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.
February 1, 2022
NYT reports Alberto Salazar’s lifetime Safe Sport ban is for sexual assault
In July 2021, former Nike Oregon Project head coach Alberto Salazar, who had been banned from coaching in 2019 for doping violations, received a permanent, lifetime coaching ban from the U.S. Center for SafeSport for sexual misconduct, and his attempt to appeal the decision was denied. It was previously understood...
January 31, 2022
Cowboy Raises $80m to Further Accelerate the Adoption of Cycling
This new capital injection, bringing the total raised by Cowboy to $120 million, follows the launch of the Cowboy 4 in May 2021 which garnered record sales, a successful expansion into the Nordics and the U.S., and the recent introduction of Cowboy Care — an industry first, all-inclusive, on-demand repair...
January 31, 2022
Peloton internal docs show it slashed 2022 sales goals for apparel unit after segment revenue more than doubled last year
Peloton has slashed 2022 sales projections for its apparel business, according to internal documents obtained by CNBC. Momentum in the unit, which is run by Chief Executive John Foley’s wife, seems to be fading heading into the next year, after apparel revenue more than doubled to over $100 million from 2020 to 2021. CNBC
January 28, 2022
In 2020, the Running Industry Promised Inclusivity. We Still Have Work to Do.
A big frustration in current social justice movement has been seeing how quickly people move on once a topic was no longer trending—as if posting a black square and hashtagging a run with #IRunWithMaud had solved racism. Statistics show that support for the Black Lives Matter movement among white Americans...
January 28, 2022
Canyon Bicycle Appoints CEO
Canyon Bicycle appointed former Nike executive Nicolas De Ros Wallace as its new CEO. De Ros Wallace is a veteran of international management, e-commerce and sales development for sports and fashion brands. SGB Media
January 27, 2022
Specialized to add consumer-direct sales on Feb. 1
Specialized Bicycle Components will begin direct online sales of bikes to U.S. consumers next week, adding a “Rider Direct” option for the purchase of non-electric bikes from its website. Bicycle Retailer
January 27, 2022
Belgian e-bike firm Cowboy raises $80 million in latest funding round
E-bike designer Cowboy has announced an $80 million Series C financing milestone. The new capital injection, bringing the total raised by Cowboy to $120 million, follows the launch of the Cowboy 4 in May 2021, an expansion into the Nordics and the US, and the recent introduction of Cowboy Care....
January 26, 2022
Peloton’s archrival – maker of NordicTrack bikes – faces crippling lawsuit
The maker of NordicTrack exercise bikes has been slapped with a $300 million lawsuit that threatens to force the company toward bankruptcy, The Post has learned. iFIT Health & Fitness – which scrapped plans to go public in October after archrival Peloton revealed pandemic-driven demand for exercise bikes was tanking...
January 26, 2022
Adidas Plans More Than 2,800 New Hires In 2022
Adidas said it plans to hire more than 2,800 employees in 2022, including more than 800 in its home country of Germany. Adidas said the majority of the new employees, more than 900 people, will be hired to work in Adidas retail stores. More than 500 positions will be filled in the...
January 25, 2022
MUST READ: Exploring Zwift’s Fitness Metaverse
A fitness company born out of gaming, Zwift is reimagining exercise, starting with indoor cycling. Having raised more than $600 million in funding, the billion-dollar company plans to launch its own smart bike and aspires to make virtual racing an Olympic sport as it continues to build an expansive virtual...