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 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...
December 9, 2021
Nike Tries to Ban Imports of Adidas Knit Shoes, Accusing It of Copying Designs
Nike Inc. is asking a U.S. trade agency to block imports of a wide range of Adidas AG Primeknit shoes, saying they copy the Oregon company’s patented inventions for a knitted fabric that reduces waste without any loss in performance. The complaint, filed Wednesday at the International Trade Commission in...
December 8, 2021
ClassPass Data Shows Gyms Recovering, Livestream Workouts Falling
ClassPass released data on Wednesday revealing how the reopening of gyms and the changing nature of work is affecting the fitness industry. The company, which offers access to numerous gyms, fitness centers, and spas through a subscription program, found that gym reservations have surged on its platform at the expense...
December 7, 2021
Lack of spectators at Tokyo 2020 set to save organisers more than $1 billion
The total cost of staging the Games, which were postponed by a year due to the COVID-19 pandemic, was ¥150 billion (£1 billion/$1.3 billion/1.2 billion) less than budgeted as the lack of fans meant labour costs and other expenditure was not as big as expected, Japanese agency Kyodo News reported. Cost reductions...
December 7, 2021
Electric bike exports to UK from Taiwan surge 66%, U.S.A 69%
Electric bike exports data handed to CI.N from the Taiwan Bicycle Association revealed that from January to September the value of electric bike export trade into Europe from Taiwan came in at $520,562,109, up 28%, while the North American tally registered $304,430,109 in value, up 64.1%, driven primarily by a...
December 7, 2021
Strava Publishes 2021 ‘Year in Sport’ Annual Stats Extravaganza
Strava just published their annual year in review presentation, which outlines what all of us 95 million Strava users suffer through each week. Both athletically suffering through hard workouts and long adventures. But also occasionally suffering through what others post on their timelines. DC Rainmaker