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.
October 1, 2021
Sponsors investigating Black Cyclists Network over bullying allegations against founder
Following allegations of bullying and harassment by a member of the Black Cyclists Network, sponsors have taken action to distance themselves from the grassroots organisation while the claims are investigated. Cycling Weekly
September 28, 2021
Mike’s Bikes Partners With Giant Bicycle
Mike’s Bikes, the largest specialty bike retailer in the Western U.S., with 12 current retail locations and a national online presence, has signed with Giant Bicycles USA as a new full-line brand partner. SGB Media
September 27, 2021
NordicTrack-owner iFIT targets valuation of nearly $7 bln in U.S. IPO
IFIT Health & Fitness Inc, owner of the NordicTrack fitness brand, is looking to raise as much as $646.15 million through a U.S. initial public offering, valuing the company at $6.61 billion, according to a regulatory filing on Monday. Reuters
September 27, 2021
Specialized buys McLain Cycle & Fitness, other purchases rumored
After 44 years in business, Bob and Kris McLain have sold McLain Cycle & Fitness to Specialized Bicycle Components. Specialized has not confirmed the purchase and has declined to comment on this or other recent retail acquisitions. But industry sources tell BRAIN the company has purchased, or is close to...
September 23, 2021
Nike Misses Q1 Revenue Estimates, Shares Fall
Overall, the athletic giant on Thursday reported growth, with revenues for the quarter at $12.2 billion, up 16% year over year. However, this fell short of estimates of $12.46 billion in revenues from a survey of analysts. Net income was $1.9 billion, up 23% year over year, with diluted earnings per...
September 23, 2021
Colnago Becomes First Cycling Manufacturer To Adopt Digital Product Passport Powered By Blockchain
Beginning with the bike that will be raced by 2020 and 2021 Tour de France champion, Tadej Pogačar this coming Sunday at the 2021 UCI Road Racing World Championship in Belgium, Colnago will integrate blockchain technology into its new bicycles. As the first manufacturer to link its physical products to a virtual, distributed...
September 23, 2021
Why aren’t more big bike firms tracking their environmental impact?
Trek, one of the world’s biggest bicycle brands, recently released its sustainability report for 2021. Remarkably, this appears to be the first time a major bike company has published such a document. While some other manufacturers make broad sustainability pledges or tout their success in reducing packaging waste, Trek’s report...
September 21, 2021
How Nike Became the Most Marketable Athletic Brand, According to SportsPro
The Swoosh earned the top spot for the second year in a row, beating out Adidas and Emirates, which placed second and third, respectively. For this year’s ranking, the company analyzed postings from more than 30,000 organizations and athletes for the period of August 15, 2020 to August 15, 2021....
September 21, 2021
Rowing start-up Hydrow scores fresh financing from Lizzo, Justin Timberlake, as at-home fitness competition heats up
Hydrow, the maker of a connected rowing machine, said Tuesday it has secured nearly $200 million in financing after its latest funding round with celebrity backers including Lizzo and Justin Timberlake. Founder and Chief Executive Bruce Smith said a portion of the funding will be used to make sure it...
September 20, 2021
Peloton Expanding Into Hotels, Health Clubs
The fitness leader is leveraging April’s $420 million acquisition of Precor — which supplies workout machines to hotels, health clubs, and universities — to get hotel guests and others to sample its offerings. FOS