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Why Fitness Brands Are Spending More Than $1 Billion on Running Apps
Asics is the latest to join the fitness app fad with its $85 million acquisition of Runkeeper.
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Alongside sneakers, gym shorts, and yoga pants, sportswear brands are adding one more must-have to their list of products: workout apps.
Unlike Nike Inc., which has been developing its own running and sports apps for years, rivals have taken to acquiring startups to stay relevant among gym rats who want to quantify their every step, jump, and calorie burned. The latest is Asics Corp., the Japanese apparel maker that said it acquired Runkeeper last week for $85 million.