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.
September 25, 2024
The Pro’s Closet may be in deep trouble
As the days shorten in the northern hemisphere, many bike shops put items that haven’t yet sold on clearance. But at online retailer The Pro’s Closet, which specializes in certified used bikes and gear and liquidating new, prior-year product, this is no normal end-of-season closeout section. For one thing, virtually...
September 25, 2024
Is Google Fitbit in trouble? Website shutdown revitalizes concern about the brand’s future
9to5Google spotted that Fitbit.com, the official website for the popular brand of wearable fitness trackers, is not long for this world. At the top of the page is a new message stating that the site's functions will move to the Google Store on Oct. 1. Google bought Fitbit for $2.1 billion in 2019...
September 23, 2024
Bicycle Transit Systems to Acquire BCycle from Trek
Trek’s bike share operator, Bicycle Transit Systems, Inc., announced that it signed a definitive agreement to acquire BCycle from Trek. The acquisition will make Bicycle Transit Systems North America’s only docked bike share company with fully integrated end-to-end operations and allow it to expand mobility options in cities nationwide with...
September 19, 2024
Giant officially takes ownership of Stages
Giant Bicycles announced Thursday that it has taken full ownership of Stages Cycling via its indoor cycling subsidiary SPIA after a judge overseeing Stages’ bankruptcy approved the purchase agreement. This comes five months on from the Taiwanese bike manufacturer suing Stages for US$14 million, based on unpaid invoices and products;...
September 19, 2024
Fitness On Demand Partners with Motosumo to Expand Cycling Options
Fitness On Demand has announced a new partnership with Motosumo, a company that uses smartphone technology to turn any stationary bike into a platform for live, interactive cycling classes. The collaboration will allow users to access live and on-demand classes through Fitness On Demand’s platform, making interactive cycling more accessible...
September 17, 2024
IRONMAN sued by TriBike Transport
Litigation is currently underway in a lawsuit between IRONMAN and former bike shipping specialist TriBike Transport. The lawsuit was originally filed by TriBike Transport on March 25, 2024, and is ongoing. In its suit TriBike Transport is claiming breach of contract against IRONMAN, claiming that the international event series did not meet certain...
September 17, 2024
Triathlete Matt Hanson on partnering with AI coaching platform Humango
You can’t have a discussion about sports technology today without including athletes in that conversation. Their partnerships, investments and endorsements help fuel the space – they have emerged as major stakeholders in the sports tech ecosystem. The Athlete's Voice series highlights the athletes leading the way and the projects and...
September 16, 2024
Strava introduces Metro academic research initiative
Strava, the digital platform for athletes that now boasts more than 125 million users, has launched the Metro for Academic Researchers Programme. This programme is specifically designed for college and university students, as well as academic researchers, to support projects that aim to enhance biking and pedestrian infrastructure in both urban...
September 16, 2024
Hoka Parent Deckers Brands to Execute Six-for-One Forward Stock Split
Deckers Brands, the parent of the Ugg, Hoka, Teva, Koolaburra, and Ahnu, reported that during its annual meeting held on September 9, 2024, the company’s stockholders approved a six-for-one forward stock split and a proportionate increase in the number of authorized shares of its common stock. Deckers said it filed...
September 16, 2024
Lolë acquires cycling and sports brands owned by Louis Garneau Sports
Athletic wear brand Lolë has announced the acquisition of Louis Garneau Sports, a known company in the field of cycling and sports equipment with three brands: Garneau, Sugoi and Sombrio. The company said in a release that the strategic acquisition marks an important step in Lolë's expansion and strengthens its...