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.
July 14, 2023
Lululemon Lays Off 100 Employees as It Reorganizes Studio Business
Lululemon has laid off about 100 employees as the company restructures its Studio business, a company spokesperson confirmed to FN. The cuts stemmed from Lululemon’s decision to “fully integrate” the recently launched fitness platform within Lululemon, the spokesperson said in a statement, adding that a majority of impacted employees were...
July 13, 2023
VanMoof Reported To Be on the Edge of Bankruptcy
VanMoof, the maker of supremely sleek and widely popular e-bikes, is close to potential collapse and on the verge of bankruptcy. The start-up was founded in Amsterdam in 2009, with the goal of creating "the perfect city bike." Since then, the company has expanded across nine different time zones, with...
June 29, 2023
Pinarello has been sold
Global investment firm L Catterton – whose owners include luxury behemoth LVMH – announced the sale of iconic Italian bicycle brand Pinarello to a “private family office.” The assumption is that the total was greater than the €90 million LVMH reportedly paid for Pinarello in 2016. Fausto Pinarello – the son...
June 23, 2023
Skechers U.S.A. Named To Fortune 500 List For First Time
Skechers U.S.A., Inc. made the Fortune 500 list for the first time following record annual sales of $7.4 billion in 2022. Skechers is one of only four brands in the apparel industry sector to make the list, debuting at number 488. SGB Media
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...