Industry News
ANOKA, Minn. (BRAIN) — Sales declined 13.6% and gross profit decreased 14.2% in the most recent quarter for Vista Outdoor's Revelyst business unit, which includes its bicycle-related brands. The company continues to negotiate with two potential buyers for its Kinetic Group ammunition business and for the entire business. And its board recently announced it's exploring "a full range of alternatives" for Revelyst.
Fox said sales of its bike products in the half were down $87.9 million — or 39.3% — from the same period last year.
CORONA, Calif. (BRAIN) — Troy Lee has bought Troy Lee Designs back from 2Ride Holding, which acquired the brand in 2022 from SBJ Capital.
CHANHASSEN, Minn. (BRAIN) — Life Time Group Holdings, the parent company of events including the Sea Otter Classic, Unbound Gravel and Leadville 100, announced that its sales were up 18.9% in the second quarter to $667.8 million.
WASHINGTON (BRAIN) — In a unanimous vote that should benefit legitimate bike suppliers, the Consumer Product Safety Commission ruled that Amazon is a distributor and bears responsibility for products sold by third-party sellers that are defective or fail to meet federal safety standards and has a legal responsibilit
OLATHE, Kan. (BRAIN) — Led by the Fitness segment's double-digit growth, Garmin Ltd. second-quarter revenues increased 14% compared to the same period last year.
For the quarter ending June 29, Garmin reported sales of $1.51 billion with operating income increasing 20% to $342 million.
ANOKA, Minn. (BRAIN) — Vista Outdoor will consider selling the Revelyst division that includes its bicycle-related brands as its board of directors begins a review of "strategic alternatives."
OSAKA, Japan (BRAIN) — Shimano bike component sales decreased 20.7% year-over-year in the first half with the brand saying global market inventories remain elevated.
BOULDER, Colo. (BRAIN) — Nonprofit DEI advocacy group Camber Outdoors will close in August after 28 years, the board of directors and leadership team announced on Saturday.
SALT LAKE CITY (BRAIN) — Scott USA named Jake Dudek chief operating officer, effective immediately. Dudek has more than 15 years of experience in operations, finance, and analytics in consumer product and retail businesses.
(BRAIN) — Swedish sports nutrition brand Maurten has closed on a 20 million euro ($21.7 million) investment led by IRIS Ventures. The investment round also had participation from existing investors including Dan Sten Olsson, the CEO of Stena Sphere, a Swedish investment firm.
NEW YORK (BRAIN) — The city's Department of Transportation has released details of its $2 million trade-in program for food delivery workers using uncertified e-bikes, other e-mobility devices, and lithium-ion batteries.
CHATTANOOGA, Tenn. (BRAIN) — Peter Hurley, the CEO of The American Bicycle Group, passed away from a heart attack while on a morning run Friday. He was 67.
ABC is the parent company of the Quintana Roo, Litespeed and OBED brands.
STOCKHOLM (BRAIN) — Led by growth in the Sports category — which includes bike helmets — MIPS' second-quarter net sales increased 31% year-over-year.
ANTWERP, Belgium (BRAIN) — Belgian drivetrain startup Classified has hired Dennis Weijers as its Chief Commercial Officer. Weijers was most recently the marketing director for Shimano Europe.
Prior to Shimano, Weijers held various leadership roles at TomTom.
STOCKHOLM (BRAIN) — Thule Group's net sales increased 2.3% year-over-year in the second quarter when the carrier brand also reached agreement for new financing with selected Nordic banks and also acquired a small German bike trailer company.
OAKLAND, Calif. (BRAIN) — Longtime industry veteran Howard Sutherland, who authored a seven-edition bike repair book that was a mainstay on bike shop workbenches for decades, died June 19.
He was 75.
AMSTERDAM (BRAIN) — VanMoof is offering a $1,000 discount on a current S5, A5, or future e-bike to customers who paid for an order that wasn't fulfilled when the brand declared bankruptcy a year ago.
HEERENVEEN, Netherlands (BRAIN) — Accell Group recently issued a business update to its shareholders and business partners and included an update on its Babboe cargo bike recall over concerns about the structural integrity of its frames.
ALBANY, N.Y. (BRAIN) — New York Gov. Kathy Hochul on Thursday signed into law a legislative package to enhance lithium-ion battery safety standards that includes recognizing EN and UL testing standards.
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