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Tag: #sport

  • California Fitness slows expansion to improve member retention

    California Fitness slows expansion to improve member retention

    California Fitness & Yoga, one of the most popular high-end gym chains in Vietnam, is suspending its expansion to focus on retaining members while its competitors’ race to open more facilities.

    “We are not perfect,” said Dane Fort, CEO of FLG Vietnam, which operates California Fitness & Yoga. “We developed and expanded too fast and had to face certain difficulties. That is why we have not opened new clubs in recent years.”

    With 35 facilities, California Fitness & Yoga was the biggest gym chain in Vietnam. However, it has now been overtaken by 25 Fit, which has 41 facilities. Third-ranking Curves only serves female members and has 27 facilities around the country.

    Fort said that anyone with money could build a gym chain with quality similar to that of California Fitness, but what his company is focusing on now is retaining members.

    It costs 10 times more to acquire a new member than to keep a current one. California Fitness, with 250,000 subscribers (including 30,000 daily users), accounts for more than three-quarters of the market in Vietnam.

    According to FLG, its members account for around 72-73% of the market. This is why Fort plans to invest $2 million into upgrading the current clubs to retain members.

    Fort said that staff training is important as new salespeople could make customers have a negative view about the chain during their sales pitch. Fort wants to train his staff more deeply for the next two years to increase their professionalism and consistency.

    Vietnam’s gym market is estimated to reach $3.5 billion by the end of next year, according to a forecast by Ken Research in June 2019.

    But this forecast was made before Covid-19 hit and forced many independent gyms to shut down.

    Gym chains, however, seem to have been expanding in the last two years.

    Fort said that the pandemic has made people take better care of their health and that this is giving the fitness industry new opportunities.

    FLG has been seeing growth compared to pre-pandemic levels in some areas, such as the number of active members, new members and revenues, he said.

    Growth potential in Vietnam remains, he said, adding that the penetration of the health and fitness industry among the middle-class is 14% in Hong Kong, 17% in the U.S. and 23% in Australia, while in Vietnam it is still below 1%.

    By the end of this year, the rate is set to rise to 1.25%, and in the next five years it could reach 5%, Fort said.

    FLG Vietnam has been making moves to assert its market dominance, such as importing new technology from Australia and opening Jetts Fitness, a 24-hour gym chain, which is set to expand to 12 facilities in the next two years from the current two.

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  • Adidas puts partnership with Kanye West under review

    Adidas puts partnership with Kanye West under review

    Adidas says it is reviewing its Yeezy partnership with Kanye West days after he showed a “White Lives Matter” T-shirt design at Paris Fashion Week.

    The company did not mention the controversy but said “successful partnerships are rooted in mutual respect and shared values”. The rapper and fashion designer responded on Instagram, claiming the firm “stole” his designs. That post now appears to have been deleted.

    Adidas told the BBC it had made the decision to put the partnership under review after “repeated efforts to privately resolve the situation.” A spokesperson for the German sportswear company also said that the “Adidas Yeezy partnership is one of the most successful collaborations in our industry’s history.”

    In his Instagram post, Mr West also used a strong expletive, adding “I AM ADIDAS.”

    Earlier this week, he was criticised after he presented a collection at Paris Fashion Week that included T-shirts with the slogan “White Lives Matter”.

    The phrase Black Lives Matter, which represents opposition to racism and police brutality, was widely used after George Floyd, an unarmed black man, was killed by a police officer in Minneapolis in the summer of 2020.

    Vogue’s Gabriella Karefa-Johnson, who is global fashion editor-at-large at the fashion magazine, was among those who criticised West over the T-shirts, calling the move “hugely irresponsible.”

    In response, Mr West responded by lashing out at Ms Karefa-Johnson and posted photographs of her mocking her appearance to his 17.9 million followers.

    “She was personally targeted and bullied. It is unacceptable. Now, more than ever, voices like hers are needed and in a private meeting with Ye today she once again spoke her truth in a way she felt best, on her terms.”

    The almost decade-long partnership between Adidas and West has been strained for some time.

    At the centre of their collaboration is a hugely popular range of sneakers – known as Yeezy – which cost hundreds of dollars, with new releases often selling out within minutes.

    In June, he accused Adidas of making a shoe that looked similar to the distinctive Yeezy design, but was not part of their deal.

    Adidas said it will continue to co-manage the partnership while the review is under way.

    The announcement from Adidas comes less than a month after West’s lawyers sent a letter to fashion chain Gap to say he would no longer work with the firm.

    He accused Gap of failing to honour terms of the deal, including by failing to open standalone stores for his Yeezy fashion label.

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  • The Most Popular Sports In Asia

    The Most Popular Sports In Asia

    When people think about Asia and the things people love to do there, most of them discuss the beautiful culture and art. But, people from Asia also love sports. In fact, they are rather passionate when it comes to sports. The most important thing you need to know is that their love of sports is a bit different than the one you can see in the Western cultures. For example, Americans see the sunday night football tonight as an opportunity for the entire family to relish the game and have fun together at the stadium. When it comes to Asia, they are a bit more fanatic. They live for the sport they love and it shows. Today, we are going to discuss the most popular sports in Asia.

    Football (Soccer)

    There are people who think football is the thing they watch on snf, but that is American football. Today, we are going to discuss European football or soccer. There are many reasons why people in Asia love soccer. For one, the sport is very popular in the region, with many people playing and watching it. Additionally, soccer offers a great way to stay fit and active, which is important for people of all ages. Finally, soccer can be a very social activity, providing a way for people to connect with others who share their passion for the sport.

    Also, the professional soccer leagues in Asia are pretty good. They are much better than people give them credit for. Sure, European soccer is the best in the world, but European clubs usually find it complicated to beat Asian clubs in the Club World Cup competition. The Asian soccer national teams are also pretty good on the international scene.

    Basketball

    It is safe to say that basketball is very popular in the region, with many top-level players coming from Asian countries. Also, basketball is a relatively simple game to understand and follow, which makes it enjoyable for fans of all ages. Finally, the fast-paced nature of the sport definitely makes it exciting to watch.

    Cricket

    Cricket is a sport that is enjoyed by people all over the world, but the best clubs are definitely in Asia. There are many reasons why people enjoy watching cricket, but some of the most popular ones include the fact that it is a very strategic game, it is exciting to watch, and it is a great way to relax and unwind. Nations like India and Pakistan are traditionally the best in the world.

    There are, of course, other sports that are popular in Asia, but it is safe to say that these three sports we discussed today are the most popular.

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  • Ferrari Teases 2023 Le Mans Challenger, To Begin Testing Soon

    Ferrari Teases 2023 Le Mans Challenger, To Begin Testing Soon

    Almost 49 years after Ferrari last participated in the 24 Hours of Le Mans, the Italian carmaker is back as it teased its latest challenger before testing starts for the 2023 edition of the French endurance race. Ferrari unveiled the first details of the Le Mans Hypercar that will compete in the FIA World Endurance Championship from 2023 and shows strong design references to the stylistic features that distinguish the models in the Prancing Horse range. Additionally, the design and the parts used for the 2023 Ferrari Le Mans challenger would make way for the company’s road car range as well.

    The last time team from Maranello took part in the Le Mans was in 1973, while the last win came in 1965 with the Ferrari 250 LM, before the run of six consecutive victories ended in 1966 by Ford GT40. We still don’t know the name of the new hypercar for Le Mans but do know that the new prancing horse would join the Hypercar class of the FIA World Endurance Championship. The teaser image of the new Ferrari Le Mans hypercar shows off blade-thin DRLs connected by an illuminated red highlight, to a deep lip spoiler angled down at the edges. We expect that the new hypercar would be mid-engine driven, built on a completely new chassis, and hybrid system, as well as new parts that would eventually trickle down to the company’s road car range.

    The hypercar is in the prototype stage and is early in the day to announce the drivers and the official crews that would be part of the team. But if we had to speculate, then the bets are high on Callum Ilott, Alfa Romeo driver Antonia Giovinazzi and perhaps even former F1 champion Kimi Raikkonen. Then there are rosters like Pier Guidi, Calado, Serra and Davide Rigon, Miguel Molina, and Sam Bird.

  • H&M, Lululemon back $250 million Fashion Climate Fund

    H&M, Lululemon back $250 million Fashion Climate Fund

    Lululemon Athletica and H&M Group are among backers of a $250 million fund aiming to speed up efforts to cut carbon emissions in the fashion industry’s supply chain, non-profit group Apparel Impact Institute said on Wednesday.

    Bringing together clothing brands, philanthropic donors and other industry stakeholders, the institute’s Fashion Climate Fund also hopes to unlock a further $2 billion in funding once effective solutions have been found and scaled up.

    Other early backers include the H&M Foundation and the Schmidt Family Foundation. More are expected to be announced in the coming months, with the fund hoping to raise $10 million from each.

    “The urgency to address the climate issues has never been more acute. Early-stage innovations and new solutions play a critical role, but the impact does not happen before they can be scaled, and the industry starts adopting and implementing them,” said the H&M Foundation’s Christiane Dolva.

    “The Fashion Climate Fund will support new programmes and solutions with a structured pipeline for getting from pilot to scale. We believe it provides a powerful mechanism to overcome the challenges of getting new solutions implemented by the industry, and thereby accelerate the progress on climate action.”

    While many of the world’s leading companies have committed to reaching net-zero emissions across their businesses by mid-century and to halving emissions by 2030, the Apparel Impact Institute said many large barriers remain.

    A recent study it conducted with the World Resources Institute found 96% of the fashion industry’s emissions come from third-party farms and factories used by multiple firms.

    The fund will help finance a range of initiatives including expanding the use of renewable energy, developing next-generation materials, ditching the use of coal in manufacturing and improving energy efficiency.

    It hopes that the use of philanthropic capital to help fund early stage projects and the forging of partnerships with retailers to scale up successful initiatives will encourage other industry participants to help meet future funding needs.

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  • Reebok adaptive range designed for people with restricted mobility

    Reebok adaptive range designed for people with restricted mobility

    Adidas-owned Reebok has launched a range of adaptive trainers for people with restricted mobility. Called Fit to Fit, the sneakers can be easily put on and removed.

    The shoes were created in partnership with Zappos’ adaptive department, the two companies aiming to create shoes that are inclusive in performance and lifestyle. They interviewed people with mobility issues as part of the product development process.

    “We created the Reebok Fit to Fit adaptive footwear collection to champion Reebok’s mission of inspiring human movement for all,” Reebok product manager Dan Buonomo said in an interview with Dezeen.

    “The collection’s goal is to provide functional products for everyone, while still holding true to Reebok’s iconic design heritage.”

    Key to the range is the absence of buttons and buckles which can be a challenge for people with restricted mobility. A zip on the side ensures the shoe fits, but the laces remain so the shoes retain the style and look of those made for typical consumers. Once tied to fit, they don’t need to be retied each wearing.

    Removable insoles accommodate prosthetics and a low-cut design aids mobility. A sports shoe based on Reebok’s Nanoflext TR features a pull tab in the heel making it easier for people using wheelchairs to remove the shoes from behind.

    Another shoe, the Club MEMT Parafit, based on the tennis shoe of the same name, has a removable insole and comes in wider sizes to accommodate prosthetics.

    Initially available in pairs, Reebok and Zappos plan to sell single shoes for people who have only one foot.

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  • Triumph Trident 660 recalled over weak kickstand

    Triumph Trident 660 recalled over weak kickstand

    Some 83 Triumph Trident 660 sportbikes were recalled in Vietnam since their kickstands may be prone to bending.

    The units were made in Thailand between Feb. 7 and May 15 last year, according to Vietnam Register.

    A representative of Triumph Vietnam said the kickstand of affected bikes had been manufactured with the use of an incorrect specification of raw material that causes it to bend over time.

    This could result in the bike falling over if parked for extended periods.

    Dealerships in Vietnam will replace the faulty component without any charge between May 30, 2022 and May 25, 2024.

    Triumph Trident 660 was launched in Vietnam in early April, with a price tag of VND270 million ($11,640).

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  • Sportswear retailer Li Ning eyes in-store coffee brand

    Sportswear retailer Li Ning eyes in-store coffee brand

    As coffee gradually penetrates Chinese people’s daily life in recent years, some none-catering companies are starting to utilize the potential of this newly booming industry.

    Sportswear brand Li-Ning bursts into the coffee industry this year with Ning Coffee landing in its several offline stores in Beijing, Xiamen and some areas in Guangdong province.

    Li-Ning said it hopes to improve customers’ comfort level when shopping by optimizing its in-store services.

    In early February, China Post opened its first cafe in Xiamen, Fujian province, and will continue to open more stores in Beijing and Shanghai.

    Tongrentang, a traditional Chinese medicine pharmacy with a history dating back over 350 years, opened a shop featuring herbal coffee in 2020.

    According to market consultancy iMedia Research, China’s coffee market totaled 381.7 billion yuan in 2021, and is expected to maintain a high-speed development with a growth rate at about 27.2 percent.

  • Li Ning products banned from the US over North Korean slave labour claim

    Li Ning products banned from the US over North Korean slave labour claim

    Merchandise manufactured by Chinese sportswear giant Li Ning has been banned from entering the US with the company accused of using North Korean labour in its supply chain.

    The US Customs and Border Protection announced on Tuesday that – under the terms of Countering America’s Adversaries Through Sanctions Act (CAATSA) – the entry of goods “mined, produced, manufactured wholly or in part by North Korean nationals or North Korean citizens anywhere in the world” is prohibited.

    However, the agency has not yet disclosed where it believes Li Ning uses the North Korean labour or in which part of the rogue state Li Ning sources products or materials.

    “CAATSA is yet another tool in CBP’s trade enforcement arsenal that allows us to uphold the fundamental value of human dignity and to ensure the goods that enter the US are free from forced labour,” said AnnMarie Highsmith, of the Office of Trade Executive Assistant Commissioner.

    Under US law, Li Ning now has 30 days to provide “clear and convincing evidence” that its merchandise was not produced with convict labour, forced labour, or indentured labour under penal sanctions in order to export its products to the US.

    Founded in 1989, Li Ning was named after a former Chinese Olympic gymnast, the brand’s founder. The company reported 4.2 per cent growth with US$2.22 billion in sales in 2020 despite the pandemic. Li-Ning was an official marketing partner of the National Basketball Association and had sponsorship deals with 10 players, including Dwayne Wade.

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  • Adidas expects to grow China sales this year

    Adidas expects to grow China sales this year

    German sportswear company Adidas said on Thursday it would grow in its key market of China in 2022 even after it was hit by renewed pandemic restrictions and the aftermath of a consumer boycott of Western brands.

    The comments come after Manager Magazin reported Adidas expects sales in China to be down 400 million euros ($455 million) in 2022, without citing its sources.

    Asked about the article, an Adidas spokesperson said: “Our business in China grew in 2021 and our business in China will grow in 2022 as well.”

    Adidas’s third-quarter sales fell 15% in Greater China, although they were up 15% in the first nine months of the year. The company reports full-year 2021 results on March 9.

    Western brands have come under fire in China for saying they would not source cotton from Xinjiang after reports of human rights abuses against Uyghur Muslims in the region. Beijing denies any abuses.

    Adidas said last year it had launched an action plan to try to revive its fortunes in China, long its most important growth market. It has set up a dedicated studio for marketing and is increasing its creation of products just for the Chinese market.

    Manager Magazin said the situation was seen as so critical that Adidas sales chief Roland Auschel had traveled to China in January despite quarantine requirements.

    Rival Nike said in December supply issues and fresh COVID-19 lockdowns led to a 20% fall in revenue in Greater China in its fiscal second quarter.

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  • Decathlon names new CEO

    Decathlon names new CEO

    French sports retailer Decathlon named 45-year old Barbara Martin Coppola, a former executive at companies such as IKEA and Google, as its new global chief executive.

    Coppola will replace Michel Aballea, who had held the role since 2015, in mid-March this year, added Decathlon, which competes in France with companies such as Go Sport.

    Decathlon said it was in good financial shape, echoing bullish updates recently given by sportswear companies such as Puma and JD Sports which have performed well despite the COVID-19 pandemic.

    “The current good health of Decathlon and our strong ambitions encourage us to accelerate the transformation of our business model to better assert our position as a world leader in sport,” said Decathlon chairman Fabien Derville.

    “We are convinced that Barbara will be able to lead this transformation while respecting our values,” added Derville.

    According to Decathlon’s website, the company registered sales of 11.4 billion euros ($12.9 billion). The Mulliez family, which also owns the Auchan supermarket chain, owns the majority shareholding in Decathlon.

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  • Thousands strike work after Nike supplier cuts Tet bonus

    Thousands strike work after Nike supplier cuts Tet bonus

    Thousands of workers of Taiwanese-invested footwear maker Pouchen Vietnam, a Nike contract manufacturer, struck work Friday, demanding the same Tet bonus as last year.

    They refused to return to work after finishing their lunch to protest the company’s policy to pay less bonus than last year for the coming Tet (Lunar New Year) festival. Tet, the most important Vietnamese festival, falls in early February this year. The workers stood on national road 1K in front of their factory’s entrance, causing traffic congestion for hours. The strike affected others and all 14,000 workers of the factory in Bien Hoa Town, southern Dong Nai Province, stopped working.

    A mobile police team was dispatched to maintain order in the area. A female worker said that the company had announced Thursday that employees who have worked for it a full year or more will be given Tet bonuses of 1-1.54 months’ salary – around VND5 million ($217) to nearly VND20 million.

    The highest bonus in 2021 was 1.87 months’ salary, and in previous years, 2.2 months. “With this (coefficient), workers’ Tet bonus in 2022 will be lower than before,” she added.

    A Pouchen representative said that in 2021, the company had faced difficulties in production and business. When the fourth wave of Covid-19 broke out, the factory had to stop working from July 12 to Sept. 30, 2021. On Oct. 5, 2021, it resumed production, but at 60 percent capacity.

    Due to the failure to fulfill the production plan, profits fell, so the Tet bonus, the biggest and most anticipated reward for workers, could not be the same as the previous year. The rep also said that under the collective labor agreement, the company would pay Tet bonus to employees based on its business performance.

    Nguyen Thi Nhu Y, head of the Dong Nai Provincial Labor Confederation, said the union was coordinating with authorities to resolve the situation. She noted that Pouchen’s Tet bonus was higher than the local industry average.Nguyen Huu Nguyen, Chairman of the People’s Committee of Bien Hoa, said relevant agencies are trying to negotiate with the board of directors of Pouchen to increase the Tet bonus. “However, employees need to share the company’s difficulties, because Covid-19 has caused businesses to suspend operations for months,” he said.

    Pouchen Vietnam, part of Taiwan’s Pouchen Group, has one more factory in Dong Nai and six others in HCMC and the three southern provinces of Tien Giang, Tay Ninh and Ba Ria – Vung Tau for a total of 130,000 employees. The group is expected to spend more than VND1.2 trillion on Tet bonuses this year.

  • Adidas’s biggest brand centre in SEA launches at Sunway Pyramid

    Adidas’s biggest brand centre in SEA launches at Sunway Pyramid

    Adidas Malaysia has unveiled its largest brand center in Southeast Asia at Sunway Pyramid. Spanning 1575sqm and two stories, Adidas Sunway Pyramid worked with renowned Malaysian graphic designer, Valen Lim, to create localized experience zones in the store.  The brand incorporates Malaysian design elements, such as prominent local landmarks in the store interior, representing the Adidas Trefoil logo that mimics an authentic old-school local shop front. Adidas also collaborated with Sunway Pyramid.

    The brand incorporates Malaysian design elements, such as prominent local landmarks in the store interior, representing the Adidas Trefoil logo that mimics an authentic old-school local shop front. Adidas also collaborated with Sunway Pyramid to celebrate the launch with the medal of honor bestowed on Sunway Pyramid’s lion head.

    “The ongoing business expansion journey we are in is in line with our mission to be the best sports brand in Malaysia,” said Sharmin Photographer, country manager at Adidas Malaysia. “Despite the pandemic having been very tough for most of us, we emerge stronger as we continue to persevere with our consumer-first mindset.”

    The brand offers a range of sports performance and sports style products, together with an in-store customization zone.

    Meanwhile, the ‘sustainability zone’, designed to educate consumers on marine plastic pollution, is furnished with structures that are produced using reclaimed wood and recycled yarn to support our commitment.

    “The adidas Brand Center has been designed to meet the needs across all age groups and highlights the breadth and depth of the brand,” said Photographer.

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  • 3 Mistakes You Can’t Make in Sports Betting

    3 Mistakes You Can’t Make in Sports Betting

    We have commented in our content about the importance of emotional control. While it sounds like a gambler’s cliché, this is an almost indisputable truth. Without the pillars of sports betting (bank management, discipline, and emotional control), it is practically impossible to succeed in 22Bet online betting.

    It is therefore essential to know how to deal with losses. It sounds bizarre, but the thought that you have to know how to lose to win is exceptionally true. And, in this context, the effects of the loss on the bettor are of great relevance.

    What are the effects of the injury?

    Making money from betting is not difficult in the short term, especially in a streak where everything works out. It’s not uncommon for beginners to start by leveraging their bankroll. The problem is to maintain this positivity for the long term. Sports betting has a variance, and no matter how safe your work method is, a wrong run time can come.

    And this is where a lot of people end up getting lost. After a streak of losses, many beginning gamblers resort to incorrect actions to recoup losses. The stake increase is the main resource and that, after all, only increases the chance of putting the bank even further into the hole.

    Another common mistake is investing in games without good opportunities, just because of the influence of the previous result. This is another one of the damage effects that can compromise your performance.

    3 Mistakes Related to Losses You Need to Stop Committing

    Therefore, within the psychological impacts, the damage is one of the great villains responsible for beginners’ losses. Of course, here we are not just talking about the loss of money itself, but what it can do to your psychological negative.

    Thinking about how to help you improve in this regard, today, we will mention three psychological errors related to the effects of the injury. If you commit any of them, don’t despair. The idea is precisely to identify these behaviors so that they do not compromise your results in the long term.

    Mistake #1 • Risking more than you can lose (high stake)

    First, you must have very assertive control over your stake. This is not just for setting the percentage but also for ensuring that this is a value you can afford to lose. A widespread mistake of beginning gamblers is to work with a relatively high stake, where the psychological impact of an eventual loss ends up being too great.

    Here, it is also worth including that loss situation where people double the stake to recover the loss. No one guarantees that the new bet will win, and if something goes wrong, the problem only gets worse. And, many times, the worst thing is just how your head will know that you used a value above what was correct.

    Therefore, know how to manage your stake according to your reality and values ​​that do not pressure your emotions. Tranquility is paramount to making suitable investments.

    Mistake #2 • Lack of confidence in input or strategy

    When we’re at a loss, it’s even natural for the head to start looking forward to the next game in an attempt to balance the balance. What usually happens at this time? Inputs are based purely on the emotional, without any confidence that the situation had value.

    Here, we have two problems about the effects of the injury. The first, of course, is that an unsecured entry has a high chance of going wrong. It usually comes from an impulse and a psychological desire to recover from a loss. And, going wrong again right affects your emotions (which is our second problem in this situation).

    In that sense, if you’re having a bad day, it’s worth taking a break and doing something else, at least until you feel that your emotions are back to normal and that you can make a correct decision about the new bet.

    Mistake #3 • Not knowing how to handle losses

    Finally, the third mistake reflects everything we’ve discussed so far: not knowing how to deal with losses. In sports betting, you will always be dealing with swings. It is, after all, a variable income market. You can’t always win, no matter how good you are.

    And, something ubiquitous among beginners is to despair in a negative streak. The gambler begins to question whether he is on the right path, whether what he is doing is correct, and even whether he can earn money from betting. Good strategies end up getting lost at this point.

    In this way, some of the above errors can also happen. Be careful not to get carried away by a bad run and always focus on the long term.

    How to avoid the effects of injury?

    There is no better way to deal with the effects of harm than by going through them. The human mind is very complex and practically impossible to master completely. What happens is that, with the passage of time and experiencing situations, you get used to it and don’t despair at every loss.

     

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  • UBS Brings TV Sports Closer To Life

    UBS Brings TV Sports Closer To Life

    CEO Ralph Hamers wants banking services to be more like Netflix. Now the bank is sponsoring a mini-series that fits with UBS’ private banking plans.

    On November 14, the television mini-series Front Office starts on Players TV channel and – as its says in its title – will be presented by UBS. Switzerland’s biggest bank paid a seven-figure sum for a multi-year sponsorship agreement with the producer Players Media.

    The mini-series revolves around top American athletes discussing business ideas with their fans. The show uses a similar format to The Lion’s Den.

    The series will feature among others, NBA basketball Phoenix Suns player Chris Paul. A year ago, UBS launched a client segment of athletes and entertainers in the U.S.

    It hired former professional football player Adewale Ogunleye (pictured below) to head the unit. Ogunleye, who has an MBA from George Washington University, reports to local private banking chief Jason Chandler.

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