Patrik Frisk heads to Under Armour from VF Corporation, where he held numerous executive roles over 10 years. UA also named Paul Fipps Chief Technology Officer and Colin Browne Chief Supply Chain Officer.
Not to be left in the fashion wake of Sydney and Melbourne, Perth is set to receive an estimated AU$5.1 million in investment from shopping centre owners to transform the city's central business district by 2020.
Nike said on Thursday it would cut 2% of its global workforce (1400 workers) and eliminate a quarter of its shoe styles as it looks to become nimbler in the face of intensifying competition and fast-changing trends.
Recent successes in the North American market, including beating out Nike for the first time for the top selling sneaker in the U.S. and eclipsing Under Armour in sales all bode well for the German sportswear giant.
Nike has funded a study that shows compression apparel does nothing for performance, which could set back competitors in the compression apparel market, such as Under Armour for which compression wear is a core product.