Exercise/Fitness

6/29/2023 |  The Air Jordan Drop So Hot It Blew Up an Alleged $85 Million Ponzi Scheme (Bloomberg) Michael Malekzadeh’s Zadeh Kicks made millions of dollars taking big presale orders for coveted sneakers at low prices and scrambling to fill them. Then came the Air Jordan 11 Cool Grey.

6/23/2023 |  Lululemon Desperately Wants Out Of Struggling Connected Fitness Space (Front Office Sports)

Despite Lululemon’s recent financial prowess, one of its tech investments from 2020 has reportedly decreased nearly 10 times from its original value.

After purchasing at-home fitness equipment company Mirror for $500 million, Lululemon is now attempting to sell the asset at a $58 million valuation, according to the New York Post.

6/7/2023 |  Dick's Sporting Goods and Nike Show How Sports Change Lives (Morning Consult Sports) New spots star Sabrina Ionescu, Mike Trout and Carmelo Anthony.

6/2/2023 |  Lululemon Sales Up 24%, Beats Expectations With Strong Quarter (Front Office Sports)

Lululemon hit $2 billion in revenue in its fiscal first quarter, helping the Vancouver-based athleisure brand beat Wall Street expectations — and even its own lofty predictions.

Sales rose by 24% over the previous period, buoyed by a 79% spike in revenue in China. The brand will keep capitalizing on growth there, as the majority of the 30-35 new stores it plans to open will be located there. 

5/31/2023 |  Federal Judge Denies Adidas’ Bid to Recover $75 Million Paid To Ye (Front Office Sports)

The ongoing legal battle between Adidas and Ye has taken another turn.

A federal judge denied a request from the athletic apparel company to refreeze $75 million worth of funds it paid to Ye, formerly known as Kanye West. A months-long freeze on the money was lifted last week.

Adidas claimed the $75 million is at risk of never being recovered, citing reports that Ye may be headed for insolvency and therefore unable to pay the money back.