Champion distribution expands in South Korea
Hanesbrands Inc. said Thursday it has added LF Corp. as a distribution partner in South Korea to serve its Champion brand stores.
The additional distribution will nearly triple the number of Champion points of distribution in South Korea to more than 30 by the end of 2020. That includes stores, shop-in-shops and e-commerce,
LF directly operates more than 1,400 brand stores in South Korea. Retail stores and shop-in-shops will be located near and in, respectively, the country’s major department stores and shopping malls.
LF also will distribute Champion products to the company’s Around the Corner multibrand lifestyle apparel stores and to other parts of its online and store network.
There are currently more than 200 Champion stores and shop-in-shops across Asia, including China, Hong Kong, Japan, Taiwan and Thailand. Hanesbrands expects to more than double the number of stores and shops in those countries within two years.
Globally, there are more than 300 Champion stores and shop-in-shops, enabling Hanesbrands to double Champion net sales since 2016.
High Point company makes Technology Fast 500 list
A High Point-based company is one of nine from North Carolina to be ranked in Deloitte’s 2019 Technology Fast 500 listing of the fastest growing technology companies in North America.
VTv Therapeutics Inc. of High Point was ranked 56th — the second highest among the nine N.C. companies.
The top-ranked N.C. company was Pendo.io of Raleigh at 26th.
The others are: Phononic Inc. of Durham (66th); Passport Labs Inc. of Charlotte (214th); SQLSentry LLC of Charlotte (303rd); Lender Performance Group LLC of Charlotte (387th); Tresata Inc. of Charlotte (396th); InMotion Now Inc. of Morrisville (417th); and AvidXchange of Charlotte (483rd).
Although the total number of NC-based companies did not change from 2018, seven were new to this year’s list.
Catalyst Biosciences reports larger third-quarter loss
Catalyst Biosciences Inc., based in South San Francisco, reported Thursday a larger year-over-year loss during the third quarter of $12.7 million. The loss was $7.7 million a year ago.
In 2015, Catalyst acquired Targacept Inc. of Winston-Salem. Targacept shareholders own 42% of Catalyst’s shares and eventually could have a 57% capital stake.
It had an earnings loss of $1.06, compared with a loss of 64 cents a year ago.
Catalyst reported having no contract revenue, along with $9.9 million in research and development expenses and $3.3 million in general and administrative expenses.
Catalyst said that as of Sept. 30, it had cash, cash equivalents and short-term investments worth $85 million, down from $94 million on June 30.
Linville Team Partners affiliate buys buildings
An affiliate of Linville Team Partners has spent $638,500 to purchase industrial properties at 619 and 627 Brookstown Ave. in Winston-Salem, according to a Forsyth County Register of Deeds filing Thursday.
The properties were bought from Harvey Clodfelter of Winston-Salem.
The property at 619 Brookstown is a 9,600-square-foot warehouse, while the property at 627 Brookstown is a 2,820-square-foot building.
Audrey Linville, with the commercial real-estate company, said there are no current plans for either building.