News
On Thursday Rad Power announced that with its latest $154 million financing round, it has brought in a total of $329 million in investments since its inception. The company claims that makes it the best-funded e-bike brand, at least in the direct-to-consumer market. While strictly speaking that's likely true, there are some other giant players in the e-bike space, with the power to further disrupt the market for regular and electric bikes, if they choose.
SEATTLE (BRAIN) — Existing investors are pumping another $154 million into Rad Power Bikes, following a $150 million investment announced in February.
STOCKHOLM (BRAIN) — Bike helmets continue to lead MIPS' revenue surge during the bike boom with third-quarter net sales increasing 81% year-over-year.
NORTHVALE, N.J. (BRAIN) — Prosecutors say a suspect is in custody and a homicide investigation is underway after a body was found at the Jamis/G. Joannou Cycle headquarters here.
OLATHE, Kan. (BRAIN) — Garmin Ltd. revenue increased 7% year-over-year, aided by a slight jump in fitness sales driven by cycling and wearable products.
Shimano said it increased production during the period and that its new 12-speed Dura-Ace and Ultegra groups "were enormously well-received by customers."
WILTON, Conn. (BRAIN) — Dorel Sports General Manager Nick Hage said plans to bring Cannondale assembly back to the U.S. actually began a couple of years ago, and with supply-chain constraints currently hampering the industry, the timing of the announcement couldn't be better.
RINCON, Ga. (BRAIN) — In a move to ease supply chain constraints, Cycling Sports Group is opening a bike assembly facility in this community outside Savannah.
BATON ROUGE, La. (BRAIN) — Baseball and softball equipment manufacturer Marucci Sports announced Monday it has acquired Lizard Skins. Terms were not disclosed.
BOULDER, Colo. (BRAIN) — The driver who struck industry communications professional Andrew Bernstein in 2019 pleaded guilty to reduced charges on Friday and was sentenced to two years in prison.
NEWBURY PARK, Calif. (BRAIN) — Authorized Giant Bicycle dealers were issued a stop sale notice by email on Friday involving four models on which the adjustable stems can come loose. Giant is in the process of notifying the U.S. Consumer Product Safety Commission.
OSAKA, Japan (BRAIN) — Shimano says a website that appears to be offering clearance Shimano bike and fishing gearing is not legitimate.
The company said consumers should beware of shimano-clearance (dot) store.
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