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.
August 26, 2021
FloSports secures London Marathon streaming rights in North America, Australia
United States-based subscription streaming platform FloSports has secured the media rights to the Virgin Money London Marathon in North America and Australia, starting this year. The iconic international race – which is scheduled to be held on Sunday, October 3 – will be exclusively streamed on the FloTrack vertical in the United...
August 26, 2021
Chris Froome invests in Factor Bikes
Chris Froome has joined a consortium injecting capital into Factor Bikes and its parts and accessories subsidiary Black Inc, with plans for the four-time Tour de France winner to use his racing and product experience to help with product development and marketing. Cycling News
August 26, 2021
Athleta parent company Gap acquires Berkeley startup that allows customers to try on fits virtually
Ahead of its second quarter earnings call Thursday, Gap Inc. announced it has acquired e-commerce startup Drapr, a recent Y Combinator alum that has built technology that lets customers try on clothing virtually to ensure a better fit from home. SF Business Times
August 25, 2021
Dick’s Reports Huge Q2 Earnings
The retailer generated $3.27 billion in revenue in Q2 2021, a 20.7% increase compared to the same period a year prior. Dick’s surpassed Wall Street estimates of $2.85 billion in revenue. The quarter was driven by same-store sales, which increased 19.2% year-over-year. E-commerce sales decreased 28% compared to Q2 2020 following the...
August 23, 2021
On Running Files for IPO
On Monday, the Swiss running brand that counts Roger Federer as an investor and ambassador, filed for a $100 million initial public offering with the U.S. Securities and Exchange Commission. Yahoo! News
August 19, 2021
Bay Area retail powerhouse Mike’s Bikes sold to Pon Group, the owner of Santa Cruz and Cervelo
Mike's Bikes, the 12-store Northern California chain, has been purchased by Pon, the Dutch parent of Santa Cruz, Cervelo, Gazelle, Focus, Urban Arrow, and other bike, mobility, and auto brands. Pon also acquired Public Bikes, a city bike brand that Mike's bought in 2017. BRAIN
August 18, 2021
Lululemon Partners with Genomatica to Bring Bio-Nylon to Products
This represents lululemon’s first-ever equity investment in a sustainable materials company. The two companies will create a lower-impact, plant-based nylon to replace conventional nylon currently used to make lululemon products. SES lululemon athletica inc. (NASDAQ:LULU) today announced a multi-year collaboration with sustainable materials leader Genomatica to bring renewably-sourced, bio-based materials into lululemon’s products....
August 17, 2021
Nike Strips Alberto Salazar’s Name From Building After SafeSport Coaching Ban
After the U.S. Center for SafeSport revoked his coaching eligibility, Nike said it was appropriate to rename the facility. Women's Running
August 17, 2021
Music Remains A Priority For Fitness Companies
Equinox Media licensed the entire Universal Music Group catalog in January, but access to the world’s largest music wasn’t enough for the parent company of SoulCycle and Equinox. The fitness brand has partnered with Lorde, Calvin Harris, the Jonas Brothers, and the Supremes for a new series called “Equinox+ Features.” FOS
August 16, 2021
Retailer R&A Cycles institutes $150 shipping and handling charge on bikes
R&A Cycles, which operates brick-and-mortar stores in Brooklyn and Walnut Creek, California, as well as a well-known e-commerce business, has introduced a $150 charge on bikes sold at its stores, to cover shipping, handling, and assembly. Bicycle Retailer