In The News: K-Swiss, Vuori, Foot Locker, Nike
K-Swiss has released its third limited edition collection with Venus Williams. The Retro by Eleven x K-Swiss line features more than a dozen pieces of ’70s-inspired active apparel as well as footwear, including the $80 K-Swiss Tubes Comfort 300 x Eleven by Venus Williams footwear in Gardenia, Peacoat and Lapis Blue.
Vuori, the six-year-old, technical activewear brand, has secured a $400 million investment from SoftBank Vision Fund 2 that values the Encinitas, CA private apparel company, which says it has been profitable since 2017, at $4 billion. Vuori plans to expand internationally in 2022 with omnichannel in key Western European and Asia-Pacific markets and a Taiwanese innovation center. In the U.S., the brand, founded by CEO Joe Kudla, intends to open more than 100 doors over the next five years.
Foot Locker is launching a new private label collection, LCKR, today at its stores worldwide and online. Additional LCKR collections will be released through the end of 2021 and in 2022, including in Canada. Retail prices for pieces in the LCKR collection range between $40-75. The retailer describes the fleece pullover hoodies cargo pants and other items as an “elevated basics line” that merges sneaker and sport culture with the heritage of the Foot Locker brand and focuses on style and comfort.
Nike is among four investors, including Epic Games, Redbird Capital Partners, and the owners of the MLB’s Boston Red Sox, that has invested in The Springhill Company. Springhill is a consumer and entertainment business created by the NBA’s LeBron James and his business partner Maverick Carter. With the investments, which value Springhill at approximately $725 million, James will remain Chairman and Carter as CEO. The cash infusion will assist Springhill, forecast to eclipse $100 million in annual revenues over the next 12 months, to develop more ideas in-house and subsequently them versus seeking financing up front.
Junk Food Clothing says it’s on target to triple its online sales after moving to Nogin’s ecommerce platform in Q4/20. The change also helped increase the Los Angeles company’s profits and conversion rates. Nogin, based in Tustin, CA, handles all aspects of Junk Food’s ecommerce operations via its turn-key solution. Its clients include Kenneth Cole, Hurley, lululemon and True Religion.
PrimaLoft’s first consumer-orientated brand campaign, “Seek the Unseen,” debuted last week and focuses on the unexpected, emotional moments of everyday life that often go unnoticed. “While we may be hidden from sight, we have a direct effect on the consumer experience,” explains Mike Joyce, president and CEO of PrimaLoft, describing a phenomenon that textile ingredient brands can relate to. Most consumers don’t realize the brand is responsible for the functional, and environmental, benefits these “unseen” technologies deliver. PrimaLoft looks to change that with it’s new “Seek the Unseen” campaign, and its centerpiece video spot that educates as well as entertains: Seek The Unseen.