1. CPSC Warns Against Chinese Electric Skateboards
The U.S. Consumer Product Safety Commission (CPSC) has issued a safety alert regarding Floatwheel electric skateboards, manufactured in China. These skateboards, similar in design to the previously recalled Onewheel by Future Motion, pose serious risks of sudden stops and nose-dives, leading to accidents and injuries. Floatwheel's manufacturer has not cooperated with CPSC's investigation. Consumers are strongly advised to stop using Floatwheel models, including Floatwheel Advance and Floatwheel Advance Pro, to avoid potential harm.
2. Xponential Fitness Announces CEO Departure and Brand Divestment
Xponential Fitness, Inc. (NYSE: XPOF), a leader in boutique fitness franchising, is undergoing significant organizational changes. CEO Anthony Geisler has resigned, with Brenda Morris stepping in as interim CEO. In a strategic move, Xponential has also divested its Row House brand to Extraordinary Brands, aiming to streamline its portfolio and focus on high-growth potential brands. Despite these changes, the company reported a record membership of 796,000 in April.
3. Sportsoul and Decathlon Form Strategic Partnership
Chinese Company, Qingdao Sanbai Shuo Health Technology Co., Ltd. (Sportsoul) and French sports retail giant Decathlon have signed a strategic cooperation agreement in China. This partnership aims to drive innovation in the sports goods sector, focusing on high-quality, eco-friendly, and efficient products. Sportsoul has been a key supplier for Decathlon, providing a range of products such as trampolines, fitness equipment, and outdoor recreational gear. The collaboration marks a significant milestone, with both companies committed to promoting healthy lifestyles and environmental sustainability.
4. Geomix Faces Bankruptcy Again
Austrian online team sports retailer Geomix has filed for bankruptcy for the second time. Following a failed recovery attempt after its initial bankruptcy in early summer 2023, the company now faces insolvency, affecting approximately 200 creditors and 70 employees. Economic challenges in the sports goods trade, liquidity crises, and the impact of COVID-19 on inventory levels were cited as major factors. Geomix's operations in Germany and Berlin are also impacted by this bankruptcy.
5. 41st China Sport Show Successfully Held in Chengdu
The 41st China International Sporting Goods Expo (China Sport Show) took place from May 23 to 26, 2024, in Chengdu. Spanning 180,000 square meters, the expo featured over 1,550 exhibitors and attracted more than 100,000 visitors. The event set new records for exhibitor numbers, brands, and product categories, highlighting the rapid growth of China's sporting goods industry. Enhanced international participation included exhibitors from 64 countries, with over 5,000 overseas professionals attending. The expo also featured numerous forums, technical seminars, and business matchmaking activities, providing ample networking and collaboration opportunities.The next China Sport Show is scheduled for May 22-25, 2025, in Nanchang.
Author: Roger Yao (cs07@fitqs.com)
The founder of FITQS/FQC
The columnist of magzine <China Fitness Equipment>
20 years in fitness/sporting equipment OEM/ODM technical, quality control and sourcing management.
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