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.
July 5, 2021
What’s Next for Peloton After a Rocky, Record-Setting Year
Peloton has beaten earnings estimates every quarter of 2021 so far. However, product issues and a crowded market pose new threats. Front Office Sports
July 1, 2021
Ridepanda receives $3.75 million in financing from four investors
E-commerce company Ridepanda announced it received a combined $3.75 million in financing from investors to help meet demand for its electric vehicles, which include e-bikes. In addition to e-bikes, Ridepanda offers e-mopeds and e-scooters with financing, extended warranties, and customer services, including assembly at home or at a nearby shop. BRAIN
July 1, 2021
Adidas shortlists bidders in Reebok sale
Adidas has drawn up a shortlist of bidders for its Reebok brand as it seeks to draw a line under an ill-fated investment that never lived up to the German sporting goods company's expectations, sources close to the matter said. U.S. rival Wolverine, which has partnered with brand transformation specialist...
June 30, 2021
Mary Cain launches professional women’s running team
Mary Cain has announced the launch of her new professional women’s running team, Atalanta New York. Cain previously ran for Alberto Salazar and the Nike Oregon Project (NOP), and in 2019, four years after leaving the team, she opened up about the emotional and physical abuse she endured in her...
June 30, 2021
Hoka One One Taps Industry Veteran Matt Rask to Take Its Footwear Design to the Next Level
Prior to Hoka One One, the 20-year industry vet held senior design positions at athletic behemoths Nike and Under Armour, and launched his own industrial design service company, Jackalope Studios, where he worked with outdoor leaders including Patagonia and Keen. Footwear News
June 30, 2021
Adidas Launches Share Buyback Program
Adidas said its Executive Board has decided to launch a share buyback program in the second half of 2021 amid confidence the company’s latest strategy, ‘Own the Game,’ would generate “substantial” cumulative free cash flow over the next five years. SGBMedia
June 29, 2021
Gympass Emerges Stronger Out Of The Pandemic, Doubles Valuation To $2.2B
The company announced Tuesday that it has closed on a $220 million round, at more than double its last valuation of $1 billion in June 2019. The corporate wellness platform is now valued at $2.2 billion with SoftBank, General Atlantic, Moore Strategic Ventures, Kaszek and Valor Capital Group investing in this funding round. TechCrunch
June 28, 2021
Amazon’s Growing Fitness Ambitions
Amazon is looking for a Head of Fitness Programming to join its Halo team — the group leading the company’s new wave of fitness services. Halo, a fitness band and subscription service, made its debut last August. The device helps users assess their overall health and movement; the subscription offers hundreds of exercise, sleep,...
June 28, 2021
Fitness companies back in business with IPOs
The last week has seen a number of companies in the fitness industry making comebacks with public offerings or announcing intent to do so: Pure Barre parent Xponential Fitness seeks IPO likely valuing firm at some $1.3B Seeking Alpha Beachbody went public via a three-way business combination with Peloton competitor...
June 24, 2021
NIKE Reports Huge Revenue Gains in Latest Financial Results
Fourth quarter reported revenues were $12.3 billion, up 96 percent compared to prior year and increasing 21 percent compared to the fourth quarter of 2019. Full year reported revenues increased 19 percent to $44.5 billion. Businesswire