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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July 22, 2021
Zone7 Raises $8 Million In Series A Round To Expand Artificial Intelligence Platform For Predicting Sports Injury Risks
Zone7’s system analyzes data that teams collect on athletes when they’re practicing, playing in games, working out and even sleeping. It then produces reports on each player’s fitness and other variables, forecasts their injury risk and suggests ways in which so-called “operators” such as coaches and medical personnel can help....
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July 22, 2021
Janus Cycle Group — owner of Merlin and Dean — sold to former real estate executive
Titanium bike and component manufacturer Janus Cycle Group announced Thursday it sold all company assets to Phil Joseph, a former real estate executive. Joseph, an avid cyclist, purchased 100% ownership stake in the assets, which include Merlin Metalworks, Dean Titanium, Knight Composites, Ionic Bikes, and Rossin Bikes. BRAIN
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July 22, 2021
Skechers Reveals Strong Q2 Earnings on Wholesale Boom
The company announced record quarterly sales of $1.66 billion, an increase of 127.3% year-over-year, and 31.7% over the second quarter of 2019. BW
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July 22, 2021
Strava opening new office in Dublin
The leading social platform for athletes and the largest sports community in the world reports that it now has over 88 million athletes. The brand’s international expansion comes at a high-momentum moment for Strava as its global community continues to grow rapidly, adding 2 million athletes every month. In addition...
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July 21, 2021
Thule revenue jumps 58% in Q2
Despite having trouble meeting increased demand, Thule reported net sales of SEK 3,229 million ($371 million) for the quarter, compared to SEK 2,043 million in Q2 2020. When adjusted for exchange rate fluctuations, sales jumped 68.5% compared to the same time last year. BRAIN
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July 21, 2021
Altra Founder, Brian Beckstead, Discusses All Things Running
Altra was founded in 2011 when two high school trail running friends, who didn’t like their shoes, found a toaster oven and started heating up and “zero-dropping” their shoes. Ten years later, after two buy-outs, most recently by VF Corp. and a cadre of world champion trail runners and Olympians...
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July 20, 2021
Gwen Jorgensen is Leaving Bowerman Track Club
After four years at the Nike-sponsored club, the 2016 Olympic gold medalist in triathlon is making some big changes. Women's Running
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July 20, 2021
Does CrossFit Have a Future?
After the pandemic and accusations of racism almost destroyed the gym brand, a new owner tries to bring it back. The New Yorker
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July 15, 2021
Kate Hudson-Backed Apparel Brand Fabletics Taps Banks for IPO
Fabletics, the workout-apparel brand backed by Kate Hudson, has tapped banks to help it prepare for an initial public offering that it hopes would value it at more than $5 billion, according to people familiar with the matter. WSJ
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July 14, 2021
She Used to Sell the Shoes, Now Tracy Ann Roeser Designs the Running Shop
The lifelong runner designed a new Long Island running store and a space for Olympic athletes to train—all while working from home during COVID-19. Women's Running
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July 14, 2021
Peloton Pays Out Musicians Better Than Spotify, Apple
On a per stream basis, Peloton blasting your favorite song during a workout supports the artist who made it more than clicking play on the top music streaming services. Peloton pays musicians $0.03 per stream. Neither Spotify nor Apple Music pays even one full cent, respectively doling out $0.0035 and $0.0068 per stream....
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July 14, 2021
34% of professional riders receive no salary, says Cyclists’ Alliance 2021 Rider Survey
Every year The Cyclists' Alliance carries out a rider survey to provide hard data on the current ‘status quo’ of professional women's cycling. With regards to salaries, the survey found that 86% of riders surveyed this year think that salaries for women’s professional cycling are too low for the level...
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July 13, 2021
F45 Training Reveals More About IPO In Revised Filing
In a revised S-1 form filed with the Securities and Exchange Commission for its initial public offering (IPO), F45 Training, Austin, Texas, revealed that it expects to sell 20.3 million shares to the public at $15 to $17 per share. If all goes as planned, the company could be valued at $1.45...
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July 12, 2021
Shimano to invest nearly $300M in Singapore and Japan factories
An Asian news source is reporting that Shimano plans to invest $179 million to build a new plant in Singapore that will open next year. According to the report Shimano also decided to invest another $118 million in its factories in Osaka and Yamaguchi, Japan, to expand production capacity. BRAIN
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July 8, 2021
Michael Avenatti sentenced to 2.5 years in prison for attempting to extort Nike
A federal judge on Thursday sentenced celebrity lawyer turned criminal defendant Michael Avenatti to 30 months in prison for attempting to extort millions of dollars from Nike. Avenatti, who rose to fame as Stormy Daniels' lawyer, was convicted in February 2020 of three counts for threatening to publicly accuse the sportswear company...
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July 8, 2021
Adidas auction of Reebok takes a hit as key bidder Authentic Brands drops out
A key bidder has dropped out of the auction for Reebok, making it more likely that German-based Adidas will take an even bigger hit on its disastrous, 15-year stint as the owner of the struggling sneaker brand, The Post has learned.
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July 8, 2021
Asobi Ventures acquires majority stake in Cinelli and Columbus brands
Asobi Ventures has acquired a majority share in Gruppo Srl, the parent company of Italian bicycle manufacturer Cinelli and tube manufacturer Columbus. In partnership with Austin, TX-based Asobi Ventures, Cinelli and Columbus plan to expand their footprint with bike dealers globally while building on the foundations it has established in...
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July 7, 2021
X2 Performance, a manufacturer of sports drinks and supplements, raised $16 million
Giants running back Saquon Barkley has joined Bucs linebacker Lavonte David and the NBA’s Kawhi Leonard as an investor in X2 Performance, the makers of non-carbonated energy drinks. Barkley’s investment comes as part of a $16 million Series D raise, led by previous investor L Catterton. The company started in...
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July 5, 2021
What’s Next for Peloton After a Rocky, Record-Setting Year
Peloton has beaten earnings estimates every quarter of 2021 so far. However, product issues and a crowded market pose new threats. Front Office Sports
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July 1, 2021
Ridepanda receives $3.75 million in financing from four investors
E-commerce company Ridepanda announced it received a combined $3.75 million in financing from investors to help meet demand for its electric vehicles, which include e-bikes. In addition to e-bikes, Ridepanda offers e-mopeds and e-scooters with financing, extended warranties, and customer services, including assembly at home or at a nearby shop. BRAIN
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July 1, 2021
Adidas shortlists bidders in Reebok sale
Adidas has drawn up a shortlist of bidders for its Reebok brand as it seeks to draw a line under an ill-fated investment that never lived up to the German sporting goods company's expectations, sources close to the matter said. U.S. rival Wolverine, which has partnered with brand transformation specialist...
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June 30, 2021
Mary Cain launches professional women’s running team
Mary Cain has announced the launch of her new professional women’s running team, Atalanta New York. Cain previously ran for Alberto Salazar and the Nike Oregon Project (NOP), and in 2019, four years after leaving the team, she opened up about the emotional and physical abuse she endured in her...
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June 30, 2021
Hoka One One Taps Industry Veteran Matt Rask to Take Its Footwear Design to the Next Level
Prior to Hoka One One, the 20-year industry vet held senior design positions at athletic behemoths Nike and Under Armour, and launched his own industrial design service company, Jackalope Studios, where he worked with outdoor leaders including Patagonia and Keen. Footwear News
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June 30, 2021
Adidas Launches Share Buyback Program
Adidas said its Executive Board has decided to launch a share buyback program in the second half of 2021 amid confidence the company’s latest strategy, ‘Own the Game,’ would generate “substantial” cumulative free cash flow over the next five years. SGBMedia
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June 29, 2021
Gympass Emerges Stronger Out Of The Pandemic, Doubles Valuation To $2.2B
The company announced Tuesday that it has closed on a $220 million round, at more than double its last valuation of $1 billion in June 2019. The corporate wellness platform is now valued at $2.2 billion with SoftBank, General Atlantic, Moore Strategic Ventures, Kaszek and Valor Capital Group investing in this funding round. TechCrunch