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Company forecasts 21% increase in 2021 as it celebrates its centennial.
Shimano celebrates its 100th anniversary this year.

TOKYO (BRAIN) — After a rocky start, Shimano managed a 2.7% increase in revenues last year in its bike division, and an 18% increase in operating income in its bike business.

Tagged Coronavirus / Earnings/Financial Reports

The international digital marketplace for cycling products has completed its initial public offering and will now be listed on the Australian Securities Exchange. The company raised AU$20 million ($15.3 million) in the IPO.

(BRAIN) — A C-student in whatever class comes before Economics 101 could predict price increases in the industry in 2020, given the imbalance between supply and demand. And 2021 will likely see retail prices go up another 10-25%, experts say.

Tagged Supply chain / Broken Chain / Coronavirus / Tariffs

TAIPEI, Taiwan (BRAIN) — Organizers of the Taipei Cycle show have postponed the 2021 edition, which had been scheduled for March 3-6. They did not announce new dates for the show.

Photo by London Fire Brigade.

LONDON (BRAIN) — A fire at Specialized Bicycles' headquarters had a "devastating effect," the company says.

MONTRÉAL (BRAIN) — The group that hopes to buy Dorel Industries' public shares and take the business private has raised its stock offer by about 10%, two weeks before shareholders vote on whether to accept the offer.

BIG FLATS, N.Y. (BRAIN) — Stan's NoTubes has broadened its expansion in Europe, Scandinavia, and the United Arab Emirates with four new distributors.

HONG KONG (BRAIN) — Covation Holdings Limited plans to expand into the Asia Pacific market with a new Hong Kong sales hub for its bicycle brands, which include Huffy, Royce Union, Niner, Batch, Buzz E-Bikes, and Vaast. The office will also represent Allite, the company's materials business.

The Canyon Future Mobility Project concept vehicle.

BRUSSELS (BRAIN) — Groupe Bruxelles Lambert, a Belgium-based investment group, has agreed to acquire a majority share in Canyon Bicycles. GBL was joined by Tony Fadell, a former senior vice president of Apple's iPod division and co-developer of the iPod. Roman Arnold remains the largest individual shareholder in Canyon, with 40% of its shares.

A worker builds a Saris trainer at its Wisconsin factory. Saris photo.

LONDON (BRAIN) — Besides the 25% tariff the European Union imposed on U.S. bike frame imports last month, which BRAIN wrote about last week, stationary bike trainers also got hit with the duty.

Tagged Tariffs
BFI founder and CEO Mark de Kwant.

KOPŘIVNICE, Czech Republic (BRAIN) — After more than a year of negotiations the Czech Republic bike manufacturer Bike Fun International s.r.o. has changed ownership.

Allied did a special bike for Rapha RCC's international members.

BENTONVILLE, Ark. (BRAIN) — Last year the bike industry escaped collateral damage from the long-running dispute between the European Union and the United States over commercial aircraft industry subsidies.

Tagged Tariffs
(l to r): Celestino Vercelli, Eddy Merckx, Edoardo Vercelli.

BIELLA, Italy (BRAIN) — Celestino Vercelli, a former pro cyclist and founder of Vittoria Cycling Shoes, has passed away at age 74, the company announced.

TAIPEI, Taiwan (BRAIN) — Merida, one of the largest bike makers in Taiwan and a significant investor in Specialized, posted third-quarter revenues of NT$7.3 billion ($256 million), down slightly from the NT$7.8 billion the manufacturer generated in the same quarter last year.

Tagged Earnings/Financial Reports

HAMBURG, Germany (BRAIN) — Trek Bicycle shut down its European Electra headquarters here on Tuesday and consolidated its functions at the Trek office in Switzerland.

HEERENVEEN, Netherlands (BRAIN) — Accell Group N.V. said its sales were up 38% between July and October compared to the same period last year. The company has revised up its forecast, now saying its full-year earnings before interest and taxes will exceed last year's EBIT.

Tagged Earnings/Financial Reports

MONTRÉAL (BRAIN) — Raymond Lanctôt LTD has signed a multi‐year agreement to distribute Mavic products in Canada.

KOBLENZ, Germany (BRAIN) — KKR & Co. and Carlyle Group are among the private equity firms looking at Canyon Bicycles, according to a Bloomberg report citing sources who asked to remain unidentified.

FRIEDRICHSHAFEN, Germany (BRAIN) — Organizers of the Eurobike trade show which had planned a down-sized event for Thanksgiving week this year, announced early Friday that the event will be canceled due to a coronavirus outbreak in the region.

Tagged Coronavirus / Eurobike / Tradeshows and conferences

GIRONA, Spain (BRAIN) —The Sea Otter Europe cycling festival has been canceled, but organizers said that some of the event's races will be held under stringent COVID-19 measures. The event was to have been held Sept. 25-27.

Tagged Sea Otter Classic

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