sales, led by Nike, Under Armour, Adidas and Champion and including its own TEK Gear and FLX brands. The retailer is continuing to grow its outdoor business through building sales momentum for Columbia and Land’s End branded products and the Q3 launch of the Eddie Bauer label.