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.
January 23, 2024
Electric Bike Market Value Projected at $62B
The global electric bike market is currently valued at $49.1 billion. With a compound annual growth rate (CAGR) of 4.9%, the market is projected to reach $62.3 billion by 2023–2030, predicts Persistence Market Research. The increasing awareness of environmental sustainability, government incentives and advancements in battery technology are driving market expansion. RV...
January 22, 2024
MyFitnessPal Appoints New CEO, Collabs With Kate Hudson
MyFitnessPal has named Mike Fisher as its new CEO, a move that comes after the global nutrition and food tracking app recently announced a new partnership with Kate Hudson. Fisher, who has previously served at Etsy, Quigo, AKF Partners and PayPal, succeeds Dinesh Lathi, who will remain involved with MyFitnessPal...
January 21, 2024
Peloton Offloads Output Park Factory in $33M Deal
Peloton has sold its spacious Peloton Output Park (POP) facility and land in Ohio to First Solar for a cool $33 million. The commercial real estate transaction closed on January 11, according to Wood County records. Athletech News
January 19, 2024
Sports Illustrated’s Publisher Guts Staff. Future Unclear
Staffers at Sports Illustrated were notified on Friday of massive layoffs—some immediately, others in short time, with potential for the entire staff to be gone in three months. Authentic, the licensing group that purchased Sports Illustrated for $110 million from Meredith five years ago, has terminated the agreement it holds with The Arena Group to publish SI...
January 18, 2024
Who Earns Most in Pro Cycling? Report Ranks Salaries, from Pogačar to Van der Poel and Beyond
Pogačar has been reported as the highest earner in pro cycling for several years. UAE Emirates’ centrepiece topped the WorldTour rankings every year since 2021 and brings sponsor-pleasing charisma both on and off the bike. The 25-year-old’s current deal with UAE Emirates stretches through 2027, meaning he’s got a cool...
January 18, 2024
Hyperice Casts Wider Net in Defense of Massage Gun Patent, Files 16 More Suits
Hyperice, the high-performance wellness brand and innovator of percussion, dynamic air compression, thermal, vibration, and contrast therapy technology, filed 16 additional lawsuits in Federal Court on Tuesday, January 16, 2024 against Sharper Image, HoMedics, Ekrin Athletics, and more than a dozen others, including retailers CVS, Costco, Walgreens and Kohl’s, related...
January 18, 2024
Asics, Ugg, and On Saw Massive Growth on StockX in 2023, According to Year-End Report
Asics, which broke a number of its own sales records last year, jumped from tenth to fifth on the resale platform’s list of top-selling sneaker brands, thanks to a 239 percent boost in sales. StockX also reported a 240 percent growth for MSCHF, in large part due to the virality...
January 15, 2024
Designing shoes for women’s feet with Wes and Allyson Felix of Saysh (2023)
On How I Built This Lab, Allyson and Wes talk with Guy about their journey to the top of the track and field world, the decision to leave Nike, and how they built the iconic shoe that Allyson wore during her gold medal performance at the 2020 Olympics in Tokyo....
January 12, 2024
Hot Shoe Brand On Running Sets Aggressive Sales Goals
Executives from rising shoe brand On Running gave an update on the company’s goals, including doubling its sales in the next three years, at the ICR Conference in Orlando, Florida, earlier this week. The Switzerland-based company is on a steep upward trajectory, with $1.58 billion in net sales for the...
January 11, 2024
Merrell, Saucony Parent Company Sells Shoe Brand Sperry
Wolverine Worldwide, parent company of Merrell, Saucony, Chaco, and other brands, announced it has sold boat-shoe brand Sperry to Authentic Brands Group and the Aldo Group. The deal closed on Jan. 10, and is expected to generate about $130 million in the first quarter to pay down debt. The announcement...