Industry News
MIAMISBURG, Ohio (BRAIN) — Challenge accepted.
Encouraged by a BRAIN cover story from July 2019 about the industry lagging behind other outdoor segments in sustainability, VAAST Bikes revamped all packaging, making it plastic-free and unveiling it in March.
COCHRANE, Alberta (BRAIN) — 4iiii Innovations has named industry veteran Phil White acting president.
White, co-founder of Cervélo Cycles, will be asked to fortify 4iiii's electronics and sensor technology growth.
ANNECY, France (BRAIN) — A French newspaper is reporting that a business lawyer is planning to "save" Mavic, which was placed in receivership earlier this month. The lawyer is working with a group that includes bicycle industry experts and two former pro cyclists.
SALT LAKE CITY (BRAIN) — Organizers of The Big Gear Show, a new outdoor and bike trade show planned for July, have decided to cancel the inaugural event and reschedule for Aug. 2-3, 2021.
TAICHUNG, Taiwan (BRAIN) — As COVID-19 works its way through the global economy, Giant Group’s first-quarter revenue took a hit as predicted. But as lockdown orders in Europe begin to ease and as China begins a return to normal, second-quarter sales could pick up, the company said.
CAPE TOWN, South Africa (BRAIN) — Leatt Corp. had its best first quarter in company history, helped by the global launch of its mountain bike shoe line.
PARK CITY, Utah (BRAIN) — Mavic's U.S. operations are continuing as usual despite the brand's French wing being put into receivership, the CEO of MAVIC USA told BRAIN.
WASHINGTON (BRAIN) — The U.S. Trade Representative has granted tariff exclusions to imports of Chinese carbon fiber front and rear frame triangles and carbon fiber rims.
MONTRÉAL (BRAIN) — Dorel Sports, parent company of Cycling Sports Group and Pacific Cycle Group, saw a 2% sales increase in the first quarter thanks to good business in the final two weeks of March.
ANNECY, France (BRAIN) — Mavic has been put into receivership at the French commercial court in Grenoble, after being put under the management of a turnaround firm in February.
SAN MATEO, Calif. (BRAIN) — GoPro Inc. said Thursday afternoon first-quarter revenue fell 51% year-over-year, in line with what the company predicted last month after announcing a workforce reduction and a transition to direct-to-consumer sales in the wake of the COVID-19 pandemic.
GILBERT, Ariz. (BRAIN) — Fifteen USA BMX tracks in six states held "soft" reopenings for practice and races last week under state and city social distancing guidelines established during the COVID-19 pandemic.
NEW YORK (BRAIN) — Peloton's sales grew 66% to $524.6 million in the first quarter, as the brand's Connected Fitness subscriber count grew 94% to 886,100, digital subscribers grew 64% to 176,600 and total membership grew to 2.6 million.
BRASELTON, Ga. (BRAIN) — Fox Factory recorded a 1.8% decline in revenue in its Speciality Sports Group, which is comprised of sales of bicycle products sold under the Fox, Marzocchi, Race Face and Easton brands. The company attributed the decline to "a shift in timing of OEM orders."
MILAN (BRAIN) — Chimera Investments LLC, an investment fund based in Abu Dhabi, United Arab Emirates, has acquired a majority of the shares in Colnago, the Italian road bike brand.
FRIEDRICHSHAFEN, Germany (BRAIN) — Eurobike, originally scheduled for Sept. 2-5, has been moved to the late November dates that organizers previously announced as a backup.
WASHINGTON (BRAIN) — The Small Business Administration said Sunday it issued 2.2 million Paycheck Protection Program loans valued at $175 billion in the first week of the second round of federal funding during the COVID-19 pandemic.
BROOKLYN, N.Y. (BRAIN) — Recent "Pandemic Check-ins" have featured executives with large IBD suppliers in Wisconsin, California, and Minnesota. Today we check in with a smaller supplier based in the pandemic's epicenter and who is experiencing a major sales boom — with sales up 600% so far this year.
WASHINGTON (BRAIN) — The Small Business Administration and Department of the Treasury will make it easier for small businesses to obtain Paycheck Protection Program loans.
OLATHE, Kan. (BRAIN) — Garmin Ltd. total revenue increased 12% in the first quarter of 2020 year-over-year, with its fitness division that includes smart-trainer sales growing 24%.
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