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.
April 7, 2022
Cycling investment group director Samuel Mancini pleads guilty to securities fraud
Samuel Mancini, the director of a Denver-based fund that planned to invest in several well-known cycling brands, has pleaded guilty to one count of securities fraud. Mancini, arrested last July, could be sentenced to up to 20 years in prison and hit with a $5 million fine for the one...
April 6, 2022
IFit Withdraws IPO Following Postponement In October
NordicTrack brand owner iFit Health & Fitness Inc. is scrapping its plans for an already postponed initial public offering, according to a filing with the Securities and Exchange Commission on Wednesday. MarketWatch
April 5, 2022
Flexia Raises $4 Million In Funding Round
Flexia, the at-home Pilates start-up, announced a $4 million seed round led by ADvantage, an early-stage VC fund investing in tech companies involved in sports, fitness, health, and gaming. Other strategic investors in the round include Phoenix Capital Ventures, Techstars, and Calm Ventures. SGB Media
April 5, 2022
Lululemon Taps Adidas, Nike Veterans for Key Footwear Roles as Brand’s New Shoe Biz Threatens Industry Giants
Lululemon announced the appointments of Simon Atkins to the role of SVP of footwear and Phil Dickinson to the role of SVP and global creative director. Atkins joins Lululemon after a 25-year stint at Adidas, where he most recently served as SVP and GM of global basketball and U.S. sports....
April 5, 2022
Nike retains title as world’s most valuable apparel brand while luxury brands boom after COVID-19
Changing consumer and industry pressures are changing the appearance of the apparel industry as sports and luxury clothing brands surge, and cheap fast-fashion brands contract, according to a new report from leading global brand consultancy, Brand Finance. The new report finds that amongst the top 50 apparel industry brands, the...
March 31, 2022
Nike To Pay $5 Million To Lontex Attorneys In Trademark Suit
Nike Inc. will have to pay $4.99 million to cover the attorneys’ fees and expenses that Lontex Corp. incurred in litigating to trial in an infringement case over Lontex’s “cool compression” trademark. SGB Media
March 30, 2022
Ahead of listing Felt parent adds 50% bike and 37% e-Bike growth
In its full year 2021 report, new Felt Bicycles parent Pierer Mobility has seen pedal powered bike sales rise by 50% and electric bikes register a 37% year-on-year uptick. Now selling three times the number of electric bikes than it does pedal cycles, at 76,916 units versus 25,837 units in...
March 29, 2022
Lululemon’s First Footwear Range Could Be ‘Another Market Game Changer,’ NPD Data Shows
NPD Group is banking on the success of Lululemon’s new footwear range. According to Matt Powell, NDP’s VP and senior industry advisor for sports, strong loyalty to the brand’s apparel will likely carry over to footwear and the category has the “potential to be another market game changer.” This insight comes...
March 29, 2022
Strava announces three-year partnership with Tour de France and Tour de France Femmes avec Zwift
The Tour de France and the Tour de France Femmes avec Zwift will ‘come to life’ inside the Strava app with a content hub dedicated to telling the story of the riders through their daily activity uploads and photos. Fans will be able to go inside Segments and relive the...
March 27, 2022
NordicTrack CEO Scott Watterson forced out in battle with Peloton
Investors insisted that 66-year-old Scott Watterson — a hard-charging billionaire entrepreneur who founded the company in 1977 after doing a stint as a Mormon missionary in Asia — relinquish control of the daily management of NordicTrack’s parent company, iFIT Health & Fitness, sources close to the situation said. NY Post
