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.
April 13, 2022
Peloton Activist Investor Calls for Sale
Two months ago, Peloton bowed to shareholder pressure and removed John Foley as CEO. Now, an activist investor is agitating for a bigger change. Blackwells Capital renewed its call for Peloton to be sold, saying that the connected fitness giant cannot effectively reverse its slide as a public company. Blackwells...
April 13, 2022
New Balance Continues to Expand in Boston With an Innovative Multisport Facility
Today, the athletic giant revealed The Track at New Balance, which is located across from its global headquarters at Boston Landing. The company described the new building as a place where Team New Balance, as well as professional and community athletes, will train and compete year-round. Yahoo Life
April 12, 2022
Rad Power Bikes lays off 100 employees, about 14% of staff, after raising $304M last year
Rad Power Bikes is slashing 100 jobs from its 725-person workforce as part of what the Seattle e-bike business describes as a restructuring. The cuts affect employees who helped power the company’s mobile services arm, which is shutting down, including those on the ground and at the Seattle headquarters. GeekWire
April 11, 2022
Brooks Appoints Chief Running Advisor
Brooks has named the two-time US Olympian Des Linden its chief running advisor. Linden will help the running brand conceive and create new products and technology. SGB Media
April 11, 2022
Police recover prototype CeramicSpeed bikes stolen from headquarters
Police have recovered all three prototype bikes that were stolen from headquarters of Driven, the drivetrain start-up connected with component brand CeramicSpeed, Bicycle Retailer and Industry News (BRAIN) has reported. The two prototype bikes are valued at $40,000 and $30,000 each while the third bike is valued at $12,000. Bikebiz
April 7, 2022
Cycling investment group director Samuel Mancini pleads guilty to securities fraud
Samuel Mancini, the director of a Denver-based fund that planned to invest in several well-known cycling brands, has pleaded guilty to one count of securities fraud. Mancini, arrested last July, could be sentenced to up to 20 years in prison and hit with a $5 million fine for the one...
April 6, 2022
IFit Withdraws IPO Following Postponement In October
NordicTrack brand owner iFit Health & Fitness Inc. is scrapping its plans for an already postponed initial public offering, according to a filing with the Securities and Exchange Commission on Wednesday. MarketWatch
April 5, 2022
Flexia Raises $4 Million In Funding Round
Flexia, the at-home Pilates start-up, announced a $4 million seed round led by ADvantage, an early-stage VC fund investing in tech companies involved in sports, fitness, health, and gaming. Other strategic investors in the round include Phoenix Capital Ventures, Techstars, and Calm Ventures. SGB Media
April 5, 2022
Lululemon Taps Adidas, Nike Veterans for Key Footwear Roles as Brand’s New Shoe Biz Threatens Industry Giants
Lululemon announced the appointments of Simon Atkins to the role of SVP of footwear and Phil Dickinson to the role of SVP and global creative director. Atkins joins Lululemon after a 25-year stint at Adidas, where he most recently served as SVP and GM of global basketball and U.S. sports....
April 5, 2022
Nike retains title as world’s most valuable apparel brand while luxury brands boom after COVID-19
Changing consumer and industry pressures are changing the appearance of the apparel industry as sports and luxury clothing brands surge, and cheap fast-fashion brands contract, according to a new report from leading global brand consultancy, Brand Finance. The new report finds that amongst the top 50 apparel industry brands, the...