Industry News

Name for the Outdoor Products business will be announced in "the coming weeks."

LEWISTON, Idaho (BRAIN) — After Vista Outdoor splits into two companies later this year, the ammunition and shooting sports business will be called The Kinetic Group.

CAPE TOWN, South Africa (BRAIN) — Leatt Corporation's second-quarter revenue decreased 31% year-over-year despite mountain bike and moto helmet sales increasing 48% compared with the same time last year.

Tagged Earnings/Financial Reports

TAIPEI (BRAIN) — In the U.S., the concept of Environmental, Social and Governance reports has set off an economic/cultural/political "debate," as so many things do. But in Taiwan, ESG reports offer some useful data.

First-half imports of adult bikes were down steeply in units and also in dollar volume.

WASHINGTON (BRAIN) — Bike imports were down steeply in the first half of the year compared to the year prior, even as the average import value of bikes increased significantly.

TAIPEI, Taiwan (BRAIN) — Giant Group said the China market's interest in performance cycling drove a 70% sales increase in the half there. However, sales for Giant-branded products in Europe were down 12% in the half, and in the U.S., they were down 44%, the company reported.

Tagged Earnings/Financial Reports

(BRAIN) — Citing the "ongoing economic challenges" within the bike industry," The World Federation of the Sporting Goods Industry has postponed its World Cycling Forum 2023 to a later date. The Forum was scheduled for next month at the IAA Mobility conference in Munich, Germany.

OLATHE, Kan. (BRAIN) — Led by the Fitness segment's double-digit revenue growth, Garmin Ltd. second-quarter revenue increased 6% year-over-year.

Tagged Earnings/Financial Reports

(BRAIN) — Sales in Fox Factory's Speciality Sports Group, comprised of its bicycle-related brands Fox, Marzocchi, RaceFace and Easton, were down 41% in the company's second quarter. The company said the decrease was "driven by higher levels of inventory across various channels."

Tagged Earnings/Financial Reports

SAN MATEO, Calif. (BRAIN) — GoPro Inc. revenue declined 3.9% year-over-year despitethe company's return to pre-pandemic pricing in the second quarter and retail-channel revenue growth of 6%.

Tagged Earnings/Financial Reports

BETHESDA, Maryland (BRAIN) — Mike Fritz left last week's Consumer Product Safety Commission public hearing on lithium-ion battery safety confident he and other industry representatives convinced the agency mandatory regulations are needed.

Tagged Electric bike

NEW YORK (BRAIN) — E-mobility rental and sales company micromobility.com submitted a non-binding bid to acquire e-bike brand VanMoof, which was declared bankrupt by the court of Amsterdam on July 17.

Tagged Electric bike / Mergers, Acquisitions & Investments

VANCOUVER, British Columbia (BRAIN) — Envo Drive Systems, the maker of various electric vehicles including e-bikes, has acquired VeloMetro Mobility, a fellow Vancouver-based company, which went bankrupt last winter.

Tagged Electric bike / Mergers, Acquisitions & Investments
The Reid Ladies Classic is among the bikes being liquidated in Canada.

TORONTO (BRAIN) — Auctionmaxx, a Canadian liquidation specialist, has agreed with a court-appointed appointed receiver to acquire about 2,260 Reid bikes from Reid’s Canadian distributor, Vellend-Tech Inc. Velland-Tech entered receivership this spring after failing to make payments on a bank credit line.

CHANHASSEN, Minn. (BRAIN) — Life Time Group Holdings, the parent of bike events including the Leadville 100, the Sea Otter Classic and Unbound Gravel, reports that revenue in its "other" category was up 25.7% in the first half of the year.

Tagged Earnings/Financial Reports / Sea Otter Classic
FDNY photo from a battery-charging business it shut down this year.

BETHESDA, Md. (BRAIN) — Mandatory federal regulations will be necessary to curb the growing fire danger from lithium-ion batteries, industry representatives said at a Consumer Product Safety Commission public hearing Thursday.

Tagged Electric bike

ANOKA, Minn. (BRAIN) — In its most recent quarter, Vista Outdoor recorded an 8% sales increase in its Outdoor Products business unit, which encompasses Bell, Giro, Fox Racing, Blackburn, QuietKat, and CamelBak, among other brands. Much of the increase, however, was due to acquisitions — including Fox Racing.

Tagged Earnings/Financial Reports
The meeting is open to the public via videoconferencing.

WASHINGTON (BRAIN) — Representatives from various organizations — including the bicycle industry, independent standards groups, and consumer safety advocates — will meet Thursday at 10 a.m. EDT to discuss lithium-ion battery safety at a Consumer Product Safety Commission forum.

Tagged Electric bike

SAN FRANCISCO (BRAIN) — Lyft is listening to purchase and investor offers for its e-bike and e-scooter bikeshare division, according to a blog post on its website on Monday.

Tagged Electric bike
Now it's up to the CPSC to decide — and if any other bike regs should be updated.

WASHINGTON (BRAIN) — A 60-day comment period ended Monday, giving interested people an opportunity to weigh in on whether federal bicycle safety requirements – in particular a requirement that sidewalk bikes have coaster brakes —  are outdated.

Tagged Electric bike

OSAKA, Japan (BRAIN) — Shimano says interest in bicycles globally continues as a long-term trend, but that macro-economic conditions and industry inventory levels contributed to a 17.7% decline in sales in its bike business in the second quarter this year, compared to the same period last year.

Tagged Earnings/Financial Reports

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