BUSINESS NEWS
Want to stay up to date on the latest press releases and business news in the running, cycling and triathlon industries? Scroll below to view all endurance sports business news.
January 19, 2022
Kona Bicycles sold to Ohio outdoor group
Kona Bicycles has been acquired by Kent Outdoors, a Ohio-based company that was known until Wednesday as Kent Water Sports. Kent Outdoors owns several outdoor sports and watersport brands, including the Arbor snowboard brand. Kent Outdoors is no relation to Kent International, the New Jersey-based mass market bicycle brand. Bicycle...
January 19, 2022
SRAM acquires Hammerhead, maker of the Karoo 2 cycling computer
SRAM has today announced Hammerhead will join its portfolio of brands, with a transaction which completed on December 30, 2021. Hammerhead will continue to develop its award-winning Karoo 2 cycling GPS computer line, and will remain a stand-alone brand within the SRAM portfolio, allowing the brand to continue to build...
January 18, 2022
Peloton hires McKinsey to review cost structure; cycle maker may cut jobs, close stores
Peloton is working with management consulting group McKinsey & Co. to review its cost structure and potentially eliminate some jobs, CNBC has learned. The possible job cuts were discussed in a recent call with members of Peloton’s management team, according to a recording obtained by CNBC. The apparel division, which has...
January 13, 2022
FitLab Raises $15M, Acquires Fitplan, Ragnar, and Electric
An integrated operating company of performance lifestyle brands, FitLab raised $15M in Series A funding. The funding fuels FitLab's integrated fitness platform. Adding to its new growth capital, the company has acquired digital fitness app Fitplan, adventure running series Ragnar, and action sports brand Electric. Fitt Insider
January 13, 2022
Report: Trek to buy Spokes Etc. retail chain
Trek Bicycle is buying the Washington, D.C.-are retail chain Spokes, Etc., according to a local news report. Bicycle Retailer
January 12, 2022
Fitness Tech Company Myzone Hits $102M Valuation After BGF Investment
Myzone, the manufacturer of wearable fitness tracking technology, has secured a $17.2 million investment from BGF, the UK’s growth capital investor, with tech entrepreneur Vin Murria OBE, who also joins as Non-Executive Chair. Designed to engage and motivate people to be more physically active, Myzone is used in worldwide health...
January 12, 2022
Adidas Sets Major Expansion For Downtown Los Angeles
Adidas has leased 107,000 square feet of office space in downtown Los Angeles marking a major expansion of its Los Angeles operation for marketing and sales and design according to a report in the Wall Street Journal. SGB Media
January 11, 2022
Industry Shocker – Shimano’s Wayne Stetina Moves To SRAM!
After 37 years, Wayne Stetina is leaving Shimano and taking a job with SRAM in Chicago as a “Senior Field Guide.” Wayne sees an opportunity to concentrate on making better parts for road and gravel riders to use, as well as visiting shops and working with SRAM’s sponsored teams. Road...
January 11, 2022
Suunto Sold To New Owners (Again)
Suunto announced yesterday that they’ve been sold away from the Amer Sports group, to Liesheng, a Chinese tech-focused brand that also owns/makes the Haylou brand (audio devices). However, I say ‘again’, because Suunto has long been part of the Amer Group (which includes brands like Salomon, ENVE, Atomic, Wilson and...
January 11, 2022
Nike, Lululemon, Macy’s and More Stores Cut Hours Amid Omicron Surge
A massive surge of COVID-19 cases is dealing retailers a new blow in terms of staffing shortages. Lululemon, Nike, Starbucks and Macy’s have all implemented new shortened hours in some locations in the last few weeks, as retailers struggle to keep stores staffed during the pandemic. Foot Wear News
