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 15, 2020
USA Cycling just overhauled its youth development system. Here’s why.
The new Olympic Development Academy system charges riders $10,500 to participate, but offers high-performance coaching and racing opportunities to a wider group of cyclists. VeloNews
December 15, 2020
Canyon bicycles set to be acquired by Groupe Bruxelles Lambert
Canyon sought a new equity partner after its relationship with TSG Consumer Partners concluded earlier in 2020. Canyon founder Roman Arnold still however remains the largest individual shareholder in Canyon, with 40% of its shares. VeloNews
December 14, 2020
Spinning creator files patent infringement lawsuit accusing Peloton of stealing its technology for their stationary bikes
Peloton Interactive has been hit with a patent infringement lawsuit from a company credited with sparking the world's indoor cycling craze over half a century ago. Daily Mail
December 10, 2020
Lululemon’s Quarterly Revenue Jumps 22% as Online Sales Soar
Athleisure giant Lululemon reported $1.1 billion in net revenue for its 2020 fiscal third quarter after markets closed on Dec. 10. Quarterly revenue jumped 22% as the as an online sales surge more than compensated for a dip in company-operated store sales. Front Office Sports
December 10, 2020
Louis Garneau Completes Financial Restructuring
The Louis Garneau Sports Group, which filed for creditor protection in Canada in March, announced a new investor to complete a reorganization and has set a brand relaunch. Its company founder, Louis Garneau, remains the majority shareholder. SGB Media
December 9, 2020
Peloton shares briefly fall as Apple announces cheaper rival fitness service launches Dec. 14
Apple announced Fitness+, a digital fitness subscription service, will launch on Dec. 14 at $9.99 per month. With this, shares of Peloton fell 2% in pre-market trading on the news but recovered after markets opened. CNBC
December 8, 2020
Pocket Outdoor of Boulder raises additional $5.27M
Pocket Outdoor Media LLC raised $5 million more within its Series A round, bringing its total funds raised in the round to just less than $16.5 million, according to filings with the U.S. Securities and Exchange Commission on Friday. The funds came from an additional 22 people and groups, bringing...
December 7, 2020
Bikes projected to outsell cars in Europe two-to-one by 2030
Three cycling associations this week announced a new forecast for the cycling sector, which showed that Europeans are expected to buy an extra 10 million bikes per year by 2030, a whopping 47% more than in 2019. Cyclingtips
December 4, 2020
New Balance is laying off several dozen employees as it shutters Boston factory
The footwear and apparel brand revealed that 63 employees at its Boston-based factory will be affected. Footwear News
December 4, 2020
A new challenge for professional triathletes: Toppling Ironman Inc.
For decades, the Ironman and other races filled with weekend warriors have dominated triathlon. Now, the elites are trying to take control with a new series. NYT (subscription)