Industry News

STOCKHOLM (BRAIN) — Thule Group's first-quarter net sales were down 26.6% year-over-year, largely due to declining bike-product demand from retailers lowering inventory levels.

Tagged Earnings/Financial Reports

SEATTLE (BRAIN) — Rad Power Bikes laid off an undisclosed number of employees, its fourth round of workforce reductions in a year.

Tagged Electric bike

OLYMPIA, Wash. (BRAIN) — Washington state is poised to become the eighth state to approve rebates or incentives for purchasing e-bikes, an important tool to get more people out of cars and onto bicycles for climate, equity, and sustainability goals.

Tagged Electric bike

DAYTON, Ohio (BRAIN) — Longtime industry professional Bob Stomel died Tuesday. He was 59. Stomel's 45-year career began working in a local bike shop in Philadelphia and concluded with him as director of sales for Huffy Corp.

John Bastian.

MONTEREY, Calif. (BRAIN) — Speaking at the recently concluded Sea Otter Classic Summit, John Bastian is bullish on the long-term prospects for the global bicycle industry. But he's cautious on its short-term prospects as world events roil the marketplace.

Tagged Electric bike
CEO Julien R. Mininberg will retire in February 2024.

EL PASO, Texas (BRAIN) — Helen of Troy fourth-quarter net sales decreased 16.7% year-over-year. The parent company of Osprey and Hydro Flask also reported its yearly net sales declined 6.8%.

Tagged Earnings/Financial Reports

CHANHASSEN, Minn. (BRAIN) — Life Time Group Holdings, Inc., the owner of the Sea Otter Classic and other cycling events, saw a 30% revenue increase, year-over-year, in the first quarter. 

Tagged Earnings/Financial Reports

STOCKHOLM (BRAIN) — MIPS' net sales decreased 35% year-over-year in the first quarter as bike helmet demand continued to wane.

Tagged Earnings/Financial Reports

SEATTLE (BRAIN) — Rad Power Bikes will work with Redwood Materials to recycle the brand's end-of-life lithium-ion batteries.

Tagged Electric bike
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

NEW YORK (BRAIN) — N.Y. Sens. Chuck Schumer and Kirsten Gillibrand said during a news conference Sunday that they support federal legislation to regulate lithium-ion battery safety standards in the wake of increasing fires caused by the devices.

Tagged Electric bike
The Limar Tonale.

MONTEREY, Calif. (BRAIN) — Italy's Limar is now selling its helmets and eyewear to U.S. retailers and consumers from an office in Ketchum, Idaho. The brand has certified its complete helmet line to the U.S. CPSC standard and is looking to establish its mid- to upper-tier offerings in the U.S. market. 

Tagged Sea Otter Classic

MONTEREY, Calif. (BRAIN) — Saris, which is under new ownership since it was purchased from a Wisconsin state receivership program last year, was showing off several new rack products and its stationary trainers at the Sea Otter Classic this week.

Tagged Sea Otter Classic
Sea Otter 2023 photo by Robert DeBerry Photography.

CARBONDALE, Colo. (BRAIN) — Adam Miller had just returned from the Sedona Mountain Bike Festival in early March when the Revel Bikes owner and CEO reflected on the visit. "It was really enlightening," Miller said. "There were a lot of industry people there this year. It was cool how positive people were: 'Wow, Revel is making these great moves, and it's great to see you growing, even though things are so challenging.'"

Tagged From the Magazine

MONTEREY, Calif. (BRAIN) — The U.S. is the largest market for U.K.-based Quoc, the maker of road, gravel and mountain bike shoes. But to date, the shoes have only been available via consumer direct sales, shipped from the U.K.

Tagged Sea Otter Classic
Savilia Blunk

MONTEREY, Calif. (BRAIN) — Decathlon, said to be the world's largest sporting goods retailer and a major global supplier of bicycles, is now offering its bike lines to U.S. IBDs for the first time, showing them here in a large display at the Sea Otter Classic.

Tagged Sea Otter Classic

MONTEREY, Calif. (BRAIN) — At the Sea Otter Classic's first Industry Day on Thursday, PIERER New Mobility North America Inc. was showing its Husqvarna and GASGAS e-bikes to U.S. bike shops for the first time.

Tagged Electric bike / Sea Otter Classic
Photo courtesy of Boulder Valley Velodrome/OnSight Public Affairs.

ERIE, Colo. (BRAIN) — The Boulder Valley Velodrome will be restored and reopened as a cyclist training ground and location for community events after BVV Holdings LLC agreed to purchase it.

Olive Manufacturing Group facility.

MONTEREY, Calif. (BRAIN) — Boyd Cycling will begin on-shoring its aluminum rims in South Carolina, with the wheel brand saying this increased capacity and automation will enable it to become the largest alloy rim manufacturing facility in the U.S.

Tagged Sea Otter Classic

NEWARK, N.J. (BRAIN) — A criminal sentencing hearing has been delayed again for cycling investor Samuel J. Mancini, who pleaded guilty to one count of securities fraud last year.

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