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 13, 2021
SoftBank Invests $400M In Vuori Activewear
The investment marks one of the largest ever in a private apparel company and allows the California-based company to expand its reach to markets outside the U.S. Vuori has thrived as an online retailer — its nine brick-and-mortar locations account for roughly 10% of total sales. With SoftBank’s investment, Vuori plans to...
October 13, 2021
Pear Sports Acquires Aaptiv
Pear Sports announced the acquisition of Aaptiv, the workout app. Aligned with the acquisition, Life Fitness has added to its equity investment in Pear and will distribute Aaptiv through its sales and marketing partnership. Aaptiv, with “13 million downloads and more than 36 million classes taken,” is expected to complement...
October 12, 2021
Mary Cain suing former coach Alberto Salazar, Nike
On Monday, The Oregonian reported that former Nike Oregon Project athlete, Mary Cain, has reportedly filed a $20 million lawsuit against Nike and her former coach, Alberto Salazar, over alleged abuse. Cain is accusing Salazar of publicly shaming her over her weight, leading her to depression, an eating disorder and self-harm....
October 11, 2021
Nike, Adidas Face Supply Chain Threats
The world’s biggest athletic shoe manufacturer — which works with Nike and adidas — is facing massive labor shortages in Vietnam related to the pandemic. Around 40,000 workers did not return to a Ho Chi Minh City facility owned by Taiwanese company Pou Chen Corp. when it reopened on Wednesday. The facility...
October 11, 2021
Dorel Sports bought by Pon Holdings in $810 million deal
Dorel Industries has offloaded its Dorel Sports division in an $810 million cash deal with Pon Holdings. Marking a coming together of two goliaths in the bike business, the joining of portfolios is yet to be detailed in full, but would more than likely merge the likes of Cannondale, GT,...
October 10, 2021
Marion Rousse appointed race director of Tour de France Femmes
Race organizers ASO confirmed Sunday that the French former rider and current television analyst Marion Rousse will head up the organization of next summer’s inaugural Tour de France Femmes avec Zwift. The women’s Tour de France will return July 24-31 after various previous incarnations of the race came to a...
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...