Industry News
INDIANAPOLIS (BRAIN) — Bell Sports has settled a product liability suit filed by an Indiana woman who said her Bell Universal pedal broke off while she was riding, causing a crash and injuries. The suit said the woman suffered damages totaling nearly $5 million.
TAIPEI, Taiwan (BRAIN) — Giant Group's net sales totaled NT$70.87 billion ($2.2 billion) through its first three fiscal quarters, a 14.4% increase over the same period last year.
DULUTH, Ga. (BRAIN) — Fox Factory's company-wide sales were up 17.8% in its most recent quarter compared to the same period last year, with sales in the company's bicycle-related Speciality Sports Group up 9.1% in the period to $174 million.
SAN MATEO, Calif. (BRAIN) — GoPro Inc. third-quarter revenue decreased 4% year-over-year but experienced subscription and service revenue growth for the quarter ending Sept. 30.
BOULDER, Colo. (BRAIN) — Bicycle Retailer & Industry News has added a free weekly email newsletter devoted to e-bike industry news.
(BRAIN) — Mobile bike repair franchiser Velofix closed an equity financing round led by Yamaha Motor Ventures, a corporate venture capital fund for mobility and other interests. Yamaha Motor Ventures is joined by existing shareholder MacKinnon, Bennett & Co., and new investor Economic Development Bank of Canada.
OKLAHOMA CITY (BRAIN) — Vittoria Industries announced Tuesday it will move its North American headquarters to Bentonville, Arkansas, in December. The new office space will be inside the Ledger, a new six-story downtown building with bike-friendly amenities.
LAS VEGAS (BRAIN) — Recon Power Bikes entered a global licensing agreement with GMC to release a new e-bike here today at the SEMA Show to complement the auto manufacturer's Hummer EV Supertruck.
ANOKA, Minn. (BRAIN) — Vista Outdoor, the parent of several bike industry brands, has announced CFO Sudhanshu Priyadarshi will leave the company in November. Separately, Keurig Dr. Pepper announced that it has hired Priyadarshi as its new CFO, effective Nov. 14.
MALLABIA, Spain (BRAIN) — Orbea, which said it has grown significantly in the last 7 years, is reorganizing its executive team to adjust. The reorganization includes the promotion of U.S. industry veteran Nick Howe from U.S. country manager to global sales manager.
ASHEVILLE, N.C. (BRAIN) — Kitzuma Cycling Logistics suspended its delivery service for the fall and winter and laid off most of its driver network in reaction to slowing demand for its door-to-door bike shipping business.
STOCKHOLM (BRAIN) — Thule Group net sales fell 23% year-over-year as global demand for bike products waned because of high inventory levels.
DENVER (BRAIN) — Organizers of The Big Gear Show and the new (e)revolution e-bike show plan to run them concurrently at the Colorado Convention Center here next June 8-11.
The first two editions of The Big Gear Show, which includes bike and outdoor exhibitors, have been held in Park City, Utah.
OLATHE, Kan. (BRAIN) — Garmin Ltd. revenue decreased 4% year-over-year, with the Fitness segment experiencing an 18% decline.
BRIGHTON, United Kingdom (BRAIN) — Startup aerodynamic drag force measurement system Body Rocket announced its recent raise attracted more than 190 UK and EU investors.
TREVISO, Italy (BRAIN) — Cicli Pinarello said its sales were up 24% in its most recent fiscal year, which closed June 30. The company had sales of 84 million euros ($83.6 million at today’s exchange rate) according to a press release.
CHICAGO (BRAIN) — Longtime SRAM marketing chief David Zimberoff will soon leave the company to focus on a transportation research project for World Bicycle Relief, a nonprofit launched by SRAM's co-founders in 2005 and supported by the company and others.
OSAKA, Japan (BRAIN) — Shimano said “strong interest” by consumers in bicycles shows signs of cooling down, but demand is still higher than it was prior to COVID-19.
IRVINE, Calif. (BRAIN) — The National Bicycle Dealers Association and consultant group Human Powered Solutions are asking retailers and suppliers to participate in a survey on e-bike lithium-ion battery incidents.
BOULDER, Colo. (BRAIN) — E-bike sales in the U.S. have grown 300% in the past five years. More and more retailers are saying, "E-bikes are our future." Despite the rosy glow around the category, there are concerns among the movement's leaders. So let's take a look at the five challenges that lie ahead.
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