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.
March 25, 2022
Injured rider sues Costco and e-bike brand over right-front brake lever setup
An Arizona woman is suing San Diego e-bike company Phantom Bikes and Costco Wholesale for $6 million. Carol Penkert's suit claims her bike came set up so the right brake lever operated the front brake, which caused her to flip over the handlebar and sustain serious injuries. Bicycle Retailer
March 24, 2022
Health-tech focus for Eckuity strategic investment in PTO
Eckuity, a global investment firm, has made a strategic investment alongside Sir Michael Moritz, partner at Sequoia Capital, in the Professional Triathletes Organisation (PTO). The amount of the investment was not disclosed. Based in New York, Paris and London, Eckuity is a global venture capital investor. It invests in early-stage...
March 23, 2022
Giant and Orbea say they have stopped business in Russia
After initially being unavailable to comment, Giant Group and Orbea each now say they have halted business in Russia due to the country's invasion of Ukraine. Bicycle Retailer
March 21, 2022
Who’s earning what? Report reveals top-20 pro cycling salaries
Ever wondered how much you’d earn if you won the Tour de France twice before you turned 23? Six million euros ($6.6 million) a year, that’s how much. The Calcio e Finanza study shows the top 20 salaries for male pro cyclists in 2022. Although the numbers are best-guess calculations rather...
March 21, 2022
Nike Gets Needed Boost from Earnings Beat
Nike saw modest sales growth in its fiscal third quarter as it continues its push toward direct-to-consumer sales. The Swoosh notched $10.9 billion in revenue, up 5% year-over-year (8% on a currency-neutral basis) in the quarter ending Feb. 28. Front Office Sports
March 21, 2022
Athleisure Brand Balance Athletica Changes Its Name After New Balance Lawsuit
Balance Athletica, a Denver-based athleisure brand, has officially changed its name following a trademark infringement lawsuit filed by New Balance. In the lawsuit filed in Nov. 2020 in the U.S. District Court of Massachusetts, New Balance alleged that Balance Athletica was using a “confusingly similar mark to sell the same...
March 18, 2022
On Reports 70.4% Increase In Full-Year Net Sales
The sustainable footwear and activewear company saw positive results globally. In Q4, net sales in North America jumped 100.1% to roughly $142.7 million, and 96.8% to around $438 million for the full year. Net sales in Asia-Pacific jumped 35% to roughly $11.3 million during the quarter, while full-year net sales for the...
March 18, 2022
Equity crowdfunding a new twist for bike startups
Equity crowdfunding was established in 2012, when the Obama Administration enacted the Jumpstart Our Business Startups (JOBS) Act. At first, only accredited investors could participate. Five years later, another addition to the JOBS Act opened up the industry to the general public, not just high-net-worth individuals. Bicycle Retailer
March 16, 2022
Specialized founder Mike Sinyard steps down from CEO role
After 48 years at the helm of Specialized, founder Mike Sinyard has appointed former Dyson executive Scott Maguire as the new CEO. As Founder, Chairman and Chief Rider Advocate, Sinyard will remain the brand's 'visionary leader' but the responsibility of running the business will now fall on Maguire. Cycling Weekly
March 14, 2022
F45 Training’s Sales Grew 63 Percent In 2021
F45 Training Holdings Inc. reported sales grew 242 percent in the fourth quarter and 63 percent in the fiscal year ended December 31. Total revenue increased $51.7 million, or 63 percent, to $134.0 million from $82.3 million as compared to the prior year. SGB Media