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.
June 22, 2023
Under Armour Confirms Corporate Layoffs in Cost-Control Efforts
Under Armour Inc. has confirmed reports that the company has laid off 50 corporate positions as part of cost-control efforts. Under Armour said in a media statement, “Under Armour made the difficult decision to eliminate approximately 50 corporate roles across several functions in the business. We made this decision to...
June 22, 2023
Lululemon fails to find buyer for failing Mirror fitness gadget
Popular athletic apparel company Lululemon can’t find a buyer for fitness product Mirror — despite slashing the value it paid for the device by nearly 90%, insiders told On The Money. Lululemon paid $500 million for the low-tech gadget during the height of the pandemic-induced exercise craze in 2020. However,...
June 21, 2023
Train Fitness Closes $2.5 Million USD To Expand Automatic Workout-Tracking App For Strength Training
Train Fitness has secured $2.5 million USD in seed funding led by Relay Ventures to make recording your workouts at the gym less of an exercise in data entry using artificial intelligence (AI) and smartwatches. The Toronto fitness-tech startup claims its app can help users log strength-training workouts automatically by...
June 21, 2023
Under Armour Begins Corporate Layoffs
The Baltimore, Md.-based company confirmed to Footwear News that it has cut roles across its corporate workforce. Under Armour did not confirm the number of impacted employees or the reason for the cuts. The news comes as Under Armour, helmed by a new CEO, rolls out a plan to revamp...
June 20, 2023
Reebok Enters Into Smart Eyewear Licencing Agreement
Innovative Eyewear, Inc. announced that through an agreement with Authentic Brands Group, it had licensed the Reebok brand for smart eyewear. Innovative Eyewear is a manufacturer and retailer of smart eyewear under the Lucyd, Nautica and Eddie Bauer brands. Authentic also owns Nautica and Eddie Bauer. SGB Media
June 20, 2023
What Do Professional Trail And Ultrarunners Earn?
We recently conducted a survey aimed to collect data from numerous professional runners from around the globe. This anonymous survey was filled out by nearly 200 athletes and was designed to gain insight into some key issues regarding professional athletic careers and elite competition as the sport of trail and...
June 16, 2023
Asics Invests In Virtual Reality Exercise
Asics Corp. announced that its investment subsidiary, Asics Ventures Corp., had invested in Valkyrie Industries, Ltd., a London-based startup that combines virtual reality with electrical muscle stimulation. The funding will accelerate the product development of EIR Armbands, Valkyrie’s wearable muscle-based haptics that uses electronic pulses to simulate weight and tension in...
June 11, 2023
The 16 Best Running Books to Inspire and Motivate You
Running books are looking different these days. In the past, running books have largely covered what you can do to become a faster and more efficient runner. And while these types of running books are essential, real athlete stories about overcoming injury and whistleblowing racism and abuse in the sport...
June 9, 2023
Pinarello nears sale to billionaire Ivan Glasenberg, according to reports
Italian bike brand Pinarello could be sold to billionaire Ivan Glasenberg, according to reports. The South African was previously the CEO at Glencore, one of the world’s largest commodity trading and mining companies before retiring in 2021. Although he still retains a 10% share in the business. BikeBiz
June 8, 2023
Jumbo-Visma left with €5 million budget shortfall as Gorillas fail to deliver sponsorship
Jumbo-Visma have reportedly lost the sponsorship funding of German ultrafast grocery delivery company Gorillas, leaving an estimated €5 million hole in their 2023-2024 budget. Cycling News