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.
December 21, 2021
Orbea licenses part of its shock integration technology to Canyon
Canyon will partially license Orbea's patented rear-shock lockout cable routing technology. Orbea's patent for the "Inside Line" covers improvements to the lockout routing, enhancing aesthetics and providing a more direct path between the shock and remote lever. BRAIN
December 20, 2021
Cyclist and Cycling Electric acquired by London publisher Metropolis
Cyclist and sister title Cycling Electric have been acquired by London Publishing House Metropolis, which has also secured the assets of Fortean Times and VIZ from a holding group. Metropolis is largely a B2B publisher, hosting titles such as MotorTrader, New Civil Engineer, Property Week, Drapers and Money Marketing, among many others....
December 17, 2021
The former Nike Oregon Project changes team name to Union Athletic Club
One of the world’s best-known professional running clubs has found a new name after the Nike Oregon Project was abolished, coincident with the four-year ban of ex-head coach Alberto Salazar. The new name, Union Athletic Club, was announced on the Elevation Om YouTube page and confirmed by Chris Chavez on...
December 15, 2021
CriticalPoint Capital Completes Sale Of JackRabbit To Fleet Feet
Affiliates of CriticalPoint Capital, LLC announced the closing of the sale of JackRabbit to Fleet Feet. Headquartered in Denver, CO, JackRabbit is the second-largest running specialty retailer in the U.S. and is the largest franchisor of locally-owned and operated running stores. SGB Media
December 15, 2021
Corporate Well-Being Platform Gympass Acquires Trainiac
Trainiac, a one-on-on fitness platform, is now Trainiac by Gympass. The latter announced its acquisition of the one-on-one fitness platform on Wednesday. The news comes after Gympass’ $220 million funding round in June valuing the company at $2.2 billion. At the time, Gympass said it had more than 750,000 training sessions booked for more than 50,000...
December 15, 2021
Apple, Amazon Vie for Piece of Growing Wearable Tech Market
The fitness wearables market is poised for huge growth over the next seven years — and companies and investors are taking notice. Separate reports from Grand View Research and Fortune Business Insights placed the fitness wearable market at $34.6 billion and $36.3 billion, respectively. Fortune predicted compound annual growth of...
December 15, 2021
Shimano gets fake clearance website taken down
Shimano says it successfully petitioned the Internet Corporation for Assigned Names and Numbers to have an e-commerce website taken down because it was posing as a Shimano company site. Shimano warned the public about the site in October. Bicycle Retailer
December 14, 2021
Nike Evaluating $1B in Media Spending
Nike is reportedly conducting a full review of its media accounts, inviting a host of major ad and media agencies to compete for their portion of around $1 billion. The process, which Nike hasn’t conducted at this scale in more than 10 years, is only just beginning and is expected...
December 13, 2021
Report: To Sustain the Cycling Boom, U.S. Must Build Up American Bike Manufacturing
America’s Covid-induced cycling boom is being stifled by massive over-reliance on overseas bike manufacturers — and the nation needs to follow Europe’s example and re-shore this essential industry to achieve social and environmental impacts far beyond the shelves of local bike shops, a new report argues. Streetsblog USA
December 10, 2021
Lululemon Revenue Up Despite Mirror’s Struggles
Lululemon reported third-quarter earnings Thursday, posting a 30% year-over-year net revenue increase to $1.5 billion. Net income jumped from $143.6 million to $187.8 million. Revenue in North America rose 28%, and international revenue increased 40%. The athleisure company saw total sales increase 27%, opening 18 new stores during the quarter...