A month after breaking records as the most-funded fitness product in Kickstarter history, the KC-created OYO Nova Gym closed its crowdfunding campaign with $4.4 million in pre-sales.
Nike CEO John Donahoe announced in a company-wide email on Thursday that the brand will soon be "forced to make some difficult choices" that will "likely result in a net reduction of jobs."
Life Time Fitness CEO Bahram Akradi on Thursday said that the gym industry could see a “small degradation” as more people opt for at-home workouts, although gymgoers will still return to their clubs once Covid-19 restrictions are lifted.
Peloton keeps pedaling higher: Its shares were up 3.5% in Wednesday’s premarket.
An Austin-based wellness chain with offerings ranging from cryotherapy to infrared saunas has raised $8 million for U.S. and international expansion.
Summary
Amid the global pandemic, one silver lining may be consumers’ desire to refocus on health and wellness. For many people, that means lacing up some running shoes—good news for athletic brands, especially those that have pivoted easily to online sales.
Greg Glassman is selling CrossFit, following intense backlash over his response to the death of George Floyd and the anti-racism movement sweeping the country.
GNC has filed for bankruptcy, warning it will close up to a quarter of its stores and search for a buyer.
As people around the world continue to spend more time than usual at home, reports suggest that they have not stopped prioritizing their fitness. In a recent study from Global Web Index 85% of global consumers reported undertaking some form of exercise in recent months, with 51% relating that home workouts are their preferred form...
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