Glasses on the run Newsletter #40

Hi,

Starting 2024 with this late edition - Friday rather than the usual Monday, but sometimes life happens and kicks all plans and schedules to the curb...

I hope you have all had a good start of the year. And I hope you enjoy this short selection of stories.

What was interesting in the business of running

Apple stopped selling its Watch Series 9 and Watch Ultra 2 in the US after the US International Trade Commission (ITC) ruled that Apple infringed on patents for blood oxygen measuring technology by the medical device maker Masimo. Then Apple resumed the sales after appealing to a federal appeals court who temporary paused the ITC ban. Here is the full sequence of events by The Verge.

Asics sold the Swedish brand Haglöfs AB to the private equity firm LionRock Capital. Asics had previously acquired Haglöfs in 2010. The main reason for selling was Asics's top objective of becoming the No.1 Performance Running & Racing brand. So it's focusing on building a running ecosystem through divestitures and acquisitions among other means. Here is the coverage by SGB Media and here is the announcement from Asics.

Salomon owner - the Finnish sports company Amer Sports - is filing for an IPO on the New York Stock Exchange. In 2019 Amer Sports was acquired by the largest Chinese sports company Anta Sports and now expects to raise up to $1 billion from the IPO at a $10 billion valuation. Here is the coverage by the FT.

Nike trimmed its fiscal year revenue growth forecast to 1% down from the mid-single-digit percentage growth that was expected earlier. It has also announced a cost cutting initiative, aiming to achieve $2 billion of savings over the next three years. Article from Reuters.

It's the beginning of the year and it's time for annual reports. Strava released its 2023 Year In Sport Trend Report with interesting data on key trends, most used equipment and devices, generational differences. And here is DC Rainmaker on how Strava accidentally got some of that data wrong.

Garmin also released its 2023 annual fitness report. A random interesting stat from Garmin's report - esports activity grew 54% as compared to 2022.

And finally, eight running trend predictions from Runners World for 2024.

Thank you for reading,

Momchil