Industry News

SAN MATEO, Calif. (BRAIN) — GoPro reported fourth-quarter revenue decreased 18% year-over-year and for the year it dropped 6%.

Tagged Earnings/Financial Reports

IRVINE, Calif. (BRAIN) — The National Bicycle Dealers Association is now maintaining an e-bike database that includes supplier-provided information on certifications and insurance policies for bikes available in the U.S.

Tagged Electric bike

SEATTLE (BRAIN) — REI Co-op laid off about 8% of its headquarters' workforce at the end of January, impacting 167 leaders and employees as it faces increasing economic uncertainty.

ANOKA, Minn. (BRAIN) — Vista Outdoor Inc. said its sales were down $40 million, to $755 million, in its third quarter, compared to the same period last year.

Tagged Earnings/Financial Reports
Gary McArthur

ANOKA, Minn. (BRAIN) — On the same day the company released its third-quarter earnings report, Vista Outdoor announced it appointed an interim CEO after its board asked Chris Metz to step down from the position.

LOS ANGELES (BRAIN) — Specialized Bicycle Components has shut down women's clothing brand Machines For Freedom, which it purchased from founder Jennifer Kriske five years ago.

(BRAIN) — Agustin Gonzalez, a former regional supervisor for bike delivery service Kitzuma, has opened his own delivery service to serve the West Coast and parts of the Southwest.

(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

TAIPEI, Taiwan (BRAIN) — Giant Group has made a $20 million investment in Stages Cycling, acquiring 32.5% of the company's common stock according to a filing with the Taiwan stock exchange.

Tagged Mergers, Acquisitions & Investments

SEATTLE (BRAIN) — Rad Power Bikes CEO Phil Molyneux said in an email to customers this week that the company has made mistakes and will learn from them.

Tagged Electric bike

SAN CLEMENTE, Calif. (BRAIN) — GEF Capital Partners, a private equity firm, has made an investment in MURF Electric Bikes, a seven-year-old brand with its roots in surf culture.

Tagged Electric bike / Mergers, Acquisitions & Investments
Photo courtesy of MADE.

PORTLAND, Ore. (BRAIN) — Organizers of MADE, a new handmade bike show scheduled for August in Portland, have opened up registration and appointed industry veteran Steven Elmes as show director.

Tagged Consumer Expos and Rides

NEW YORK (BRAIN) — A New York City council member introduced legislation a week ago to ban e-bikes and e-scooters until they can be made safer and called for them to be treated like motor vehicles.

Tagged Electric bike
Bonnie Tu, the chairperson of Giant Group, and Eric Min, the founder and CEO of Zwift, are among the keynote speakers, along with REI's CEO Eric Artz and Cotopaxi CEO Davis Smith.
Bonnie Tu

BOULDER, Colo. (BRAIN) — PeopleForBikes has announced speakers for its Bicycle Leadership Conference, to be held March 14-16 in Dana Point, California.

Tagged Bicycle Leadership Conference
Jeff McGuane from Fox Racing will become president of the unit.

ANOKA, Minn. (BRAIN) — Vista Outdoor announced internally on Tuesday that it has realigned management of its cycling, snow and powersports brands that make up its Action Sports business unit.

AMSTERDAM (BRAIN) — E-bike brand VanMoof asked for and will receive a capital investment from its shareholders after it predicted its survival would be in jeopardy in the first quarter of 2023, the Dutch newspaper

Tagged Electric bike

SAN FRANCISCO (BRAIN) — Strava has acquired Fatmap, a company whose 3D-map mobile app is targeted at outdoor enthusiasts including climbers and mountaineers. Strava said it will use the Fatmap technology to add 3D mapping to its cycling/running app. Premium members of Strava will gain access to Fatmap.

Tagged Mergers, Acquisitions & Investments

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

PHILADELPHIA (BRAIN) — State Farm Insurance Company has filed an amended complaint against Rad Power Bikes, adding a Taiwanese bike manufacturer and a battery pack manufacturer as defendants, in its lawsuit on behalf of a homeowner who suffered property damage from a fire.

Tagged Lawsuits/legal / Electric bike
A photo of a Princeton Carbon Wheelworks wheel from the SRAM complaint.

WEST PALM BEACH, Fla. (BRAIN) — The judge in a patent dispute between SRAM and Princeton Carbon Works is promising "a proverbial battle of experts."

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