Industry News

PeopleForBikes says the industry needs 'clarity and relief' on the proposed new tariffs
Biden on Tuesday after signing a document related to the China tariffs. (Photo by Demetrius Freeman/The Washington Post via Getty Images)

WASHINGTON (BRAIN) — It's unclear if the Biden administration's proposed steep increases in tariffs on Chinese EVs will affect the bike industry.

Tagged Tariffs / Electric bike
Former CEO Scott Maguire to lead the brand's new innovation and technology division.

MORGAN HILL, Calif. (BRAIN) — Specialized has made another change at the top, naming former Pon.Bike and Canyon Bicycle chief Armin Landgraf its new CEO replacing Scott Maguire, who will lead the brand's new innovation and technology division.

DETROIT (BRAIN) — Light electric vehicle vertical integration partner Bloom added Cleveland-based LAND Energy as its e-moto battery supplier.

Tagged Electric bike

TAIPEI, Taiwan (BRAIN) — Giant Manufacturing says bike sales in China continue to be a bright spot, but inventory reductions in Europe and North America continue to dampen overall sales.

Tagged Earnings/Financial Reports

CAPE TOWN, South Africa (BRAIN) — Leatt Corporation's first-quarter revenues dropped 19% year-over-year as the cycling and motorcycle protective brand's dealers and distributors continue to deal with excessive inventory levels.

Tagged Earnings/Financial Reports

SAN MATEO, Calif. (BRAIN) — GoPro Inc. revenue declined 11% year-over-year, but founder and CEO Nicholas Woodman said the $155 million in sales exceeded its first-quarter target.

Tagged Earnings/Financial Reports
Larry Tetone.

BOULDER, Colo. (BRAIN) — For our May magazine edition, we asked our State of Retail panel members: What types of insurance do you carry, and have you increased coverage in the last 1 to 3 years?

Tagged From the Magazine
Camping reservations set an event record.
Photo courtesy of Sea Otter Classic.

MONTEREY, Calif. (BRAIN) — Let James Ayres, Haro Bike’s director of North American sales, put the spotlight on this season’s Sea Otter Classic: “It literally blew us away. It was borderline flabbergasting,” said Ayres in an interview.

Tagged Sea Otter Classic

DENVER (BRAIN) — The Colorado General Assembly has passed an expanded Right to Repair bill, but it's unclear if it will apply to e-bikes because motor vehicles are excluded.

Tagged Electric bike

OLATHE, Kan. (BRAIN) — Garmin Ltd. first-quarter revenues grew 20% year-over-year — with all segments achieving record numbers during that period — while operating income increased 51%.

Tagged Earnings/Financial Reports

WILTON, Conn. (BRAIN) — Cannondale has reduced its workforce by "less than 1%" during a company reorganization from a multi-regional to unified global structure, a company spokesperson told BRAIN.

ENVE General Manager Mike Stimola.

OGDEN, Utah (BRAIN) — ENVE Composites is returning to its roots as a Utah-owned and managed brand after several years as part of a global sports empire, the company’s general manager says.

OGDEN, Utah (BRAIN) — Amer Sports has sold ENVE Composites to PV3, a Utah-based private investment firm.

Tagged Mergers, Acquisitions & Investments

STOCKHOLM (BRAIN) — Buoyed by Sports & Cargo Carriers, Thule Group's first-quarter net sales increased 8.7% year-over-year.

Tagged Earnings/Financial Reports
UPDATES to show that office remains open despite layoffs.

BENTONVILLE, Ark. (VELO) — Rapha has let go 6 of the 8 staffers at its North American headquarters.

STOCKHOLM (BRAIN) — MIPS' first-quarter net sales decreased 6% year-over-year, and despite what the helmet technology company said was a return to more normal bike inventory levels, its Sport sub-category still declined 9%.

Tagged Earnings/Financial Reports

BOULDER, Colo. (BRAIN) — At least four former Stages Cycling executives have joined Giant Manufacturing as the power meter and smart bike brand has apparently stopped operations. Meanwhile Giant, which manufactures many Stages products in Taiwan, is suing Stages for about $14 million in unpaid invoices. 

EL PASO, Texas (BRAIN) — Osprey and Hydro Flask parent company Helen of Troy fourth-quarter net sales increased 1% year-over-year, while 2024 net sales declined 3.3%.

Tagged Earnings/Financial Reports

CAMBIAGO, Italy (BRAIN) — Colnago reported sales of 55.7 million euros ($59.6 million) in 2023. The privately held company's financial statements were approved at a shareholders' meeting on Tuesday.

Tagged Earnings/Financial Reports

OSAKA, Japan (BRAIN) — Shimano is reporting that its first quarter sales were 100,557 million yen ($650 million), down 20.2% from the same quarter last year. In the company’s bicycle division, sales were down 22.6% to 76,090 million yen. Company-wide, ordinary income was up 0.9% from the first quarter of last year.

Tagged Earnings/Financial Reports

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