News
Too many bikes is nothing new. In fact we’ve been oversupplying ourselves for a decade.
TAICHUNG, Taiwan (BRAIN) — Giant Group's revenue was up 12.5% last year, to NT$92.04 billion ($2.99 billion) up from NT$81.8 billion in 2021.
(BRAIN) — Life Time Group Holdings, which owns multiple endurance bike events and the Sea Otter Classic, reported revenue of $1.8 billion for its fiscal year 2022, up nearly 38% from the year prior.
STOCKHOLM (BRAIN) — Hedkayse announced it will integrate twlCEme smart technology into its foldable helmets.
WASHINGTON (BRAIN) — The Consumer Product Safety Commission is warning consumers to immediately stop using and destroy TureClos bike helmets, sold on Walmart.com last year, because they do not meet federal safety standards.
ASPEN, Colo. (BRAIN) — Vail Resorts is closing 19 retail locations in the Colorado mountains. Most of the locations offered winter sports sales and rentals, but several of them also offered bike sales and rentals. The closures will cost 69 workers their jobs.
LONG BEACH, Calif. (BRAIN) — Virtual cycling brand Zwift is letting go 15% of its staff in its latest round of layoffs. The company also cut workers last May and November.
BOISE, Idaho (BRAIN) — Selle Italia will form its own North American subsidiary here and hired Justin Harvey to manage it. Current distributor Lucidity Business Development will end its relationship with the saddle brand March 15.
In addition to Selle Italia, Harvey will manage San Marco and idmatch.
PITTSBURGH (BRAIN) — Dick's Sporting Goods reported record full-year 2022 net sales while fourth-quarter sales grew 7.3% year-over-year.
NEWARK, N.J. (BRAIN) — A sentencing hearing has been rescheduled for Samuel J. Mancini, who pleaded guilty last year to securities fraud related to a fund with plans to buy several Italian cycling brands.
LOUISVILLE, Colo. (BRAIN) — British outdoor brand Rab is launching its first collection of cycling apparel this spring. The collection aimed at off-road rides includes about 30 styles and will be available online and through a handful of retailers, the company said.
PHILADELPHIA (BRAIN) — The Philly Bike Expo, one of the country's largest consumer expos, is moving from its traditional fall timeframe to springtime next year. The show's next edition will be March 16-17, 2024, at the Pennsylvania Convention Center.
WASHINGTON (BRAIN) — The Consumer Product Safety Commission has recalled Ouwoer Direct multipurpose kids bike helmets sold exclusively on Amazon because they don't comply with the positional stability and impact requirements.
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