All Fitness articles – Page 6
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News briefsAltamont Capital Partners exits investment in Excel Fitness
After a six-year partnership with Excel Fitness, a Planet Fitness franchise group, California-based Altamont Capital Partners has exited its investment with the sale of the company Olympus Partners from Connecticut. As part of the transaction, which closed last month, Excel’s management team and founders worked with Altamont to establish a ...
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News briefsFitnessConnected show in Munich moves to ICM
The FitnessConnected show (planned for Nov. 28-30, 2022) is moving from Hall C1 of the Messe Munich exhibition center to the International Congress Center (ICM). This brings the show into the immediate vicinity of the Therapie München exhibition, which will remain in Hall B0 as initially planned. In addition to ...
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News briefsRYU appoints CFO
Vancouver-based sportswear brand RYU Apparel Inc. has hired Robert Lelovic as its new chief financial officer. Lelovic brings two decades of experience building publicly traded companies in various industries, from technology companies in Silicon Valley to the energy sector in Canada’s oil fields and Toronto’s financial district. During his time ...
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News briefs
Peloton appoints CFO
Peloton Interactive has appointed Liz Coddington as chief financial officer, effective June 13. She succeeds Jill Woodworth, who took the position on a transitional basis as a consultant and resigned earlier this year. Coddington has more than 20 years of finance experience, most recently as VP of finance at Amazon ...
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ArticleHummel reports record year, triples German business over last three years
Hummel, the nearly 100-year-old Danish company, has reported its best annual results ever. Net profit reached 115 million Danish Kroner (€16.6m) in 2021 as turnover increased by DKK 511 million to DKK 1.858 billion (€249.7m). Wholesale revenues, which grew by 30 percent, remain a priority of the company that also ...
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News briefsU.S. provider of “Gravity Sportswear” secures $6 million seed funding
Omorpho, a Portland, Oregon-based sports and fitness company that provides microweighted athletic apparel for fitness training, has closed a $6 million seed funding round at a $26 million valuation, bringing its total funding raised to $13 million. The investment was led by KB Partners, a venture capital firm focused on ...
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ArticleNautilus reports Q4 loss as retail re-orders drop
Nautilus recorded an operating loss of $21.9 million against an operating profit of $39.7 million in the fourth quarter as retail re-orders were depressed. Gross margin slid to 17.5 percent from 38.3 percent, a factor that the company blamed on higher product costs, logistics, increased discounting, and additional investments in ...
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News briefsPlanet Fitness expands into New Zealand
Planet Fitness, an American franchisor and fitness center operator based in Hampton, New Hampshire, signed a territory development agreement with Castle Point Fitness NZ Ltd. to expand the brand into New Zealand. Castle Point is a joint venture between the founder of The Fresnel Companies, a U.S. investment firm with ...
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News briefs
Technogym partners with artist Elena Salmistraro
Technogym has partnered with Elena Salmistraro, a Milan-based product designer and artist, on a unique version of the Technogym Bench. The creative interpretation of the brand’s product for home workouts was unveiled as part of the Technogym Design Conversation event on April 27. The Italian artist designed the special bench ...
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ArticleXponential Fitness signs multi-brand master franchise agreement for Mexico
Xponential Fitness, Inc., the world’s largest franchisor of boutique fitness brands headquartered in California, announced the signing of a master franchise agreement in Mexico for its StretchLab, Rumble and AKT brands. The agreement provides the master franchisee with the ability to license at least 60 studios of the three brands ...
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ArticleBeachbody with losses in Q1, but above forecasts
The Beachbody Company, a U.S.-based subscription health and wellness company, reported total revenue of $198.9 million for the first quarter ended March 31, down 12 percent from 2021 and down 6 percent from 2019. Digital revenue was $81.7 million, down 14 percent from 2021; digital subscriptions were 2.46 million, down ...
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ArticlePeloton Interactive working to get wheels aligned as losses mount
Peloton Interactive’s bumpy ride to a turnaround that includes generating positive free cash flow in financial year 2023 is underway, but many paths remain to be taken before any destination is reached. CEO Barry McCarthy, a former Netflix CFO, has been on the job for exactly three months, and he’s ...
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News briefsCasall hires new CMO
According to Sportfack, Casall, the Swedish fitness and yoga apparel brand, has seen a 21 percent increase in sales in 2020/2021. Now the company is continuing its growth and announced that it is heading for another record year, with key growth markets said to be Norway, Spain and the DACH ...
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News briefsWSJ Report: Peloton pursuing minority investor
Some two months after announcing massive business changes and days before reporting its first-quarter results on May 10, Peloton Interactive is reportedly looking for a suitor to a minority stake of 15 percent in the fitness company that is now headed by former Netflix and Spotify executive Barry McCarthy. The ...
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News briefsWahoo acquires RGT Cycling and launches Wahoo X subscription service
U.S. company Wahoo Fitness has added the virtual cycling platform RGT Cycling (now Wahoo RGT) to its ecosystem of training and community connection solutions. Wahoo RGT is a virtual cycling simulator platform using detailed virtual roads, to be cycled alone or with others. Routes can be picked either from a ...
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ArticleFIBO is back and the fitness industry is moving again
51,270 visitors attended the world’s largest fitness trade show, FIBO in Cologne, from April 7 to 10, according to the organizers. Internationally, the show was able to attract experts from 109 countries, including Italy, Spain, France, the U.K. and Poland, South Africa, Australia and Brazil, and from Israel and the ...
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News briefsNew Wave Group expects to beat Q1 market expectations
Sweden-based New Wave Group, which owns brands such as Craft and Cutter & Back and distributes several others, said in a press release that it is forecasting higher sales and earnings than the market expectations for the first quarter. On April 12, New Wave said its operating profit for the ...
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News briefsFIBO presents winners of the Innovation & Trend Awards 2022
Six categories, seven winners: for the first time, there was a tie in one category at the FIBO Innovation & Trend Awards 2022. The winners were announced during the European Health and Fitness Forum, which saw a high face-to-face attendance after two years of absence due to the pandemic. Here ...
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News briefsGymshark plans global restructuring in preparation for expansion
According to various media reports, Gymshark is restructuring its business, a move that most probably will lead to the loss of jobs globally. The brand is reportedly undergoing the restructuring process to improve cross-functional working, guarantee localized accountability, remove duplication and ensure efficiency in teams, processes and systems. As a ...
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News briefs
iFit formally withdraws initial public offering
iFit Health & Fitness, the U.S. connected fitness company, has formally withdrawn its registration statement for an initial public offering, a plan it suspended last fall, citing difficult market conditions. The company applied to the U.S. Securities and Exchange Commission (SEC) for a credit for registration fees paid. A month ...
