LOUISVILLE, Colo. (BRAIN) — After more than 13 years supplying apparel and footwear for runners, Pearl Izumi will exit the business and focus completely on its core cycling business, the company said. “This is a tough decision, but it’s time to recommit to our core,” said Mike O’Connor, president of Pearl Izumi.
O’Connor told BRAIN run accounted for “a very small percent of our business, maybe slightly above double digits, but not the most significant part of our business.”
O’Connor said about 3 percent of Pearl’s workforce would be laid off as a result. He said some positions in run would be eliminated and some would transfer to the bike side, and that Pearl Izumi is also creating new positions in innovation and R&D.
“It’s not easy to make a decision to exit the business, but we are really thankful to all the team members that have participated on the run side,” he said. “We honor their successes. But as hard as decisions are, we’re convinced that returning 100 percent focus to our heritage in ride is the right direction. We’ll do everything in our power to help employees who lose their jobs land …read more