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.
September 23, 2021
Why aren’t more big bike firms tracking their environmental impact?
Trek, one of the world’s biggest bicycle brands, recently released its sustainability report for 2021. Remarkably, this appears to be the first time a major bike company has published such a document. While some other manufacturers make broad sustainability pledges or tout their success in reducing packaging waste, Trek’s report...
September 21, 2021
How Nike Became the Most Marketable Athletic Brand, According to SportsPro
The Swoosh earned the top spot for the second year in a row, beating out Adidas and Emirates, which placed second and third, respectively. For this year’s ranking, the company analyzed postings from more than 30,000 organizations and athletes for the period of August 15, 2020 to August 15, 2021....
September 21, 2021
Rowing start-up Hydrow scores fresh financing from Lizzo, Justin Timberlake, as at-home fitness competition heats up
Hydrow, the maker of a connected rowing machine, said Tuesday it has secured nearly $200 million in financing after its latest funding round with celebrity backers including Lizzo and Justin Timberlake. Founder and Chief Executive Bruce Smith said a portion of the funding will be used to make sure it...
September 20, 2021
Peloton Expanding Into Hotels, Health Clubs
The fitness leader is leveraging April’s $420 million acquisition of Precor — which supplies workout machines to hotels, health clubs, and universities — to get hotel guests and others to sample its offerings. FOS
September 16, 2021
Court of Arbitration for Sport (CAS) releases official report on Salazar ban
While the report seemed to cast some doubt on the appropriateness of the bans, while still upholding them, CAS ruled that Salazar had committed three anti-doping rule violations, including possession of testosterone, complicity in Brown’s administration of a prohibited method and tampering with the doping control process with respect to the...
September 16, 2021
Don’t look back, Peloton—Apple might be gaining on you
Apple’s Fitness+ is taking on a decided Peloton vibe. But rather than readying itself to make its own exercise equipment, Apple is after something bigger. Fast Company
September 15, 2021
On Running Shoemaker’s IPO Beats Target to Raise $746 Million
The maker of On Running performance shoes priced its U.S. initial public offering above a marketed range to raise $746 million. On Holding AG and some of its investors sold 31.1 million shares for $24 each on Tuesday, according to a statement confirming an earlier report by Bloomberg News. The company had...
September 14, 2021
Fitbit, Apple fitness tracker data exposed on unprotected database
A database that was not password protected exposed more than 61 million records containing data from fitness trackers and wearables, according to a breach report by WebsitePlanet and security researcher Jeremiah Fowler. His team found many of the exposed records contained information like first and last name, display name, birthdate, weight, height, gender and geolocation...
September 13, 2021
Nike downgraded by BTIG amid continuing COVID-related supply chain disruptions
As a result of worsening supply chain disruption in Vietnam, BTIG has downgraded Nike’s rating from Buy to Neutral. Over the past few months, COVID-19 cases in Vietnam have continued to rise, with its fully vaccinated rate only between 4% and 5%. In response, Vietnamese government officials have responded by closing down manufacturing...
September 8, 2021
Goldmeiers plead guilty to PPE hoarding and price gouging
Bike industry veterans and former owners of Ross Bicycles, Steven and Allen Goldmeier, agreed to pay $1 million in restitution to the State of Oklahoma for hoarding surgical masks and selling them at "exorbitant" prices to the state. BRAIN