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.
December 12, 2023
Fitbit hit with $11m fine in Australia after misleading customers over returns and warranties
The tech company Fitbit will have to pay an $11m fine in Australia after misleading consumers about smartwatches and fitness trackers that were not fit for purpose. The federal court issued the penalty against the US firm on Tuesday after it admitted making false, misleading or deceptive claims to 58...
December 12, 2023
Nike Opens a Store in Tokyo That’s Dedicated to the City’s Running Community
Nike Ginza is the athletic giant’s new retail outpost, which is open now and is located in downtown Tokyo’s busy shopping district. Nike stated this area is also the home to a passionate running community. The store —which spans 12,765 square feet — utilizes its Nike Rise concept, one that is...
December 7, 2023
Pierer announces agreements to sell its Felt Bicycle and Raymon brands
Pierer Mobility AG said it has agreements to sell Felt Bicycle, which it acquired in 2021, to a consortium led by a current manager. The Austrian motorcycle and e-bike company also has agreed to sell its Raymon e-bike brand to its founders, Susanne and Felix Puello, and focus on its KTM,...
December 6, 2023
Nike and Lululemon Post Epic Retail Traffic Surges on Black Friday
Lululemon will report fiscal third-quarter results after the market closes on December 7 and Nike will report fiscal second-quarter results after the market closes on December 21. Today, LULU shares are up 27x from its adjusted IPO price on July 1, 2007, while NKE shares are up 7.9x over the...
December 5, 2023
BowFlex Risks NYSE Delisting Over Low Market Cap
BowFlex, the Washington-based fitness equipment maker formerly known as Nautilus, has received notice from the New York Stock Exchange (NYSE) warning the company that it isn’t in compliance with continued listing standards, which requires it to maintain an average global market capitalization of at least $50 million over a 30-day...
December 4, 2023
Xponential Fitness Acquires Lindora Weight Loss Clinics
Focused on weight management and metabolic health, Lindora clinics offer GLP-1s like Ozempic, IV drips, hormone replacement therapy, and cold laser therapy, among other treatments. Expanding its empire beyond exercise, XPOF will acquire Lindora’s intellectual property and take over 31 existing clinics, with plans to franchise the brand globally. Fitt...
December 4, 2023
Brooks CEO Jim Weber and President Dan Sheridan on Fueling Growth in China and Europe, Tapping into the Retro Running Boom + More
Late last week, CEO Jim Weber and president Dan Sheridan spoke with FN on the final day of The Running Event (TRE), the annual running industry trade show held in Austin, Texas. During the event, Brooks revealed several products it expects to impress all types of running consumers throughout 2024,...
December 1, 2023
Runna Raises $6.3M for Running Coach App
Runna, a personalized running coach app that debuted in 2021, has closed another venture capital round, raising £5 million ($6.3 million), bringing Runna’s total raised funds to over £8 million ($10 million). JamJar led the latest funding, which included participation from Eka Ventures, Venrex and Creator Ventures. Since its launch,...
November 28, 2023
PEARL iZUMi and Nathan owner, United Sports Brands, acquired by Norwest Equity Partners
Norwest Equity Partners (NEP), a middle market investment platform founded in 1961, has acquired United Sports Brands (USB), which has a diverse portfolio of sporting goods and active lifestyle brands. The transaction closed on November 20, 2023, and financial terms were not disclosed. United Sports Brands’ (USB’s) six brands are: PEARL iZUMI,...
November 28, 2023
Tonal Sues Smart Home Gym Rival Speediance
Tonal, the smart home gym company, has filed a lawsuit against competitor Speediance, alleging the rival brand infringes on its patents and is engaging in false and misleading advertising. The China-based Speediance is also alleged to tout itself as the “Tonal killer” and alter and/or delete reviews on its website...