Tuesday, June 10, 2008
Karhu and Exel
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On 30 May 2008 Exel Oyj issued a stock exchange release which confirmed that the sale of the Exel Sports Outdoor business to Karhu Sports has now been completed. Exel has claimed that this move will allow them to focus on their core industrial activities. Exel Sports Oy still exists as part of the Exel company but consists purely of the Floorball business.
It is understood that Exel had already outsourced the assembly of its poles to China in a bid to reduce its production costs. Reports suggest that this action had not met with success. The press release does not say if Karhu (a Finnish company) will take on board the complete manufacturing, assembly and distribution process.
The brand name "Exel" will continue to be used by Karhu alongside its other products. Previous reports indicated that brands such as "Nordic Walker" and "Nordic Blader" will be used as part of a long term licensing agreement.
It will be interesting to see if there is any manifestation of this in the function or operation of INWA or whether it will be "business as usual". Presumably Karhu will welcome the ready made network of sales outlets previously set up through INWA's cadre of instructors.
Malcolm Jarvis
Nordic Walker Leeds UK
On 30 May 2008 Exel Oyj issued a stock exchange release which confirmed that the sale of the Exel Sports Outdoor business to Karhu Sports has now been completed. Exel has claimed that this move will allow them to focus on their core industrial activities. Exel Sports Oy still exists as part of the Exel company but consists purely of the Floorball business.
It is understood that Exel had already outsourced the assembly of its poles to China in a bid to reduce its production costs. Reports suggest that this action had not met with success. The press release does not say if Karhu (a Finnish company) will take on board the complete manufacturing, assembly and distribution process.
The brand name "Exel" will continue to be used by Karhu alongside its other products. Previous reports indicated that brands such as "Nordic Walker" and "Nordic Blader" will be used as part of a long term licensing agreement.
It will be interesting to see if there is any manifestation of this in the function or operation of INWA or whether it will be "business as usual". Presumably Karhu will welcome the ready made network of sales outlets previously set up through INWA's cadre of instructors.
Malcolm Jarvis
Nordic Walker Leeds UK
