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 9, 2022
Nike’s 50th anniversary: How the swoosh has changed running forever
Fifty years after the birth of Nike, it's impossible to imagine the running world without it. From record-breaking shoes to Olympic kit, via running crews and online ads, the swoosh is everywhere. And yet, implausible though it now seems, the Nike story began, unpromisingly, with a piece of college homework....
December 9, 2022
Rad Power Bikes suffers a third round of layoffs
North America's largest e-bike company, Rad Power Bikes (opens in new tab), is currently conducting its third round of layoffs in a year filled with lawsuits, manufacturing defects, layoffs and a market downturn. Cycling Weekly
December 8, 2022
Lululemon Lifts Outlook As Q3 Comps Surge 22 Percent
Lululemon Athletica, Inc. again raised its outlook for sales and earnings for the year after reporting third-quarter results that topped guidance. Comparable sales in the quarter increased by 22 percent, or 25 percent on a constant dollar basis. Sales of $1.9 billion exceeded guidance in the range of $1.780 billion to $1.805 billion. EPS of $2.00...
December 8, 2022
Former Hydro Flask CEO to Lead Puffin Drinkwear
Puffin Drinkwear, makers of personality-infused apparel for your drink to wear, announced that Scott Allan is being brought on as interim CEO starting immediately. Allan led Hydro Flask initially as President & CEO and following its acquisition by Helen of Troy, as SVP & Global GM. SES
December 7, 2022
Anta Exploring Amer Sports IPO
Anta Sports Products, Ltd., the Chinese sports equipment corporation headquartered in Jinjiang, is reportedly holding preliminary talks with investment banks for an IPO of Amer Sports that could raise about U.S.$1 billion or more, according to Bloomberg. Amer Sports, headquartered in Finland, is the parent of Salomon, Arc’teryx, Peak Performance, Atomic, Suunto,...
December 7, 2022
Cycling industry layoffs: Strava and Wahoo cut 15% of workforce
According to Bicycle Retailer and Industry News(link is external), Strava — the ride-tracking app which claims to have the world's largest sports community of more than 100 million users — has let go at least 40 employees, including product designers and product managers. One former employee told the cycling industry news website that 14 per...
December 6, 2022
Peloton Execs Sued for Alleged Insider Trading
A Peloton shareholder is suing some of Peloton’s former and current executives claiming they engaged in insider trading, according to a Nov. 18 filing made public on Nov. 28 and first reported by Bloomberg Law. Club Industry
December 6, 2022
Bioniq acquires home fitness mirror firm VAHA
Personalised nutrition firm Bioniq has acquired VAHA, which is billed as… ‘Europe’s leading interactive home fitness mirror and the first of its kind in the UK.’ The acquisition is seen as a continuation of Bioniq’s expansion plan and strengthens its health subscription offering in Europe and the Middle East. Endurance.biz
December 5, 2022
Metabolism tracker Lumen raises US$62 million
Metabolism measurement platform Lumen, has raised US$62 million in a series B funding round led by Pitango Venture Capital. Participating investors include Hanwha Group, Resolute Ventures, RiverPark Ventures, Unorthodox Ventures, Almeda Capital and Disruptive VC. Endurance Biz
December 5, 2022
Sportswear manufacturer Cytech acquires Pasasport
The buyout brings together two manufacturers with a history of innovation in the production of performance cycle clothing, Cytech introducing at Eurobike this year the world’s first 3D printed chamois pad. More than 90 per cent of the company’s turnover is generated in foreign markets and its products are sold...
