News
VERONA, Italy (BRAIN) — An Italian investment group, UTurn Investments, has made an investment in component and bike brand 3T. René Wiertz and Gérard Vroomen will remain shareholders and managers.
The company said it has sales of 20 million euros ($21.2 million) per year and an EBITA of 5 million euros.
BREMBRATE, Italy (BRAIN) — A private equity investment company announced it will acquire a majority stake in Vittoria. The transaction is expected to close early next year.
Here's what to expect during the long, dark winter ahead.
WESTMINSTER, Md. (BRAIN) — White's Bicycles owner Bradley White was killed when his shop caught fire early Monday morning. He was 55.
KINGSFORD, Mich. (BRAIN) — Steven Pringle, the owner and operator of Build a Bicycle and Bicycle Therapy in Michigan's Upper Peninsula, died Nov. 23 in an auto accident in Florida. Pringle was driving to deliver free bikes to kids who were displaced by Hurricane Ian.
SEATTLE (BRAIN) — Rad Power Bikes had another round of layoffs following two previous cuts this year. The direct-to-consumer brand did not say how many employees were let go.
Despite the geopolitical tensions between America and China, and Taiwan and China, the U.S. bicycle business is finding it difficult to extract itself from China.
KORBACH, Germany (BRAIN) — Continental Tires teamed with a digital tracking platform to develop a technology to verify the origin of responsibly sourced natural rubber at every stage of the supply chain leading to the customer.
SALT LAKE CITY, Utah (BRAIN) — Vitus, the bike brand owned by Signa Sports United, is now available directly to U.S. consumers via a dedicated website and a Utah distribution center.
MURRIETA, Calif. (BRAIN) — Pierer E-Bikes North America is tweaking its name and announced it is now importing a third e-bike brand — GASGAS — to the U.S. market.
The new name for the North American operations of Austria's Pierer Mobility AG is: PIERER New Mobility North America Inc.
SAN FRANCISCO (BRAIN) — Cycling app maker Strava has let go of about 15% of its staff, multiple current and former employees have confirmed to BRAIN. The company has not made a public report or responded to BRAIN requests for comment.
SAN FRANCISCO (BRAIN) — Zwift founder Eric Min announced Friday that he will become co-CEO, sharing duties with former Amazon executive Kurt Beidler. Min, who has been CEO since Zwift's founding in 2014, said Beidler's hire came after "a long search." Min will also remain chairman of Zwift's board of directors.
WILMINGTON, Del. (BRAIN) — Wahoo Fitness has dropped a patent infringement lawsuit it had filed in October against Australian trainer brand JetBlack, but Wahoo continues to sue Zwift over the same issue.
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