Industry News
SVETA NEDELJA, Croatia (BRAIN) — Porsche will acquire a majority interest in the Greyp e-bike brand. The sports car manufacturer's venture capital segment, Porsche Ventures, has held about a 10% stake in Greyp since 2018.
DENVER (PINKBIKE) — Guerilla Gravity is asking riders in the Denver area to keep an eye out for suspicious bikes after its headquarters was targeted by a break-in.
(VELONEWS) — John Karras, a former newspaper man who co-founded RAGBRAI, died Wednesday in Iowa. He was 91.
TAICHUNG, Taiwan (BRAIN) — Giant Group sales for the first three fiscal quarters of 2021 totaled NT$61.94 billion ($2.23 billion), an 18% increase over the period last year. Net income over the period grew 32/3% to NT$4.83 billion. Giant has set records for sales and profits in each quarter this year.
BOULDER, Colo. (BRAIN) — For our November magazine edition, we asked our State of Retail panel members: Does your shop sponsor a team or have an ambassador program? How effective is it?
CAPE TOWN, South Africa (BRAIN) — Leatt Corporation had its fifth consecutive quarter of record-breaking financial results, reporting a 94% increase in third-quarter revenue and 166% increase in net income year-over-year.
IWATA, Japan (BRAIN) — Yamaha Motor Co. and Hero Motors Limited will invest €2.5 million ($2.9 million) on a joint venture company to manufacture hub-mounted drive units for e-bikes. The partnership will officially take place at the end of the month, with Hero holding a 90% stake.
WASHINGTON (BRAIN) — ABUS is recalling about 790 youth helmets because they do not comply with Consumer Products Safety Commission standards.
(BRAIN) — A climate sustainability expert who has examined bike brands' claims said Trek Bicycle should be applauded for producing a sustainability report that looks at a wide array of its impacts.
BOULDER, Colo. (BRAIN) — Now that PeopleForBikes and Call2Recycle have established the industry's first e-bike battery recycling program for U.S. retailers, proper training and equipment will be mandatory to ensure safe storage of expired packs returned to shops, according to a micromobility consulting group.
WASHINGTON (BRAIN) — More money for bike lanes, trail construction and climate change reduction will be available when President Joe Biden signs into law the nearly $1.2 trillion Infrastructure Investment and Jobs Act.
ANOKA, Minn. (BRAIN) — Vista Outdoor's Action Sports segment — which includes its Bell, Giro, Blackburn and Quietkat businesses — saw a sales increase of 9% year over year, the company announced.
NEW YORK (BRAIN) — Peloton Interactive Inc. shares were down more than 34% on Friday after the company lowered its forecasts for 2022 sales.
Peloton is now forecasting full-year fiscal sales of $4.4 billion to $4.8 billion, down from a previous forecast of $5.4 billion.
MONTRÉAL (BRAIN) — Dorel Industries reported sales of $304 million in its Dorel Sports division in its third fiscal quarter this year, a 0.6% decline over sales in the same period last year.
DULUTH, Ga. (BRAIN) — For the fifth consecutive quarter, Fox Factory notched its highest-ever revenue in a fiscal quarter for its 2021 Q3, which ended Oct. 1. Sales were $347.4 million, compared to $261 million in the same period last year.
GLASGOW, Scotland (BRAIN) — A global coalition of 60-plus bicycle organizations published an open letter to urge leaders of more than 120 countries attending the 26th United Nations Climate Change Conference (COP26) to increase the number of people who bike.
PORTLAND, Ore. (BRAIN) — Industry veteran Ed Rae, who in July joined Danish cargo bike brand Triobike as its U.S. agent, died Sept. 23 at his home because of a cardiac issue. He was 68.
PORTLAND, Ore. (BRAIN) — Wheel brand HiFi, Ritte Cycles, and bike shop TriTech Bikes are working with BIKEPOC PNW to offer a series of cyclocross clinics and create a lending library of cyclocross/gravel bikes.
ST. PAUL, Minn. (BRAIN) — The application period opened Monday for Park Tool 2022 Community Tool Grants. The period remains open until Dec. 31.
Now in its seventh year, the Park Tool Community Tool Grant has so far donated over $90,000 worth of tools to organizations throughout the world.
WESTPORT, Conn. (BRAIN) — Compass Diversified, the owner of BOA and Lizard Skins as well as a variety of other middle-market businesses, reported net sales of $488 million in its fiscal third quarter, up from $388 million in the same period last year.
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