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.
August 14, 2024
Bike Matrix compatibility index bags $2 million industry investment
Following a successful showing at Eurobike 2024 where it picked up an award, B2B parts compatibility solution Bike Matrix has secured NZ$2 million seed investment from within the industry. The Bike Matrix compatibility index allows users to “select a bike and see what fits” and is designed to simplify life for...
August 14, 2024
Asics Is Growing its Presence in the Crucial Run Specialty Channel in North America
Asics reported results for the first half of the year that showed solid growth across several regions and channels, including in the crucial North American run specialty channel. According to the Japan-based athletic brand, net sales for the first six months of 2024 increased 18 percent to 342 billion yen driven by...
August 13, 2024
Google Fitbit, Peloton announce fitness content partnership
Google's (GOOGL.O), opens new tab Fitbit has partnered with Peloton Interactive (PTON.O), opens new tab to give its premium users access to the exercise equipment maker's fitness content, starting early September, the companies said on Tuesday. As part of the deal, Fitbit premium members based in the U.S., UK, Canada and Australia would...
August 13, 2024
Federer’s On Brand Continues Surge, Challenging Sportswear Giants
On, the upstart sportswear company backed by Roger Federer, posted another strong quarter of sales, further solidifying its place as a threat to legacy brands. The Swiss brand founded in 2010 announced Q2 sales of $657 million on Tuesday, a 27.8% increase over last year, and saw a slight gross profit margin uptick to...
August 12, 2024
Hapana Raises $17 Million to Fuel Growth Across Fitness Markets
Hapana, a software-as-a-service (SaaS) platform used by fitness brands worldwide, has raised $17 million in a funding round led by Australian venture capital firms OIF Ventures and Bailador. The funding will support Hapana’s plans to expand its presence in the Asia-Pacific (APAC) region and the United States, as well as...
August 12, 2024
Giant Group revenue down 13% in half
Giant Group announced that its first-half revenues were NT$37.23 billion ($1.147 billion), a 12.6% decline from the same period last year. The company said that due to profit growth in China, its gross margin rate fore the period was 21.3% and net profit after tax was NT$1.67 billion, a decrease...
August 7, 2024
EXEC: Saucony and Merrell Gaining Traction, But Remain Down Sharply in Q2
Wolverine Worldwide became one of the few companies in the outdoor space to hike its full-year guidance in recent months after seeing second-quarter results come in better than expected due to the margin benefits from its transformation plan and traction gained by its Saucony and Merrell brands. In the quarter...
August 5, 2024
More layoffs at Rad Power Bikes as Seattle e-bike maker aims to ensure ‘brand’s longevity’
Seattle-based Rad Power Bikes made more cuts to its workforce in July, the latest in a wave of layoffs that have impacted the well-funded electric-bike startup. A spokesperson for the company declined to share how many positions were impacted and which departments were part of the reduction. TechCrunch first reported...
August 1, 2024
Hoka Continues to Expand Wholesale Reach, Plans Apparel Push in Future
Hoka continues to post blockbuster results for parent company Deckers Brands, with double-digit growth in both wholesale and DTC channels in the quarter ended March 31. Hoka’s revenue increased 30% to $545 million during the quarter. DTC revenue jumped 33%, while wholesale rose 28%. The Daily Outdoor
August 1, 2024
Bike product sales down almost 40% at Fox Factory in the first half
Fox Factory says "ongoing channel inventory recalibration and, to a lesser extent, lower-end consumer demand" contributed to a decline in sales of bicycle products in its fiscal first half and second quarter, announced Thursday. Fox said sales of its bike products in the half were down $87.9 million — or...