LVMH-backed PE firm L Catterton acquired a majority stake in HYROX, valuing the fitness race at ~$700m. In 2026, HYROX is projected to make $270m (2x sales in 2025) across 121 events in 34 countries. That includes 1.5 million participants paying $80 to $160 to compete (with another 1.4 million spectators paying $10 to $25 to watch). All while doing zero paid advertising.  HYROX was founded in 2017 by Christian Toetzke (athletic events entrepreneur) and Moritz Fürste (an Olympic gold-medal…