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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December 15, 2022
Bicycle Colorado is acquiring the nonprofit Colorado Cycling
To connect with the thousands of riders who participate in competitive and noncompetitive bike events in Colorado, Bicycle Colorado will be acquiring the nonprofit Colorado Cycling (formerly known as the Bicycle Racing Association of Colorado). Beginning in January 2023, the Colorado Cycling brand will be retired, and its operations will...
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December 15, 2022
New Balance expanding production, adding jobs in Maine
New Balance is expanding its factory in Skowhegan and nearly doubling its workforce there. The company, which is based in Boston, said it will invest about $65 million in construction and equipment at the Skowhegan site. The planned expansion with double New Balance’s production capacity at the factory and add...
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December 14, 2022
Can an NFT generate real world bike sales?
For those of us still firmly grounded in the real world, the question (even as digital natives) is, “Does any of this positively impact our cycling business?” For Zwift, with the academy, the answer is a 100% positive “Yes”. Add to that TrainerRoad, Sufferfest, Rouvy, RGT and there’s not much...
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December 14, 2022
Spike raises $700k to help digital health apps utilize wearable data
On average, a digital health company will integrate between four to eight wearables to allow their users to connect the device they use. It’s expensive and resource-intensive to develop wearables integrations in-house; meanwhile, cross-sensor data is complex, scattered, and making data usable requires data engineering headcount and domain-specific know-how. Vator...
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December 13, 2022
Adidas, Paris Hilton and More Celebrities Sued Over ‘Misleading’ Bored Ape NFT Promotions
Adidas and a slew of celebrities, including Paris Hilton, Stephen Curry and Serena Williams, have been named in a class action lawsuit over their promotion of digital currencies and NFTs from Yuga Labs, including its flagship NFT collection Bored Ape Yacht Club (BAYC). With regard to Adidas, the suit claims that...
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December 12, 2022
Pinarello could be up for sale after banner years
The Italian bicycle maker Pinarello could be getting a new owner in 2023. L Catterton, the private equity firm who acquired the majority stake in 2016, are reportedly seeking offers for Pinarello after it almost doubled turnover since the acquisition. Cycling News
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December 12, 2022
Puma Private Equity invests a further £5.5 million into Le Col
Le Col, the premium cycling performance brand, are pleased to announce that Puma Private Equity, has invested a further £5.5 million into the business to support its long term growth trajectory. Puma Private Equity offers growth capital and expertise to ambitious businesses and works closely with leadership teams to help...
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December 12, 2022
Private equity investors to acquire majority stake in Vittoria
Vittoria has announced that private equity investors Telemos Capital have signed a binding agreement to acquire a majority stake. London headquartered Telemos will invest alongside Vittoria’s senior management team and Wise Equity to build on the company’s leadership position in performance tyres and to accelerate Vittoria’s growth globally. Cycling Industry
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December 9, 2022
Nike’s 50th anniversary: How the swoosh has changed running forever
Fifty years after the birth of Nike, it's impossible to imagine the running world without it. From record-breaking shoes to Olympic kit, via running crews and online ads, the swoosh is everywhere. And yet, implausible though it now seems, the Nike story began, unpromisingly, with a piece of college homework....
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December 9, 2022
Rad Power Bikes suffers a third round of layoffs
North America's largest e-bike company, Rad Power Bikes (opens in new tab), is currently conducting its third round of layoffs in a year filled with lawsuits, manufacturing defects, layoffs and a market downturn. Cycling Weekly
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December 8, 2022
Lululemon Lifts Outlook As Q3 Comps Surge 22 Percent
Lululemon Athletica, Inc. again raised its outlook for sales and earnings for the year after reporting third-quarter results that topped guidance. Comparable sales in the quarter increased by 22 percent, or 25 percent on a constant dollar basis. Sales of $1.9 billion exceeded guidance in the range of $1.780 billion to $1.805 billion. EPS of $2.00...
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December 8, 2022
Former Hydro Flask CEO to Lead Puffin Drinkwear
Puffin Drinkwear, makers of personality-infused apparel for your drink to wear, announced that Scott Allan is being brought on as interim CEO starting immediately. Allan led Hydro Flask initially as President & CEO and following its acquisition by Helen of Troy, as SVP & Global GM. SES
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December 7, 2022
Anta Exploring Amer Sports IPO
Anta Sports Products, Ltd., the Chinese sports equipment corporation headquartered in Jinjiang, is reportedly holding preliminary talks with investment banks for an IPO of Amer Sports that could raise about U.S.$1 billion or more, according to Bloomberg. Amer Sports, headquartered in Finland, is the parent of Salomon, Arc’teryx, Peak Performance, Atomic, Suunto,...
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December 7, 2022
Cycling industry layoffs: Strava and Wahoo cut 15% of workforce
According to Bicycle Retailer and Industry News(link is external), Strava — the ride-tracking app which claims to have the world's largest sports community of more than 100 million users — has let go at least 40 employees, including product designers and product managers. One former employee told the cycling industry news website that 14 per...
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December 6, 2022
Peloton Execs Sued for Alleged Insider Trading
A Peloton shareholder is suing some of Peloton’s former and current executives claiming they engaged in insider trading, according to a Nov. 18 filing made public on Nov. 28 and first reported by Bloomberg Law. Club Industry
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December 6, 2022
Bioniq acquires home fitness mirror firm VAHA
Personalised nutrition firm Bioniq has acquired VAHA, which is billed as… ‘Europe’s leading interactive home fitness mirror and the first of its kind in the UK.’ The acquisition is seen as a continuation of Bioniq’s expansion plan and strengthens its health subscription offering in Europe and the Middle East. Endurance.biz
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December 5, 2022
Metabolism tracker Lumen raises US$62 million
Metabolism measurement platform Lumen, has raised US$62 million in a series B funding round led by Pitango Venture Capital. Participating investors include Hanwha Group, Resolute Ventures, RiverPark Ventures, Unorthodox Ventures, Almeda Capital and Disruptive VC. Endurance Biz
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December 5, 2022
Sportswear manufacturer Cytech acquires Pasasport
The buyout brings together two manufacturers with a history of innovation in the production of performance cycle clothing, Cytech introducing at Eurobike this year the world’s first 3D printed chamois pad. More than 90 per cent of the company’s turnover is generated in foreign markets and its products are sold...
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December 4, 2022
Heptathlete sues USA Track and Field
During a heatwave, American heptathlete Taliyah Brooks collapsed amid the 2021 U.S. Olympic trials. The athlete has taken legal action against USA Track and Field, the governing body for the sport. Heading into the trials, Brooks was a top contender in the heptathlon, a two-day, seven-event sport that involves three track...
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December 2, 2022
Former Amazon executive joins Zwift as co-CEO with founder Eric Min
Zwift founder Eric Min announced Friday that he will become co-CEO, sharing duties with former Amazon executive Kurt Beidler. Min, who has been CEO since Zwift's founding in 2014, said Beidler's hire came after "a long search." Min will also remain chairman of Zwift's board of directors. Bicycle Retailer
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December 1, 2022
Wahoo Fitness Dismisses Smart Trainer Lawsuit Against JetBlack, Sets Timetable Against Zwift
Wahoo initially filed suit against Zwift/JetBlack back on October 3rd, the same date that Zwift started shipping the trainers into the US & European markets (Zwift previously announced the Zwift Hub on September 6th, 2022). Zwift currently doesn’t sell the trainers in any other markets at this time except the...
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December 1, 2022
Why Twitter Is Good for the Running World
Jesse Williams, a former marketing executive at Brooks and the founder of the event company Sound Running, echoed Goucher’s point. “The live tweeting of splits, placing, and other important info during races is huge for fans and for brands that understand the space,” Williams says. Outside Online
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November 30, 2022
Nike, Adidas Could Reduce Order Volumes By 40%
Companies like Nike and Adidas are expected to reduce their order volumes by 30%-40% beginning next summer, with both companies reportedly notifying their manufacturing plants. It’s unclear how long it will last, but some outlets have reported that the volume decrease is expected to continue until the winter — likely...
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November 29, 2022
Wattbike secures £3.25m for global growth
Wattbike has partnered with Praetura Commercial Finance to help fund its ambitious global expansion plans. The £3.25 million asset-based lending facility will help the team invest in its Hub App, which works in tandem with its indoor exercise bikes, as well as target key global territories in the North America...
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November 29, 2022
Trends in the running industry: What comes after the Corona boom?
Many have discovered running for themselves in the Corona pandemic. But mega sales for running brands are offset by declining numbers of participants in competitions. Will the runner's high last or will running run out of steam? Urs Weber gave an industry insight at the Runner's World running symposium at...