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.
September 11, 2023
Nike officially abandons efforts to reopen its Northeast Portland Community Store
Nike has abandoned its efforts to reopen its long-shuttered community store in Northeast Portland and now plans to make the store's closure permanent. "Nike’s commitment to supporting and uplifting Portland’s North and Northeast community is unwavering," the company said. "We are reimagining Nike’s retail space, permanently closing our current location...
September 7, 2023
Volkswagen Financial Services acquires minority stake in Pon Holding’s leasing subsidiary
Volkswagen Financial Services (VW FS) and Pon Holdings (Pon) have announced a development in their partnership in company bike leasing with VW FS acquiring a 49% stake in the Pon bike leasing subsidiary Bike Mobility Services (BMS). The Memorandum of Understanding (MoU) on this strategic alliance was signed at the...
September 7, 2023
USATF Board Member Jim Estes Suing USATF & Max Siegel for Negligence & Defamation
Last week, USATF board member Jim Estes filed a lawsuit in Marion County, Ind., against USATF, its CEO Max Siegel, and its COO Renee Washington. Estes is alleging negligence by USATF and Washington and defamation per se and invasion of privacy by Siegel. All of this stems from the bidding process for the...
September 6, 2023
Pon Bike acquires Italian shoe brand Nimbl
Dutch cycling powerhouse Pon Bike has announced the acquisition of premium Italian cycling shoe brand Nimbl. The brand, founded by Francesco Sergio, former Head of Sports Marketing for Cervelo, has an established relationship with Team Jumbo Visma. Unusually, in the world of pro team sponsorship, Sergio has intimated that it...
September 6, 2023
Zwift and Wahoo partner-up again after patent spat
Indoor training giants Zwift and Wahoo have agreed to start collaborating again after settling a patent lawsuit earlier this week The latter took legal action against Zwift in October 2022 for alleged patent infringement relating to its Hub smart trainer, launched in September. Last week, it was reported that both parties had agreed to end the...
September 6, 2023
USTA Launches Investment Fund to Support Tennis Growth
The USTA (U.S. Tennis Association) has launched USTA Ventures, through the USTA Strategic Investment Committee, which will be charged with evaluating a broad spectrum of long-term investment opportunities. The focus will be on acquiring potential equity stakes in technologies and other companies that will help to advance the growth of tennis...
September 5, 2023
Lithium-ion battery company BMZ Group acquires Nox Cycles
Lithium-ion battery manufacturer The BMZ Group acquired e-bike brand Nox Cycles Austria, its sister companies in Germany and Switzerland, and the Hawk Bikes brand. The BMZ Group has been the battery and motor supplier for Nox e-MTB models and its distributor and online retail partner. The group acquired from Gaby...
September 5, 2023
Doug Emslie’s Cuil Bay Capital launches with acquisition of Raccoon Media Group
Cuil Bay Capital (CBC), a new investment vehicle led by Informa advisor and former Tarsus Group CEO Doug Emslie, has announced its inaugural investment, the acquisition of a majority stake in Raccoon Media Group. Founded in 2016, Raccoon achieved acclaim with the launch of the multi-award-winning National Running Show, which...
August 31, 2023
Wahoo and Zwift agree to settle patent suit
Last October, Wahoo sued Zwift and JetBlack for patent infringement, alleging that Zwift’s new Hub trainer, which JetBlack manufactures, infringed on its patents. Wahoo quickly settled with JetBlack, with Jet Black agreeing not to sell its version of the Hub, called the Volt, in the U.S. or Europe. JetBlack continues...
August 31, 2023
Lululemon’s Raises Outlook As Q2 Comps Jump 11 Percent
Lululemon Athletica, Inc. raised its guidance for the year as second-quarter results exceeded expectations. Earnings rose 21.6 percent on an adjusted basis in the quarter with revenues ahead 18 percent. Comparable sales increased 11 percent or 13 percent on a constant dollar basis. Sales of $2.2 billion topped guidance in the...