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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January 21, 2020
More Than Half of Polyester in Adidas’ Sneakers Will Be Recycled This Year
Adidas has achieved a major milestone on the sustainability front. The sportswear giant has announced that more than half of the polyester used in its products this year will come from recycled plastic waste. It also shared plans to use only recycled polyester starting in 2024. Further, the Three Stripes expects to produce...
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January 16, 2020
Spartan co-founder Will Dean concedes to bankruptcy process
Will Dean filed a Notice of Consent To Order For Relief And Appointment of a Chapter 11 Trustee. The motion states that he “…will cooperate with the trustee to preserve value for the creditors” and that the Board “consents to a sale of the business to Spartan Race Holdings. Inc.,...
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January 13, 2020
Spartan Pushes Tough Mudder Toward Chapter 11
The saga continues with Tough Mudder, its co-founder, the companies it owes money to, and Spartan, who wants to acquire them. Spartan has filed a statement in support of an emergency motion of petitioning creditors to appoint a Chapter 11 trustee. Read more on MudRunGuide.
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January 13, 2020
U.S. to probe Fitbit, Garmin, other wearable devices after Philips complains
U.S. trade regulators said on Friday they will investigate wearable monitoring devices, including those made by Fitbit Inc (FIT.N) and Garmin Ltd (GRMN.O), following allegations of patent violations by rival Koninklijke Philips (PHG.AS) and its North America unit. More info on Reuters.
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January 9, 2020
How Target could rival Nike and Adidas with its new athletic brand
Target has big ambitions in the athletic space. The chain today announced the launch of All in Motion, a private-label athletic and sporting goods brand — and it says the label could do $1 billion in sales in its first year. The size-inclusive brand launches this month with men’s, women’s and children’s...
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January 9, 2020
Fitness device upstart takes on Apple, Peloton, Fitbit at CES 2020
China-based Huami (HMI) already has set its sights on being the innovation leader in the wearable fitness device market. Now the ambitious company, little known in the U.S., is making a splash at CES 2020 with a lineup of impressive new contraptions, and not all of them wearable. Not familiar with the...
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January 7, 2020
Tough Mudder creditors try to put race company in bankruptcy
Tough Mudder Inc. creditors are attempting to push the organizer of extreme obstacle races into bankruptcy over $855,000 that they say the company owes them. The firm is facing claims from Valley Builders LLC, Trademarc Associates Inc. and David Watkins Homes Inc., all of which provide general contractor or building services. The trio filed an involuntary petition...
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January 7, 2020
Town Sports acquires Flywheel Sports
Town Sports International Holdings Inc., one of the largest owners and operators of fitness clubs in the Northeast, agreed to acquire the studio business of Flywheel Sports Inc., the spin chain. Established in 2010, Flywheel has 29 indoor cycling locations across the United States. In June 2018, reports arrived that Flywheel had...
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January 7, 2020
Canyon Bicycles hit by cyber attack
Germany direct-to-consumer bike brand Canyon Bicycles has confirmed that it was hit by a cyber attack just before the start of the year. While the company was locked out of its IT systems at its Germany headquarters, its e-commerce website and U.S office’s IT system was not affected. Read more on Endurance...
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January 6, 2020
Kyle McLaughlin steps down as CEO of Tough Mudder
Kyle McLaughlin, was hired as Senior VP of North America by Tough Mudder on June 1, 2018. He was named President on February 1 of last year, and then promoted to CEO on July 1. In a statement release yesterday, McLaughlin discusses the challenges Tough Mudder has had and his...
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January 2, 2020
Nike retailers will reportedly stop shipping internationally in 2020
Nike will reportedly cease to permit international shipping among its retail partners around the world starting January 1, 2020. This information first came to light in leaked emails several months ago, in which Nike apparently expressly forbid its retail partners from shipping “outside of their trading territory.” Read more on Highsnobiety.
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January 2, 2020
Here are 2019’s highest earning OCR athletes
Can you guess what 2019’s highest earning obstacle course racing athletes get paid? If you think you can make a decent living racing obstacle courses, think again. Even the top racers in the country are making surprisingly little, and their winnings are considerably higher than the previous year. Read this list and earnings on Obstacle Racing Media.
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December 26, 2019
Spartan Race looks to acquire Tough Mudder in 2020
Spartan Race announced the acquisition of an exclusive option to acquire Tough Mudder’s UK, Canadian, and German events, as the first step in an effort to bring together a complete merger of the two obstacle course racing leaders. Read more about this significant news in obstacle course racing on Obstacle...
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December 23, 2019
Swimming’s governing body is in hot water
On December 16, a San Francisco court ruled that the Fédération Internationale de Natation (FINA), the body based in Lausanne, Switzerland, that governs Olympic swimming, has to answer to allegations that it has been operating an illegal monopoly, in part by financially punishing athletes who want to compete in events that it doesn’t recognize or...
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December 19, 2019
Nike Q2 earnings blow past forecasts as digital efforts take hold
The Beaverton, Ore.-based athletic behemoth posted Q2 revenues that climbed 10% year over year to $10.3 billion, outpacing analysts’ expectations of $10.1 billion. Profits, meanwhile, advanced 32% to $1.1 billion, or 70 cents per share, trouncing forecasts for earnings of 58 cents per share. Read how digital came into play on...