Industry News
WILTON, Conn. (BRAIN) — Cannondale announced a new global unified organizational structure that will eliminate regional general managers and, the company said, leverage Pon.Bike to enhance operations and growth.
DESDEN, Germany (BRAIN) — German e-commerce retailer Bike24 had third-quarter sales of 72.6 million euros ($73.8 million), up 12.9% from the same period last year.
CAPE TOWN, South Africa (BRAIN) — Protective gear brand Leatt Corporation reported an 18th consecutive quarter of growth with third-quarter revenue increasing 5% year-over-year.
(BRAIN) — TheInformation.com, a tech trade title, is reporting that Sequoia Capital's China wing has made a recent investment in the e-bike brand Aventon. The investment would value the company at $590 million, according to the report, which cites two anonymous sources.
NEW YORK (BRAIN) — The City Council will discuss five proposed legislative bills about lithium-ion battery fire safety next week in response to the outbreak of incidents this year.
NEW YORK (BRAIN) — COVID-19, massive consumer demand, and the war in Ukraine have upset the industry's supply chain in recent years. Rough seas also played a part.
CHICAGO (BRAIN) — SRAM informed dealers that it's allowing a temporary deviation from retail pricing guidelines in the U.S. market on just under 200 SKUs. The promotion goes through Dec. 31.
NEW YORK (BRAIN) — The New York Fire Department said lithium ion batteries on e-mobility devices caused an apartment building fire on Saturday that injured 38 people.
WESTPORT, Conn. (BRAIN) — Compass Diversified, which owns BOA, Lizard Skins and PrimaLoft among other brands, recorded sales of $598 million in its most recent quarter, up 22% from the same period last year.
NEW YORK (BRAIN) — Vista Outdoor’s Action Sports group of brands, which includes its bike-related brands, saw sales of $151 million in the company’s most recent quarter, up 44% from the same period last year.
GREENVILLE, S.C. (BRAIN) — Boyd Cycling suffered a data breach Tuesday with the wheelset manufacturer locked out of its Instagram page and losing control of its advertising account.
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.
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