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 13, 2022
Report: Trek to buy Spokes Etc. retail chain
Trek Bicycle is buying the Washington, D.C.-are retail chain Spokes, Etc., according to a local news report. Bicycle Retailer
January 12, 2022
Fitness Tech Company Myzone Hits $102M Valuation After BGF Investment
Myzone, the manufacturer of wearable fitness tracking technology, has secured a $17.2 million investment from BGF, the UK’s growth capital investor, with tech entrepreneur Vin Murria OBE, who also joins as Non-Executive Chair. Designed to engage and motivate people to be more physically active, Myzone is used in worldwide health...
January 12, 2022
Adidas Sets Major Expansion For Downtown Los Angeles
Adidas has leased 107,000 square feet of office space in downtown Los Angeles marking a major expansion of its Los Angeles operation for marketing and sales and design according to a report in the Wall Street Journal. SGB Media
January 11, 2022
Industry Shocker – Shimano’s Wayne Stetina Moves To SRAM!
After 37 years, Wayne Stetina is leaving Shimano and taking a job with SRAM in Chicago as a “Senior Field Guide.” Wayne sees an opportunity to concentrate on making better parts for road and gravel riders to use, as well as visiting shops and working with SRAM’s sponsored teams. Road...
January 11, 2022
Suunto Sold To New Owners (Again)
Suunto announced yesterday that they’ve been sold away from the Amer Sports group, to Liesheng, a Chinese tech-focused brand that also owns/makes the Haylou brand (audio devices). However, I say ‘again’, because Suunto has long been part of the Amer Group (which includes brands like Salomon, ENVE, Atomic, Wilson and...
January 11, 2022
Nike, Lululemon, Macy’s and More Stores Cut Hours Amid Omicron Surge
A massive surge of COVID-19 cases is dealing retailers a new blow in terms of staffing shortages. Lululemon, Nike, Starbucks and Macy’s have all implemented new shortened hours in some locations in the last few weeks, as retailers struggle to keep stores staffed during the pandemic. Foot Wear 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...