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TAIPEI (BRAIN) — Taiwanese bike makers Giant Group, Ideal Bike Corporation and Merida Industry Co., LTD each released their first-quarter earnings reports this month.

Tagged Earnings/Financial Reports

MALLABIA, Spain (BRAIN) — Orbea has doubled its workforce in the last three years and now has more than 1,000 employees, with 80% of the in Spain's Basque Country.

Tagged Earnings/Financial Reports
Company-wide, Shimano is forecasting that net income will be 46% below 2022's results this year.

OSAKA, Japan (BRAIN) — Shimano's first-quarter net income in its bike division fell 16.8% from last year, while its operating income in the segment was down 31.8%.

Tagged Earnings/Financial Reports
The Ryder Innovation Luberetta is a chain lubrication device.

MONTEREY, Calif. (BRAIN) — Ryder Innovation, a South African tool and accessories brand, has opened an office in St. Petersburg, Florida, and is displaying at the Sea Otter Classic Expo this week, for the first time,

Tagged Sea Otter Classic

GOUDHURST, England (BRAIN) — Whyte Bikes acquired Quench Cycles after the retailer shut down over the holidays following 18 years in business.

SAINT-GEORGES, Quebec (BRAIN) — Canadian bike brand Rocky Mountain has acquired the German bicycle distributor BikeAction. Since 1988, BikeAction has been the brand's distributor in Germany, Austria, the Benelux, Slovakia, the Czech Republic, and Slovenia.

Frank Bohle

REICHSHOF, Germany (BRAIN) — The privately-owned company that owns the tire brand Schwalbe is reporting 2022 sales of 335 million euros ($359 million), up 20% from the year prior. It was a new company sales record in its 50th anniversary year.

Tagged Earnings/Financial Reports
The company said it still has excess inventory but demand remains high for e-bikes and high-end bikes.

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.

Tagged Earnings/Financial Reports

FRANKFURT (BRAIN) — The 2024 Eurobike show will be held July 3-7 at the Messe Frankfurt, organizers announced Thursday.

Tagged Tradeshows and conferences / Eurobike
The time capsule was buried in the factory foundation this week.

KĖDAINIAI FREE ECONOMIC ZONE, Lithuania (BRAIN) — Pon company officials buried a symbolic time capsule this week in the foundation of a new 40,000-square-meter (431,000-square-foot) bike factory being constructed here.  

(BRAIN) — PIERER Mobility AG reported record revenues in its fiscal 2022, with sales of 2.437 billion euros ($2.65 billion), 19% higher than the year before. By unit, Pierer's sales of bikes and e-bikes were up 15% last year to 118,000 while sales of motorcycles were up 13%, to 376,000.

Tagged Earnings/Financial Reports

NEUSS, Germany (BRAIN) — This week an executive at the company that previously owned Amprio, Rheinmetall AG, said Amprio has been sold. But he declined to say who bought it.

Tagged Electric bike / Mergers, Acquisitions & Investments
3T collaborated with Lamborghini on a special model this month.

VERONA, Italy (BRAIN) — An Italian investment group, UTurn Investments, has made an investment in component and bike brand 3T. René Wiertz and Gérard Vroomen will remain shareholders and managers.

The company said it has sales of 20 million euros ($21.2 million) per year and an EBITA of 5 million euros. 

Tagged Mergers, Acquisitions & Investments

SAN VENDEMIANO, Italy (BRAIN) — Cytech, which dominates the OE cycling padding market with its Elastic Interface brand, has acquired Pasasport S.r.l., an OE glove maker.

Tagged Mergers, Acquisitions & Investments

ANTWERP, Belgium (BRAIN) — Classified Cycling has raised 22 million euros ($22.9 million) from an investment led by London-based Active Partners. Active Partners is a past investor in Rapha and retailer Evans Cycles.

LONDON (VELONEWS) — Rapha's CEO William Kim will step down, with Francois Convercey and Daniel Blumire taking over as joint managing directors, the company announced.

DESDEN, Germany (BRAIN) — German e-commerce retailer Bike24 had third-quarter sales of 72.6 million euros ($73.8 million), up 12.9% from the same period last year.

Tagged Earnings/Financial Reports

(BRAIN) — TheInformation.com, a tech trade title, is reporting that Sequoia Capital's China wing has made a recent investment in the e-bike brand Aventon. The investment would value the company at $590 million, according to the report, which cites two anonymous sources.

Tagged Electric bike / Mergers, Acquisitions & Investments

TAIPEI, Taiwan (BRAIN) — Giant Group's net sales totaled NT$70.87 billion ($2.2 billion) through its first three fiscal quarters, a 14.4% increase over the same period last year. 

Tagged Earnings/Financial Reports
U.S industry veteran Nick Howe is named global sales manager.

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.

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