International
TAIPEI, Taiwan (BRAIN) — Speed Tech, an electrical connector supplier, says VanMoof Asia owes it $5,038,000.
TAICHUNG, Taiwan (BRAIN) — Bike manufacturer Ideal Bike Corp. says its representative will make claims worth $1.52 million at a creditors meeting being held Monday by VanMoof Asia Ltd., a Taiwan-based business related to the Netherlands-based e-bike brand.
TAIPEI (BRAIN) — In the U.S., the concept of Environmental, Social and Governance reports has set off an economic/cultural/political "debate," as so many things do. But in Taiwan, ESG reports offer some useful data.
TAIPEI, Taiwan (BRAIN) — Giant Group said the China market's interest in performance cycling drove a 70% sales increase in the half there. However, sales for Giant-branded products in Europe were down 12% in the half, and in the U.S., they were down 44%, the company reported.
(BRAIN) — Citing the "ongoing economic challenges" within the bike industry," The World Federation of the Sporting Goods Industry has postponed its World Cycling Forum 2023 to a later date. The Forum was scheduled for next month at the IAA Mobility conference in Munich, Germany.
TORONTO (BRAIN) — Auctionmaxx, a Canadian liquidation specialist, has agreed with a court-appointed appointed receiver to acquire about 2,260 Reid bikes from Reid’s Canadian distributor, Vellend-Tech Inc. Velland-Tech entered receivership this spring after failing to make payments on a bank credit line.
OSAKA, Japan (BRAIN) — Shimano says interest in bicycles globally continues as a long-term trend, but that macro-economic conditions and industry inventory levels contributed to a 17.7% decline in sales in its bike business in the second quarter this year, compared to the same period last year.
STOCKHOLM (BRAIN) — Thule Group's second-quarter net sales decreased 8.6% year-over-year with the company seeing a sales decline in bike-related products in its Americas region. Net sales for the quarter ending in June were SEK 3,029 million ($296 million) compared with SEK 3,314 million at the same time last year.
AMSTERDAM (BRAIN) — Dutch e-bike brand VanMoof has been granted temporary court protection from creditors.
SEATTLE (BRAIN) — Rad Power Bikes will close its European operations at the end of the year to concentrate on growing its North American market.
GREENWICH, Conn. (BRAIN) — L Catterton, which bought a majority share in Pinarello in 2017, said it has sold the company to "a private family office." European news sources say billionaire Ivan Glasenberg bought it for 200 million euros.
FRANKFURT (BRAIN) — Eurobike, which closed Sunday after its weekend consumer event, attracted 34,750 trade visitors and 31,780 consumer visitors over its four days. Both figures were an increase over last year.
EDINBURGH, Scotland (BRAIN) — The Scottish manufacturer Intra Drive, maker of an 8-speed e-bike motor/gearbox, has launched a new investment round to raise funds to open a production facility at its headquarters in Edinburgh.
BRNO, Czech Republic (BRAIN) — Aspire Sports is expanding Cannondale and GT Bicycles distribution to the Baltics and the Balkans, while also distributing GT only in Austria.
TAIPEI (BRAIN) — Taiwanese bike makers Giant Group, Ideal Bike Corporation and Merida Industry Co., LTD each released their first-quarter earnings reports this month.
MALLABIA, Spain (BRAIN) — Orbea has doubled its workforce in the last three years and now has more than 1,000 employees, with 80% of the in Spain's Basque Country.
OSAKA, Japan (BRAIN) — Shimano's first-quarter net income in its bike division fell 16.8% from last year, while its operating income in the segment was down 31.8%.
MONTEREY, Calif. (BRAIN) — Ryder Innovation, a South African tool and accessories brand, has opened an office in St. Petersburg, Florida, and is displaying at the Sea Otter Classic Expo this week, for the first time,
GOUDHURST, England (BRAIN) — Whyte Bikes acquired Quench Cycles after the retailer shut down over the holidays following 18 years in business.
SAINT-GEORGES, Quebec (BRAIN) — Canadian bike brand Rocky Mountain has acquired the German bicycle distributor BikeAction. Since 1988, BikeAction has been the brand's distributor in Germany, Austria, the Benelux, Slovakia, the Czech Republic, and Slovenia.
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