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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May 5, 2021
Oura Brings In $100M in Funding
Oura Health announced Tuesday that it has raised $100 million in Series C funding, bringing the company’s total funds to $148.3 million. The wearable fitness manufacturer produces the Oura Ring, a sleep and activity tracker you can slide on your finger. More than 500,000 have been sold. Front Office News
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May 4, 2021
ClassPass, Fitness Tech Firm MindBody Eye Merger, IPO
ClassPass and Mindbody, which provide technology to fitness companies worldwide, have been discussing a merger, Bloomberg reported, citing unnamed sources. ClassPass, works as a subscription-based business, allowing users to book workouts at fitness studios and other locations. In January 2020, ClassPass said its valuation was above $1 billion since it had gotten $285...
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May 4, 2021
Under Armour Rallies in Q1
The company’s Q1 2021 earnings show a major bounce back from this time last year. Sales rose 35% year-over-year, bringing revenue to $1.26 billion. Online sales led the charge with 69% growth, and the company had an overall profit of $77.8 million. Front Office Sports
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May 4, 2021
Zoomo raises $12 million to bolster ‘e-bikes for businesses’ model
The newest round of funding follows an $11 million Series A raise announced in August 2020, led by the CEFC. Cumulatively, Zoomo has raised $26 million in the past 24 months. Zoomo will use the funds to invest in the development and production of the brand’s next-generation vehicle offerings as well...
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May 3, 2021
Fast growing running shoe company ON Running targets autumn IPO: sources
Shoe firm ON Running, backed by Swiss tennis star Roger Federer, is preparing for a U.S. stock market listing as early as this autumn in a deal valuing the firm at about $5 billion, people close to the matter said. Reuters
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April 30, 2021
Emerald Holding Sees Steep Q1 Revenue Drop
Emerald Holding Inc. reported revenues tumbled 87% as results continue to be negatively impacted by event cancellations due to the pandemic. Emerald is actively pursuing collection of the remaining unpaid amounts of filed insurance claims for its canceled and impacted 2020 events. To date, Emerald has submitted $167 million in...
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April 30, 2021
ESW May 14, 2021 Weekly News Report
AWARDS USA Triathlon, Elk Grove Village Present 4 Star Endurance With Entrepreneur/Business Plan of the Year Award ESW USA Triathlon Announces Winners of 2020 Multisport Awards Presented by Wahoo Fitness ESW BUSINESS USA Cycling releases details of Inclusion Conference ESW TSG Consumer Partners to Sell Stake in Nuun to Nestlé Health Science Businesswire Credit Union Cherry Blossom...
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April 29, 2021
The Startup that Makes Fitness a Video Game
The gaming craze and at-home fitness come together in Ergatta’s rowing machine. The connected rowing company gamifies workouts, with its machine effectively acting as a controller, allowing people to race and compete on a screen as they work out. Front Office Sports
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April 29, 2021
Shimano bike division rides ‘wave of COVID’ to 76% sales growth in Q1
Shimano sales in its bike division were up 76.3% in the first quarter, compared to the same period last year; operating income in the division was up 170%. Net sales for the quarter were 103,757 million yen ($952 million) in the bike division, and operating income was 27,730 million yen....
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April 29, 2021
British Cycling joins social media boycott to protest online abuse towards athletes
Organisations from across the sporting world are banding together this weekend to fall silent on social media, to raise awareness of online racism and abuse directed towards professional sportspeople. Cycling Weekly
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April 28, 2021
Garmin’s Q1 Revenues Advance 25 Percent
Garmin Ltd. reported sales grew 25 percent in the first quarter ended March 27, led by gains of 38 percent in its Fitness segment, 46 percent in Outdoor and 28 percent in its Marine segment. Total revenue of $1.07 billion, a 25 percent increase over the prior-year quarter led by...
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April 27, 2021
Brooks Is Still Beating Nike in Women’s Performance Running — and the Gap Is Getting Wider
Matt Powell, senior sports industry adviser with The NPD Group Inc., reported that Brooks was the largest women’s performance running shoe brand for Q1 2021. He cited data from the NPD retail tracking service, revealing a Q1 sales increase of 88% for Brooks over its mark for the same period in...
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April 26, 2021
PTO taps IMG to help secure international broadcast deals
The IMG agency has been appointed to assist in distributing the global media rights to events organised by the Professional Triathletes Organisation (PTO). The three-year deal will initially focus on delivering global coverage and broadcast partnerships for this year’s Collins Cup, which will see 12-person squads from the US, Europe...
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April 25, 2021
Outpouring of Support for Daniela Ryf as the World Champ Opens Up About Her Sexuality
In a sweeping interview, Ryf talks about loving a woman, splitting with her coach, and finding a new direction. Triathlete
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April 22, 2021
Peloton Spiraling Over Treadmill Safety
The connected fitness company is in hot water over injuries and a death related to its Tread+ treadmill. Following reports of 39 incidents, one fatal, related to the Tread+, the Consumer Product Safety Commission released a warning saying that the product is not safe for homes with children or pets....
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April 22, 2021
Skechers’ Profits Surge In First Quarter
Skechers U.S.A., Inc. saw its earnings double in the fourth quarter as sales grew 15%. International Wholesale sales grew 23.8% while direct-to-consumer (DTC) sales jumped 18.1%. The company also predicted sales would advance about 26% in 2021. SGB Media
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April 22, 2021
Sales in the Americas fuels Thule’s 46% net sales gain in Q1
Thule Group net sales for the first quarter of the year increased 46% year-over-year, which was helped by sales in the Americas that jumped 83% after currency adjustment. Sport and cargo carriers drove the Region Americas growth with bike product demand leading the way. Bicycle Retailer
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April 21, 2021
Proposed Class Action Lawsuit Filed Against Peloton Over the Peloton Tread+
On Tuesday, a proposed class action lawsuit was filed against Peloton regarding safety issues with the Peloton Tread+. In the complaint, they allege that Peloton has marketed the Tread+ as being appropriate for families. The filing then goes on to allege that the Peloton Tread+ has unique design flaws, making...
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April 21, 2021
Nike names new assistant coach in Portland, Oregon
Sonia O'Sullivan will join former assistant coach of the Nike Oregon Project Pete Julian as the group prepares for the Olympics. She will be moving from her home in Melbourne, Australia, to the U.S. to join Julian, who is the former assistant coach to Alberto Salazar at the now-disbanded Nike Oregon Project....
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April 21, 2021
Fitness Giant Xponential Planning to Go Public After Acquiring Rumble
Xponential Fitness is in talks to go public — again. The owner of several boutique fitness brands is circling the idea of an IPO for the second time after acquiring Rumble Boxing for $300 million last month. The company put talks of going public on the backburner when COVID-19 first hit. Justin...
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April 20, 2021
Under Armour Scales Back Global HQ Plans as Pandemic Reshapes Work
Under Armour is downsizing its future headquarters in its home city of Baltimore. The sportswear giant has announced plans to scale back its global corporate and Americas regional functions into a 50-acre site in Port Covington, which it purchased five years ago. According to Under Armour, the headquarters — expected...
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April 20, 2021
The Fitness Company Whose Priority Isn’t Actually Fitness
When it comes to fitness equipment, Bala Fitness is banking on consumers judging a book by its cover. Fitness accessory company Bala Fitness focuses on style over fitness, an approach that has led to an uptick in sales since the pandemic started. Bala is headed toward $40 million in sales in...
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April 19, 2021
Airbnb announces $8 million Athlete Travel Grant scheme to support Olympians and Paralympians
Up to 500 athletes a year will receive $2,000 (£1400/€1600) in promotional credit with The Olympic Partner (TOP) member Airbnb in new scheme to support travel, accommodation and training. Inside the Games
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April 19, 2021
Self-Driving Cars: A Tutorial for Cyclists and Runners
Will self-driving cars be safer than human-driven vehicles? Almost certainly. Avoiding collisions with people, cyclists, or other vehicles is an essential requirement of the self-driving vehicle. What can we do now to help self-driving vehicles see and avoid us? Slowtwitch
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April 19, 2021
At-Home Fitness Company Tempo Raises $220 Million
Tempo, an at-home fitness subscription system that says it had zero cancelations in the past year, raised $220 million in Series C funding led by Japanese holding company SoftBank. Front Office News