UK: Redundancies "likely" at Umbro
Umbro, which is being sold to Iconix in a US$225m deal announced last last month, employs 384 people, 238 of whom are based in the UK.
A spokesperson for Nike said 190 Umbro employees are being consulted on the next steps to take following the acquisition. "Some will be offered roles at the new Umbro organisation under Iconix, some will stay on for a period of time as part of a transition team.
"Those that don't fall into these two groups will be able to apply for roles at Nike, but there are likely to be some redundancies."
Nike said the acquisition, which is expected to close by the end of the year, will enable the company to focus on its "highest-potential growth opportunities".
In September, Nike inked a sponsorship agreement with the Football Association to design and supply kit for England's football teams, replacing the existing deal with Umbro.
Representatives from more than 40 apparel brands and retailers have called for a credible action plan to address workplace safety in the Bangladesh clothing sector as the death toll from last week's R...
Nike has teamed up with NASA and a number of other US government departments to collaborate on developing sustainable materials. ...
Iconix Brand Group, which owns and licenses brands including Candie's and Umbro, has raised its full-year earnings guidance after reporting a 28% increase in first-quarter net profit....
A new study into the impact of the branded clothing sector on the European economy is calling for a shift in thinking when it comes to setting out trade policies to include the full breadth of the ind...
Four months after lawmakers in Oregon approved legislation that tax rules would not change for companies making new investments in the state, sportswear giant Nike is to expand its headquarters in Was...
Human rights activists have called on Nike to stop doing business with Daewoo International, which they claim is the largest processor of forced labour cotton in Uzbekistan....
- Better factory conditions boost the bottom line
- Is there more to Primark's woes than the weather?
- Myanmar garment exports surged 20% in 2015
- Under Armour on track with new UAS sportswear line
- Why synthetic fibres are a safe bet for the future
- Brexit may hit suppliers with UK duty-free access
- Vietnam's Vinatex opens $5.7m garment factory
- H&M living wage commitments criticised in Cambodia
- New US tariff classifications impact woven apparel
- Natural plant dyed eco-friendly cellulosic yarns