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 9, 2021
February bike imports continue surge
The U.S. brought in 1.38 million bikes in the month, worth $119 million. That's 74% more bikes than in February 2020 and 26% more in value, according to import statistics released by the Department of Commerce this week. Bicycle Retailer
April 8, 2021
Louis Garneau hopes to go public in 2 years, with assistance from e-bikes
Just a few months after emerging from Canada's equivalent to Chapter 11 bankruptcy, Louis Garneau Sports' president said his goal is to take the company public in two years. He's planning on e-bike sales providing a boost toward that goal. Bicycle Retailer
April 8, 2021
Vibram Announced Executive Leadership Changes
Eric Rosen, a 20-year veteran of the brand, will retire in April, and in conjunction with his departure, Vibram announces changes to its senior management team. SGB Media
April 8, 2021
The Shoes You Can Subscribe To
On Running, a shoe company affiliated with Roger Federer, is carving out a unique space among runners with a shoe you can swap out for a new pair whenever they get too run-down. Its new shoe, the Cyclon, is recyclable and made from castor beans. Castor oil, long used for medicinal...
April 8, 2021
Lance Armstrong’s son Luke arrested on sexual assault charges
The 21-year-old is accused of assaulting a 16-year-old girl in his father's home in 2018. Cycling News The affidavit, obtained by Texan television station KXAN, says that the then-18-year-old sexually assaulted a 16-year-old after a party in Austin in March of 2018. The girl reported the incident in November 2020, telling...
April 7, 2021
JBI back online in limited capacity after ransomware attack
Global wholesale distributor JBI was back online in a limited capacity Wednesday after a ransomware attack last week shut down its website. Bicycle Retailer
April 7, 2021
Planet Fitness Expands While Other Gyms Struggle
With 2,124 locations — 95% of which are run independently — Planet Fitness has stayed afloat through the pandemic and is now looking to open 100 new gyms, all while investing in advertising and its app. Front Office Sports
April 6, 2021
Former Nike Manager Pleads Guilty in Fraud Case
Errol Andam faces 24 months to 37 months in prison after pleading guilty to criminal charges of wire fraud, money laundering and submitting a false mortgage application. The plea agreement requires Andam to pay $1.49 million in restitution to Nike and $173,172 to another company called Maplewood Mfg. In February,...
April 5, 2021
SoftBank Invests $100 Million in Fitness Startup
SoftBank is set to invest more than $100 million in at-home fitness startup Tempo. The connected fitness system retails between $2,500 and $4,000 and comes with weights, barbells, and a touchscreen display that offers instruction and live classes for a subscription fee of $39 per month. Front Office Sports
April 2, 2021
Italian private equity firm buys Cytech Group
PM&Partners SGR, and Italian private equity company, has become the majority shareholder in Cytech, the parent company Elastic Interface and other cycing brands. In 2020 the company sold more than 3.2 million pads. Elastic Interface also has recently expanded into offer cycling glove pads, used by brands including Giro. Cytech's...