Industry News
SAN FRANCISCO (BRAIN) — Bikeshare company Lyft announced a restructuring plan that includes laying off about 1% of its workforce — affecting about 30 employees — and no longer operating standalone dockless bikes and scooters.
SACRAMENTO (BRAIN) — A California bill that will more specifically define what is (and is not) an electric bike is closer to becoming law.
RENTON, Wash. (BRAIN) — Alta Cycling Group, the parent of Redline, Diamondback and IZIP, has scaled back significantly as its private equity owners wait out the industry’s current period of discounting and high inventory.
DENVER, Colo. (BRAIN) — Spot Brand is suing Gates Corp. alleging the Denver-based belt-drive maker hasn’t been paying its licensing fees for the use of its patent for a frame feature allowing the installation of Gates’ seamless Carbon Drive systems.
WASHINGTON (BRAIN) — National Park Service superintendents will continue to have authority over e-bike usage on the lands they manage after an environmental assessment was completed as required by a judgment in a lawsuit.
BREA, Calif. (BRAIN) — E-bike manufacturer Aventon was the victim of a fake Facebook page and website, advertising discounted models of up to 70% off retail.
MEQUON, Wis. (BRAIN) — Hayes Performance Systems laid off an unspecified number of employees Thursday, the latest company in the industry to show the effects of a stagnant bike market.
BENTONVILLE, Ark. (BRAIN) — French cycling apparel brand Café du Cycliste opened a small office here in July with the eventual goal of growing its market share in North America.
SAN MATEO, Calif. (BRAIN) — GoPro Inc. will reduce its workforce by about 15% in an effort to reduce operating expenses by about $50 million from its projected current fiscal year amount of $320 million.
GIVISIEZ, Switzerland (BRAIN) — Scott's search for a new CEO has concluded with the appointment of two co-CEOs: longtime Scott executive Pascal Ducrot and Juwon Kim. Kim has been an interim CEO since the Scott board replaced longtime CEO and part-owner Beat Zaugg in March.
(BRAIN) — Tern is asking retailers to be on the lookout for 48 of its bikes and e-bikes that were stolen while in transport by rail from Los Angelas to a Tern warehouse in Illinois last month.
ROTORUA, New Zealand (BRAIN) — Anonymous industry members have invested NZ$2 million ($1.21 million) into the New Zealand-based fitment database startup Bike Matrix.
BOULDER, Colo. (BRAIN) — For our August magazine edition, we asked our State of Retail panel members: How are you approaching your 2025 ordering? What, if anything, is different this year?
SEATTLE (BRAIN) — Rad Power Bikes laid off an undisclosed number of employees in July, the fifth workforce reduction since 2022.
TAIPEI, Taiwan (BRAIN) — Giant Group announced that its first-half revenues were NT$37.23 billion ($1.147 billion), a 12.6% decline from the same period last year.
CAPE TOWN, South Africa (BRAIN) — Leatt Corporation second-quarter revenue was down 18% year-over-year, but CEO Sean Macdonald said the cycling and motorcycle protective brand sees signs of future growth.
SAN MATEO, Calif. (BRAIN) — GoPro Inc.'s second-quarter revenue declined 23% year-over-year with retail-channel sales down 17% during the same period.
ANOKA, Minn. (BRAIN) — Sales declined 13.6% and gross profit decreased 14.2% in the most recent quarter for Vista Outdoor's Revelyst business unit, which includes its bicycle-related brands. The company continues to negotiate with two potential buyers for its Kinetic Group ammunition business and for the entire business. And its board recently announced it's exploring "a full range of alternatives" for Revelyst.
Fox said sales of its bike products in the half were down $87.9 million — or 39.3% — from the same period last year.
CORONA, Calif. (BRAIN) — Troy Lee has bought Troy Lee Designs back from 2Ride Holding, which acquired the brand in 2022 from SBJ Capital.
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