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.
May 6, 2021
Orbea to move US operations to Boulder
After nearly 15 years in Little Rock, Arkansas, Orbea is moving its U.S. offices and operations to Boulder this month. Orbea said Boulder's central location will help provide better dealer support and customer care, and the region offers a pool of talent. Bicycle Retailer
May 6, 2021
IOC and Pfizer strike vaccine deal for Tokyo 2020 athletes
The British Olympic Association has been handed a boost in its bid to vaccinate all its athletes and support staff prior to the start of the Olympic Games in Tokyo in less than 12 weeks’ time. Under a deal struck between the International Olympic Committee and pharmaceutical giant Pfizer, vaccines...
May 6, 2021
Peloton Sales Rise, But Treadmill Recall Looms
Peloton’s sales rose 141% in its fiscal Q3, bringing revenue to $1.26 billion as the pandemic-fueled at-home fitness boom continued into the early months of 2021. But Peloton anticipates $165 million in fiscal Q4 losses related to the recall of its two treadmills. Front Office Sports
May 5, 2021
Fitbit CEO James Park Shares His Health and Fitness Habits
At 44, tech heavyweight James Park took his body and his workout to the next level—10 minutes at a time. Men's Health
May 5, 2021
Adidas launches Reebok auction, China row may dent Asian interest
Adidas has launched the sale of its Reebok brand in an auction which risks being affected by a political row over possible forced labour in China's western Xinjiang region. Adidas bought the U.S. fitness label for $3.8 billion in 2006 to help compete with arch-rival Nike, but its sluggish performance led...
May 5, 2021
Oura Brings In $100M in Funding
Oura Health announced Tuesday that it has raised $100 million in Series C funding, bringing the company’s total funds to $148.3 million. The wearable fitness manufacturer produces the Oura Ring, a sleep and activity tracker you can slide on your finger. More than 500,000 have been sold. Front Office News
May 4, 2021
ClassPass, Fitness Tech Firm MindBody Eye Merger, IPO
ClassPass and Mindbody, which provide technology to fitness companies worldwide, have been discussing a merger, Bloomberg reported, citing unnamed sources. ClassPass, works as a subscription-based business, allowing users to book workouts at fitness studios and other locations. In January 2020, ClassPass said its valuation was above $1 billion since it had gotten $285...
May 4, 2021
Under Armour Rallies in Q1
The company’s Q1 2021 earnings show a major bounce back from this time last year. Sales rose 35% year-over-year, bringing revenue to $1.26 billion. Online sales led the charge with 69% growth, and the company had an overall profit of $77.8 million. Front Office Sports
May 4, 2021
Zoomo raises $12 million to bolster ‘e-bikes for businesses’ model
The newest round of funding follows an $11 million Series A raise announced in August 2020, led by the CEFC. Cumulatively, Zoomo has raised $26 million in the past 24 months. Zoomo will use the funds to invest in the development and production of the brand’s next-generation vehicle offerings as well...
May 3, 2021
Fast growing running shoe company ON Running targets autumn IPO: sources
Shoe firm ON Running, backed by Swiss tennis star Roger Federer, is preparing for a U.S. stock market listing as early as this autumn in a deal valuing the firm at about $5 billion, people close to the matter said. Reuters