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.
January 11, 2024
Merrell, Saucony Parent Company Sells Shoe Brand Sperry
Wolverine Worldwide, parent company of Merrell, Saucony, Chaco, and other brands, announced it has sold boat-shoe brand Sperry to Authentic Brands Group and the Aldo Group. The deal closed on Jan. 10, and is expected to generate about $130 million in the first quarter to pay down debt. The announcement...
January 10, 2024
Giant Group Sees Another Steep Decline in December Revenues
Giant Group reported consolidated sales were NT$76.95 billion for full-year 2023 through December, a decrease of 16.4 percent compared to the 2022 full-year period. December revenues were down 25.8 percent to NT$4.17 billion, compared to NT$5.62 billion in December 2022. Still, the Taiwan-based bike manufacturing group, which reports in New...
January 8, 2024
Planet Fitness Nears 20 Million Members Amid Strong Growth
Planet Fitness is winning over consumers as the low-price, high-value fitness franchise nears 20 million members, according to its year-end operational metrics. As of December 31, 2023, the “Judgement Free” fitness franchise grew its membership to approximately 18.7 million members, an increase of 1.7 million since the end of 2022....
January 5, 2024
Muuvr Raises $4.2M for Rewards-Based Fitness App
Muuvr surpassed its original funding target with a $4.16 million post-seed funding round, the company announced. That, combined with $1.67 million in founder loans, sets Muuvr’s total capital increase at $5.84 million. The post-seed funding round was led by what Muuvr described as “influential private individuals and family offices. Investors...
January 4, 2024
Peloton to bring its content to TikTok in exclusive partnership
Fitness equipment maker Peloton Interactive (PTON.O) will bring its workout content to short-form video platform TikTok in an exclusive partnership, the companies said on Thursday. The partnership comes as Peloton, shares of which extended gains to jump 9.5% in premarket trading, is pivoting from hardware and transforming into a software-focused...
January 3, 2024
Planet Fitness busts gym barriers with help from Megan Thee Stallion
Low-cost gym chain Planet Fitness partnered with Megan Thee Stallion for a new campaign meant to break down fitness barriers in the new year, according to a press release. To capitalize on the interest in fitness that typically arrives in January, the rapper is playing the role of Mother Fitness,...
January 3, 2024
Red Bull acquires controlling stake in Bora-Hansgrohe
According to a notice published on Austria’s Federal Competition Authority, which was spotted by keen-eyed observers and posted on Twitter/X, Red Bull has acquired a 51 per cent stake in the German WorldTour cycling outfit. The notice, filed under the category of merger control and described as a “planned purchase...
January 3, 2024
Global Wellness Economy Projected To Hit $8.5T by 2027
A new report brings encouraging news to the wellness sector, with the total wellness economy projected to hit a staggering $8.5 trillion in 2027 after reaching $5.5 trillion in 2022. Research by the Global Wellness Institute (GWI) reveals that wellness spending is expected to profoundly impact the global economy in...
January 3, 2024
Chipotle and Strava Want to Give You Free Guac
On Tuesday, Chipotle Mexican Grill announced a partnership with Strava, the digital fitness tracking giant, “to encourage and reward healthy habits this year.” The burrito and bowl chain has become the first restaurant brand to build customized streak and segment-based challenges on Strava. According to press release from Chipotle, the...
January 3, 2024
Hyperice Sues Therabody Over Massage Gun Patent Infringement
Hyperice has filed a lawsuit in federal court against Therabody, asserting that the company infringed its recently issued U.S. Patent No. 11,857,482. The patent claims technology dating to 2013, which is used in Hyperice products like its Hypervolt Go 2, Hypervolt 2 and Hypervolt 2 Pro massage guns. In the...