April 18, 2023
Despite growing macro headwinds, the industry managed to post 4% growth in 2022 on top of the prior year’s record-breaking 16% top line spike, according to the SFIA’s 2023 State of The Industry report.
The Chinese sportswear giant is selling a total of 119 million shares through a placing and subscription agreement for a net price of about HK$98.58 each to raise HK$11,731 million ($1,484 mm) that will be used to pay down existing debt and for general working capital.
PTON has agreed to pay a total of $13,950,000 in cash to settle an Apr., 2021 shareholder suit filed in Ea. NY federal court, after the company agreed to recall its treadmills due to the risk of injuring or killing children or pets.
Citing rising crime and retail theft in Portland’s Pearl District, the outdoor co-op will shutter its store there, according to multiple reports, when its lease expires in Feb. 2024.
The activewear brand hired four new executives who will report to Founder and CEO, Joe Kudla and support the rapidly expanding company’s continued growth.
The fishing gear, drinkware and lifestyle apparel brand is being auctioned off by Hilco Streambank, including intellectual property, social media accounts with more than 225,000 followers, 980,000 customer files, and about $1.6 million of inventory.
OIA is assembling industry leaders, policy makers and the local community in the nation’s capital from Apr. 18-19 to support legislation for the outdoor recreation economy, including trade, climate, access, and equity.
In the latest legal battle between Peloton and Mad Dogg Athletics, the USPTO’s Patent Trial and Appeal Board invalidated several claims in a pair of Mad Dogg’s exercise bike patents.