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Industry News
For the first time in several years, bike-related sales accounted for less than half of the company's revenues in 2018.
BRASELTON, Ga. (BRAIN) — Sales in Fox Factory's Specialty Sports Group — which comprises the company's bicycle brands: Fox and Marzocchi suspension, RaceFace and Easton Cycling — grew 14.9 percent last year, to $282 million, according to an earnings report Tuesday.
TWITTERVERSE (BRAIN) — According to tweets sent out from the account of President Donald Trump on Sunday, the U.S. will delay an increase in tariff rates on Chinese goods, initially set to happen on March 1.
Company expects Tacx acquisition to boost fitness sales in 2019.
OLATHE, Kan. (BRAIN) — Garmin Ltd. on Wednesday reported a 4 percent jump in fourth-quarter revenue, to $932 million, as the company's aviation, marine, outdoor and fitness businesses grew a collective 13 percent compared with a year earlier. Revenue for the full year rose 7 percent to $3.35 billion.
BENTONVILLE, Ark. (BRAIN) — This community, which already has hosted an IMBA World Summit, Outerbike and other bike events, will be home to the new Innovation Cycles Festival in mid-September. "Think of it as Ted Talks for the e-bike industry," said event organizer Nat Ross.
Company will transition exclusively dealer direct sales this year.
CHARLOTTE, N.C. (BRAIN) — Kask America began selling direct to U.S. and Canadian dealers on Jan. 1 and will continue sales through its existing distributors through early spring as it transitions to an exclusively dealer-direct model.
Company is relaunching with warehouses full of in-season products that were held back from the ASE bankruptcy liquidation sales.
PHILADELPHIA (BRAIN) — Advanced Sports Inc., the distribution arm of Advanced Sports Enterprises, is now ready to return to full-scale business, selling Fuji, Kestrel, Breezer, SE Bikes and its other brands to U.S. retailers.
Crowdsourcing campaign results in the new bike brand's name: ARĪV.
DETROIT (BRAIN) — General Motors is now accepting preorders in three European countries for its new e-bike line. The company also announced the results of its crowdfunding contest to give the bikes a brand name; the new name is ARĪV. The ARĪV line includes two models.
SCHAUMBURG, Ill. (BRAIN) — The Chicagoland Area Bicycle Dealers Association will continue to expand its reach far from the shores of Lake Michigan in the next 12 months.
CABDA's Midwest show closed Thursday and organizers announced two new venues for its next season.
BROOKLYN, N.Y. (BRAIN) — Industry associations continue to lobby against the 25 percent tariffs imposed on Chinese-made electric bikes and motors. But many suppliers and retailers say most premium brands typically sold at IBDs are not affected, since these bikes don’t come from China.
MIAMI (BRAIN) — Ben Joannou Jr., the co-CEO of distributor J&B Importers, died early Thursday after suffering cardiac arrest. He was 60.
BOULDER, Colo. (BRAIN) — Between VeloNews, Bicycle Retailer & Industry News and other media brands owned by Pocket Outdoor Media, April's Sea Otter Guide will reach the widest consumer and trade audience ever via print and online delivery.
CHINO, Calif. (BRAIN) — A GoFundMe campaign has been established to help with the medical expenses of InCycle Bicycles store manager Megan Rodriguez, who was run over by a pickup truck attempting to stop thieves from making off with a high-end bike this week.
BATH, England (BRAIN) — U.K.-based publisher Future plc. has announced plans to buy CyclingNews.com and Procycling magazine from Immediate Media Co.
SCHAFFHAUSEN, Switzerland (BRAIN) — Garmin Ltd. announced Tuesday that it has reached a deal to acquire Dutch indoor smart trainer company Tacx. The deal is expected to close during the second quarter of 2019. The terms of the deal will not be disclosed, Garmin stated.
OSAKA, Japan (BRAIN) — Shimano is reporting a similar scenario as the rest of the industry: sales of complete bikes in North America declined last year in units, but increased in dollars thanks to a shift to more expensive models, including e-bikes.
HELSINKI (BRAIN) — Amer Sports on Thursday reported a 10 percent increase in fourth-quarter sales, to 874.2 million euros ($992 million).
GATESHEAD, England — U.K. distributor Vielo Sports launched its own Vielo bike brand in January 2018, with a focus on delivering an all-road bike, the V+1, that could be ridden more comfortably in harsh U.K. conditions.
CHAPEL HILL, N.C. (BRAIN) — About 95 employees at ASE's facility here — the longtime headquarters for the company's Performance retail division — were laid off Wednesday as it became near certain that the chain's remaining stores will close for good by next month. The layoffs ended hopes that Performance, once the country's largest bike retail chain with 104 stores and nearly 1,700 employees, would continue to operate brick-and-mortar stores.
ANOKA, Minn. (BRAIN) — Vista Outdoor on Thursday reported a 20 percent drop in sales to $468 million for its fiscal third quarter, ended Dec. 30, due to declines in ammunition and firearms sales, hunting/shooting accessories and the company's actions sports and outdoor recreation businesses.
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