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 7, 2022
Trek buys up another U.S. bike shop chain
Trek Bicycles has continued its spending spree of U.S. bike shops, adding to its portfolio Baltimore’s seven location Race Pace Bicycles. The acquisition of the store chain builds on a 2021 that saw repeated headlines hit on U.S. trade site BR∈ the first in January, relating to the buyout of...
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January 6, 2022
Dorel completes bicycle operation sale to Pon Holdings for US$810m
Dorel Industries has completed the previously-announced sale of Dorel Sports, its bicycle segment, to Pon Holdings, the Dutch mobility group, for US$810 million. The transaction consisted of the sale by Dorel of 100% of the shares of its indirect wholly-owned subsidiary companies comprising Dorel Sports as well as certain related...
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January 6, 2022
Lululemon Names New CEO Of Mirror
Lululemon Athletica, Inc. announced the appointment of Michael Aragon as CEO of Mirror and Lululemon Digital Fitness, effective January 17, 2022. In this role, Aragon will oversee the development and expansion of the Mirror in-home digital platform and will report directly to CEO, Calvin McDonald. SGB Media
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January 5, 2022
VeloNews magazine merges with Peloton magazine
VeloNews and Peloton have been under the Outside umbrella since January of 2021. Now, in January of 2022, VeloNews magazine is merging into Peloton magazine. Further, authors and photographers from sister brand CyclingTips are also now contributing to the new Peloton magazine. VeloNews
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January 5, 2022
Nike sues Lululemon over Mirror Home Gym, apps
Nike Inc on Wednesday filed a lawsuit accusing Lululemon Athletica Inc of patent infringement for making and selling the Mirror Home Gym and related mobile apps without authorization. In a complaint filed in U.S. District Court in Manhattan, Nike accused Lululemon of having “summarily” rejected its demand that it stop infringing...
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January 4, 2022
Nike and Adidas are Losing Momentum in China to These Native Footwear Brands
Consumers in China increasingly prefer their own homegrown brands as opposed to international brands like Nike and Adidas, according to a December report from The NPD Group, which analyzed the Chinese footwear market in Q3 of 2021. According to the data, six of the top ten footwear brands in China in Q3...
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January 4, 2022
Fox and SRAM end costly chainring and axle legal feuds
Fox and SRAM have kicked off the New Year with the settling of long-running legal quarrels dating back as far as 2015 and relating to patent disputes. The high profile saga drew to a close with both parties registering documents in Colorado and Illinois last week, each dropping their claims and...
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January 4, 2022
Active Lifestyle Stocks Churn Out Robust Gains in 2021
With many companies seeing benefits from changed behaviors due to the pandemic, the vast majority of active lifestyle stocks soared to new heights in 2021. Of the 79 stocks in the active lifestyle space tracked by SGB Executive, only 14 showed declines, marking the third strongest year for the sector after several...
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December 31, 2021
Saucony President Anne Cavassa on How the Supply Chain Backlog Will Impact 2022 and Maintaining the Brand’s Momentum in the New Year
When parent company Wolverine World Wide Inc. revealed its first-quarter 2021 earnings in May, it stated sales at Saucony surged close to 60% for the three months ended April 3. And most recently, Saucony continued to prove it is a standout brand for Wolverine in Q3. For the three months ended Oct. 2, it...
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December 29, 2021
Peloton Plunges in Google Search Trends
U.S. search trends for Peloton show a 30% year-over-year drop in the fourth quarter of this year. U.K. and Germany showed an even larger year-over-year decline. The brand’s U.S. search trends are up 10% from last quarter, less than last year’s 15% increase from Q3 to Q4. Peloton searches in the U.K. and Germany...
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December 28, 2021
COVID Surge May Stall Gym Industry’s Comeback
The Omicron spike in COVID cases could spoil a pre-pandemic certainty for the gym industry: members flooding in to start on fitness-related New Year’s resolutions. The seven-day moving average of COVID cases cataloged by the CDC is at its highest point since January 2021. Business tracking firm Placer.ai said gym visits...
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December 28, 2021
Tokyo Olympics Cost $1.8B Less Than Previous Estimates
The Tokyo Olympics faced a raft of problems related to the global pandemic, but the final bill came in well under previous estimates. The Summer Games cost organizers an estimated $13.6 billion, $1.8 billion below a prior prediction of $15.4 billion. Front Office Sports
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December 23, 2021
Salazar’s Lifetime Ban Upheld By Safesport Center
The U.S. Center for SafeSport on Wednesday upheld its permanent ban of former Nike Oregon Project coach Alberto Salazar, The ruling affirmed a July decision by SafeSport, an independent nonprofit organization based in Denver, CO that responds to reports of misconduct within the U.S. Olympic and Paralympic sports, to permanently...
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December 23, 2021
Under Armour, Columbia Facing Headwinds
Under Armour and Columbia were downgraded by market analysts Stifel, highlighting the challenges facing the sports category. Analyst Jim Duffy lowered the two brands from “Buy” to “Hold” — while lowering Nike’s price target but maintaining its “Buy” rating. The analyst foresaw short-to-mid-term concerns limiting the upside of both brands....
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December 23, 2021
BikeExchange acquires US bike delivery service Kitzuma
Online cycling marketplace BikeExchange has acquired US-based bike delivery service Kitzuma for $3.375 million (£2.5 million). Australian firm BikeExchange said it made the acquisition to help drive its e-commerce-first strategy, with the aim of improving both seller and customer experience. Bike Biz
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December 21, 2021
Fitness Apps Market Could Be Worth $120.37B by 2030
According to a study by Allied Market Research, in 2020, the fitness apps market was worth a total of $13.78 billion, and the compound annual growth rate would be 24.3%. The study suggested that an increased awareness of “a healthy lifestyle” and “diet-related diseases,” as well as an increased use of devices...
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December 21, 2021
Thousands of JD Group Stores To Sell ABG’s Reebok
Reebok, purchased by Authentic Brands Group in August, will now be sold in thousands of JD Group stores thanks to a new agreement between the companies. The non-exclusive deal comes after ABG announced plans to buy Reebok from Adidas for $2.46 billion — the acquisition is set to close in Q1 2022. JD Group, which...
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December 21, 2021
Vietnam factory closures cause Nike to cancel 130M units
As a result of three months of closures and limited production volume as it ramped back up its factories in Vietnam, Nike had to cancel 130 million units. Despite the challenges, the company's net revenue in Q2 edged up 1% to $11.4 billion while net income grew 7% to $1.3...
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December 21, 2021
Orbea licenses part of its shock integration technology to Canyon
Canyon will partially license Orbea's patented rear-shock lockout cable routing technology. Orbea's patent for the "Inside Line" covers improvements to the lockout routing, enhancing aesthetics and providing a more direct path between the shock and remote lever. BRAIN
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December 20, 2021
Cyclist and Cycling Electric acquired by London publisher Metropolis
Cyclist and sister title Cycling Electric have been acquired by London Publishing House Metropolis, which has also secured the assets of Fortean Times and VIZ from a holding group. Metropolis is largely a B2B publisher, hosting titles such as MotorTrader, New Civil Engineer, Property Week, Drapers and Money Marketing, among many others....
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December 17, 2021
The former Nike Oregon Project changes team name to Union Athletic Club
One of the world’s best-known professional running clubs has found a new name after the Nike Oregon Project was abolished, coincident with the four-year ban of ex-head coach Alberto Salazar. The new name, Union Athletic Club, was announced on the Elevation Om YouTube page and confirmed by Chris Chavez on...
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December 15, 2021
CriticalPoint Capital Completes Sale Of JackRabbit To Fleet Feet
Affiliates of CriticalPoint Capital, LLC announced the closing of the sale of JackRabbit to Fleet Feet. Headquartered in Denver, CO, JackRabbit is the second-largest running specialty retailer in the U.S. and is the largest franchisor of locally-owned and operated running stores. SGB Media
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December 15, 2021
Corporate Well-Being Platform Gympass Acquires Trainiac
Trainiac, a one-on-on fitness platform, is now Trainiac by Gympass. The latter announced its acquisition of the one-on-one fitness platform on Wednesday. The news comes after Gympass’ $220 million funding round in June valuing the company at $2.2 billion. At the time, Gympass said it had more than 750,000 training sessions booked for more than 50,000...
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December 15, 2021
Apple, Amazon Vie for Piece of Growing Wearable Tech Market
The fitness wearables market is poised for huge growth over the next seven years — and companies and investors are taking notice. Separate reports from Grand View Research and Fortune Business Insights placed the fitness wearable market at $34.6 billion and $36.3 billion, respectively. Fortune predicted compound annual growth of...
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December 15, 2021
Shimano gets fake clearance website taken down
Shimano says it successfully petitioned the Internet Corporation for Assigned Names and Numbers to have an e-commerce website taken down because it was posing as a Shimano company site. Shimano warned the public about the site in October. Bicycle Retailer