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 27, 2021
ROUVY partners with Animotion BV to boost its presence and activities in the Benelux countries
Zottegem, Belgium / December 27, 2021 /ENDURANCE SPORTSWIRE/ - In order to promote the joy of indoor cycling and running in AR (augmented reality) in Belgium, the Netherlands and Luxembourg, Animotion BV, headquartered in Zottegem, Belgium, has signed a multi-year partnership agreement with VirtualTraining s.r.o. located in the Czech Republic; and...
December 23, 2021
Meta Director of Sport Peter Hutton Joins Professional Triathletes Organisation’s Board of Directors
LONDON, ENGLAND: The Professional Triathletes Organisation today announced that it has appointed Peter Hutton, Director of Sports Partnerships at Meta, to its Board of Directors. In Hutton’s Silicon Valley based role at Meta, he is in charge of the company’s sports strategy and partnerships worldwide, helping rights holders, broadcasters, agencies,...
December 23, 2021
Salazar’s Lifetime Ban Upheld By Safesport Center
The U.S. Center for SafeSport on Wednesday upheld its permanent ban of former Nike Oregon Project coach Alberto Salazar, The ruling affirmed a July decision by SafeSport, an independent nonprofit organization based in Denver, CO that responds to reports of misconduct within the U.S. Olympic and Paralympic sports, to permanently...
December 23, 2021
Under Armour, Columbia Facing Headwinds
Under Armour and Columbia were downgraded by market analysts Stifel, highlighting the challenges facing the sports category. Analyst Jim Duffy lowered the two brands from “Buy” to “Hold” — while lowering Nike’s price target but maintaining its “Buy” rating. The analyst foresaw short-to-mid-term concerns limiting the upside of both brands....
December 23, 2021
BikeExchange acquires US bike delivery service Kitzuma
Online cycling marketplace BikeExchange has acquired US-based bike delivery service Kitzuma for $3.375 million (£2.5 million). Australian firm BikeExchange said it made the acquisition to help drive its e-commerce-first strategy, with the aim of improving both seller and customer experience. Bike Biz
December 22, 2021
Believe in the Run and PUMA Partner On Activation of the Fast-R Nitro Debut
/ENDURANCE SPORTSWIRE/ - Believe in the Run, a media company centered on run and run culture, recently partnered with PUMA on a dual activation for the debut of PUMA’s newest racing shoe, the Fast-R Nitro Elite. The activation consisted of a shakeout run and live lunch podcast and took place...
December 21, 2021
Fitness Apps Market Could Be Worth $120.37B by 2030
According to a study by Allied Market Research, in 2020, the fitness apps market was worth a total of $13.78 billion, and the compound annual growth rate would be 24.3%. The study suggested that an increased awareness of “a healthy lifestyle” and “diet-related diseases,” as well as an increased use of devices...
December 21, 2021
Thousands of JD Group Stores To Sell ABG’s Reebok
Reebok, purchased by Authentic Brands Group in August, will now be sold in thousands of JD Group stores thanks to a new agreement between the companies. The non-exclusive deal comes after ABG announced plans to buy Reebok from Adidas for $2.46 billion — the acquisition is set to close in Q1 2022. JD Group, which...
December 21, 2021
Vietnam factory closures cause Nike to cancel 130M units
As a result of three months of closures and limited production volume as it ramped back up its factories in Vietnam, Nike had to cancel 130 million units. Despite the challenges, the company's net revenue in Q2 edged up 1% to $11.4 billion while net income grew 7% to $1.3...
December 21, 2021
Orbea licenses part of its shock integration technology to Canyon
Canyon will partially license Orbea's patented rear-shock lockout cable routing technology. Orbea's patent for the "Inside Line" covers improvements to the lockout routing, enhancing aesthetics and providing a more direct path between the shock and remote lever. BRAIN