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International

UPDATED. Company plans to open concept stores in prestigious capital cities.

GREENWICH, Conn. (BRAIN) — Italy's Pinarello bike brand has been purchased by L Catterton, a U.S.-based private equity firm. The luxury brand conglomerate LVMH, the owner of Louis Vuitton and other brands, is a part owner of L Catteron. A purchase price was not released.

Tagged Mergers & Acquisitions

MT. KISCO, N.Y. (BRAIN) — Eddy Merckx Cycles has appointed Tom Van Cauwenberghe as its new CEO as the brand's parent company and board continue to execute a multi-year plan to make it profitable. 

Tagged People

FRIEDRICHSHAFEN, Germany (BRAIN) — Organizers of the Eurobike show have decided the 2018 event — which will its first in the new time frame of early July — will be a three-day event, with no consumer day.

The 2018 event will be Sunday, July 8, through Tuesday, July 10. 

Tagged Eurobike

SANTA CRUZ, Calif. (BRAIN) — Praxis Works has appointed Antoine Berte to the newly created position of European sales and marketing director. The company said the creation of the position was in response to increasing global demand for Praxis' line of cranksets, chainrings, wheels and bottom brackets.

Tagged People

MONTREAL (BRAIN) — Argon 18 has opened its first international office, which comes as the Canadian bike brand begins sponsoring and supplying the Astana Pro Team, the first World Tour team that the company has supplied. The new office is Busnago, Italy. 

Tagged Racing & Sponsorship

LONDON (BRAIN) — The Mail on Sunday is reporting that the British cyclewear brand Rapha is in discussions about a possible purchase by the luxury goods company LVMH, the owner of Louis Vuitton and other brands.

NEWCASTLE, Australia (BRAIN) — Crankbrothers is now distributed exclusively by Lusty Industries Pty Ltd in Australia. Lusty has been the brand's non-exclusive distributor since January, along with Bikesportz Imports.

Among the new investors are a Korean bike maker and the co-founder of PayPal.

LONG BEACH, Calif. (BRAIN) — Zwift, the maker of an online cycling platform, has raised an additional $27 million in venture capital funding, according to CrunchBase.com.

MADISON, Wis. (BRAIN) — Saris Cycling Group, the parent company for Saris Racks, CycleOps, and PowerTap, has announced new distributors for its brands in Australia.

Company looking to omni-channel sales to compensate for reduced specialty retailer sales.

HEERENVEEN, Netherlands (BRAIN) — Sales of performance e-bikes continue to drive sales increases for Accell Group, the parent company of Raleigh, Diamondback, Haibike and other bike brands.

Tagged Omnichannel / Earnings/Financial Reports
UPDATED

KUNSHAN, China (BRAIN) — Jeffrey Winterkorn, SRAM’s vice president of global manufacturing, told employees at the company’s Kunshan factory Monday that closing the plant was a “difficult decision.” 

TAICHUNG, Taiwan (BRAIN) — The global slump in bicycle sales, especially in the U.S. and China, has taken a toll on Giant's first three quarters of 2016 with overall revenue down 6.5 percent.

Tagged Earnings/Financial Reports

GIRONA, Spain (BRAIN) — Early exhibitor registration is now open for the first Sea Otter Europe in Girona, which is planned for June 2-4 next year.

Tagged Sea Otter Classic
Global sales decline for the quarter and year to date.

CAPE TOWN, South Africa (BRAIN) — Protective gear maker Leatt Corporation is seeing strong growth in the U.S. market this year, with sales up 33 percent in the third quarter and 19 percent for the year to date. 

Tagged Earnings/Financial Reports

KETCHUM, Idaho (BRAIN) — Pro cyclist Rebecca Rusch will lead a bike tour along the Ho Chi Minh Trail in Laos next week, to raise awareness about unexploded ordnance that remain from the Vietnam War and raise funds for the safe removal of ordnance from war zones.

TAICHUNG, Taiwan (BRAIN) — Jerry Huang, who retired from Jagwire after 25 years with the cable-housing manufacturer, has launched his own line of products under the Ciclovation brand.

RICHMOND, Australia (BRAIN) — The Australian accessory brand Knog, which had a successful Kickstarter campaign for its Oi bike bell, ended its campaign for a new backup battery after pledge momentum stalled.

BENTONVILLE, Ark. (BRAIN) — The International Mountain Bicycling Association's board of directors has elected Dave Wiens as its new chairman at the IMBA World Summit being held here this week. Previous board chairman Robert Winston served as chair for six years.

Tagged Advocacy/Non-profits / People

BOULDER, Colo. (BRAIN) — Next week's IMBA World Summit in Bentonville, Arkansas, is the first of the organization's biennial events to sell out and is expected to have the highest attendence in history.

MESQUITE, Texas (BRAIN) — Sports drink maker The Pickle Juice Company has added distribution in Central and South America and Australasia, including Australia, New Zealand, New Guinea and neighboring islands.

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