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.
June 16, 2023
Asics Invests In Virtual Reality Exercise
Asics Corp. announced that its investment subsidiary, Asics Ventures Corp., had invested in Valkyrie Industries, Ltd., a London-based startup that combines virtual reality with electrical muscle stimulation. The funding will accelerate the product development of EIR Armbands, Valkyrie’s wearable muscle-based haptics that uses electronic pulses to simulate weight and tension in...
June 11, 2023
The 16 Best Running Books to Inspire and Motivate You
Running books are looking different these days. In the past, running books have largely covered what you can do to become a faster and more efficient runner. And while these types of running books are essential, real athlete stories about overcoming injury and whistleblowing racism and abuse in the sport...
June 9, 2023
Pinarello nears sale to billionaire Ivan Glasenberg, according to reports
Italian bike brand Pinarello could be sold to billionaire Ivan Glasenberg, according to reports. The South African was previously the CEO at Glencore, one of the world’s largest commodity trading and mining companies before retiring in 2021. Although he still retains a 10% share in the business. BikeBiz
June 8, 2023
Jumbo-Visma left with €5 million budget shortfall as Gorillas fail to deliver sponsorship
Jumbo-Visma have reportedly lost the sponsorship funding of German ultrafast grocery delivery company Gorillas, leaving an estimated €5 million hole in their 2023-2024 budget. Cycling News
June 8, 2023
How Lululemon took on Nike to become a Fortune 500 company and $8 billion athleisure empire
Lululemon’s branding as a hip retailer targeting a wealthy clientele has been vital to its growth, hence why the company is credited with the invention of “athleisure,” at the intersection of good fit and high-quality fabrics. It’s slowly expanded into menswear and, more recently, golfing and hiking clothes. And it’s...
June 7, 2023
New Balance plans 120,000-square-foot manufacturing facility in Londonderry
Footwear maker New Balance wants to build a factory in Londonderry as part of its larger effort to expand manufacturing capacity in the U.S. The 17-acre property is intended to be the sixth U.S. manufacturing facility for New Balance, with the plan including a one-story building that will contain offices...
June 7, 2023
Adidas offers student loan help for US employees
Adidas is offering to help its U.S. employees pay down their student loans. On Tuesday, the global shoe and apparel retailer announced that full-time employees who work at least 30 hours a week qualify for a $100 per month – or $1,200 per year – stipend through the company’s new...
June 6, 2023
Gatorade opens R&D lab in New York, US
PepsiCo-owned drinks brand Gatorade has announced the opening of the Gatorade Sports Science Institute (GSSI) research and development lab in Valhalla, New York. The new laboratory is designed to provide opportunity for innovation and discovery, to support product development across all ‘Gatorade Portfolio’ brands, including Gatorade, Fast Twitch, Propel, Muscle...
June 5, 2023
New Balance Invests $65 Million in Maine Factory Expansion
New Balance is expanding its athletic footwear manufacturing factory in Maine. The brand announced today that it has broken ground on the expansion efforts to its current Skowhegan, Maine factory. The expansion consists of a 120,000-sq.-ft., single-story addition that New Balance said will be completed by the end of 2024....
June 5, 2023
Bike Retailers Ride Inventory Glut As Demand Softens
As American consumers return to spending money on experiences post-pandemic, they’re not spending nearly as much at bike shops as they did during the COVID-19 outbreak. Thus bike retailers that struggled to keep inventory in stock during the peak demand of the lockdowns and restrictions of 2020-2022 now have too much...