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.
July 13, 2021
F45 Training Reveals More About IPO In Revised Filing
In a revised S-1 form filed with the Securities and Exchange Commission for its initial public offering (IPO), F45 Training, Austin, Texas, revealed that it expects to sell 20.3 million shares to the public at $15 to $17 per share. If all goes as planned, the company could be valued at $1.45...
July 12, 2021
Shimano to invest nearly $300M in Singapore and Japan factories
An Asian news source is reporting that Shimano plans to invest $179 million to build a new plant in Singapore that will open next year. According to the report Shimano also decided to invest another $118 million in its factories in Osaka and Yamaguchi, Japan, to expand production capacity. BRAIN
July 8, 2021
Michael Avenatti sentenced to 2.5 years in prison for attempting to extort Nike
A federal judge on Thursday sentenced celebrity lawyer turned criminal defendant Michael Avenatti to 30 months in prison for attempting to extort millions of dollars from Nike. Avenatti, who rose to fame as Stormy Daniels' lawyer, was convicted in February 2020 of three counts for threatening to publicly accuse the sportswear company...
July 8, 2021
Adidas auction of Reebok takes a hit as key bidder Authentic Brands drops out
A key bidder has dropped out of the auction for Reebok, making it more likely that German-based Adidas will take an even bigger hit on its disastrous, 15-year stint as the owner of the struggling sneaker brand, The Post has learned.
July 8, 2021
Asobi Ventures acquires majority stake in Cinelli and Columbus brands
Asobi Ventures has acquired a majority share in Gruppo Srl, the parent company of Italian bicycle manufacturer Cinelli and tube manufacturer Columbus. In partnership with Austin, TX-based Asobi Ventures, Cinelli and Columbus plan to expand their footprint with bike dealers globally while building on the foundations it has established in...
July 7, 2021
X2 Performance, a manufacturer of sports drinks and supplements, raised $16 million
Giants running back Saquon Barkley has joined Bucs linebacker Lavonte David and the NBA’s Kawhi Leonard as an investor in X2 Performance, the makers of non-carbonated energy drinks. Barkley’s investment comes as part of a $16 million Series D raise, led by previous investor L Catterton. The company started in...
July 5, 2021
What’s Next for Peloton After a Rocky, Record-Setting Year
Peloton has beaten earnings estimates every quarter of 2021 so far. However, product issues and a crowded market pose new threats. Front Office Sports
July 1, 2021
Ridepanda receives $3.75 million in financing from four investors
E-commerce company Ridepanda announced it received a combined $3.75 million in financing from investors to help meet demand for its electric vehicles, which include e-bikes. In addition to e-bikes, Ridepanda offers e-mopeds and e-scooters with financing, extended warranties, and customer services, including assembly at home or at a nearby shop. BRAIN
July 1, 2021
Adidas shortlists bidders in Reebok sale
Adidas has drawn up a shortlist of bidders for its Reebok brand as it seeks to draw a line under an ill-fated investment that never lived up to the German sporting goods company's expectations, sources close to the matter said. U.S. rival Wolverine, which has partnered with brand transformation specialist...
June 30, 2021
Mary Cain launches professional women’s running team
Mary Cain has announced the launch of her new professional women’s running team, Atalanta New York. Cain previously ran for Alberto Salazar and the Nike Oregon Project (NOP), and in 2019, four years after leaving the team, she opened up about the emotional and physical abuse she endured in her...