Industry News

Garmin reported a 9% year-over-year revenue decrease in the second quarter.

OLATHE, Kan. (BRAIN) — Garmin Ltd. reported a 9% year-over-year revenue decrease in the second quarter, but gains in the fitness sector helped mitigate the losses.

Tagged Earnings/Financial Reports
Shimano will celebrate its 100th anniversary in 2021.

OSAKA, Japan (BRAIN) — Shimano reported Tuesday that its first-half sales in its bicycle products division were down 14.6% from the same period last year, to 123 billion yen ($1.2 billion); operating income in the segment was down 19.7%.

Tagged Earnings/Financial Reports

DENVER (BRAIN) — A Colorado business is offering short term rentals of fully outfitted overlanding vehicles for visitors and locals who want to go offroad camping with all the toys, including bikes.

HEERENVEEN, Netherlands (BRAIN) — Accell Group saw sales growth of 53.1% in June, helping the Dutch bike company record a first-half sales increase of 4% despite European retail shutdowns in March and April.

Tagged Earnings/Financial Reports

MONTRÉAL (BRAIN) — Race Inc., a brand that dates to the early days of BMX, has a new owner who plans to return it to prominence in the sport.

Tagged Mergers & Acquisitions
Randolph in a company promotional photo.

FRAMINGHAM, Mass. (BRAIN) — In the middle of a national discussion about the role of police departments in systemic racism, Brandale Randolph, a Black entrepreneur and activist, is raising money to manufacture high-tech police bikes in the United States.

Tagged DEI and Sustainability
MIPS' net sales dipped 20% in the second quarter.

STOCKHOLM (BRAIN) — MIPS' net sales dipped 20% in the second quarter with the losses blamed on the COVID-19 pandemic and subsequent stay-at-home orders.

Tagged Earnings/Financial Reports
The Great American Outdoors Act now goes before President Trump.

WASHINGTON (BRAIN) — The House of Representatives on Wednesday passed the Great American Outdoors Act that will provide millions of dollars annually for trail maintenance and creation on federal lands.

Tagged Advocacy/Non-profits
E-bike sales will extend the 2020 bike boom, the industry says.
Photo courtesy of Shimano Steps.

SANTA CRUZ, Calif. (BRAIN) — As the industry debates whether the pandemic-driven bike boom will end with a bust as supply dwindles, or reset as the new normal for years, consider one key difference between this boom and the early 1970s edition: This time we have e-bikes.

Tagged Coronavirus / Electric bike

GRENOBLE, France (BRAIN) — The French investment group Bourrelier, the former owner of the Bricorama home improvement retail chain, appears to be set to take over Mavic, which is in receivership.

Thule Group sales dropped 11.6% in the second quarter.

STOCKHOLM (BRAIN) — Thule Group sales dropped another 11.6% in the second quarter as the COVID-19 pandemic continued to hurt the sport and cargo carrier manufacturer.

Tagged Earnings/Financial Reports
The Badger is still in the hunt. French administrators will decide on the winning bid this month.
Mavic continues to share its Annecy, France, facility with Salomon.

GRENOBLE, France (BRAIN) — Fox Factory has removed itself from the bidding to acquire Mavic SAS, which is in receivership in France. However, about 13 other groups, including several with ties to the bike industry, have expressed interest in the company.

Need a Pandemic Project? Paul Brodie did.

VANCOUVER, British Columbia (BRAIN) — If you have some time on your hands while sheltering in place (and perhaps a small machine shop and a supply of steel tubing in your shelter), this might be the time to brush up on your framebuilding skills.

OAK RIDGE, Tenn. (BRAIN) — LeMond Bicycles LLC recently raised a bit over $2 million in a private placement investment, possibly bringing the company closer to launching a bike line using technology developed by Greg LeMond's other business, LeMond Carbon.

The Great American Outdoors Act goes before the House next week.

WASHINGTON (BRAIN) — The way Dave Wiens sees it, the Great American Outdoors Act could be the last chance to secure more trail funding for years to come.

Tagged Advocacy/Non-profits

BOULDER, Colo. (BRAIN) — Cateye America is ending dealer-direct sales and focusing on sales through its U.S. distributors, JBI Importers and QBP.

Tagged Distributor news
An image from the Change.org petition page.

GOLDEN, Colo. (BRAIN) — Yeti Cycles has decided to stop using the word 'tribe' to refer to owner community. The company said it learned that the term can be offensive.

Campagne, right, with Vriends.

BREMBATE, Italy (BRAIN) — The owners of Vittoria Group, including founder and president Rudie Campagne, have sold the tire maker to Wise Equity, an Italian group.  

Tagged Mergers & Acquisitions
A House subcommittee hears testimony from business owners about ways to improve supply chain resiliency during the COVID-19 pandemic.

WASHINGTON (BRAIN) — As the lone representative of not only the cycling industry but the entire outdoor industry, David Billstrom admitted to feeling some pressure addressing Congress on July 2.

Tagged Coronavirus

BLOOMINGTON, Minn. (BRAIN) — Quality Bicycle Products is now selling its house brand Teravail tires direct to consumers via the brand's website, and sharing some revenue from each sale with nearby dealers who are enrolled in its Dealer Choice program for Teravail.

Pages

Subscribe to RSS - Industry News