Industry News

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TOKYO (BRAIN) — Shimano Inc.’s stock price fell nearly 14% on Wednesday following the release of its first-quarter earnings report Tuesday. 

OLATHE, Kan. (BRAIN) — Garmin Ltd. reported record first-quarter revenue despite a 28% decrease in sales in its fitness division, which includes Garmin's cycling products.

Tagged Earnings/Financial Reports

NEW YORK (BRAIN) — Many of New York's tragic and highly visible fires have involved e-scooters and e-motorcycles. Does the distinction matter?

Tagged Electric bike

ATLANTA (BRAIN) — While several former employees of Wahoo Fitness have told BRAIN in recent days that they had been laid off, the company on Tuesday announced it had purchased RGT Cycling, a virtual cycling platform.

TOKYO (BRAIN) — Sales in Shimano's bike-product division were up 14% in the first quarter, compared to the same period last year. However the company said the pandemic-driven bike boom "showed signs of cooling down."

Tagged Earnings/Financial Reports

STOCKHOLM (BRAIN) — Thule Group's first-quarter net sales increased 20% despite continued pandemic hurdles — including global supply chain challenges, rising costs in raw materials and shipping, and employee absenteeism — and most recently the war in Europe.

Tagged Earnings/Financial Reports

NEW YORK (BRAIN) — Four fires sparked by lithium-ion batteries on lightweight electric vehicles Thursday prompted the FDNY to issue a statement afterward on its Twitter account about the dangers of improper charging and storing.

Corrects prior-year attendance figures.

MONTEREY, Calif. (BRAIN) — Attendance at this month's Sea Otter Classic was about 71,000 people over four days, nearly 10,000 more than last October's event, but shy of pre-pandemic figures for the event. The event also accounted for $71 million in economic impact to Monterey County.

Tagged Sea Otter Classic

BROOMFIELD, Colo. (BRAIN) — QBP opened a larger and more energy efficient distribution center here that increases inventory capacity by more than 30% compared with its previous facility.

Tagged Distributor news

MADRID (BRAIN) — Spanish e-bike brand Crow Bicycles secured its first investment round, which it said it will use to consolidate international growth and further develop its lightweight R&D capabilities.

Tagged Electric bike

SAN FRANCISCO (BRAIN) — Lyft announced Tuesday an agreement to acquire global bikeshare equipment and technology supplier PBSC Urban Solutions. The transaction is expected to close in the second quarter of this year.

Tagged Mergers, Acquisitions & Investments

SALT LAKE CITY (BRAIN) — A Utah woman is suing Rad Power Bikes because she said her bike arrived with a loose stem that caused a crash that injured her hands and wrist.

Tagged Lawsuits/legal / Electric bike
Pedego Stretch e-cargo bike.

DENVER (BRAIN) — The city has established a series of rebates for the purchase of an e-bike or e-cargo bike from participating bike shops that goes into effect on Friday as part of its Climate Action Rebate program.

Tagged Electric bike

LONG ISLAND, N.Y. (BRAIN) — Another of our industry’s elder statesmen has left us. Harry Manko died at 94 on April 13. 

SEATTLE (BRAIN) — Rad Power Bikes has laid off about 100 workers as it closes most of its mobile services business and shifts to expanding its stationary retail store locations. 

Tagged Electric bike

HARRISONBURG, Va. (BRAIN) — Lauf Cycling, an Iceland-based company making frames and forks for gravel riding, is opening a showroom and distribution center here. 

Benedikt Skulason, the founder and CEO of Lauf, attended a City Council meeting Tuesday night.

Pam Sayler.

BOULDER, Colo. (BRAIN) — For our April magazine edition, we asked our State of Retail panel members: What could suppliers do to make your life easier, and what are best-in-class suppliers doing that sets them apart?

Tagged From the Magazine
Nyle Nims.

MONTEREY, Calif. (BRAIN) — Emerging from two years of sequestered gatherings, Nyle Nims eagerly anticipated this year's Sea Otter Classic. The founder of Cycle Force Group has a lot to share with the industry.

Tagged Sea Otter Classic

MONTEREY, Calif. (BRAIN) — So what is "The State of Magura" following the industry's topsy-turvy past two years dealing with the pandemic, lockdowns, and supply-chain issues?

Tagged Sea Otter Classic
Woom bikes CEO Mathias Ihlenfeld.

MONTEREY, Calif. (BRAIN) — Woom bikes celebrates a return to in-person events this year after the COVID-19 outbreak with the March announcement it signed a three-year sponsorship agreement to be the official kids bike manufacturer of the Sea Otter Classic.

Tagged Sea Otter Classic

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