Industry News

LONDON (BRAIN) — Rapha is closing its custom apparel program after three years and indicated that several positions will be terminated, according to a report on CyclingTips.com.

George Parry

FORT COLLINS, Colo. (BRAIN) — Industry veteran George Parry died at age 58 on Aug. 2. Parry had been Niner Bikes' engineering and production manager since 2010 but had worked in the bike industry since 1987 when he was hired as a mechanic at Fort Collins' Lee's Cyclery.

AMSTERDAM (BRAIN) — E-bike brand VanMoof produced its first U.S. television ad to demonstrate the joy and ease of commuting in congested big cities.

Tagged Electric bike
The company's bicycle-product division just recorded its sixth consecutive record sales quarter.
A slide from Fox's Q2 investor presentation.

SCOTTS VALLEY, Calif. (BRAIN) — Fox Factory's sales in its Speciality Sports Group, its bicycle-product division, were up 64% in the second fiscal quarter and 73% for the first half, compared to the same periods last year.

Tagged Supply chain / Mergers, Acquisitions & Investments / Earnings/Financial Reports
USAC press photo from the 2020 BMX National Championships.

COLORADO SPRINGS, Colo. (BRAIN) — USA Cycling reports race participation in national championship events mirrors the current cycling boom with mountain bike nationals participation up nearly 11% over 2019, the last full-event year before the COVID-19 pandemic.

ASHEVILLE, N.C. (BRAIN) — Kitzuma Cycling Logistics announced the closing of a first round of funding with the goal of expanding its door-to-door bike shipping business.

Tagged Mergers, Acquisitions & Investments
E-bikes now 30% of its sales dollars.

TAICHUNG, Taiwan (BRAIN) — Giant Group set a new second-quarter record for net sales and earnings per share as global demand for its bikes and e-bikes remained strong. Sales of e-bikes, both under its own brand and for its OE customers, accounted for 30% of Giant's sales in the first half.

Tagged Earnings/Financial Reports
Company said demand for high-end Cannondales and e-bikes remains strong.

MONTRÉAL (BRAIN) — Dorel Sports — the Dorel Industries division that includes its bicycle businesses — recorded an 11% sales increase in its second fiscal quarter this year, compared to the same quarter last year.

Tagged Earnings/Financial Reports

SAN MATEO, Calif. (BRAIN) — GoPro Inc. second-quarter revenue increased 86% year-over-year led by a 48% jump in online revenue.

Tagged Earnings/Financial Reports

FRANKFURT (BRAIN) — Ardian Expansion will become investors in the direct-to-consumer mountain bike brand YT Industries. Financial terms were not disclosed.

PITTSBURGH (BRAIN) — By 2025, Dick's Sporting Goods wants to increase BIPOC representation in leadership by 30% and increase women store leadership by 40%, according to its annual report on DEI initiatives, sustainability, and community outreach.

Tagged DEI and Sustainability
Frank Yohannan to remain as its director.

Life Time is best known in the cycling industry for its ownership of the Leadville 100, UNBOUND Gravel, Crusher in the Tushar and the Chequamegon MTB Festival among other events.

Tagged Mergers, Acquisitions & Investments / Consumer Expos and Rides / Sea Otter Classic

DAYTON, Ohio (BRAIN) — Organizers of the 2021 Recumbent Cycle-Con have postponed the event, which had been scheduled for Oct. 8-10, because of COVID-19 concerns. The 2020 event was also postponed.

Tagged Coronavirus

ANOKA, Minn. (BRAIN) — Vista Outdoor's Action Sports division, which includes the bike accessory brands Giro, Bell and Blackburn, saw a 26% increase in revenues in the most recent quarter. The division's sales were $92.1 million, up from $72.9 million in the same period last year. 

Tagged Earnings/Financial Reports
Time employees at the opening on Friday.

COIMBRA, Portugal (BRAIN) — SRAM officially opened a new TIME pedal factory here on Friday, with an inauguration celebration presided over by the mayor. The city said the factory will produce 200,000 pairs of pedals per year and create 25 new jobs by next November.

WESTPORT, Conn. (BRAIN) — BOA Technology sales were up 58% in the first half of the year over the same period last year, according to quarterly reports from Compass Diversified, which acquired the company last year for $454 million.

Tagged Earnings/Financial Reports

WATERLOO, Wis. (BRAIN) — Following an emissions audit in the past year, Trek Bicycle announced Wednesday operational areas it will address to reduce its carbon footprint. WAP Sustainability Consulting conducted the audit to measure Trek's environmental impact.

Tagged DEI and Sustainability

OLATHE, Kan. (BRAIN) — With double-digit growth in all categories, Garmin Ltd. reported second-quarter total revenue increased 53% year-over-year.

Tagged Earnings/Financial Reports
The Denver-based fund planned to acquire De Rosa, De Marchi and Limar.

DENVER (BRAIN) — Samuel J. Mancini, the managing director of a Denver-based fund that had plans to invest in cycling companies, was arrested in Denver last week and faces federal securities fraud, wire fraud and money laundering charges.

Company makes little mention of supply challenges in its half-year report; raises full-year sales and income forecasts.

OSAKA, Japan (BRAIN) — Shimano only briefly mentioned the global bicycle part shortages in a typically terse first-half financial results announcement, which reported that sales in its bicycle product division were up 73.4% in the first half of its fiscal year, compared to the same period in 2020.

Tagged Supply chain / Coronavirus / Earnings/Financial Reports

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