Industry News

(BRAIN) —, 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.

Tagged Electric bike / Mergers, Acquisitions & Investments
Fire officials speak to the media following Saturday's fire. FDNY Instagram photo.

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.

Tagged Electric bike
Getty stock image.

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.

Tagged Lawsuits/legal / Supply chain / Broken Chain

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.

Image from an FDNY Instagram post.

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.

Tagged Electric bike

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.

Tagged Earnings/Financial Reports
The group includes Bell, Giro, QuietKat and Fox Racing.

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.

Tagged Earnings/Financial Reports

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.

Tagged Lawsuits/legal

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. 

Tagged Earnings/Financial Reports

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.

Tagged Earnings/Financial Reports

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.

Tagged Earnings/Financial Reports

BOULDER, Colo. (BRAIN) — Bicycle Retailer & Industry News has added a free weekly email newsletter devoted to e-bike industry news.

Tagged Electric bike / BRAIN 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.

Tagged Mergers, Acquisitions & Investments

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.

Tagged Electric bike
Company releases preliminary earnings figures ahead of Thursday's full report.

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.

U.S industry veteran Nick Howe is named global sales manager.

MALLABIA, Spain (BRAIN) — Orbea, which said it has grown significantly in the last 7 years, is reorganizing its executive team to adjust. The reorganization includes the promotion of U.S. industry veteran Nick Howe from U.S. country manager to global sales manager.

ASHEVILLE, N.C. (BRAIN) — Kitzuma Cycling Logistics suspended its delivery service for the fall and winter and laid off most of its driver network in reaction to slowing demand for its door-to-door bike shipping business.

STOCKHOLM (BRAIN) — Thule Group net sales fell 23% year-over-year as global demand for bike products waned because of high inventory levels.

Tagged Earnings/Financial Reports


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