Industry News
BERLIN (BRAIN) — Former Accell Group CEO Anthonie "Ton" Anbeek will join the board of Signa Sports United next April.
ANOKA, Minn. (BRAIN) — Vista Outdoor has appointed former Hasbro COO Eric Nyman as CEO of its Outdoor Products segment, a business unit that includes the cycling brands Bell, Giro, Fox Racing and QuietKat, as well as CamelBak.
STOCKHOLM (BRAIN) — Helmet technology company MIPS was fined SEK 1.7 million ($163,660) after CEO Max Strandwitz disclosed insider information regarding the bike market during an interview in a financial publication.
STOCKHOLM (BRAIN) — Continuing decreased bike helmet demand contributed to MIPS' net sales declining 51% year-over-year in the second quarter.
DENVER (BRAIN) — A U.S. District Court denied Fox Factory a preliminary injunction that would have forced SRAM to immediately take some RockShox forks off the market. Fox sued SRAM last July, claiming that the air bleed valves on some RockShox forks infringe on its patents.
BLOOMINGTON, Minn. (BRAIN) — Quality Bicycle Products has been named the new exclusive distributor of Sidi cycling shoes and accessories starting in October.
BERGAMO, Italy (BRAIN) — A few days before Eurobike commenced, 3T announced a new program to give select dealers the option to reserve production capacity for the next year. No longer needing to pre-order bikes and estimate specs' and colors, dealers attending Eurobike welcomed the news, 3T CEO Rene Wiertz said.
STOCKHOLM (BRAIN) — Thule Group's second-quarter net sales decreased 8.6% year-over-year with the company seeing a sales decline in bike-related products in its Americas region. Net sales for the quarter ending in June were SEK 3,029 million ($296 million) compared with SEK 3,314 million at the same time last year.
AMSTERDAM (BRAIN) — E-bike brand VanMoof officially has been declared bankrupt by the court of Amsterdam, which withdrew suspension of payment proceedings on Monday and cleared the way to a possible asset sale.
CHICAGO (BRAIN) — After 14 years as SRAM's full-time director of advocacy, Randy Neufeld will retire next month. Long-term SRAM employee Rob Cappucci will take over a redefined position as the company's director of advocacy and industry partnerships.
BLOOMINGTON, Minn. (BRAIN) — Distributor Quality Bicycle Products and retailer The Pro's Closet each announced workforce reductions this week. Each cited the industry's inventory challenges as a cause.
AMSTERDAM (BRAIN) — Dutch e-bike brand VanMoof has been granted temporary court protection from creditors.
BOULDER, Colo. (BRAIN) — For our July magazine edition, we asked our State of Retail panel members: What are your expectations of sales representatives? Are they being met?
SEATTLE (BRAIN) — Rad Power Bikes will close its European operations at the end of the year to concentrate on growing its North American market.
EL PASO, Texas (BRAIN) — Helen of Troy reported net sales for the first quarter fell 6.6% year-over-year with the Home & Outdoor group, which includes brands Osprey and Hydro Flask, declining 7.3%.
WARWICK, R.I. (BRAIN) — Spinov8 is no longer the North American distributor for special-needs bike brand Van Raam after seven years. Because it was a single brand distributor for Van Raam, Spinov8 ceased operations.
OLATHE, Kan. (BRAIN) — Garmin is now providing retailers with "Garmin Ready" frame labels that let consumers know the e-bike is certified to communicate with their Garmin devices.
(BRAIN) — American Classic is offering three new low-priced tire models with sales to benefit PeopleForBikes' Community Grants program.
PARK CITY, Utah (BRAIN) — Bloomberg is reporting that TSG Consumer Partners is weighing the possible sale of Backcountry.com and its related e-commerce sites, which include CompetitiveCyclist.com.
ATLANTA (BRAIN) — Wahoo Fitness says its financial woes are in the past after a recapitalization eliminated debt that had crippled it after the pandemic boom in indoor exercise products. Three private equity groups helped founder Chip Hawkins pay off a public debt owed to a bank consortium; it also put capital on Wahoo's balance sheet to enable growth.
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