Industry News
PHILADELPHIA (BRAIN) — A settlement was reached Friday in State Farm Insurance Company's civil action lawsuit against Rad Power Bikes on behalf of an insured homeowner client who suffered property damage after his e-bike caught fire.
OLATHE, Kan. (BRAIN) — Garmin Ltd. posted record revenue for 2023, while fourth-quarter revenue increased 13% year-over-year boosted by the Fitness segment.
ALISO VIEJO, Calif. (BRAIN) — GT Bicycles is amid a transformation back to its IBD and off-road roots, the company says, and longtime industry pro Jason Schiers has had a lot to say about it.
UTRECHT, Netherlands (BRAIN) — The Dutch Food and Consumer Product Safety Authority told the Accell Group cargo brand Babboe to stop selling its bikes for not investigating a series of reported broken frames as required by law.
NEWARK, N.J. (BRAIN) — Samuel Mancini, who pleaded guilty nearly two years ago to securities fraud in connection to a failed plan to buy up several legacy Italian cycling brands, is now asking the court to schedule his sentencing hearing.
WASHINGTON (BRAIN) — A public comment period ends next Wednesday, Feb. 21, for industry members and others who want to tell the U.S. Trade Representative's Office how they feel about extending an exclusion from a 25% tariff on Chinese-made bicycle products.
KENT, Wash. (BRAIN) — Tim Rutledge, a longtime industry product manager and legendary cyclocross and road racer, died Monday after a battle with cancer. Friends and family confirmed his passing to BRAIN on Tuesday. He was 65.
TOKYO (BRAIN) — Shimano announced full-year 2023 sales in its bicycle division of 364,679 million yen ($2.42 billion) on Tuesday, a 29.5% decrease from the year before. Operating income in the division was down 55%, to 65,251 million yen.
BOULDER, Colo. (BRAIN) — PeopleForBikes will shut down the Ride Spot mobile app after nearly five years on Feb. 29 to devote resources to its infrastructure project and advocating for better policy.
STOCKHOLM (BRAIN) — Thule Group's year-over-year net sales for the fourth quarter decreased 5% while yearly sales were down 10% compared to 2022 as bike-related product sales continued to decline.
STOCKHOLM (BRAIN) — Despite some bike helmet sales growth in the Sport sub-category, MIPS' fourth-quarter net sales decreased 15% year-over-year while yearly net sales were down 37%.
SAN MATEO, Calif. (BRAIN) — GoPro Inc. fourth-quarter revenue declined 8% year-over-year as did its 2023 revenue despite camera sell-through increases in the second half of the year.
BRUSSELS (BRAIN) — Belgium e-bike brand Cowboy has started an at-home mobile service to support its European riders.
OAK PARK, Ill. (BRAIN) — Some air travelers who hope to bring a bike on their trip are running into road blocks with Southwest Airlines. The wording in the carrier's bike policy is confusing and travelers say it is enforced inconsistently.
SOUTH KINGSTOWN, R.I. (BRAIN) — A man is suing Shimano North America and Trek Bicycle for $2 million in damages after his bike's Shimano V-brake lever impaled his thigh during a fall on a bike path.
ANOKA, Minn. (BRAIN) — Revelyst, the division of Vista Outdoor that contains its bicycle-related brands, is closing offices in four communities as it consolidates its related brands into three groups.
ALBANY, N.Y. (BRAIN) — A month after saying she would propose a state-wide ban on the sale of uncertified lithium-ion batteries, New York Gov.
HELSINKI (BRAIN) — Enve Composites owner Amer Sports did not meet pricing expectations for its initial public offering over analysts' concerns with its Chinese parent company Anta Sports Products.
ANOKA, Minn. (BRAIN) — Sales in Vista Outdoor's Revelyst business unit — formerly its Outdoor Products segment — decreased 10% in the company's fiscal third quarter, which ended Dec. 24. Revelyst contains bike industry brands Giro, Bell, Fox Racing, QuietKat and others.
HEERENVEEN, Netherlands (BRAIN) — Accell Group plans to combine its two manufacturing facilities here and move a portion of production to other European sites, leading to a workforce reduction of 100 to 150 jobs.
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