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.
October 8, 2021
Asics Ventures Invests In Bisu
Asics Corp. announced that its investment subsidiary, Asics Ventures Corporation, has invested in Bisu, Inc., a startup developing “Bisu Body Coach,” a home health lab. Bisu Body Coach is currently in beta and will launch with a nutrition test, consisting of a disposable microfluidic test stick, a reader to use...
October 7, 2021
iFIT Delays IPO After Planning to Raise $646M
iFIT postponed its IPO on Thursday, citing adverse market conditions after planning to raise $646 million. iFIT joins Life Time Group Inc. as another fitness company recently impacted by market volatility. Life Time, which is backed by private equity firm TPG, decreased its IPO size to $702 million on Wednesday, down from $966...
October 5, 2021
Nike Announces Vaccine Mandate For All U.S. Office-Based Employees
Nike will now require office-based U.S. employees to be vaccinated against COVID-19. In a statement to FN on Tuesday, Nike said it would require all U.S. office-based employees to get the vaccine in order to support “the effort to bring people safely back to their workplaces.” Nike said it aims...
October 4, 2021
The Pro’s Closet To Merge With The Radavist
Colorado-based bike reseller The Pro’s Closet has merged with The Radavist, a cycling website based in Sante Fe. Founded by John Watson, The Radavist provides information and photographs about cycling and related outdoor activities. In May, the Pro's Closet announced it had raised an additional $40 million in Series B...
October 1, 2021
Sponsors investigating Black Cyclists Network over bullying allegations against founder
Following allegations of bullying and harassment by a member of the Black Cyclists Network, sponsors have taken action to distance themselves from the grassroots organisation while the claims are investigated. Cycling Weekly
September 28, 2021
Mike’s Bikes Partners With Giant Bicycle
Mike’s Bikes, the largest specialty bike retailer in the Western U.S., with 12 current retail locations and a national online presence, has signed with Giant Bicycles USA as a new full-line brand partner. SGB Media
September 27, 2021
NordicTrack-owner iFIT targets valuation of nearly $7 bln in U.S. IPO
IFIT Health & Fitness Inc, owner of the NordicTrack fitness brand, is looking to raise as much as $646.15 million through a U.S. initial public offering, valuing the company at $6.61 billion, according to a regulatory filing on Monday. Reuters
September 27, 2021
Specialized buys McLain Cycle & Fitness, other purchases rumored
After 44 years in business, Bob and Kris McLain have sold McLain Cycle & Fitness to Specialized Bicycle Components. Specialized has not confirmed the purchase and has declined to comment on this or other recent retail acquisitions. But industry sources tell BRAIN the company has purchased, or is close to...
September 23, 2021
Nike Misses Q1 Revenue Estimates, Shares Fall
Overall, the athletic giant on Thursday reported growth, with revenues for the quarter at $12.2 billion, up 16% year over year. However, this fell short of estimates of $12.46 billion in revenues from a survey of analysts. Net income was $1.9 billion, up 23% year over year, with diluted earnings per...
September 23, 2021
Colnago Becomes First Cycling Manufacturer To Adopt Digital Product Passport Powered By Blockchain
Beginning with the bike that will be raced by 2020 and 2021 Tour de France champion, Tadej Pogačar this coming Sunday at the 2021 UCI Road Racing World Championship in Belgium, Colnago will integrate blockchain technology into its new bicycles. As the first manufacturer to link its physical products to a virtual, distributed...