Industry News

OBErWANGEN, Switzerland (BRAIN) — E-bike brand myStromer AG said it achieved "sustainable" growth last year of more than 10%. The privately held company did not release financial details. 

Tagged Electric bike / Earnings/Financial Reports
Brad Holmes photo courtesy of Grinduro.

(BRAIN) — Gravel event series Grinduro is offering free event entries to members of the bike industry who have been recently laid off.

Tagged Consumer Expos and Rides

NEW YORK (BRAIN) Vista Outdoor Inc.'s board has rejected an unsolicited acquisition offer made last month by MNC Capital. The offer was to buy the company for $35 per share, a 17% premium over Vista Outdoor's current stock price, worth about $2.9 billion.

TAIPEI, Taiwan (BRAIN) — Taipei Cycle show begins Wednesday with 950 exhibitors — 100 more than last year when the island reopened to unrestricted international travel — spread over 3,500 booths.

Tagged Taipei Cycle Show
The Cycle Force logo.

AMES, Iowa (BRAIN) — Messingschlager USA told customers on Friday that HLC is taking over distribution for its brands in the U.S.

Revenue in Lifetime's event business — including the Sea Otter Classic, Unbound Gravel and Leadville 100 events — was up 18%.

CHANHASSEN, Minn. (BRAIN) — Life Time Group Holdings, the fitness center company that also owns some bike events including the Sea Otter Classic, Unbound Gravel and Leadville 100 races, reported 2023 full-year revenues were up 21.6% from the prior year, to $2.2 billion.

Tagged Earnings/Financial Reports
Charging technologies participating are, from left, Swobbee, Swiftmile, and Popwheels.

NEW YORK (BRAIN) — The first of five public outdoor lithium-ion battery charging stations opened Thursday, part of a six-month pilot program aimed to prevent residential battery fires.

Tagged Electric bike

FRANKFURT (BRAIN) — Eurobike organizer fairnamic GmbH has set the date for next year's show: Eurobike 2025 will be held June 25-29.

Tagged Tradeshows and conferences / Eurobike
Swrve co-founders Muriel Bartol and Matt Rolletta.

LOS ANGELES (BRAIN) — Cycling and outdoor apparel brand swrve plans to close after 20 years in business, citing escalating operating costs. While no more orders will be placed, swrve will continue operations to sell off inventory in the coming months.

AMSTERDAM (BRAIN) — VanMoof is providing access to repair manuals, guides, and technical drawings for e-bikes released in 2018 and earlier, materials that were previously accessible only to certified shops.

Tagged Electric bike
Decline was steeper in Fox's bike-related businesses.

(BRAIN) — Fox Factory revenues in its Speciality Sports Group, which includes its bike-related brands, were down 43% in the company’s 2023 fiscal year, a decline the company attributed to “channel inventory recalibration” and “lower end consumer demand.”

Tagged Earnings/Financial Reports
Charlie Cunningham

MARIN, Calif. (BRAIN) — Mountain Bike Hall of Famers Charlie Cunningham and Jacquie Phelan are selling Cunningham’s customized and refurbished Phil Wood & Co. spoke threading machine to support his ongoing care following a bike accident almost nine years ago.

PHILADELPHIA (BRAIN) — A settlement was reached Friday in State Farm Insurance Company's civil action lawsuit against Rad Power Bikes on behalf of an insured homeowner client who suffered property damage after his e-bike caught fire.

Tagged Lawsuits/legal / Electric bike
Led by Fitness products, Q4 revenue increases 13% year-over-year.

OLATHE, Kan. (BRAIN) — Garmin Ltd. posted record revenue for 2023, while fourth-quarter revenue increased 13% year-over-year boosted by the Fitness segment.

Tagged Earnings/Financial Reports
GT Managing Director Jason Schiers.

ALISO VIEJO, Calif. (BRAIN) — GT Bicycles is amid a transformation back to its IBD and off-road roots, the company says, and longtime industry pro Jason Schiers has had a lot to say about it.

Tagged Electric bike

UTRECHT, Netherlands (BRAIN) — The Dutch Food and Consumer Product Safety Authority told the Accell Group cargo brand Babboe to stop selling its bikes for not investigating a series of reported broken frames as required by law.

Tagged Electric bike

NEWARK, N.J. (BRAIN) — Samuel Mancini, who pleaded guilty nearly two years ago to securities fraud in connection to a failed plan to buy up several legacy Italian cycling brands, is now asking the court to schedule his sentencing hearing.

WASHINGTON (BRAIN) — A public comment period ends next Wednesday, Feb. 21, for industry members and others who want to tell the U.S. Trade Representative's Office how they feel about extending an exclusion from a 25% tariff on Chinese-made bicycle products.

Tagged Tariffs / Electric bike
Tim Rutledge at the Sea Otter Classic. Photo courtesy of Gork Barrette.

KENT, Wash. (BRAIN) — Tim Rutledge, a longtime industry product manager and legendary cyclocross and road racer, died Monday after a battle with cancer. Friends and family confirmed his passing to BRAIN on Tuesday. He was 65. 

Company says North American bicycle interest remains ‘firm.’

TOKYO (BRAIN) — Shimano announced full-year 2023 sales in its bicycle division of 364,679 million yen ($2.42 billion) on Tuesday, a 29.5% decrease from the year before. Operating income in the division was down 55%, to 65,251 million yen. 

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