Sometimes it’s the headlines we don’t see that impact our industry the most. Here are a few recent easily missed headlines that just might be the most important news you need to know in sports and fitness from last month.
Top Fitness Headlines From Last Month
Apple recently unveiled Fitness+, the first fitness experience built for Apple Watch, arriving later this year. Apple Fitness+ intelligently incorporates metrics from Apple Watch for users to visualize right on their iPhone, iPad, or Apple TV, offering a first-of-its-kind personalized workout experience.
Everyone from beginners to committed exercisers can access studio-style workouts delivered by inspiring world-class trainers and underscored by motivating music from renowned artists, making it easier and more rewarding for customers to exercise, whenever and wherever they like.
Flywheel Sports Files for Chapter 7 Bankruptcy
Flywheel Sports, a boutique spinning chain and SoulCycle competitor, filed for Chapter 7 bankruptcy on Tuesday, September 15, according to court documents.
According to Business Insider, the company will now be permanently closing its 42 locations in California, Colorado, Florida, Georgia, Illinois, Massachusetts, New Jersey, New York, North Carolina, Pennsylvania, Washington state and Washington, DC.
The lawsuit was filed Wednesday by members of the newly formed Boutique Fitness Alliance — which represents about 100 group exercise studios in the city — and the New York Fitness Coalition, which comprises about 2,500 combined gyms and fitness studios throughout the state.
Last week, New York gyms that have complied with New York Gov. Andrew Cuomo’s coronavirus safety measures were allowed to reopen. But Mayor de Blasio stipulated that group classes were excluded from the reopening. He argues they have a higher risk of spreading the virus.
Boutique Fitness Alliance Founder Amanda Freeman and New York Fitness Coalition President and CEO Charlie Cassara say the mayor has no proof that group fitness classes spread coronavirus more than other gyms. Read more here.
Tonal — a startup sometimes referred to as the Peloton of at-home strength training — has raised a fresh $110 million of funding to boost its expansion in the crowded home fitness space. And before you ask: Its CEO isn’t worried about competition from Apple’s newly announced fitness service.
Tonal, whose product mounts to the wall like a flat screen television and uses “digital weights” where the resistance is personalized, announced Thursday new financing for marketing initiatives and scaling its supply chain and logistics to meet demand. With the new funding, the company has raised $200 million to date and said its current valuation is more than $500 million.
Investors in the round include L Catterton, a private equity firm which has backed a range of consumer startups, as well as the Amazon’s Alexa Fund and several athletes, including Stephen Curry of the Golden State Warriors. Read more here.