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.
November 18, 2020
Brooks Running Gains New Runners with 49% Global Growth in Q3
Brooks Running reported record third quarter global revenue up 49 percent year over year, leading to a 2020 outlook of 27 percent growth. Brooks’ digital sales flexed from less than 35 percent of sales in 2019 to a peak of 82 percent of all sales this past April, and has since...
November 17, 2020
Mars to buy Kind bars maker to push into healthy snacks market
Candy manufacturer Mars Inc will buy Kind North America, the company that makes healthy granola and energy bars, as the Snickers and M&M maker looks to extend its global reach. Kind will operate as a separate business within Mars globally, the companies said. Reuters
November 17, 2020
POM hires former Bike editors, will launch mountain bike title
Pocket Outdoor Media is adding scale to its Active Pass membership by hiring five Bike magazine editors who were furloughed this fall. The crew will lead the effort to launch a new mountain bike title in 2021. A360 Media also announced in October that it will “pause” the magazine as...
November 16, 2020
Emerald appoints Hervé Sedky as President and Chief Executive Officer
Sedky brings three decades of experience including, most recently, six years as President of Reed Exhibitions Americas. Before that, he was an executive for 20-years at the American Express Company, where he held the title of Senior Vice President and General Manager of American Express Business Travel.
November 16, 2020
Lululemon to sell Mirror devices in stores, add community features
After acquiring the company over the summer, Lululemon will now offer Mirror devices at its stores across the U.S., beginning with 18 stores this holiday season. The athletics retailer is also introducing a range of new engagement features for the tech, including letting users turn on a built-in camera to...
November 16, 2020
‘I am committed to keep learning’: Chloe Dygert apologizes for controversial social media conduct
The American rider issued the apology after joining Canyon SRAM, having apparently liked a transphobic tweet from Donald Trump, as well as posts stating 'white privilege doesn't exist.' Cycling Weekly
November 16, 2020
Strava raises $110 million, touts growth rate of 2 million new users per month in 2020
The Series F round was led by TCV and Sequoia, and including participation by Dragoneer group, Madrone Capital Partners, Jackson Square Ventures and Go4it Capital. The funding will be used to propel the development of new features, and expand the company’s reach to cover even more users. Tech Crunch
November 11, 2020
Defamation suit against USA Cycling dismissed
A federal judge has dismissed former congressional candidate and Olympic gold medal cyclist Marty Nothstein’s lawsuit against the sport’s governing body over its disclosure of a sexual misconduct allegation against him. Nothstein alleged USA Cycling damaged his reputation and invaded his privacy by placing him on a list of cyclists...
November 10, 2020
Peloton, Beyoncé Ink Multi-Year Content Partnership
Connected fitness company Peloton and 24-time Grammy award-winning singer Beyoncé have a multi-year content partnership that includes elements to honor Historically Black Colleges and Universities. The first initiative between the parties is a series of classes to commemorate “homecoming season,” the annual fall tradition at HBCUs. Read more on Front...
November 10, 2020
Adidas Earnings Recover in Q3, But Lockdowns Could Affect Outlook
The German-based sportswear company reported that income for the three months ending Sept. 30 was $683 million down from $761.5 million a year earlier. Revenues in Q3 decreased 7% to $7.04 billion; Q2 revenue decreased 34%. In the first nine months of 2020, revenues decreased 18% on a currency-neutral basis....