DIGITAL FITNESS IS ON A RUN

Digital fitness is on a run, literally, as training at home becomes the new normal. Peloton’s Q4 earnings showed a 172% YoY jump in revenue, and its connected subscribers were up 113% YoY, Apple announced Fitness Plus, its new virtual fitness product, and Zwift, an indoor training app, reached unicorn status after a USD 450 million funding round.

business, technologyNicki Lange17 September 2020apple, amazon, zwift, peloton, tonal, mirror, fitbit, hydrow, l catterton, kkr, permira, venture capital, private equityComment

GYMSHARK PARTNERS WITH GENERAL ATLANTIC VALUING COMPANY AT OVER GBP 1 BILLION

Gymshark, the fitness community and apparel brand, has announced it will enter a strategic partnership with General Atlantic, a leading global growth equity firm, in its first-ever fundraise, valuing the business at over GBP 1 billion, benefiting from the latest trends in the fitness industry and among direct-to-consumer brands.

GOLDEN GOOSE ACQUIRED BY PERMIRA

Golden Goose, the Italian brand whose deliberately scruffy-looking trainers sell for as much as GBP 1,000, has been sold for just under Euro 1.3 billion from The Carlyle Group to Permira, the private equity firm that also owns Dr Martens and recently acquired Reformation. Permira will buy the business from the US buyout group, which acquired the firm for Euro 400 million just three years ago.