Industry News

WATERLOO, Wis. (BRAIN) — Following an emissions audit in the past year, Trek Bicycle announced Wednesday operational areas it will address to reduce its carbon footprint. WAP Sustainability Consulting conducted the audit to measure Trek's environmental impact.

Tagged DEI and Sustainability

OLATHE, Kan. (BRAIN) — With double-digit growth in all categories, Garmin Ltd. reported second-quarter total revenue increased 53% year-over-year.

Tagged Earnings/Financial Reports
The Denver-based fund planned to acquire De Rosa, De Marchi and Limar.

DENVER (BRAIN) — Samuel J. Mancini, the managing director of a Denver-based fund that had plans to invest in cycling companies, was arrested in Denver last week and faces federal securities fraud, wire fraud and money laundering charges.

Company makes little mention of supply challenges in its half-year report; raises full-year sales and income forecasts.

OSAKA, Japan (BRAIN) — Shimano only briefly mentioned the global bicycle part shortages in a typically terse first-half financial results announcement, which reported that sales in its bicycle product division were up 73.4% in the first half of its fiscal year, compared to the same period in 2020.

Tagged Supply chain / Coronavirus / Earnings/Financial Reports

LONDON (BRAIN) — The U.S.-based cycling apparel company Velocio is aligning with manufacturers in three other countries to provide clothing repair services to customers in those nations. The brands say the cooperation will reduce international shipping, benefitting the environment and reducing costs.

WASHINGTON (BRAIN) — An e-bike tax credit bill similar to the one created in the House in February was introduced into the Senate last week.

Tagged Electric bike

HEERENVEEN, Netherlands (BRAIN) — Accell Group N.V. notched a sales increase of 3.3% in the first half of its fiscal year, but the company said it could have done better if not for supply and logistical issues.

Tagged Earnings/Financial Reports
Travel restrictions, COVID-19 concerns, inventory challenges among reasons given for bypassing this year's expo.

FRIEDRICHSHAFEN, Germany (BRAIN) — Eurobike released its initial exhibitor list this week for the upcoming 29th edition of the expo that will be held for the first time in two years following the COVID-19 pandemic.

BRAIN is planning a special Gear Guide in our September issue devoted to bike lights.

BOULDER, Colo. (BRAIN) — Titanium bike and component manufacturer Janus Cycle Group announced Thursday it sold all company assets to Phil Joseph, a former real estate executive.

Tagged Mergers & Acquisitions
CEO says price increases coming in Q3.

STOCKHOLM (BRAIN) — Continued global demand for bike helmets drove MIPS' year-over-year 115% net sales increase in the second quarter, with organic growth rising 139%.

Tagged Earnings/Financial Reports

(BRAIN) — With 12 weeks to go until the scheduled event, organizers of Sea Otter Australia have decided to postpone it until 2022.

Tagged Consumer Expos and Rides

POOLE, England (BRAIN) — Bike and motorcycle care company Muc-Off announced Wednesday it exceed a goal to reduce plastic packaging and will expand its Project Green initiatives.

Tagged DEI and Sustainability

STOCKHOLM (BRAIN) — Thule Group net sales increased 58.1% for the second quarter year-over-year, partially driven by sport and cargo carrier sales with more people this year traveling by vehicle after the lockdown of 2020.

Tagged Earnings/Financial Reports

OSAKA, Japan (BRAIN) — Shimano has re-opened its factory in Malaysia, according to a report out of Europe. The company's factory there had been closed since about June 14, and had operated at 60% capacity for two weeks before that, due to the COVID-19 pandemic.

Tagged Supply chain / Coronavirus
Mathias Ihlenfeld, Christian Bezdeka, Marcus Ihlenfeld, and Guido Dohm.

AUSTIN, Texas (BRAIN) — Upscale consumer-direct kids bike brand woom has merged its U.S. and European operations, saying the move will enhance supply chain and manufacturing capacities and eventually double its workforce globally.

The French company may be the last remaining independent tubular maker.

BOULDER, Colo. (BRAIN) — Outside, the fast-growing media company that is parent to Bicycle Retailer and an array of outdoor sports media titles, is bolstering its presence in cycling by announcing the acquisition of Canada-based Pinkbike; Pinkbike's mountain bike mapping app, TrailForks; and CyclingTips, which Pinkbike acquired in 2019.

Tagged Media/Publishing / BRAIN News
The Garneau Mike Woods limited edition shoe. Photo by Tristan Cardew.

SAINT-AUGUSTIN-DE-DESMAURES, Québec (BRAIN) — Louis Garneau Sports Group expanded into Europe this month with the opening of a distribution center in Toulouse, France.

Tagged Distributor news
Former pro racer Andrea Tonti is among the new investors.
La Passione founders Yurika Marchetti and Giuliano Ragazzi.

BRESCIA, Italy (BRAIN) — Italian consumer-direct cycling apparel brand La Passione has raised 7 million euros ($8.3 million) from a group of investors, including some of its existing investors, new investment funds and "business angels." The amount will be invested over four years.

Tagged Mergers & Acquisitions

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