All Bike & eBike articles – Page 54
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News briefsExtension of fundraising period for Giant officially approved
On Aug. 15, the extension of the fundraising period for Giant Manufacturing Co. Ltd.’s (Giant Group, Taiwan’s largest bicycle manufacturer) 2022 cash capital increase was officially approved by the domestic Financial Supervisory Commission. On May 26, Giant Group had already received approval from the commission for a cash capital increase ...
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ArticleLeatt reports yet another quarter of global revenue growth
U.S. over-the-counter (OTC) traded South African protective equipment maker Leatt Corp reported a 25.4 percent increase in sales (compared to Q2 2021) to $17.94 million for the second quarter of the current fiscal year 2022. Operating income increased 18.5 percent to $3.73 million, while net income increased 13 percent to ...
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News briefsSchwan-Stabilo employees finish 84,637km in charity sports challenge
The employees of the Schwan-Stabilo group (staff of Deuter, Ortovox, Maier Sports and Gonso being among them) have mastered the first global Schwan Sports Challenge, a charity project that supports initiatives for clean drinking water and reforestation. All Schwan-Stabilo sites lined up in a row make up a distance as ...
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ArticleBike24’s bright spot in difficult times is its young international business
Thanks to sales increases in Spain, France and Italy, the listed German cycling, running and swimming sports online retailer Bike24 Holding AG was at least able to significantly grow its international business. Nevertheless, the Dresden-based company had to accept a decline in sales of 4 percent to €67 million in ...
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ArticleChange of ownership at family-owned bicycle supplier Stevens
Source: Stevens Stevens founders and brothers Wolfgang (left) and Werner von Hacht. As he reached the age of 65, company co-founder Wolfgang von Hacht retired from the management of Stevens Vertriebs GmbH. His 50 percent share in the German bicycle supplier, which once emerged from a Hamburg ...
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News briefsVista closes acquisition of Fox Racing
Vista Outdoor announced the closing of its acquisition of California-based Fox Racing for the purchase price of $540 million, with the potential for an additional $50 million earnout based on Fox Racing’s financial performance (OIC reported earlier). The addition of Fox Racing allows Vista Outdoor to add another category-leading brand ...
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News briefsEscapa opens Madrid’s largest bike store
The Spanish cycling chain Escapa has just opened the largest bike shop in both the city and the autonomous community of Madrid, according to CMDsport. Owned and operated by Quadis, which describes itself as Spain’s largest network of automotive dealers and repair shops, Escapa has, over the past few years, ...
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ArticleFox Factory with new sales records, gives cautious outlook
U.S.-based suspension specialist Fox Factory Corp. reported total revenues of $406.71 million (€399.48 million, +23.9% year-on-year) in its second fiscal quarter of 2022. This amount is split between the Powered Vehicles Group (PVD, $229.03 million, +20.9%) and the Specialty Sports Group (SSD, $177.67 million, +28.1%). SSD sales increased due to ...
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ArticleGiant Group reports historic quarterly record
With a record-breaking second quarter under its belt, Taiwanese bicycle manufacturer Giant Manufacturing Company Limited (Giant Group) has increased its H1 sales by 7.2 percent to a total of TWD 45.01 billion (€1.47 billion). Considering the rising inflation worldwide and the war in Ukraine, this is an excellent result. In ...
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ArticleBombardier acquires majority stake in German bike transmission specialist Pinion
Pinion, a Stuttgart-based manufacturer of a fully sealed manual bike transmission “Made in Germany,” which is based on sports car gearbox technology, has gained a new strategic partner in the Canadian group Bombardier Recreational Products Inc. (BRP), which has also become a majority shareholder alongside the founders and managing directors ...
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News briefsNew global bike show planned in Portland in 2023
According to BikePortland, the city in the U.S. state of Oregon will host a new bike show next year called the MADE Global Bike Show, a new “industry and consumer bike event with a mission to bring frame builders, media and makers together to elevate and inspire.” It is scheduled ...
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News briefsSpecialized acquires U.K. retail chain Rutland Cycling
Specialized has taken over Rutland Cycling, an independent cycle retailer in the U.K. Founded in 1981, Rutland currently has 12 stores in operation. Big Growth Fund, the London-based investment firm that became the largest shareholder in the company in March 2014, will be completely exiting the business. Simon Homer, managing ...
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News briefsVittoria issues €5 million sustainability bond through UniCredit
Italian bicycle tire specialist Vittoria, owned by its management and private equity fund WISE Equity, has issued through UniCredit a €5 million ESG (Environmental, Social, and Governance) sustainability-linked bond, which will help finance its investments in capacity and innovation in Thailand and Italy. The bond has a duration of six ...
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News briefsWoom cooperates with kids’ eyewear brand SooNice
Source: woom The Austrian children’s bike brand Woom is collaborating with the children’s sunglasses label SooNice, also from Austria, to launch a special edition of the SooNice Sunnies. Every newly purchased Woom Original 2, 3 or 4 bike now comes with a pair of these special edition ...
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News briefsPorsche’s e-bike joint ventures with Ponooc start operations
Source: Porsche AG Jan Becker, Chairman of the Management of the Porsche eBike Performance GmbH As reported earlier, German sports car maker Porsche is looking to expand its e-bike commitment. For that purpose, two joint ventures have started their business today, which Porsche has founded ...
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News briefsCanyon receives reported $30m in new investment
Various press outlets are reporting that Canyon Bicycles has received an estimated $30 million in new capital from two investors. One is LRMR Ventures, the investment group run out of Akron, Ohio, by the NBA player LeBron James and his longtime associate Maverick Carter. (James took a minority interest in ...
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News briefsVSF and BICO jointly expand support for the specialist bicycle retail trade in Germany
The board of directors of the German bicycle industry association VSF (Verbund Service und Fahrrad e.V.) and the supervisory board of the purchasing association Bike&Co (BICO) have signed a cooperation agreement at Eurobike to work more closely together. This covers the areas of product supply, training and education, and politics. ...
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News briefsItalian Bike Festival to take place for the first time in Misano
The 5th edition of the Italian Bike Festival, the international trade show created in 2018 and organized by Milan-based Taking Off, will take place at the Misano World Circuit in Misano Adriatico on Sept. 9-11. The previous editions were held at the Parco Fellini in Rimini, but the organizers had ...
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News briefsKomoot adds several new languages
Outdoor app Komoot is offering a native-language experience in several new local outdoor and cycling communities in developing markets, effective immediately. Adding the five new languages – Japanese, Korean, Polish, Brazilian Portuguese and European Portuguese – brings the total number of languages available to its 27 million-strong global community to ...
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ArticleShimano sees strong demand for bikes in first half, fishing segment cooling down
Shimano reported a 22.4 percent increase in net income to 68,558 million Japanese yen (€491.6m) for the six months ended June 30. Operating income was 15.7 percent higher for the period at ¥80,909 million (580.2m) versus ¥69,922 million in the year-ago period. Pearl Izumi U.S. was excluded from the reported ...
