Industry News

Relocation to a 137,000-square-foot facility begins in November.
The Pro's Closet raised $12 million.

BOULDER, Colo. (BRAIN) — The Pro's Closet's growth during the unprecedented bike shortage this year has attracted additional funding and led to an upcoming relocation to a bigger facility.

Year-to-date imports are up just 9.6% in units and down in dollars.

WASHINGTON (BRAIN) — U.S. bike imports have been steadily increasing each month since May, but the industry still has a long way to go to recover from a slow start to the year and the skyrocketing retail demand for bicycles during the U.S. COVID-19 pandemic.

Benno Baenziger (left) and Uwe Kalliwoda. Courtesy Benno Bikes.

DEL MAR, Calif. (BRAIN) — With Uwe Kalliwoda, Benno Bikes founder and managing director Benno Baenziger has brought an experienced industry player into the team, who after an extensive career and two-year time-out, will become an actively involved partner.

SACRAMENTO, Calif. (BRAIN) — A state senate bill was amended that would have made California's share bike and scooter providers liable for rider injuries and possibly jeopardizing the state's micromobility business.

Tagged Bikeshare
Chad Burnett died in police custody May 24.

COLORADO SPRINGS, Colo. (BRAIN) — The El Paso County District Attorney's Office will not charge Colorado Springs police involved in the death of a professional bike fitter and former Colorado Cyclist product line manager who died in custody.

MONTRÉAL (BRAIN) — Louis Garneau Sports' proposed restructuring plan would allocate about $550,000 Canadian dollars ($418,000) to be shared by the company's unsecured creditors, who are owed about CA$12.8 million, according to official documents released this week.

BH Burgos mechanics pose in the new outfits.

(BRAIN) — Many brands use the upcoming Tour de France to show off their new products or team kit. FSA and Vision are using the opportunity to show off the apparel being provided to mechanics in teams the brands sponsor at the race.

Dick's Sporting Goods had a record second quarter in sales.

PITTSBURGH (BRAIN) — Led by e-commerce growth spurred by the COVID-19 pandemic, Dick's Sporting Goods had a record second quarter in sales.

Tagged Earnings/Financial Reports
PeopleForBikes is conducting a racial justice survey.

BOULDER, Colo. (BRAIN) — PeopleForBikes is conducting a survey to build a more inclusive and anti-racist industry. Details of the industry-wide survey were emailed Tuesday afternoon.

Debbie and Chuck  Teixeira recently celebrated their 15th wedding anniversary.

SANTA CRUZ, Calif. (BRAIN) — As of Friday morning, more than 64,000 people have been evacuated because of the 50,000-acre wildfire ravaging the state. For one industry veteran, the fire was especially costly.

Louis Garneau

SAINT-AUGUSTIN-de-DESMAURES, Québec (BRAIN) — Louis Garneau Sports, which filed for bankruptcy protection in March, is presenting a new debt-restructuring plan to its creditors. The company said it has lined up a group of investors who will help it relaunch and keep it headquartered in Québec. The company did not reveal the identity of the investors.

PORT WASHINGTON, N.Y. (BRAIN) — Perhaps because of the lack of supply of lower-priced bikes, retailers saw a bump in sales of $1,000-plus bikes in June, contributing to a 63% year-over-year growth in bike sales that month, according to the NPD Group.

MADISON, Wis. (BRAIN) — Trek Bicycle has announced a new partnership with Bike Exchange, an online marketplace. The deal will allow North American Trek dealers to showcase and sell some Trek products online through the BikeExchange.com platform.

ASBURY PARK, N.J. (BRAIN) — Elizabeth Giaquinto was the industry's first female outside rep and has been serving Bianchi for the last 32 years in the New York and New Jersey area.

Earnings per share hit company record.

TAICHUNG, Taiwan (BRAIN) — Giant Group's second-quarter sales were NT$19.7 billion ($669.7 million) and its earnings per share were NT$4.06, a company record high.

Tagged Earnings/Financial Reports
Leatt Corp. continued its record-setting financial year.

CAPE TOWN, South Africa (BRAIN) — Leatt Corp. continued its record-setting financial year with second-quarter revenue increasing 32% year-over-year with net income spiking 815%.

Tagged Earnings/Financial Reports
REI Co-op will put its new corporate office up for sale.

SEATTLE (BRAIN) — REI Co-op will sell its newly completed corporate office in Bellevue, Washington, and intends to transition to regional locations while giving employees more remote working options.

The parent of Cannondale, GT, Schwinn, and other brands notched its fifth consecutive quarter of growth.

MONTRÉAL (BRAIN) — Dorel Sports, a division of Dorel Industries, is reporting sales of $285.6 million in its second fiscal quarter, up 18.5% from the same quarter last year.

Tagged Earnings/Financial Reports
Now it's up to the cities.

SAN FRANCISCO (BRAIN) — The 2020 bike boom is expanding into the micromobility sector with share-bike and share-scooter interest and ridership growing after cities reopened following COVID-19 restrictions.

Kids bikes from China will get a break from the trade war tariffs until Dec. 31, but some other products will see an extra 25% tariff again starting midnight Friday.

WASHINGTON (BRAIN) — The Trump administration has extended tariff exclusions it earlier granted to importers of most kids bikes and a few other bike products from China. The importers had been granted a break from a 25% tariff that was due to expire Friday night.

Tagged Tariffs

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