Industry News
OLATHE, Kan. (BRAIN) — Garmin Ltd. reported record revenue for the year and in the fourth quarter despite flat fitness sales that include cycling products.
EASTON, Pa. (BRAIN) — Roam Investment Group, led by former Allied Cycle Works COO Paul Jarrell, has acquired Speedsleev, the maker of minimalist saddle bags and handlebar bags.
SAN FRANCISCO (BRAIN) — John Porter, the former owner and president of The Merry Sales Co. died Friday at 94.
AMSTERDAM (BRAIN) — Peter Woods has stepped down as president and CEO of Dorel Sports, which last month was officially acquired by Pon Holdings.
STUTTGART (BRAIN) — Porsche announced Thursday plans to acquire a 20% stake in the German e-bike drive system manufacturer Fazua GmbH and also will partner with Pon Holdings' Ponooc Investment B.V.
STOCKHOLM (BRAIN) — MIPS' Sports category continued to drive sales, with bike and snow helmets helping the technology company increase fourth-quarter year-over-year net sales 41% and 67% for the year.
AUSTIN, Texas (BRAIN) — London-based private equity group Inflexion has signed a definitive agreement to acquire enviolo Inc., the maker of stepless gear drivetrain components used primarily on e-bikes.
SACRAMENTO (BRAIN) — The group of trail and forest advocates settled its federal lawsuit filed in 2019 against the U.S. Forest Service, whom it said allowed Class 1 e-bikes on non-motorized trails in the Tahoe National Forest without conducting a public study.
STOCKHOLM (BRAIN) — Thule Group's fourth-quarter net sales increased 15% year-over-year, with 2021 net sales rising 32.7%, despite rising costs for raw materials, freight prices, and COVID-19 employee absenteeism.
WASHINGTON (BRAIN) — Bike imports continued to skyrocket last year, as the industry brought in bikes with a customs value of $1.96 billion, a record that is 40% higher than in 2020.
NEW YORK (BRAIN) — Peloton Interactive on Tuesday announced that its revenues grew 6% in its recently completed second quarter, to $1.1 billion; the company recorded a net loss for the quarter of $439.4 million but could point to a 66% increase in Connected Fitness Subscriptions and a 26% increase in recorded worko
BOULDER, Colo. (BRAIN) — VeloNews has appointed Daniel Benson as its new editor-In-chief. Benson brings a background rich in cycling storytelling and over two decades of global media experience, the title said.
OSAKA, Japan (BRAIN) — In the year the company celebrated its 100th anniversary, Shimano Inc.’s sales and operating income hit an all-time record, driven primarily by its business in the bike industry.
Company-wide, Shimano's sales last year were up 44.6% over 2020, while operating income was up 79.3%.
WASHINGTON (BRAIN) — A bipartisan group of U.S. senators is asking the Biden administration to establish "a more comprehensive" process to exclude some products from the current Section 301 tariffs on the import of some products from China.
BOULDER, Colo. (BRAIN) — Retül is updating its bike fit service with a digital, markerless body measurement system that the company said is more accurate and repeatable than other measurement methods.
BREMERTON, Wash. (BRAIN) — In an industry of hard workers, Mike Kalmbach was among the most industrious.
ANOKA, Minn. (BRAIN) — Vista Outdoor — the parent of Bell, Giro, Blackburn, CamelBak, and now the QuietKat e-bike brand — is reporting record third-quarter sales and raised its full-year guidance.
SAN MATEO, Calif. (BRAIN) — GoPro Inc. reported fourth-quarter revenue increased 9% year-over-year, while its 2021 full-year revenue jumped 30%.
For the fourth quarter that ended Dec. 31, GoPro revenue was $391 million, compared with $358 million at the same time last year.
LOUISVILLE, Colo. (BRAIN) — The Pro's Closet has donated $43,300 in bikes and cash in support of victims of the Marshall Fire, which burned 6,026 acres and destroyed more than 900 structures in Superior and Louisville in December.
ASHEVILLE, N.C. (BRAIN) — A fraudulent website is offering products from Cane Creek Cycling Components, Wolf Tooth Components, and Whisky Parts Co. at discounted prices.
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