Industry News
CRESTON, N.C. (BRAIN) — There will be a 51st year of building bike and motorcycle frames for Steve Garn, but in the early days after the remnants of Hurricane Helene damaged his home and fabrication buildings here nearly a month ago, he had doubts.
STOCKHOLM (BRAIN) — MIPS' year-over-year net sales jumped 61% in the third quarter boosted by growth in the Sports category, which includes bike helmets. The company attributed the growth to inventory levels improving industry-wide.
LONDON (BRAIN) — Rapha Racing LTD’s total revenues totaled 110 million pounds ($139.7 million at January’s exchange rate) in the 12 months that ended Jan. 28, 2024, down 7% percent from the preceding 12-month period and down from 138 million pounds the year before that.
NEW YORK (BRAIN) — Peloton is expanding its third-party retail network further by offering the Peloton Bike+ at 300 U.S. Costco stores and online during the holiday season beginning Nov. 1.
STOCKHOLM (BRAIN) — Thule Group net sales in the third quarter increased 1.4% year-over-year, but its CEO said the North American market continues to lag "with cautious consumers and retailers."
SACRAMENTO (BRAIN) — Gov. Gavin Newsom signed several e-bike bills into law at the end of September, including one that specifically defines what the state considers to be an e-bike in an effort to address concerns about throttle-powered bikes.
KENNEWICK, Wash. (BRAIN) — Carbitex, which makes carbon fiber soles used in cycling shoes by Scott, Lake and other brands, has closed a new funding round for an undisclosed amount. Since 2016, Carbitex has closed on at least five Series A and Series B funding rounds totaling at least $15 million.
BOULDER, Colo. (BRAIN) — For our October magazine edition, we asked our State of Retail panel members: How’s profitability compared to last year, and how do you measure it? What tactics have been producing the largest and smallest results on your profitability in 2024?
NEVERS, France (BRAIN) — The LOOK Cycle Group has sold its Corima carbon wheel brand, which is being taken over by its co-founder, Pierre-Jean Martin. Look acquired a majority share in Corima in 2016.
ASHEVILLE, N.C. (BRAIN) — Nutrition marketplace company Fuel Goods and apparel manufacturer Pressio created the 828 Endurance Community relief effort for Western North Carolina outdoor and endurance businesses affected by Tropical Storm Helene.
ANOKA, Minn. (BRAIN) — Vista Outdoor has agreed to sell its Revelyst business unit — which includes its bike-related brands — to Strategic Value Partners for $1.125 billion.
HILDEBRAN, N.C. (BRAIN) — Residents affected by Hurricane Helene are only beginning to recover days after the storm left destruction from Florida to Virginia. Industry members are establishing ways to support recovery remotely.
BLACK MOUNTAIN, N.C. (BRAIN) — Industry suppliers, retailers and others in western North Carolina are dealing with the damage caused by the remnants of Hurricane Helene, which flooded many areas and left residents without utilities and with impassable roads.
LOUISVILLE, Colo. (BRAIN) — The Pro’s Closet — which started out of its founder’s VW bus, evolved into an eBay store, and became a used bike and component e-commerce giant — will close in October after 18 years.
SEATTLE (BRAIN) — Rad Power Bikes announced Wednesday that its bikes will be sold at 150 Best Buy stores and at BestBuy.com. The company also announced it has hired bike industry veteran George Lee.
SALT LAKE CITY (BRAIN) — Specialized opened a new North American distribution center and office here on Tuesday that's about double the size of the previous one.
BEVERLY, Mass. (BRAIN) — Bob Parlee, the founder of his namesake bike company, died at home on Tuesday in Essex, Massachusetts, surrounded by family after a four-year cancer battle. He was 70.
PHILADELPHIA (BRAIN) — Trek Bicycle has agreed to sell its BCycle share bike business to Bicycle Transit Systems, which operates share bike systems in several major cities, including Los Angeles, Philadelphia and Las Vegas. The acquisition is expected to be completed next month.
MAGSTADT, Germany (BRAIN) — Taiwan bike maker Merida Industry Co. Ltd. has acquired an additional 39% stake in Merida & Centurion Germany GmbH from its founder, Wolfgang Renner, for 17.3 million euros ($19.05 million). Merida already owned a 51% share in the distributor.
DENVER (BRAIN) — A U.S. bankruptcy judge has approved Giant Group's acquisition of Stages Cycling from Foundation Fitness for $20.1 million. The court approved a purchase agreement that had been opposed by some creditors and an inventor who is in a patent dispute with Stages.
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