International
TAIPEI, Taiwan (BRAIN) — Taiwanese manufacturer Merida Industry Co., which owns 35% of Specialized Bicycle Company, recorded a non-operating loss of over $100 million related to that investment in 2024, as the U.S. bike brand took a deferred tax loss and write-downs on its retail operations.
TAIPEI, Taiwan (BRAIN) — Giant Group reports that its operating profits declined 60% last year as it wrote down NT$1.9 billion ($57.6 million) in inventory provision losses, recognizing the decline in inventory value due to discounting.
HO CHI MINH CITY, Vietnam (BRAIN) — One of Vietnam's largest importers for the domestic market would welcome reciprocal tariffs with the U.S., if they led to a new trade deal and reduced Vietnam's current high import duties on U.S. products.
TAICHUNG, Taiwan (BRAIN) — China’s Zhonglu Co, through one of its subsidiaries, has acquired a 21% share in Factor Bikes while a private equity firm that includes Factor CEO Rob Gitelis also has made an investment. Together the two entities have acquired a majority share in Factor from exiting non-management shareholders, the company told BRAIN.
TOKYO (BRAIN) — Shimano’s sales last year amounted to 451 billion yen ($2.94 billion), down 4.9% from the year before. Operating income and ordinary income also were down while net income was up 25%.
GRIMSBY, United Kingdom (BRAIN) — LeMond Carbon UK is planning a facility here to make carbon fiber wind turbine blades and pressure vessels for hydrogen storage.
KORTRIJK, Belgium (BRAIN) — Pablo Carrasco and Ignacio Estelles, the co-founders of the Rotor Bike Components, launched a new component brand called QO at the Velofollies bike show in Belgium last week.
MURRIETA, Calif. (BRAIN) — Pierer New Mobility GmbH — the e-bike business unit of Pierer Mobility AG — says it will consolidate its functions to headquarters in Munderfing, Austria, and Murrieta, California, and phase out its operations in South Africa, Germany, and the United Kingdom.
(BRAIN) — Tern has opened its first European distribution office in Cologne, Germany. Tern Zentrale will stock the urban mobility company's full range of bikes, accessories, and parts.
TAIPEI, Taiwan (BRAIN) — Giant Group's 2024 operating revenues were down 7.4% from the year prior, but are still above pre-pandemic levels.
TWICKENHAM, United Kingdom (BRAIN) — Folding bike brand Brompton Bicycle Limited recorded a 5.3% decline in revenues in the 12-month period that ended March 31, 2024, according to filings made in the U.K. recently.
HEERENVEEN, Netherlands (BRAIN) — Following a recapitalization agreement in October and a 390 million euro loss in 2023, Accell Group's CEO said the company's recovery is on the way.
TAIPEI (BRAIN) — Giant Group announced its current chairperson, Bonnie Tu, will retire from her position, with current CEO Young Liu appointed as the new chairman, and current Chief Branding Officer Phoebe Liu promoted to CEO. These changes will take effect January 1.
BIELLA, Italy (BRAIN) — Selle Italia has acquired a fellow Italian cycling brand with a long history: Vittoria Cycling Shoes.
TAIPEI, Taiwan (BRAIN) — Giant Group's sales in the first nine months of its fiscal year were down 7.1% compared to the same period last year. The company said that while bike inventory levels continue to decline in Europe and North America, order placement by the company's OE and retail customers is conservative.
(BRAIN) — Eight international cycling companies — Accell, Canyon, Quality Bicycle Products, Rose, Schindelhauer, Schwalbe, Scott, and Trek — have launched an online training course aimed at educating the industry to help reduce greenhouse gas emissions across global supply chains.
OSAKA (BRAIN) — Sales in Shimano's bike-product division were down 12.3% through the first nine months of the year, compared to the same period last year.
LONDON (BRAIN) — Rapha Racing LTD’s total revenues totaled 110 million pounds ($139.7 million at January’s exchange rate) in the 12 months that ended Jan. 28, 2024, down 7% percent from the preceding 12-month period and down from 138 million pounds the year before that.
NEVERS, France (BRAIN) — The LOOK Cycle Group has sold its Corima carbon wheel brand, which is being taken over by its co-founder, Pierre-Jean Martin. Look acquired a majority share in Corima in 2016.
MAGSTADT, Germany (BRAIN) — Taiwan bike maker Merida Industry Co. Ltd. has acquired an additional 39% stake in Merida & Centurion Germany GmbH from its founder, Wolfgang Renner, for 17.3 million euros ($19.05 million). Merida already owned a 51% share in the distributor.
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