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.
October 28, 2020
Whoop, maker of the fitness tracker that pro athletes love, is now valued at $1.2 billion
Some of the biggest names in sports are investing in the wearable company Whoop amid a global pandemic. The fitness tracking company announced it closed a $100 million financing round. Whoop is the fitness tracker of choice for a number of pro athletes, now used to help monitor potential symptoms...
October 28, 2020
Shimano’s Earnings Climb In Nine Months
Shimano Inc. reported earnings rose 10.4% in the nine months ended September 30 despite a 2.0% dip in sales. Earnings reached ¥47,231 million, up from ¥42,799 million a year ago. Sales were ¥264,174 million against ¥269,523 million. Operating income increased 7.7% to ¥54,300 million and ordinary income increased 5.7% to...
October 27, 2020
Triathlon Apparel Brand HUUB Secures Pre-Launch £575,000 Crowdfunding After 681% Sales Lift
The British triathlon apparel brand secured the investment in a 48-hour private launch ahead of the public release of a crowdfunding campaign on Oct. 28. HUUB had set a minimum target of £250,000 on the Crowdcube platform and blew past this within hours. Read more on Forbes.
October 26, 2020
Thule rides bike boom to 45% growth in Q3
Sales for the third quarter ending in September were SEK 2,436 million ($278 million), up from SEK 1,682 million ($192.1 million) from the third quarter 2019. The COVID-19 pandemic caused Thule's sales to decrease 4.9% in the first quarter and 11.6% in the second quarter. Read more on Bicycle Retailer.
October 22, 2020
Is Adidas Selling Reebok?
The German sportswear giant is reportedly looking to sell the athletic brand and could decide in the next few months whether to move forward with the process. An internal review is said to be in the early stages, while Germany’s Manager Magazin indicated that Adidas plans to complete the sale...
October 21, 2020
Canyon Bicycles Draws Takeover Interest From Carlyle, KKR.
Canyon Bicycles GmbH has drawn takeover interest from private equity giants. Investors are looking to capitalize on renewed enthusiasm for one of Europe’s favorite pastimes. The bike maker is working with bankers at Robert W. Baird & Co. on a sale that could fetch more than 500 million euros ($592...
October 20, 2020
Former pro cyclist Bradley Wiggins liquidates businesses with debts of over £1m
Two of Bradley Wiggins’s companies are being wound up with debts in excess of £1m and look set to leave creditors hundreds of thousands of pounds out of pocket. Read more on Cycling Weekly.
October 19, 2020
YogaWorks Files For Bankruptcy, To Closes All Studios
YogaWorks has filed for Chapter 11 bankruptcy protection but will continue to offer its digital and live-stream content. Serene Investment Management has agreed to acquire the YogaWorks digital and education business and intellectual property. YogaWorks Live and MyYogaWorks, as well as its teacher training and workshop departments will continue operation,...
October 16, 2020
Peloton Recalls Pedals That Might Break on 27,000 Stationary Bikes
The stationary bike juggernaut Peloton announced that it was recalling about 54,000 clip-in pedals off 27,000 stationary bikes. The brand received 120 reports of pedal breakage, including 16 incidents leading to leg injuries, with some requiring stitches. Read more on GearJunkie.
October 15, 2020
COVID-19 outbreak at cycling studio leads to 69 cases and counting
At least 69 people, spread among staff and patrons at Spinco from Sept. 28 to Oct. 4, have been infected with the coronavirus in Hamilton Ontario, Canada, after a series of classes at a cycling studio led to an outbreak, even though there were many safety protocols in place. Public...
