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 4, 2023
UK Luxury Gym Third Space Secures $107M To Fuel Growth
Third Space, a London-based luxury fitness lifestyle brand, has received £88.5 million ($107.4 million) to support the growth of its footprint and its team. The posh fitness brand is known for its opulence, having attracted high-profile clientele such as Prince Harry, David Beckham and Guy Ritchie. Neo bank OakNorth and...
October 4, 2023
On Announces its Three Year Financial Outlook, Confirming its Ongoing Commitment to Combine Strong Growth with Increasing Profitability
Swiss performance sportswear brand On (NYSE: ONON) will today, October 4, 2023, host an Investor Day at On Labs in Zurich, Switzerland. Two years after the Company’s IPO and following the successful execution on the growth strategies presented during the listing process, the Company is providing an update on its...
October 4, 2023
Mancini victims eager to see ‘justice done’
Victims of what prosecutors call a “Ponzi-like” scheme to buy several Italian cycling brands are asking a judge to release pre-sentencing materials for Samuel Mancini, who has pleaded guilty to securities fraud in the case. Mancini pleaded guilty in April 2022, but a sentencing hearing has been repeatedly postponed and...
October 3, 2023
Nike, Adidas and Skechers Among Top 20 US DTC Footwear Brands, According to Similarweb
Nike‘s plan to grow its DTC capabilities appears to be on the right track, according to recent data from Similarweb, which analyzes web traffic. The Swoosh earned the top spot among U.S. footwear brands with a large DTC presence. This digital ranking from Similarweb was arranged in order of total...
October 2, 2023
Report: Vuori Mulling 2024 IPO
Fast-growing activewear brand Vuori is reportedly talking to bankers about a possible initial public offering next year. A report Friday from Bloomberg said the Encinitas, California-based company, valued at $4 billion, could look to go public as soon as mid-2024. SES
September 29, 2023
Lululemon Lays Off 120 Employees in Wake of Peloton Deal
Lululemon is undergoing another round of layoffs this week in the wake of its new partnership with Peloton, the company confirmed to FN. Under a new five-year deal announced this week, Peloton became the official digital fitness content provider for Lululemon Studio All-Access Members and Lululemon became the primary athletic...
September 29, 2023
Meet triathlon’s richest (former) pro
For those of us who have been in the sport for a while, we’ll always remember him as the quiet-spoken champion. He won Ironman Switzerland five times. The famed Zofingen Powerman duathlon eight times. He was the world duathlon champion three times. He was professional in every respect of the...
September 28, 2023
Lululemon and Xponential Fitness Confirm Ongoing Retail Partnership
Peloton will develop digital fitness content for Lululemon, while Lululemon will become Peloton’s primary athletic apparel provider. Lululemon also plans to discontinue sales of its Studio Mirror product before the end of the year. SGB
September 28, 2023
Nike Beats Profit Expectations in Q1, Misses on Sales
The athletic giant reported Q1 revenues of $12.9 billion, up 2 percent compared to the prior year. This was in line with Nike’s previously issued guidance for Q1, which projected revenues between flat to up in the low single digits. However, it fell slightly short of FactSet estimates, which expected...
September 27, 2023
Peloton, Lululemon Partner on Content as Mirror Gets the Ax
After abandoning the connected fitness ship and pivoting to app-based experiences, Lululemon and Peloton have teamed up in a five-year global partnership to reach a combined 20 million members and guests. Lululemon is also finally shutting down its connected fitness Mirror, which it will discontinue before the end of the...