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.
October 29, 2020
Wall Street suddenly loves bike companies thanks to cycling boom
In October, Canyon, a high end, direct-to-consumer bike brand, announced that it was in talks with private equity and buyout firms. A sale could bring in $592 million and start a trend. Find out what other companies are making waves here.
October 29, 2020
Lululemon Wants to Achieve Full Pay Equity for Gender and Race by 2022
The athletic apparel and accessories chain announced today that it has developed a long-term strategy to become a more equitable business through inclusion and diversity, as well as minimize its environmental impact. It set 12 ambitious goals, which involve commitments to invest $75 million into wellbeing programs by 2025, expand...
October 29, 2020
Hoka Drives Stellar Quarter for Deckers Brands
Deckers Brands posted a monster quarter with sales rising 14% in constant currency, driven by 83% growth in its running brand Hoka One One. The brand, which has been on a tear for quite some time, increased 83% to $143 million. Nearly every brand in the company portfolio grew during the...
October 28, 2020
Whoop, maker of the fitness tracker that pro athletes love, is now valued at $1.2 billion
Some of the biggest names in sports are investing in the wearable company Whoop amid a global pandemic. The fitness tracking company announced it closed a $100 million financing round. Whoop is the fitness tracker of choice for a number of pro athletes, now used to help monitor potential symptoms...
October 28, 2020
Shimano’s Earnings Climb In Nine Months
Shimano Inc. reported earnings rose 10.4% in the nine months ended September 30 despite a 2.0% dip in sales. Earnings reached ¥47,231 million, up from ¥42,799 million a year ago. Sales were ¥264,174 million against ¥269,523 million. Operating income increased 7.7% to ¥54,300 million and ordinary income increased 5.7% to...
October 27, 2020
Triathlon Apparel Brand HUUB Secures Pre-Launch £575,000 Crowdfunding After 681% Sales Lift
The British triathlon apparel brand secured the investment in a 48-hour private launch ahead of the public release of a crowdfunding campaign on Oct. 28. HUUB had set a minimum target of £250,000 on the Crowdcube platform and blew past this within hours. Read more on Forbes.
October 26, 2020
Thule rides bike boom to 45% growth in Q3
Sales for the third quarter ending in September were SEK 2,436 million ($278 million), up from SEK 1,682 million ($192.1 million) from the third quarter 2019. The COVID-19 pandemic caused Thule's sales to decrease 4.9% in the first quarter and 11.6% in the second quarter. Read more on Bicycle Retailer.
October 22, 2020
Is Adidas Selling Reebok?
The German sportswear giant is reportedly looking to sell the athletic brand and could decide in the next few months whether to move forward with the process. An internal review is said to be in the early stages, while Germany’s Manager Magazin indicated that Adidas plans to complete the sale...
October 21, 2020
Canyon Bicycles Draws Takeover Interest From Carlyle, KKR.
Canyon Bicycles GmbH has drawn takeover interest from private equity giants. Investors are looking to capitalize on renewed enthusiasm for one of Europe’s favorite pastimes. The bike maker is working with bankers at Robert W. Baird & Co. on a sale that could fetch more than 500 million euros ($592...
October 20, 2020
Former pro cyclist Bradley Wiggins liquidates businesses with debts of over £1m
Two of Bradley Wiggins’s companies are being wound up with debts in excess of £1m and look set to leave creditors hundreds of thousands of pounds out of pocket. Read more on Cycling Weekly.