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 18, 2022
Will Ventures closes second fund with $150M to invest in sports technologies
The low-flying, Boston-based venture outfit Will Ventures just tripled the size of its second fund to $150 million thanks to its approach of investing in sports technologies with the help of its community of athlete backers who help promote and grow the portfolio companies. Now armed with $150 million for...
October 18, 2022
Skechers Sues Hermès For Patent Infringement
In a statement, Skechers claims that in 2022, Hermès introduced two footwear styles, the Éclair and Envol, which use mid-sole and undersole design elements that infringe multiple Skechers patents for its Massage Fit technology that Skechers incorporates into its Skechers Go Walk series and other product lines. SGB Media
October 18, 2022
New Balance to establish distribution operations in Lebanon
Major sports footwear and apparel manufacturer to create more than 150 new jobs Tennessee Gov. Bill Lee, Department of Economic and Community Development Commissioner Stuart McWhorter and New Balance Athletics officials today announced the leading athletic footwear and apparel manufacturer will invest $68.5 million to establish a new distribution center...
October 17, 2022
The Pro’s Closet cuts workforce 15%, citing ‘economic headwinds’
The Pro's Closet laid off 15% of its workforce last week, the certified used bike and component retailer confirmed to BRAIN on Monday. TPC quickly expanded in size and workforce since beginning in 2006 as an eBay store. In May 2021, TPC announced it raised an additional $40 million in Series...
October 15, 2022
Thule makes 34 staff cuts in US
As Sweden-based Thule Group's executives are warning investors of a sharp decline in sales and earnings due to a softening bike sector, the company's Americas division is making organizational changes that include 34 staff cuts in management, product development, and manufacturing. Bicycle Retailer
October 13, 2022
North Arc Capital Acquires Project 321
North Arc Capital announced it had acquired the Project 321 brand, known for its magnetic-pawl mountain bike hubs, and bike hub-related assets from JLSO, Inc. Project 321, Inc. is a newly-formed, stand-alone company that was incorporated to complete this acquisition. SGB Media
October 12, 2022
Saris Cycling Group Acquired By C+A Global At Bankruptcy Auction
C+A Global acquired Saris Cycling Group at a bankruptcy auction and will rename the brand Saris Equipment. Based in Edison, NJ, C+A is a worldwide manufacturer and online retailer of consumer products and electronics. It is a longtime manufacturer of bike racks, trainers, storage racks, public bike systems, and infrastructure....
October 11, 2022
Bollé Brands to sell Cébé eyewear brand to D.MO/RACER
Bollé Brands has confirmed its intention to sell the Cébé eyewear brand to D.MO/RACER, which have joined forces to make the acquisition. D.MO’s executive team includes Sébastien Delsaux and Maxime Bos, who are former employees of Cébé. The new acquisition is supported by RACER’s historical finance partners, Upperside Capital Partners and...
October 11, 2022
Wahoo sues Zwift for patent infringement over turbo trainer
American company says Zwift's new Hub trainer is 'identical, in all material respects, to the KICKR CORE'. Cycling Weekly
October 7, 2022
Rad Power Bikes disputes State Farm fire claim
Rad Power Bikes denied that one of its e-bikes started a residential fire that caused property damage and led to a lawsuit being filed against the brand on Tuesday. The lawsuit states Luff's Rad Power e-bike — model not disclosed — malfunctioned and failed catastrophically and resulted in a fire...