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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.
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(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.
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OLATHE, Kan. (BRAIN) — Led by the Fitness segment's double-digit revenue growth, Garmin Ltd. second-quarter revenue increased 6% year-over-year.
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(BRAIN) — Sales in Fox Factory's Speciality Sports Group, comprised of its bicycle-related brands Fox, Marzocchi, RaceFace and Easton, were down 41% in the company's second quarter. The company said the decrease was "driven by higher levels of inventory across various channels."
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SAN MATEO, Calif. (BRAIN) — GoPro Inc. revenue declined 3.9% year-over-year despitethe company's return to pre-pandemic pricing in the second quarter and retail-channel revenue growth of 6%.
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BETHESDA, Maryland (BRAIN) — Mike Fritz left last week's Consumer Product Safety Commission public hearing on lithium-ion battery safety confident he and other industry representatives convinced the agency mandatory regulations are needed.
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NEW YORK (BRAIN) — E-mobility rental and sales company micromobility.com submitted a non-binding bid to acquire e-bike brand VanMoof, which was declared bankrupt by the court of Amsterdam on July 17.
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VANCOUVER, British Columbia (BRAIN) — Envo Drive Systems, the maker of various electric vehicles including e-bikes, has acquired VeloMetro Mobility, a fellow Vancouver-based company, which went bankrupt last winter.
![The Reid Ladies Classic is among the bikes being liquidated in Canada. The Reid Ladies Classic is among the bikes being liquidated in Canada.](https://bicycleretailer.com/sites/default/files/styles/thumbnail/public/images/article/unnamed-2_42.jpg?itok=vwbfrCOk)
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.
CHANHASSEN, Minn. (BRAIN) — Life Time Group Holdings, the parent of bike events including the Leadville 100, the Sea Otter Classic and Unbound Gravel, reports that revenue in its "other" category was up 25.7% in the first half of the year.
![FDNY photo from a battery-charging business it shut down this year. FDNY photo from a battery-charging business it shut down this year.](https://bicycleretailer.com/sites/default/files/styles/thumbnail/public/images/article/fpxjrgvx0aa3yiv.jpeg?itok=oUbA6t4K)
BETHESDA, Md. (BRAIN) — Mandatory federal regulations will be necessary to curb the growing fire danger from lithium-ion batteries, industry representatives said at a Consumer Product Safety Commission public hearing Thursday.
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ANOKA, Minn. (BRAIN) — In its most recent quarter, Vista Outdoor recorded an 8% sales increase in its Outdoor Products business unit, which encompasses Bell, Giro, Fox Racing, Blackburn, QuietKat, and CamelBak, among other brands. Much of the increase, however, was due to acquisitions — including Fox Racing.
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WASHINGTON (BRAIN) — Representatives from various organizations — including the bicycle industry, independent standards groups, and consumer safety advocates — will meet Thursday at 10 a.m. EDT to discuss lithium-ion battery safety at a Consumer Product Safety Commission forum.