May 5, 2021

Adidas launches Reebok auction, China row may dent Asian interest

Adidas has launched the sale of its Reebok brand in an auction which risks being affected by a political row over possible forced labour in China's western Xinjiang region. Adidas bought the U.S. fitness label for $3.8 billion in 2006 to help compete with arch-rival Nike, but its sluggish performance led...

May 5, 2021

Oura Brings In $100M in Funding

Oura Health announced Tuesday that it has raised $100 million in Series C funding, bringing the company’s total funds to $148.3 million. The wearable fitness manufacturer produces the Oura Ring, a sleep and activity tracker you can slide on your finger. More than 500,000 have been sold. Front Office News

May 4, 2021

ClassPass, Fitness Tech Firm MindBody Eye Merger, IPO

ClassPass and Mindbody, which provide technology to fitness companies worldwide, have been discussing a merger, Bloomberg reported, citing unnamed sources. ClassPass, works as a subscription-based business, allowing users to book workouts at fitness studios and other locations. In January 2020, ClassPass said its valuation was above $1 billion since it had gotten $285...

May 4, 2021

Under Armour Rallies in Q1

The company’s Q1 2021 earnings show a major bounce back from this time last year. Sales rose 35% year-over-year, bringing revenue to $1.26 billion. Online sales led the charge with 69% growth, and the company had an overall profit of $77.8 million. Front Office Sports

May 4, 2021

Zoomo raises $12 million to bolster ‘e-bikes for businesses’ model

The newest round of funding follows an $11 million Series A raise announced in August 2020, led by the CEFC. Cumulatively, Zoomo has raised $26 million in the past 24 months. Zoomo will use the funds to invest in the development and production of the brand’s next-generation vehicle offerings as well...

May 3, 2021

Fast growing running shoe company ON Running targets autumn IPO: sources

Shoe firm ON Running, backed by Swiss tennis star Roger Federer, is preparing for a U.S. stock market listing as early as this autumn in a deal valuing the firm at about $5 billion, people close to the matter said. Reuters

April 30, 2021

Emerald Holding Sees Steep Q1 Revenue Drop

Emerald Holding Inc. reported revenues tumbled 87% as results continue to be negatively impacted by event cancellations due to the pandemic. Emerald is actively pursuing collection of the remaining unpaid amounts of filed insurance claims for its canceled and impacted 2020 events. To date, Emerald has submitted $167 million in...

April 30, 2021

ESW May 14, 2021 Weekly News Report

AWARDS USA Triathlon, Elk Grove Village Present 4 Star Endurance With Entrepreneur/Business Plan of the Year Award ESW USA Triathlon Announces Winners of 2020 Multisport Awards Presented by Wahoo Fitness ESW BUSINESS USA Cycling releases details of Inclusion Conference ESW TSG Consumer Partners to Sell Stake in Nuun to Nestlé Health Science Businesswire Credit Union Cherry Blossom...

April 29, 2021

The Startup that Makes Fitness a Video Game

The gaming craze and at-home fitness come together in Ergatta’s rowing machine. The connected rowing company gamifies workouts, with its machine effectively acting as a controller, allowing people to race and compete on a screen as they work out. Front Office Sports

April 29, 2021

Shimano bike division rides ‘wave of COVID’ to 76% sales growth in Q1

Shimano sales in its bike division were up 76.3% in the first quarter, compared to the same period last year; operating income in the division was up 170%. Net sales for the quarter were 103,757 million yen ($952 million) in the bike division, and operating income was 27,730 million yen....