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 19, 2023
Startup Raises $3M To Help Athletes Flex Their Creator Muscles
Grandstand, the athlete empowerment startup, recently raised $2.75 million in a funding round led by Will Ventures, with plans to launch an app that would allow fans to follow and financially support their favorite players. Sportico
October 19, 2023
Meta, Alo Yoga Hit With VR Fitness Lawsuit
Meta has again been accused of gatekeeping the burgeoning virtual reality fitness space, this time drawing the ire of an immersive VR app developer, who slapped the tech titan and athleisure brand Alo Yoga with a lawsuit. The plaintiff, California-based Andre Elijah Immersive Inc. (AEI), is a self-proclaimed new entrant...
October 19, 2023
Wiggle future in doubt as business set to file for self administration
The parent Signa Sports United, whose largest shareholder is Signa International Sports Holding, is facing down the prospect of losing a €150 million financial commitment, on which just €7 million has thus far been drawn to support the network of companies’ trading activities. The ultimate source of the funding withdrawal...
October 17, 2023
Peloton Expands Into Austria
Peloton announced its expansion into Austria, its fifth market outside the U.S. Starting today, the Peloton Bike, Bike+, and select accessories will be available to consumers in Austria through its expanded relationship with Amazon. Sport-Tiedje, the largest specialist retailer of home fitness equipment in Europe, will sell Peloton Bike, Bike+,...
October 4, 2023
UK Luxury Gym Third Space Secures $107M To Fuel Growth
Third Space, a London-based luxury fitness lifestyle brand, has received £88.5 million ($107.4 million) to support the growth of its footprint and its team. The posh fitness brand is known for its opulence, having attracted high-profile clientele such as Prince Harry, David Beckham and Guy Ritchie. Neo bank OakNorth and...
October 4, 2023
On Announces its Three Year Financial Outlook, Confirming its Ongoing Commitment to Combine Strong Growth with Increasing Profitability
Swiss performance sportswear brand On (NYSE: ONON) will today, October 4, 2023, host an Investor Day at On Labs in Zurich, Switzerland. Two years after the Company’s IPO and following the successful execution on the growth strategies presented during the listing process, the Company is providing an update on its...
October 4, 2023
Mancini victims eager to see ‘justice done’
Victims of what prosecutors call a “Ponzi-like” scheme to buy several Italian cycling brands are asking a judge to release pre-sentencing materials for Samuel Mancini, who has pleaded guilty to securities fraud in the case. Mancini pleaded guilty in April 2022, but a sentencing hearing has been repeatedly postponed and...
October 3, 2023
Nike, Adidas and Skechers Among Top 20 US DTC Footwear Brands, According to Similarweb
Nike‘s plan to grow its DTC capabilities appears to be on the right track, according to recent data from Similarweb, which analyzes web traffic. The Swoosh earned the top spot among U.S. footwear brands with a large DTC presence. This digital ranking from Similarweb was arranged in order of total...
October 2, 2023
Report: Vuori Mulling 2024 IPO
Fast-growing activewear brand Vuori is reportedly talking to bankers about a possible initial public offering next year. A report Friday from Bloomberg said the Encinitas, California-based company, valued at $4 billion, could look to go public as soon as mid-2024. SES
September 29, 2023
Lululemon Lays Off 120 Employees in Wake of Peloton Deal
Lululemon is undergoing another round of layoffs this week in the wake of its new partnership with Peloton, the company confirmed to FN. Under a new five-year deal announced this week, Peloton became the official digital fitness content provider for Lululemon Studio All-Access Members and Lululemon became the primary athletic...