News
(BRAIN) — Mobile bike repair franchiser Velofix closed an equity financing round led by Yamaha Motor Ventures, a corporate venture capital fund for mobility and other interests. Yamaha Motor Ventures is joined by existing shareholder MacKinnon, Bennett & Co., and new investor Economic Development Bank of Canada.
OKLAHOMA CITY (BRAIN) — Vittoria Industries announced Tuesday it will move its North American headquarters to Bentonville, Arkansas, in December. The new office space will be inside the Ledger, a new six-story downtown building with bike-friendly amenities.
SCOTTS VALLEY, Calif. (BRAIN) — Giro Sport Design announced its new Ethos Mips and the Ethos Mips Shield helmets on Tuesday. The commuter helmets are designed for commuters and transportation riders and feature front and rear integrated LED lights and turn signals.
LAS VEGAS (BRAIN) — Recon Power Bikes entered a global licensing agreement with GMC to release a new e-bike here today at the SEMA Show to complement the auto manufacturer's Hummer EV Supertruck.
ANOKA, Minn. (BRAIN) — Vista Outdoor, the parent of several bike industry brands, has announced CFO Sudhanshu Priyadarshi will leave the company in November. Separately, Keurig Dr. Pepper announced that it has hired Priyadarshi as its new CFO, effective Nov. 14.
MALLABIA, Spain (BRAIN) — Orbea, which said it has grown significantly in the last 7 years, is reorganizing its executive team to adjust. The reorganization includes the promotion of U.S. industry veteran Nick Howe from U.S. country manager to global sales manager.
ASHEVILLE, N.C. (BRAIN) — Kitzuma Cycling Logistics suspended its delivery service for the fall and winter and laid off most of its driver network in reaction to slowing demand for its door-to-door bike shipping business.
WASHINGTON (BRAIN) — Bike USA Inc. is recalling its Punisher adult cycling helmets because they do not comply with the CPSC's positional stability and impact attenuation requirements, according to a press release from CPSC.
STOCKHOLM (BRAIN) — Thule Group net sales fell 23% year-over-year as global demand for bike products waned because of high inventory levels.
DENVER (BRAIN) — Organizers of The Big Gear Show and the new (e)revolution e-bike show plan to run them concurrently at the Colorado Convention Center here next June 8-11.
The first two editions of The Big Gear Show, which includes bike and outdoor exhibitors, have been held in Park City, Utah.
OLATHE, Kan. (BRAIN) — Garmin Ltd. revenue decreased 4% year-over-year, with the Fitness segment experiencing an 18% decline.
BRIGHTON, United Kingdom (BRAIN) — Startup aerodynamic drag force measurement system Body Rocket announced its recent raise attracted more than 190 UK and EU investors.
TREVISO, Italy (BRAIN) — Cicli Pinarello said its sales were up 24% in its most recent fiscal year, which closed June 30. The company had sales of 84 million euros ($83.6 million at today’s exchange rate) according to a press release.
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