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.
April 5, 2021
SoftBank Invests $100 Million in Fitness Startup
SoftBank is set to invest more than $100 million in at-home fitness startup Tempo. The connected fitness system retails between $2,500 and $4,000 and comes with weights, barbells, and a touchscreen display that offers instruction and live classes for a subscription fee of $39 per month. Front Office Sports
April 2, 2021
Italian private equity firm buys Cytech Group
PM&Partners SGR, and Italian private equity company, has become the majority shareholder in Cytech, the parent company Elastic Interface and other cycing brands. In 2020 the company sold more than 3.2 million pads. Elastic Interface also has recently expanded into offer cycling glove pads, used by brands including Giro. Cytech's...
April 2, 2021
Peloton Completes Precor Acquisition
With this acquisition, Peloton establishes its U.S. manufacturing capacity, anticipates boosting research and development capabilities with Precor's highly-skilled team and accelerating Peloton's penetration of the commercial market. Peloton plans to produce connected fitness products in the United States before the end of the calendar year 2021. Yahoo
April 1, 2021
New York pop-up retailer brings rarely seen road brands to US cyclists
The pop-ups feature some high-end road cycling brands rarely seen in the U.S., such as Festka (from Czech Republic), Isadore (from Slovakia), MAAP (Australia), and Q36.5 (Austria). The store has no brick-and-mortar home, but makes online sales (with delivery by bicycle an option in New York City) and operates the pop-up...
April 1, 2021
Chinese runners applaud marathon race’s termination of partnership with ASICS
Chinese runners applauded the suspension of a partnership between a domestic marathon race organizer and Japanese sportswear company ASICS, which has caused outrage among the Chinese public for its double-crossing move on the Xinjiang cotton issue. Global Times
March 31, 2021
Shimano Announces New President
Shimano appointed Taizo Shimano, who joined the company in 1991 and served as a senior executive vice president since 2018 after leading Shimano’s Fishing Tackle division, as its new president. SGB Media
March 31, 2021
Tonal Raises $250 Million in New Funding, Teases Upcoming IPO
At-home fitness startup Tonal raised $250 million in a new round of funding, giving the company a $1.6 billion valuation. The wall-mounted system, which launched in 2015, uses advanced technology to replicate equipment, exercises, and weights found at brick-and-mortar gyms. Front Office Sports
March 30, 2021
Lululemon forecasts better-than-expected sales as digital business accelerates
Lululemon reported net income of $329.8 million, or $2.52 per share, compared with net income of $298 million, or $2.28 per share, a year earlier. Its online sales surged 92%, as many consumers preferred to shop from home during the Covid pandemic. Women’s sales were up 19%, and men’s grew...
March 29, 2021
Shimano to step up pursuit of counterfeit sellers
Shimano has announced that it will become more aggressive in defending its intellectual properties, acknowledging that counterfeit goods bearing its branding, or likeness, have caused issues in the marketplace. Read what they are doing on Cycling Industry News.
March 29, 2021
Why are people in China burning their Nikes?
Allegations of human rights violations have turned into a social media firestorm. Canadian Running
