Industry News

The Arizona woman lost an eye and had other injuries she blames on an illegal brake-lever setup.
Screen shot from a 2018 Phantom Bikes Youtube video, since removed.

SAN DIEGO (BRAIN) — An Arizona woman is suing San Diego e-bike company Phantom Bikes and Costco Wholesale for $6 million. Carol Penkert's suit claims her bike came set up so the right brake lever operated the front brake, which caused her to flip over the handlebar and sustain serious injuries. Such a setup is banned by the CPSC.

Tagged Lawsuits/legal

TAIPEI, Taiwan (BRAIN) — Giant Group says its full-year 2021 sales were 81.8 billion New Taiwan dollars ($2.85 billion), up 17% from 2020.

Tagged Electric bike / Earnings/Financial Reports

DANA POINT, Calif. BRAIN) — With consumer demand waning, inflation rising and stimulus money drying up, Wednesday's announcement that many Chinese bikes will become exempt from a 25% tariff was well-timed.

Tagged Tariffs

DENVER (BRAIN) — After a contentious move to Denver five years ago, Emerald Expositions says its Outdoor Retailer trade show is going back to Utah.

Tagged Outdoor Retailer shows

NEWBURY PARK, Calif. (BRAIN) — After initially being unavailable to comment to BRAIN, Giant Group and Orbea each now say they have halted business in Russia due to the country's invasion of Ukraine.

(BRAIN) — European motorcycle equipment manufacturer 2Ride Group acquired California-based bike and moto protective gear brand Troy Lee Designs from SBJ Captial. 2Ride Group's majority owner, Eurazeo, is France's largest private equity fund.

Tagged Mergers, Acquisitions & Investments
Ukraine Relief T-Shirt.

BEVERLY, Mass. (BRAIN) — Parlee Cycles has sold out of T-shirts created to promote solidarity with Ukraine and to aid in humanitarian relief efforts in the war-torn country.

(BRAIN) — Two European cycling industry associations started a campaign to reduce plastic and eliminate unnecessary packaging.

Tagged DEI and Sustainability
Esker Cycles has raised $356,000 so far.

COLUMBIA FALLS, Mont. (BRAIN) — Moving away from the Kickstarter era, many bike startups are running campaigns that award supporters with a stake in their company, rather than just a discounted product.

TAIPEI, Taiwan (BRAIN) — More than 13,500 people attended the four-day in-person TAIPEI Cycle trade show for the Asian industry that ended Saturday.

Tagged Taipei Cycle Show
Kona team rider Caleb Holonko.

SEATTLE (BRAIN) — Kona Bicycles, cheerfully independent for a third of a century, is now part of an Ohio-based outdoor sports group, Kent Outdoors. For about a year, Kent, a long time family-run business, has been in the hands of Boston-based private equity firm, Seawall Capital.

Tagged Mergers, Acquisitions & Investments

MILAN (BRAIN) — PIrelli announced Thursday that it would halt its operations in Russia except for security tasks.

UPDATE: Pirelli halts operations in Russia; Orbea stopped operations the day after the invasion.

MILAN, Italy (BRAIN) — Most bike suppliers tell BRAIN they have stopped doing business in Russia following the country’s invasion of Ukraine. The decision to end business there is due to the difficulty of operating under banking sanctions and the voluntary decision by some shipping companies to stop delivering in Russia. Or a happy coincidence of both.

Scott Maguire

MORGAN HILL, Calif. (BRAIN) — Specialized founder Mike Sinyard has appointed former Dyson executive Scott Maguire as CEO of the company; Sinyard steps into a new role as "Founder, Chairman and Chief Rider Advocate" 48 years after founding the company.

AUSTIN, Texas (BRAIN) — Woom bikes will be the official kids bike manufacturer of the Sea Otter Classic after it signed a three-year sponsorship agreement with Life Time.

Tagged Sea Otter Classic

OLDENZAAL, the Netherlands (BRAIN) — Oregon-based apparel recycler The Renewal Workshop has been acquired by the global textile supply chain provider Bleckmann, the companies announced Wednesday.

Tagged Mergers, Acquisitions & Investments

SEATTLE (BRAIN) — PNW Components products valued in excess of $500,000 were stolen from a delivery truck Monday night.

A shipping broker reported the theft that occurred in San Bruno, California, while the truck was on the way to PNW Components' Sacramento warehouse.

CUMBRIA, England (BRAIN) — Lyon Cycle announced a United Kingdom distribution agreement with Industry Nine. The brand will be led in the UK by Lyon Cycle Market Manager Jordan Lunn.

Tagged Distributor news

PARK CITY, Utah (BRAIN) — SRAM has committed to a multi-year agreement with the organizers of The Big Gear Show, which will hold its second event this August here.

Tagged The Big Gear Show

WELLINGBOROUGH, United Kingdom (BRAIN) — Storskogen UK has acquired the majority of shares of cycling parts and accessories distributor Extra UK.

Tagged Mergers, Acquisitions & Investments

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