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.
January 11, 2022
Planet Fitness bulks up with $800M franchise acquisition
Planet Fitness will acquire its largest franchisee, Sunshine Fitness, in an $800 million deal that will beef up the company’s presence in the Southeast. The Hampton, NH-based company said the acquisition is coming on the heels of strong growth in 2021, in which it added 1.7 million new customers for...
January 10, 2022
Lululemon Hit Hard By Omicron
Lululemon released preliminary earnings for its fiscal fourth quarter ending Jan. 31 and expects net revenue to be on the lower end of its previous guidance – between $2.125 billion and $2.165 billion. The low estimate is attributed to “several consequences of the Omicron variant, including increased capacity constraints, more...
January 7, 2022
Trek buys up another U.S. bike shop chain
Trek Bicycles has continued its spending spree of U.S. bike shops, adding to its portfolio Baltimore’s seven location Race Pace Bicycles. The acquisition of the store chain builds on a 2021 that saw repeated headlines hit on U.S. trade site BR∈ the first in January, relating to the buyout of...
January 6, 2022
Dorel completes bicycle operation sale to Pon Holdings for US$810m
Dorel Industries has completed the previously-announced sale of Dorel Sports, its bicycle segment, to Pon Holdings, the Dutch mobility group, for US$810 million. The transaction consisted of the sale by Dorel of 100% of the shares of its indirect wholly-owned subsidiary companies comprising Dorel Sports as well as certain related...
January 6, 2022
Lululemon Names New CEO Of Mirror
Lululemon Athletica, Inc. announced the appointment of Michael Aragon as CEO of Mirror and Lululemon Digital Fitness, effective January 17, 2022. In this role, Aragon will oversee the development and expansion of the Mirror in-home digital platform and will report directly to CEO, Calvin McDonald. SGB Media
January 5, 2022
VeloNews magazine merges with Peloton magazine
VeloNews and Peloton have been under the Outside umbrella since January of 2021. Now, in January of 2022, VeloNews magazine is merging into Peloton magazine. Further, authors and photographers from sister brand CyclingTips are also now contributing to the new Peloton magazine. VeloNews
January 5, 2022
Nike sues Lululemon over Mirror Home Gym, apps
Nike Inc on Wednesday filed a lawsuit accusing Lululemon Athletica Inc of patent infringement for making and selling the Mirror Home Gym and related mobile apps without authorization. In a complaint filed in U.S. District Court in Manhattan, Nike accused Lululemon of having “summarily” rejected its demand that it stop infringing...
January 4, 2022
Nike and Adidas are Losing Momentum in China to These Native Footwear Brands
Consumers in China increasingly prefer their own homegrown brands as opposed to international brands like Nike and Adidas, according to a December report from The NPD Group, which analyzed the Chinese footwear market in Q3 of 2021. According to the data, six of the top ten footwear brands in China in Q3...
January 4, 2022
Fox and SRAM end costly chainring and axle legal feuds
Fox and SRAM have kicked off the New Year with the settling of long-running legal quarrels dating back as far as 2015 and relating to patent disputes. The high profile saga drew to a close with both parties registering documents in Colorado and Illinois last week, each dropping their claims and...
January 4, 2022
Active Lifestyle Stocks Churn Out Robust Gains in 2021
With many companies seeing benefits from changed behaviors due to the pandemic, the vast majority of active lifestyle stocks soared to new heights in 2021. Of the 79 stocks in the active lifestyle space tracked by SGB Executive, only 14 showed declines, marking the third strongest year for the sector after several...