Glasses on the run Newsletter #30
Hi,
I hope you are all well in what is apparently the hottest summer on record. Here are some interesting stories from the business of running. I hope you enjoy!
What was interesting in the business of running
At a time when many running and sports brands are expanding into the lifestyle category, Brooks is doubling down on its focus on the core running market. It signed a sponsorship with Susanna Sullivan - a sixth grade math teacher who is heading into the World Championships at the end of this month and then the Olympic Trials in early 2024. Brooks also launched a docuseries, showing three runners as they prepare for their marathon, half marathon and 5K respectively. And it announced a partnership to support track & field high school teams across the US.
Another decidedly sports brand - Mizuno has launched its lowest impact running shoes so far - the 2023 Wave Neo Wind and Wave Neo Ultra, minimising production emissions. It also launched the Wave Sky 7 - the latest version of its daily, all-purpose, running shoe. At the same time, it also announced very strong Q1 results, driven by 46% growth in footwear sales.
Garmin also had a really strong quarter, driven mainly by its fitness and auto units. Fitness, as part of which Garmin sells its range of running watches as well as other sports watches and wearables, grew 23%, while auto grew 77%. Apparently the Apple watches, including the Ultra - which was launched last year - have had no negative impact on Garmin's sales. As mentioned previously here, that is not surprising as Apple watches are still very much seen as lifestyle and more general health devices. Garmin also acquired JL Audio in a sign that it sees audio as a fundamental part of its portfolio - I imagine across its product range, including within the fitness unit.
Another acquisition, La Sportiva has acquired a majority stake in Meet Italia - an Italian manufacturer of mountain footwear.
And finally, two topics that have been covered continuously here:
- Adidas and the Yeezy shoes saga - here are some details about the donations Adidas is making from the windfall of the remaining pile of Yeezy shoes.
- And a new Strava feature - it now allows athletes to calculate their carbon savings.
Please share your feedback on what works well and what doesn't, any topics you would like covered here or any other comments you may have.
As always, thank you for reading,
Momchil
