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☆ Nike and Adidas veterans are backing a $125M project seeking to revitalize the Portland sportswear industry
▼ + stars: | 2024-09-19 | by ( John Kell | ) www.businessinsider.com time to read: +10 min

The Northeast is the ancestral home of footwear manufacturing in the US, where New Balance still assembles more than 4 million pairs of sneakers each year. But that could soon change with a plan for a $125 million development campus called Made in Old Town. At the federal level, the US government has offered billions in subsidies to support manufacturing, mostly targeting the auto, semiconductor, and solar industries. With the Made in Old Town project, the aim is to generate about 6,000 full-time jobs in Portland by as soon as 2028. A long way to goThe Made in Old Town project is still in its early stages, having raised $15 million of its $125 million goal.

Persons: Portland's, Hilos, —, Keen, Elias Stahl, Portland's Hilos, Stahl, they're, Eric Liedtke, Liedtke, They've, Alo, Armour, Tina Kotek, Noel Kinder, Nike's, Kinder Organizations: Technology Association of Oregon, Chain Management, Service, Nike, Adidas, Bureau of Labor Statistics, Factory, Brands, Columbia, Midwest ., Gov Locations: Old Town, Portland , Oregon, Columbia, Portland's Old, Portland, Vietnam, China, Asia, Old, Germany, North America, Atlanta, Midwest

☆ Under Armour shares surge 20% after posting 'better than feared' quarterly sales
▼ + stars: | 2024-08-08 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +6 min

Under Armour apparel is displayed at a Dick's Sporting Goods store on May 16, 2024 in Petaluma, California. Under Armour on Thursday said sales are falling across its business, but the athletic apparel retailer posted better fiscal first-quarter results than feared, sending its stock surging in early trading. Under Armour previously expected full-year earnings of 2 cents to 5 cents per share, and adjusted earnings between 18 cents and 21 cents per share. The athletic apparel company is in the midst of a broad restructuring plan as it fights to regain relevance, reverse a sales slump and boost profits. Apparel revenue fell 8%, footwear sales dropped 15% and accessories revenue slid 5%.

Persons: Armour, It's, Stephanie Linnartz, Kevin Plank, Plank, Eric Liedtke, Eric, …, William Blair, Armour's Organizations: Sporting Goods, LSEG, Marriott, Armour's, Apparel, Adidas, UA Locations: Petaluma , California, North America

☆ The Adidas team working with Kanye West was given subscriptions to a meditation app and regularly had group-therapy-like sessions to deal with the stress
▼ + stars: | 2023-10-27 | by ( Alex Bitter | Grace Eliza Goodwin | ) www.businessinsider.com time to read: +3 min

Kanye West was reportedly so difficult to deal with that it took a toll on the Adidas team working with him. A New York Times investigation found that the team had to have group therapy-like sessions to deal with the stress. AdvertisementAdvertisementMembers of the Adidas team working with Kanye West were given a subscription to a meditation app and regularly had group therapy-like sessions to deal with the stress of working with the rapper, a New York Times investigation found. They were also given a subscription to a meditation app and regularly held group therapy-like sessions, the outlet reported. In 2013, the year that Adidas and Ye unveiled their partnership, the brand's sales in North America were down 1%.

Persons: Kanye, —, Ye, Hitler, Eric Liedtke, Liedtke Organizations: Adidas, New York Times, West, Service, Kanye, Times, TMZ Locations: North America

☆ How this former Adidas executive is tackling the biggest problem in footwear with biodegradable sneakers
▼ + stars: | 2023-03-10 | by ( Matthew Kish | ) www.businessinsider.com time to read: +5 min

"It's a first of its kind," Liedtke told Insider. The Unless shoe, which retails for $139, was made in partnership with Natural Fiber Welding, which makes various materials from natural products, including plants and minerals. Jonathan Leibson/Getty Images for ADIDAS"This is a game changer," industry analyst and ARCH-USA founder Chris Burns previously told Insider. "What's unique about what Eric has done in the footwear industry is paid attention to every single component of the shoe," Natural Fiber Welding President Steve Zika previously told Insider. Last April, Natural Fiber Welding announced an $85 million Series B investment round.

☆ Hate fast fashion? You can compost this new streetwear clothing line
▼ + stars: | 2023-01-23 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +3 min

Fast fashion is big business, but it is also a big polluter, responsible for about 10% of global carbon emissions. Roughly 70% of the $3 trillion fashion industry is comprised of articles made from synthetics or petrochemicals. While some companies are claiming sustainable clothing lines, there is a very wide variance in what that means. For some the carbon reduction is in the manufacturing, while for others it is in the clothing itself. They're all made from 100% plant-based nutrients like recycled cotton, hemp, plant-based leather and coconut fiber, according to the company.

☆ How streetwear brand Unless Collective aims to accomplish what brands like Nike and Adidas haven't — fully sustainable sneakers and apparel
▼ + stars: | 2022-12-03 | by ( Matthew Kish | ) www.businessinsider.com time to read: +7 min

Unless Collective T-shirts Courtesy Unless CollectiveNo "forever materials"While companies like Adidas and Nike have pledged to use more recycled polyester this decade, Liedtke said Unless Collective doesn't use any polyester in its products. At end-of-life, a tag sewn inside each Unless Collective product gives directions on how to return it. The company's working with an industrial composter in California that can make "nutrient rich soil" out of the company's old hoodies and T-shirts. Like other plant-based apparel companies, Unless Collective has had to completely rethink its supply chain. Instead of relying on factories in Asia, Unless Collective manufactures its jackets in Portugal, T-shirts in the Carolinas in the US, and hoodies in Los Angeles.

☆ The exec behind Adidas' partnership with Kanye West just released a biodegradable sneaker expected to be a 'game changer' for the industry
▼ + stars: | 2022-12-01 | by ( Matthew Kish | ) www.businessinsider.com time to read: +5 min

The Unless shoe, which will retail for $139, was made in partnership with Natural Fiber Welding, which makes various materials from natural products, including plants and minerals. While other brands, including Allbirds and Camper, have worked with Natural Fiber Welding, Unless is the first to build a shoe from top to bottom with its materials. "What's unique about what Eric has done in the footwear industry is paid attention to every single component of the shoe," Natural Fiber Welding President Steve Zika told Insider. In April, Natural Fiber Welding announced an $85 million Series B investment round. Its investors include industry giants such as Ralph Lauren and Allbirds.

☆ Adidas' former brand president says streetwear needs a 'Tesla-like moment' to move the industry beyond plastics. His startup now aims to accomplish what brands like Nike haven't.
▼ + stars: | 2022-10-11 | by ( Matthew Kish | ) www.businessinsider.com time to read: +6 min

Liedtke recently cofounded Unless Collective, which makes plant-based streetwear. At end-of-life, a tag sewn inside each Unless Collective product gives directions on how to return it. The company's working with an industrial composter in California that can make "nutrient rich soil" out of the company's old hoodies and T-shirts. Instead of relying on factories in Asia, Unless Collective manufactures its jackets in Portugal, T-shirts in the Carolinas in the US, and hoodies in Los Angeles. In some cases Unless Collective is working to get a "minimum viable product" on the market in order to keep the company moving forward.

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