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.
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January 18, 2023
SRAM v Princeton ‘humpback whale wheel’ lawsuit goes to jury trial
Two years after SRAM accused US wheel brand Princeton CarbonWorks of infringement on two of its patents relating to the wavy rim design of the Zipp 454 NSW, the case is heading to court. In advance of a two-week jury trial beginning on February 13, the judge has granted each...
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January 18, 2023
Salomon and Hoka Were the Fastest Growing Sneaker Brands on StockX in 2022
In its latest “Big Facts” report, StockX confirmed that the fastest-growing sneaker brand on the marketplace was Salomon. StockX revealed in the report that Salomon experienced 2,277% trade growth in 2022 over 2021. Following Salomon was Hoka, which experienced 713% trade growth. FN
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January 16, 2023
The Cult of Bike Helmets
Last year, health officials in Seattle decided to stop requiring bicyclists to wear helmets. Independent research found that nearly half of Seattle’s helmet tickets in recent years went to unhoused people, while Black and Native American cyclists in the city were four times and two times more likely, respectively, than white...
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January 13, 2023
2023 ICR: Fitness Chains Resume Aggressive Growth Plans
Speaking at the 2023 ICR Conference, executives from Planet Fitness, Life Time Group and Xponential Fitness indicated that their respective health clubs continue to see healthy recovery post-pandemic while noting stepped-up expansion plans. SGB Media
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January 13, 2023
Can Outdoor Specialty Retailers Conquer the Booming Running Market?
The running market has always been hyper-competitive, but new retail challengers from the outdoor world are raising the stakes for players in the space. For the past three years, the running category has been the footwear industry’s biggest success story. As gyms closed amid the pandemic, a staggering number of...
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January 12, 2023
Strava Has Laid Off Employees Ahead of Rising Prices. Here’s What Your Subscription Will Cost Next Month
The layoffs predated the reported uptick in price for premium features. The previous $7.99 monthly rate will increase to $11.99 on February 6—a significant 50 percent increase. Aol
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January 12, 2023
Specialized Lays Off 8% of Employees
The latest staple outdoor company to announce massive layoffs: one of the U.S.’s biggest names in bicycles and bike gear. In a brief press release Wednesday, Specialized announced major cuts. Gear Junkie
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January 11, 2023
White Industries acquires iconic Rolf Prima and Astral Cycling in all-American takeover
White Industries is expanding into complete wheels through the acquisition of totemic hoop maker Rolf Prima and its sister brand Astral Cycling. The parts manufacturer has custom-built hubs for rim and wheel makers Rolf Prima and Astral Cycling since 2004 and 2017 respectively. Bike Radar
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January 11, 2023
JD Sports Posts 20 Percent H2 Growth Across North American Retail Banners
JD Sports Fashion Plc, the parent company of Finish Line, DTLR and Shoe Palace in the U.S. and sports fashion and outdoor retail brands Blacks, JD, Millets, and Go Outdoors in the U.K., realized sales growth of more than 10 percent in its organic retail businesses through 22 weeks of...
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January 10, 2023
adidas to Combine Canadian And US Business Units In Major Organizational Shift
“Historically, these teams have operated separately as two individual markets. Therefore, this restructure will enable more speed and cohesion across the entire North American market. The implementation of these changes has started and will conclude by the spring. Business operations will be mainly based out of our U.S. headquarters in...
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January 9, 2023
Porsche eBike Performance begins recruitment drive
Porsche eBike Performance GmbH has begun 2023 just as the wider Porsche business moved in 2022. With regards to eBikes; at a significant pace. Now formally established as a business unit, the organisation is expanding. That means new hires, to build out on the organisational capabilities, and enhance capacity. Cycling...
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January 9, 2023
Xponential Fitness Expects To Meet, Or Exceed, Full-Year Guidance
The company expects to meet or exceed the high end of the previously provided full-year 2022 outlook. North American system-wide sales of $1.03 billion, exceeding the high end of the guidance range of $995.0 million to $1.005 billion, and an increase of 46 percent as compared to full year 2021. SGB...
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January 9, 2023
Lululemon Shares Drop After Weak Q4 Guidance
The Vancouver, British Columbia-based brand now projects Q4 net revenue to be between $2.660 billion to $2.700 billion, compared to a previously outlined range of $2.605 billion and $2.655 billion. Q4 diluted earnings per share are expected to be between $4.22 and $4.27, tighter and lower than the previously outlined...
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January 4, 2023
Active Lifestyle Stocks Face Turbulence In 2022
The majority of stocks in the active lifestyle space took it on the chin in 2022 as broader stock markets in the U.S. saw their worst performance since the 2008 financial crisis. All three of the major averages suffered their worst year since 2008 and snapped a three-year win streak....
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January 3, 2023
The Original Fit Factory Closes On Eight Acquisition Deals
Scottish digital fitness brand The Original Fit Factory has bought eight companies in a $137 million (£111.6m) acquisition spree as it looks to diversify into multiple areas of digital fitness. Terms were not disclosed. The acquisitions are expected to boost projected 2022/2023 revenue to over €100 million and give The...
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December 30, 2022
Trek ranks high for trademark oppositions
Trek has opposed more than 400 applications for trademarks the company felt came too close to its turf, earning it the #4 spot on a list of prolific opposers, just behind Apple, Inc. and ahead of brands like Nike and Red Bull. Trek has opposed applications from a tent brand...
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December 29, 2022
Parents of girls in fatal e-bike crash settle with each other; Rad Power files cross-complaint
A Los Angeles judge has approved a $1.5 million settlement between the parents of a 12-year-old girl who died following an e-bike crash and the parents of the 11-year-old girl who was piloting the bike. The e-bike's maker, Rad Power Bikes, opposed the settlement and has filed a cross-complaint against...
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December 23, 2022
Professional Triathletes Organization Raises $30 Million in Series B
The Professional Triathletes Organisation (PTO) has completed a $30 million Series B funding round led by Divergent Investments, a Luxemburg-based private equity fund. Majority investors in the round included the Welsh billionaire Sir Michael Moritz and Warner Bros. Discovery, which in July, signed an exclusive multiyear partnership with the PTO to broadcast live and on-demand coverage...
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December 20, 2022
Nike, Inc. Fiscal Q2 Results Beat Street Expectations; Inventories Up 43 Percent
Nike, Inc. reported fiscal 2023 second quarter revenues were $13.3 billion for the three-month period ended November 30, up 17 percent compared to the prior-year comparable period and up 27 percent on a currency-neutral basis. Overall revenues for the Nike Brand were $12.7 billion, up 18 percent on a reported...
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December 20, 2022
Meta CEO Mark Zuckerberg snubs fitness as key to metaverse growth
Meta chief executive Mark Zuckerberg told a federal court Tuesday that he does not consider fitness apps to be key to his plan to build out the metaverse. Asked by his lawyers during a court hearing if the prospect of Meta not having its own virtual reality fitness app kept...
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December 20, 2022
London Marathon Events takes over Brighton Marathon
London Marathon Events, organisers of the London Marathon, will take over the Brighton Marathon. The company has stepped into save the event after Grounded Events Company Limited, the former owners and operators of the Brighton Marathon, went into administration. Yahoo Finance
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December 19, 2022
Fallout from the Pandemic Bike Boom
A month after lockdowns had them wondering about their future in the spring of 2020, they suddenly couldn’t keep up with demand. For a year and a half, staff worked overtime as Americans rolled out their dusty steads or bought new ones. A 50 percent increase in riding, plus supply...
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December 19, 2022
Designer Brands Acquires Topo Athletic As It Grows Owned Brand Assortment
DBI announced in April a goal for sales from owned brands and Camuto Group national owned and licensed brands to double from 19% of the company’s revenue to almost one-third by 2026. In 2018, DBI acquired Camuto Group, which designs and develops the Vince Camuto brand and licenses footwear for...
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December 18, 2022
CleverTraining, Olympia Sports assets to be auctioned
A bankruptcy court is auctioning the remaining assets of CleverTraining, an e-commerce site that once offered cycling, triathlon and other endurance sports gear. Also being auctioned are the assets of Olympia Sports, the former Northeast sporting goods retailer. Bicycle Retailer
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December 15, 2022
Fitness app founded by best friends lands £1.9M, gets backing from British Olympic marathon runner
London-based personalised running coaching app Runna has raised £1.9 million in funding as it aims to become the top running coaching platform in the world. The investment round was led by Jon Coker, founding partner at Eka Ventures, whose has also led investments in brands such as Bloom & Wild, Interactive...