Industry News
Veteran running industry reporter Dave Kayser provides a monthly overview about trends, changes and news from both the consumer and trade side of the sport.
May, 2025
BUSINESS NEWS-MAY
By Dave Kayser
It looks like a rocky road ahead for footwear companies if the Spring 2025 U.S. Footwear Consumer Survey from AlixPartners and the Footwear Distributors and Retailers of America is any indication. The survey shows that 78% of respondents forwent a shoe purchase due to their high cost, up 12 percentage points from 2024. Consumers plan to spend less on athletic footwear and the survey also showed footwear is becoming a discretionary rather than necessary expense. Furthermore, brand loyalty will likely take a back seat to sales and discounts. The survey was completed before the entire U.S. tariff system was thrown into disarray leading one to believe a similar survey done now would have an even more dire outlook.
Nike has announced price increases for both footwear and apparel, as reported by Complex and many other news outlets. Although Nike said “the pricing adjustments are part of our seasonal planning,” it is clear higher tariffs were on the minds of every Nike executive making the pricing decisions. The increases will be strategic, with footwear priced between $100 and $150 seeing a bump of up to $5 and shoes above $150 showing increases up to $10. A large selection of merchandise will remain at current price levels, according to Nike. Children’s products will also be unaffected by the increases.
Nike intends to reinstitute sales on Amazon, per a report by USA Today, further evidence that Nike CEO Elliott Hill is re-engaging with retail customers and abandoning the company focus on direct to consumer sales. A Nike spokesperson told CNBC that the company wants to make their products available wherever and however consumers choose to shop.
2025 first quarter sales reports continued to be rosy for Brooks, On and Hoka, although the latter’s seemingly paltry 10% gain made investors quite jittery, driving down parent Deckers stock price 23% after their earnings report was released. Saucony appears to be putting their humdrum 2024 sales year behind them, as they posted a healthy 29.6% gain. The increase was led by a doubling of their Asia-Pacific business and double digit growth in North America. Parent Wolverine is bullish on Saucony sales, with Wolverine president and CEO Chris Hufnagel stating that “We anticipate 2025 will be the single biggest investment year in Saucony since we acquired the brand 13 years ago.”
Wolverine opened their newly renovated ‘Factory’ building in Rockland, Michigan that will house Saucony and Merrell employees. A YouTube video of the monochrome black and white 40,000 square foot space shows 224 individual workstations, dedicated product and marketing rooms, 31 meeting rooms and a cafe that the company hopes will “attract and retain top-tier talent.”
Led by demand for shoes in their Novablast line along with the dependable Gel-Cumulus and Gel-Nimbus, Asics North America reported strong gains in the run specialty sector. The region also saw a fifth consecutive quarter of growth in the wholesale channel and the Asics Corporation reported the performance running category notched a net sales increase of 11.5% in their first quarter.
Asics is partnering with Boston-based startup Neurun to launch RunConcierge, an AI powered platform designed to enhance the race day experience. The program includes interactive course previews for upcoming races, real time weather reports and smart search capabilities that will offer travel-related recommendations. Run Concierge will be integrated with the Asics-owned online registration company Race Roster and will also be featured on race event pages for select major events.
Mizuno is looking to strengthen their position in the running sphere by making a few leadership changes in their running division. Will Cutler, formerly a territory manager, has become the brand’s associate marketing manager. Nico Betancourt will become the new Chicago-based Midwestern territory manager and Hope Nixon will be a running brand specialist based in Cincinnati.
Strava has completed its acquisition of Runna, a United Kingdom running app. Runna has 150 employees based in London and their office will be the foundation for Strava’s first tech development office in the U.K. Strava also announced a new valuation of $2.2 billion, the first time it has disclosed their valuation since 2020, when the company’s estimated worth was $1.5 billion.
NICE Recovery cooling device
Although too large to carry during a run, the NICE Recovery handheld cooling device, designed by Porsche, could well be a useful training and recovery tool for runners. The 4.4 lb. device uses advanced electronic cooling to adjust a user’s body core temperature which can help boost endurance and head off fatigue. It runs for about two hours on a 60-90 minute charge and is encased in machined aluminum.
Outside has redesigned their quarterly 120 page print magazine that will provide readers with in-depth longform storytelling. The magazine will take on the look of a coffee table book with premium paper stock and include adventure stories, profiles and how-to guides. At the same time, Outside will continue to grow their digital, podcast and video platforms.
The Kings of Distance
Many thought he was a dedicated runner himself, but in a 2007 interview, he surprised many by saying “I’m useless at running.”
April, 2025
BUSINESS NEWS-APRIL
By Dave Kayser
TARIFF TROUBLES AND UNCOMMON CLOTHING
Like many other retailers, running specialty stores are taking a variety of approaches to minimize the effects of tariff increases. Footwear News (FN) reports the Naperville Running Company ordered “an extra couple of months of inventory” on key shoe models. Virginia’s Pacers Running thinks consumers can swallow some price increases but if prices were to rise 25%, they admit they would “have a hard time selling those shoes.” The most optimistic outlook comes from the Running Industry Association’s executive director Terry Schalow who told FN that he had spoken with representatives from various brands and all of them stated they would cover the cost increases in the short term, but if the situation persists, there could be problems with continuing that tactic.
New Balance opened their newly redesigned London flagship store shortly before the London Marathon. The store, which in the company’s words “represents the evolution of our retail vision” hosted a number of events around the race including a community run, cheer sign making, medal engraving and the use of the store’s recovery zone which has massage guns, hydration options and expert’s dispensing post-race recovery tactics.
Forbes’ 39th annual World Billionaires list includes New Balance owner Jim Davis and his family. Davis has an estimated net worth of $6.5 billion but is only the fifth richest resident of Massachusetts. Ahead of him are three members of the Johnson family who have a controlling interest in Fidelity Investments and Robert Kraft, the owner of the New England Patriots.
Drawing on the work of Japanese-American artist Isamu Noguchi, Brooklyn-based Bandit Running and Asics have collaborated on the making of a minimal but stylish nearly all-white iteration of the Asics Novablast. The shoe has a tag that hangs over the toe with Japanese lettering, a small tag on the back, again with Japanese characters and an insole covered with graphics playing on the Japanese flag. The $150 shoe, released shortly before the Boston Marathon, was a quick sell out like many other Bandit releases with the shoes quickly making their way to eBay where they were being offered at a substantial markup. Marathon Handbook, in their review of the shoe, speculated that Bandit could be an acquisition target for Asics to make the company appear more culturally plugged-in and eager to increase its cool factor.
After a rough 2024, Saucony shows signs of renewed vigor in China, where final quarter sales grew more than 40% from a year ago.
Oiselle is once again woman-owned after Margo Cramer, previously employed in health care and public sector roles, became the majority owner of the brand. The company’s partnership with Janji, a specialty apparel brand based in the Boston area, will continue. Oiselle experienced double digit revenue growth in 2024.
The Uncommon Runner, set to release its first ever collection of men’s and women’s high performance apparel, is uncommon for a number of reasons. The fabric used in their singlets, shorts, T shirts and hooded sweatshirts is sourced in Italy, where the many clothing mills, some in existence for centuries, are known for their meticulous attention to detail. The fabric is sent to Portugal, where sustainability, craftsmanship, tradition and fair labor standards are the norm. Finally, the finished goods are sent to the company’s headquarters in Columbus, Ohio, a thriving distribution hub within a 10-hour drive of 50% of the U.S. population. The collection will be released on May 18.
To celebrate the 50th anniversary of Bill Rodgers’ 1975 Boston Marathon victory the extended Rodgers family decided to recognize his achievement by formulating a variety of teas that would contribute to a runner’s health and well-being. “Boston Billy’s Blends,” the tea “that keeps you going strong mile after mile” comes in three varieties: Shoe Tie Chai (a nod to the stops Rodgers took to tie his shoes during the 1975 race), Hopkinton Herbal and Finish Line Refresher. The three blends can be purchased at billrodgersrunningcenter.com/s/shop.
Garmin, who developed the first running smartwatch in 2003, now plans to direct its own Garmin Marathon Series. The series will debut in Toledo OH and Tucson AZ this fall, with more events being planned for 2026. Each event will include a 5K, 10K, half marathon and full marathon along with a two-day expo showcasing Garmin products.
Polar has launched a subscription-based training feature designed to offer adaptive cardio workouts tailored to individual fitness levels and recovery status. The service uses heart rate data and other metrics from compatible Polar watches to build personalized four-week plans that can adapt to an individual’s needs based on their training load, recovery needs and sleep patterns. The program can be used by athletes in a variety of sports and will be first available in the European Union, Norway and the United Kingdom.
Kinesiology tape manufacturer KT has introduced its KT Soothe product line that assists in pain relief and promotes muscle recovery. The new lineup “harnesses the power of lavender and magnesium to provide holistic wellness and multipurpose pain management” by infusing their original KT tape with the two ingredients which purportedly increase local blood flow and support muscles and joints.
March, 2025
BUSINESS NEWS – MARCH
By Dave Kayser
SAUCONY GOES FOR NUMBER ONE; NIKE, ON AND HOKA STAY HOT
The loneliness of the long distance runner is a thing of the past, if Saucony’s new marketing campaign is any indication. ‘Run as One,’ meant to “bridge the gap between performance and lifestyle” will be the slogan of the company’s new global brand campaign, which kicked off with a 30 second video that shows what can happen when people, in the words of Saucony’s chief marketing officer Joy Allen-Altimare, “come together to run and achieve the extraordinary.” Creative director Gus Johnston added that Saucony now thinks of the sport as “about living and how we move through the world together” which is exemplified in the new video where runners are doing ordinary things such as going out for coffee. The new campaign came about after Saucony conducted studies that had runners saying they’re not only looking for a running experience with a run club and then going home, “but showing up and connecting with people.” Saucony will host a series of run club events around the world to help kick off the campaign. Johnston added that the new slogan has already unified Saucony staff by creating a synergy across its product, sales and distribution teams.
L.E.K. Consulting’s Brand Heat Index, based on some 5,000 consumer responses that measures how various brands have gained or declined in popularity, shows Nike remaining at the top of the Athletic Footwear category. Their lead, however, was by the slimmest of margins,with the long time leader attaining a score of 100 and On at 99. Hoka was right behind On at 97 and adidas ranked fifth with a score of 72, followed by New Balance at 64. Brooks was eighth with a 48 and Puma 10th at 40.
Brooks has agreed to settle litigation with Puma after that company accused Brooks of violating their patent and trademark rights on their Nitro line of shoes. In 2022, Puma alleged that Brooks used the word ‘Nitro’ in their advertising that violated Puma’s rights to the name. Brooks was also accused of infringing on a design patent on the foam molding technology used in the Nitro shoes. Last year, Puma again sued Brooks, this time alleging that Brooks’ Hyperion running shoes infringed on several Puma patents. Brooks denied the charges and then decided to turn the tables and sued Puma, claiming their shoes in no way infringed on Brooks patents. After undoubtedly making many lawyers happy, the cat fight ended when the combatants told a Federal Court they had settled their differences under confidential terms.
After doubling their staff size to more than 500 employees since 2014, Brooks has expanded their Seattle office space to accommodate the new hires. A five story building has been erected across the street from their present offices that has flexible work spaces, a fully equipped gym and locker room and 104 bike stalls.
On had another dynamic year of growth in 2024, reporting a 29.4% growth rate. Performance running led the way and the Swiss company fully expects similar results in 2025 by predicting a net sales growth rate of at least 27% and a continuing strong presence in the running market.On is also well positioned in the blossoming tariff wars. 90% of their shoes and 60% of their apparel was made in Vietnam and none of their running shoes were made in China last year, helping them avoid an expected trade confrontation between the U.S. and China. Similarly, they did not source any goods from Canada or Mexico in 2024, allowing them to not become entangled in the U.S. president’s bluster against his neighbors to the north and south.
After a successful launch of the Eliot Runner in 2023, Tracksmith is adding to their footwear line with the introduction of the carbon plated Eliot Racer (right). Similar in
appearance to the Eliot Runner with its understated clean lines, Tracksmith says the new shoe “performs like a super shoe without looking like one.”
Craft Sportswear is calling their new Kype Pro “Our Fastest Shoe Ever.” The 6.9 oz shoe has a perforated carbon plate, a midsole that has a wide crevice running from the heel to the forefoot and a new Xx-Foam with Pebax for added energy return. The outsole was developed by cycling tire company Vittoria and promises exceptional traction. The new shoe is priced at $300.
French running brand Satisfy is entering the super shoe fray with its summer 2025 release of TheRocker (below). The shoe is made to look like a lightweight hiker with its lugged Vibram outsole and brown upper but is, in fact, designed for both roads and trails. The 9.98 oz shoe has a proprietary PEBA-EVA foam midsole and a patented durable monomesh upper. The unique looking shoe is certain to raise some appreciative eyebrows and presumably will elevate Satisfy into the ever-enlarging ranks of super shoe purveyors.
RunSignup now claims a 50% market share in the U.S. endurance registration industry according to a company news release. They say a combination of new races, high retention rates, the departure of Enmotive from the marketplace along with a narrowing of focus by some vendors has led to their market share growth. RunSignup also expects to increase the use of AI-powered customer support tools to drive further market gains.
Senior Advisor and former MarathonFoto President Bruce Franke is retiring after being with the company for nearly 40 years. The company said that in 2024 they “gave back $3.7 million to its partner events, supporting sport growth and allowing for greater giving to events’ charitable partners.”
February, 2025
BUSINESS NEWS – FEBRUARY
By Dave Kayser
Back to the Moon; Patented Soon?
Nike is planning a new release of its famed 1972 Bill Bowerman-designed “Moon Shoe.” The original run of shoes, all handmade by Nike employee Geoff Hollister, were distributed to a select group of 1972 U.S. Olympic Marathon Trials qualifiers as a way to boost the visibility of the upstart Nike brand. The shoes were the first Nikes to have a waffle sole which left an imprint similar to those left by Apollo 11 astronauts on the moon in 1969. They gained notoriety when a pair were sold at a Sotheby’s auction in 2019 for $437,500. According to Complex, the new version of the shoe, designed by French fashion designer Jacquemus, will be released in the fall of 2025 and come in three color ways, including Alabaster, which replicates the yellowing of the originals brought on by oxidation. The shoe’s retail price is expected to be $180.
Revived Moon shoe artificially yellowed
The Nike Sport Research Lab Has been a busy place of late, judging by the news that Nike submitted 33 patent applications to the U.S. Patent Office on February 11. The application getting the most attention is for an “electronic fluid support control system” that would allow a user to actually control the fit and function of a shoe. Outside Run says the 133 page application is “exhaustive” and details the overall look of the shoe, where the systems might be placed, how they would be powered, the unusual outsole and x-ray views. Last year, Nike was granted a patent for a similar foot support system utilizing a compressor and solenoid valves to control gas pressure. The other 32 patent filings include designs for shoes, outsoles, socks and accessories. There was no word on whether anyone was present in the Patent Office to accept the applications.
The Oregonian reports that Phil Knight’s private foundation gave away more than $190 million in 2023 and has given away nearly $1 billion since it was formed in 1997. Numerous organizations in Oregon were supported in 2023, as was a poverty relief group in New York and the Obama Foundation.
Advertising agency T3 was able to wiggle its way into an Apple News feed with a glowing report on the new 247 Arc-1 Runner just released by sportswear label Represent 247. The story, titled “Move over Nike-Represent 247 Launches its First-Ever Performance Trainers” gives a glowing review of the new shoe, saying it has a sleek aesthetic, precision perforations for optimal airflow and superior shock absorption. The review went on to say the midsole is made of compression molded EVA(common in shoes from the 1990s), a TPU heel counter and a weight of 11.4 ounces, with a price of $230. The “innovative engineering” and “modern design” mentioned in the story were not elaborated on. Interestingly, the Wikipedia entry for T3 is prefaced by the statement “This article contains promotional content. Please help improve it by removing promotional language and inappropriate external links, and by adding encyclopedic text written from a neutral point of view.”
A shoe that does deserve a glowing review is the new Nike Pegasus Premium that features a full length Air Zoom unit set between layers of ZoomX and ReactX foam. Gear Patrol has one big problem with the shoe and that is its weight, saying the shoe is “a whopping 11.5 oz” which is “a whole lot of weight to bulk around.” They may have a point, as the Nike shoe line in Spring 1992 were commonly over 10 ounces. But the extra weight was no deterrent to the many who lusted after the new release and it was an immediate sellout when it came out earlier this month.
Nike Pegasus Premium enjoys hot sales
The Business of Fashion, an editorial partner of CNN Style, highlighted the increasingly popular trend of companies mixing their performance and lifestyle running gear into one pot. The writer of the piece opined that to be successful in today’s marketplace a company has to cover all aspects of the sport, from highlighting professional runners to engaging with running clubs, cozying up to running influencers, paying attention to the various segments of the running community, all the while maintaining authenticity.
On the subject of authenticity, Nike has formed a partnership with Kim Kardashian shapewear brand Skims. The move, according to a Nike press release “will disrupt the global fitness and activewear industry with best-in-class innovation in service of all women athletes.” Nike stock climbed 4% following the news but fell back a percentage point the next day. What would Steve Prefontaine have said on this latest move?
The retail tracking service Circanna reports that Brooks, who epitomize authenticity in the running sphere, have maintained their number one position in the performance running U.S. retail space for the third consecutive year. They also enjoyed a 19% increase in sales in the running specialty retail channel and grew 228% in China, the second largest running market in the world. The brand’s loyalty program, the Brooks Run Club, now has over one million members in North America. The program will expand to other countries during 2025.
After the explosive growth of Hoka in recent years, investors are becoming concerned that future growth will slow to ‘normal’ levels and have sent parent company Deckers’ stock price downward as a result. In the past month, their stock price has fallen from a high of $220 to $155 as of the middle of February. Still, Hoka’s third quarter sales rose 24%, giving hope to those who believe the stock will rebound.
The International Journal of Sport Nutrition and Exercise Metabolism reports on a study conducted by Nicholas Tiller and others that shows many exercise gels may not be living up to their billing. The study “revealed a systematic bias toward less energy and CHO[carbohydrates] in measured samples relative to the label-derived nutritional information.” Brands tested include Honey Stinger, Gu Energy, Spring Energy, and Precision Fuel. The study went on to say “These findings have performance, clinical and legal implications.”
The track suit worn by John Carlos during his famed raised fist human rights protest on the medal stand at the 1968 Mexico City Olympics was sold by Heritage Auctions this month. The jacket, with his competitor number still attached on the front, had a presale estimate of $50,000+ and sold for $ 500,200.
John Carlos jacket goes for half-a-mil plus.
A recent study conducted by the University of Notre Dame and reported in Canadian Running found that 15 of 22 commonly worn smartwatches and fitness trackers wristbands contained PFA levels significantly higher than those found in other consumer products. PFA’s, often referred to as ‘forever chemicals’ due to their failure to break down over time, have been linked to cancers, liver disease and immune disorders. Runners are at risk because sweating may increase the rate at which PFAs can be absorbed through the skin. Switching to a silicone band can alleviate any concerns on the risk of wearing a band thought to contain PFAs.
January, 2025
BUSINESS NEW – JANUARY
By Dave Kayser
RUNSIGNUP UP, REEBOK SINKS LOWER
vent registration service RunSignup enjoyed a prosperous 2024, reporting growth across all three of their businesses-RunSignup, TicketSignup and GiveSignup. RunSignup rang up $456 million in race registration fees spread over 9,742,508 registrations. Their market share reached 50% and further growth is expected in 2025.
Beer has been the alcoholic beverage of choice for post-race runs and races since who knows when, but with beer sales sliding and more craft beer companies closing than opening, Ragnar Relay has jumped on the hard liquor wagon. Beginning in April with events in Georgia and California and continuing through all 29 Ragnar Relay events, Yellowstone Bourbon will be the series’ Official Bourbon Partner. The agreement “makes them [Yellowstone] the perfect celebratory companion for runners” said Phillip La Haye, General Manager of Ragnar Relay in a prepared statement. Yellowstone has supported outdoor adventuring since its founding in 2011 and is one of the largest corporate sponsors of the National Parks Conservation Association.
Race Results Weekly editor David Monti announced that after 30+ years Race Results Weekly will transition into an editorial service focusing on in-depth event coverage, athlete feature stories and event and industry news. The weekly grind of compiling race results from around the world left Monti little time and energy to pursue many story ideas that fell by the roadside, certainly a loss for those interested in the sport. Monti now expects to produce over 100 stories annually which will be released in a timely and random manner rather than on a weekly schedule. The subscription price for the service will remain at $75 per year.
New Balance notched its fourth straight year of 20% increase in sales, with 2024 receipts tallying $7.8 billion. New Balance CEO Joe Preston foresees an additional 20% rise in 2025, with North America making up about 35% of the company’s total sales.
Reebok took another step towards total irrelevance in the U.S marketplace as the once-proud footwear powerhouse has been acquired by Galaxy Universal from Authentic Brands Group. Authentic purchased Reebok from adidas for $2.5 billion in 2021 with high hopes of resurrecting the brand, but found success in any form difficult to obtain. Per Retail Dive, who first reported the sale of the Reebok Design Group and the brand’s U.S operations to Galaxy, Reebok currently has a brick and mortar presence limited to outlets which Galaxy hopes to upgrade to some full price locations. Yet to be determined is whether Galaxy will resurrect Reebok footwear operations or continue to concentrate on apparel as Authentic did.
Thai footwear manufacturer VING has developed what they proclaim is the world’s first super sandal. Looking much like a beefed up flip flop with a carbon plate embedded in the midsole, both the midsole and upper strapping is made from a lightweight proprietary foam. Canadian Running reports Kenyan marathoner Barnabas Kiplimo won Thailand’s Khon Kaen Marathon in 2:18:55 wearing the sandals, giving them instant credibility and helping him improve his PR by eight minutes.
Prime Time Timing has been named USA Track and Field’s Official Timing Company for the USATF Indoor and Outdoor Championships. The partnership will run through the 2028 season.
Gary Corbitt, son of ultra-running legend Ted Corbitt reports that Gary Meltzer has indexed the first 60 issues of the Road Runners Club: New York Association newsletters. The newsletters, published by Ted Corbitt and dating from 1959 to 1974, contain many examples of distance race strategies that were developed by the first generation of NYRRC leadership and are now standard procedures in race management. The index and each issue of the quarterly newsletter can be found at https://tedcorbitt.com/rcc-ny-association-newsletters-1959-1974/.
With calls quickly surfacing to move the 2028 Los Angeles Olympics to another city in light of the wildfires laying large swaths of the sprawling metropolis to ash, Governor Gavin Newscom stated on NBC’s Today show that plans are already being formulated to rebuild the city and make it ready fo the Games.
An Olympic gold medal from the 1904 Olympic Games in St. Louis awarded to 110 meters high hurdler Fred Shule was recently sold at auction by Boston’s RR Auction Company. The rare medal saw active online bidding, with the pre-sale estimate of $150,000 quickly surpassed and ultimately reaching $545,371. At the same auction, a 2024 Paris Olympics bronze medal in wrestling was put on the block. It brought $34,769, proving that Boston Marathon finisher’s medals aren’t the only medals being quickly sold by their owners. Luckily, the medal hadn’t suffered any deterioration that has already affected over 100 other medals and has proven an embarrassment to the luxury French jeweler LVMH. The cause of the deterioration, especially prevalent on bronze medals, stems from a defective varnish applied to the surface of the medals.
December, 2024
BUSINESS NEWS – DECEMBER
By Dave Kayser
TRAIL RACES IN DANGER, TURKEY TROTS GOBBLE UP THE PAVEMENT
Runners for Public Lands, an advocacy nonprofit organization, asked race directors to send letters to the Congressional Appropriations Committee to provide funding for the U.S. Forest Service that would allow them to lift a hiring freeze that stretches to September 2025. The move would ease the thinning ranks of the agency which directly impacts many trail races held on Forest Service lands. Much like the National Park Service, the Forest Service has been affected by increased visitation and decreasing budgets that affect a myriad of objectives the agencies are expected to meet. Seasonal employees, who are most affected by a freeze, assist with keeping trails and campsites open and are oftentimes the point person for issuing special use permits that allow races to be held. Shortly before letters were due, 106 race directors had signed on to the effort.
RunSignup reports Thanksgiving Day race participation jumped 21% from 2023 to 1,109,909 participants in 936 races using the RunSignup platform. $3.6 million was raised for various charities and at least 70 inaugural turkey trots entered the market.
=PR=Run & Walk, with multiple locations in Virginia, was named the Best Running Store of 2024 at this year’s The Running Event in Austin, Texas. TRE is expanding their schedule to include the first Switchback Spring event in Nashville that showcases outdoor brands. The Running Event will move from Austin to San Antonio next year, where more commodious event space is available. This year’s event saw a 20% increase in attendance to 4,872 running geeks.
Racoon Media Group, organizers of the Boston Run Show, are planning their first International Running Expo, set to take place in Amsterdam on November 4 and 5, 2025. The event is expected to attract some 300 exhibitors and 6000 attendees. In a press release, Racoon Media CEO Mike Seaman says the event will bring together innovators, brands and leaders to drive the running industry forward along with being a place to shape the future of running.
Non-fungible tokens(NFTs) were a thing during the pandemic, with digital art and other virtual creations seeing astronomical prices. To cash in on the craze, Nike acquired digital product creator RTFKT(pronounced “artifact”) for an estimated $1 billion even though the company had a market valuation of only $33.3 million. Nike subsequently began selling blockchain compatible virtual shoe designs known as “CryptoKicks” and found some success in the venture. Not surprisingly, the NFT market shrunk as the pandemic waned, which led Nike to divest itself from RTFKT after releasing one final collection of virtual shoes this month.
Massachusetts-based Ashworth Awards is partnering with Scimitar Custom Sportswear to provide event directors a one-stop shopping experience for custom designed medals and awards, performance apparel, branded merchandise and promotional items. Both companies stress sustainability in producing their products. Ashworth, who has made the Boston Marathon medals for over 40 years, produce their products with 100% recycled materials and Scimitar offers 100% recycled recycled options. The latter makes over three million products annually.
An independent economic impact report conducted by the Economic and Public Policy Research Group at the University of Massachusetts Donahue Institute found the impact of the 2024 Boston Marathon to be $509 million. The total represents the Boston Athletic Association’s operational costs, spending by marathon participants and spectators and other secondary economic impacts. In comparison, the 2023 Chicago Marathon generated $547 million and the 2019 New York City Marathon saw a $427 million impact.
After closing down Saucony’s Boston-area headquarters in August 2023 and moving those operations to their headquarters campus in Michigan, Wolverine announced the opening of their new Innovation Hub in downtown Boston. The 11,000 square foot facility will house Wolverine’s design, product and merchandising teams. Wolverine is also renovating their Michigan offices for Saucony and Merrell to help attract talented employees.
Footwear News handed out their 2024 Achievement Awards and running-related companies figured prominently in the mix. New Balance was named Company of the Year for their impressive sales gains, its astute sports marketing, their strength in the running category and their increased retail investment that saw 72 new stores open this year. On was named Brand of the Year for their continuing string of record sales and adidas captured the Person of the Year in chief executive Bjorn Gulden who took over a company in disarray in 2023 and quickly led it back into profitability.
According to market research company Circana, running footwear sales were up 4% during the third quarter of 2024.
Boston-based Tracksmith, currently looking for a Chief Marketing Officer, is also searching for individuals “who want to redefine the world of running.” The company is asking individuals with grand ideas to describe what kind of job they want and what they would do the first three months on the job. (An opportunity like that almost puts RRM in second place in the “Best Places to Work” standings.)
Coopah, the official AI powered coaching app of the TCS London Marathon, has raised $1.9 million in a seed funding round backed by the race and two venture capital firms. Coopah was founded in 2022 by running enthusiasts Dan Strang and Peter Coopah to help runners stick to their running goals and has an annual membership fee of $80.. The new funding will be used to scale up their marketing efforts and improve the functionality of the app.
Taking Care of Business Fact: This month’s Valencia Marathon saw 5,200 of the 28,000 finishers dip under the 3:00 hour mark. In comparison, the 2024 Boston Marathon had 2,660 runners under 3 hours and New York had 2.187 under the three hour mark.
November, 2024
BUSINESS NEWS IS BACK!
By Dave Kayser
VALBY TRIES SOMETHING NEW, NIKE LOSES, HOKA GAINS
Runner’s World delved deeply into the New Balance signing of U.S. Olympian and University of Florida runner Parker Valby, likening the signing to a No. 1 draft pick in football or basketball. Valby, who is represented by her father, Kyle, made certain the deal, which he termed “historic,” was “unique and tailored to her goals” and is estimated by other agents to be worth close to $1 million annually. New Balance head coach Mark Coogan visited with Valby twice in Florida while negotiations were taking place, and the Valby family appreciated the small, boutique approach, similar to the methodology the then-small upstart Nike took when signing Michael Jordan. Valby previously had a NIL agreement with Nike, and many expected her to continue her association with the company after graduating. New Balance has planned a kickoff campaign with Valby that includes video and media spots and her image is expected to appear on billboards in several U.S. cities.
In an effort to close the racial and wealth gap in Boston, Boston Celtics stars Jaylen Brown and Jrue Holiday awarded Sidney Baptista and his PYNRS (pronounced pioneers) running apparel company $100,000 through their Boston XChange accelerator program. The grant will help grow Baptista’s fledgling business, which has been hindered by unsuccessful attempts at obtaining venture capital. Baptista, who hopes the grant will “take us to the next level.” is also partnering with Brooks to create footwear.
Saucony is continuing their relationship with Black Men Running with the launch of a limited edition TR2 road-to-trail shoe in BMR’s official deep cranberry and black colors. The $140 shoe will feature the BMR logo on the tongue, heel counter and sockliner. BMR’s mission is to encourage African American males to get out and run and promote a healthy lifestyle.
Brooks has signed a new multi-year agreement with runDisney that will see the company create Disney-themed running shoes featuring popular Disney characters.
Smartwool has teamed up with shoe manufacturer Altra to produce a head-to-toe running kit that includes a mix of apparel, socks and accessories and will also include footwear. Altra tweaked its popular Escalante model to include a Smartwool Merino wool blend knit upper that promises to improve thermal comfort by 3.5% over the standard Escalante model.
Nike’s attitude in dealing with their smaller competitors deluded them into thinking they could co-opt Lontex Corporation’s “Cool Compression” trademarked phrase without repercussions, but a United States District Court in Pennsylvania, where Lontex is headquartered, had different ideas. Lontex, which specializes in compression garments, took Nike to court for trademark infringement, won the case and was awarded compensatory and punitive damages, with the former being tripled to $426,000. The court also found Nike’s behavior during the years-long ordeal to be egregious, as their lawyers had threatened to “kill” Lontex’s business with costly and lengthy legal battles. The court responded to those tactics by awarding Lontex an additional $5 million to cover incurred legal fees.
In the eyes of BTIG financial analysts, Hoka sales levels were thought to be moderating. According to SGB Media, BTIG also noted that Hoka’s online search interest had flattened, their double digit growth had decelerated and there were signs of market share loss. The supposed bad news led BTIG to downgrade Hoka’s parent Deckers stock from ‘Buy’ to ‘Neutral.’ Shortly after BTIG’s move, Deckers released their second quarter earnings showing Hoka earned a record $571 million due to “exceptional demand” and had $2 billion in revenue over the past 12 months, their largest 12 month sales figure ever. Deckers stock went up 10% after the report was released and the company estimates their current fiscal year earnings will increase by 24%.
The International Olympic Committee has lost their three Japanese TOP Olympic sponsors-Toyota, Panasonic and Bridgestone-leaving the IOC without a Japanese sponsor. Toyota and Bridgestone have been sponsors since 2015 and 2014, respectively and Panasonic since 1987. The IOC is expected to shift their gaze to the Middle East and India for replacement sponsors. Toyota chairman Akio Toyoda was brutally direct in explaining why the company ended their relationship, saying “I’m not sure they (IOC) are truly focused on putting people first. For me, the Olympics should simply be about watching athletes from all walks of life with all types of challenges achieve their impossible.”