Bike & eBike – Page 37
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ArticleMips: Gloomy year due to high inventory levels
Both weak demand and high inventory levels in the bicycle helmet category, which is also served by helmet safety technology provider Mips AB, led to another whopping 31.9 percent drop in sales in Q3 of FY23 compared to the same quarter in 2022. However, the situation gradually improved during the ...
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ArticleShimano cites weak demand as nine-month results slip
Numerous global factors, including a “lackluster economy” in Europe and a ”sluggish” recovery in China, Shimano reported a 19.8 percent decline in total sales to ¥375.27 billion (€2.36bn) for the first quarters of fiscal 2023. Operating profit fell by 43.0 percent to ¥72.09 billion (€453.0m) from ¥126.58 billion for the ...
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ArticleCoalition for Cyclist Safety aims to improve safety of bike and eBike riders in North America
19 companies from the automotive, bicycle and technology sectors have joined forces to drive the development and implementation of connected mobility solutions. With their help, they want to help reduce the risks for bicycle and eBike riders on North American roads. Founding members of the Coalition for Cyclist Safety are: ...
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News briefsNew bike saddle from Huan targeting a more comfortable ride
Source: Huan PPS4 bike saddle The South Korean bicycle saddle brand Huan has developed two new types of its Huan PPS prostate protection saddles to make riding safer and more comfortable. The Huan PPS4 Flat saddle is designed for people with large hips or a heavier weight, ...
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ArticleWSF extends existing crowdinvesting campaign
In August, Austrian bicycle and e-bike contract manufacturer WSF Bicycle Technology GmbH launched a crowdinvesting campaign on crowdfunding platform Conda with a funding target of €400,000. The company, which was founded in 2020 and is based in Regau, Upper Austria, plans to use the money to increase its production from ...
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News briefsInternetstores GmbH files for insolvency
Stuttgart-based Internetstores GmbH, which includes the bike and outdoor online shops Fahrrad.de, Bikester, Campz and Addnature, filed for insolvency at the Stuttgart District Court on Monday afternoon. The company is part of Signa Sports United (SSU), the sporting goods division of the Signa Group founded by Austrian investor René Benko. ...
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ArticleWave of insolvencies at SSU seems unleashed
While Signa Sports United (SSU) offshoot Internetstores GmbH (Addnature, Bikester, Brügelmann, Campz, Fahrrad.de, Probikeshop) is said to have informed its suppliers of impending insolvency in self-administration and British affiliate WiggleCRC is believed to have done the same in its home country, German Tennis-Point GmbH has already filed for insolvency on ...
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News briefsVista Outdoor announces CFO for Revelyst
Source: Vista Outdoor Andy Keegan Previously considered a plan, it’s now official: Andy Keegan, currently Vista Outdoor’s vice president and interim CFO, will serve as Revelyst’s CFO following the planned spin-off of Vista Outdoor’s Outdoor Products segment into a separate public company. Keegan will continue to serve ...
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ArticleSigna Holding sells Sport Scheck to British Frasers Group
On Oct. 17, Signa Retail Department Store Holding GmbH announced the sale of the German sporting goods chain SportScheck to British sporting goods and fashion retailer Frasers Group. Frasers runs, among other brands, Europe’s largest retailer of sports and fitness footwear, apparel and equipment, Sports Direct. No details were given ...
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News briefsPierer Mobility AG announces change of ticker symbol
The shares of the two-wheeler giant Pierer Mobility AG (brands KTM Motorrad, Husqvarna Motorcycles, GasGas as well as Felt Bicycles, Gas Gas E-Bicycles, Husqvarna E-Bicycles, etc.) will no longer be listed on the stock exchange under the ticker symbol PMAG, but under PKTM with immediate effect. The shares of the ...
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ArticleLargest SSU shareholder cancels equity commitment
Shortly after deciding to delist from the NYSE, Signa Sports United (SSU) announced that it had received a termination notice regarding the unconditional equity commitment letter from Signa Holding GmbH, a privately held Austrian real estate and retail company and a subsidiary of the company’s largest shareholder, Munich-based Signa International ...
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ArticleQ3 Bicycle Industry Stock Chart: Bike manufacturers had to cut back
Even though the long-term prospects of the bicycle sector are looking promising, it is currently operating in difficult terrain. This is also reflected by The Outdoor Industry Compass’ Q3 analysis of the bicycle industry stock market.
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ArticleVista Outdoor divests Sporting Products business for $1.91bn
Vista Outdoor has agreed to sell its Sporting Products business to Czechoslovak Group a.s. (CSG) for an enterprise value of $1.91 billion. The transaction is subject to customary closing conditions. This transaction is the next step in Vista Outdoor’s plan to split the business into separate entities, previously announced on ...
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ArticleCycling associations welcome EU declaration on cycling
European cycling associations welcome the proposal for the “European Cycling Declaration” presented by EU Transport Commissioner Adina Vălean in Seville this month. The declaration is intended to serve as a “strategic compass for existing and future policies” to “realize the full potential of cycling in the European Union.” The European ...
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News briefsDecathlon Belgium introduces subscription service for kids’ bikes
Decathlon Belgium is launching a new bicycle subscription service for children up to 12 years old. The sporting goods retailer makes available for rent 53 models of bicycles for children of that age that are also sold in its stores. This will allow children to use a bike that grows ...
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ArticleVittoria opens cotton bike tire factory in Bangkok
Italian bicycle tire specialist Vittoria has opened a new factory in Thailand for the production of cotton bicycle tires. This €20 million investment will expand the Vittoria Tyres Thailand (VTT) factory site from 36,000 to 51,000 sqm in the Bangpoo industrial area, near VTT’s current headquarters. The 10,000 sqm facility ...
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ArticleAccell Group appoints new CEO and Supervisory Board Chairman
Source: Accell Group Tjeerd Jegen, new CEO and Chair of the Management Board The Netherlands-based Accell Group, a leading manufacturer of bicycles, bicycle parts and accessories, has appointed Tjeerd Jegen as CEO and Chair of the Management Board, effective Nov. 1, 2023. Jegen succeeds Juan de Ochoa, ...
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News briefsParlee Cycles changes owner
Source: Parlee Composites John Harrison, new owner of Parlee Massachusetts-based company Parlee Cycles has been acquired by avid cyclist and independent investor John Harrison, effective Oct. 1, 2023. The acquisition of the brand and 100 percent of Parlee Cycles’ assets signals the end of their restructuring process ...
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ArticleVista Outdoor unveils name for outdoor products segment
Having already announced the new name of its Sporting Products segment (The Kinetic Group) last August, Vista Outdoor Inc. has now revealed the name and identity of its Outdoor Products segment following the planned separation of the group: Revelyst, Inc. The new Outdoor Products company will trade on the New ...
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News briefsNew management for Brose’s e-bike segment
Source: Brose Daniel Wolde-Giorgis With immediate effect, Dr. Daniel Wolde-Giorgis is taking over the management of Brose Antriebstechnik, the e-bike division of the German automotive supplier Brose. Wolde-Giorgis will continue to drive Brose’s development as a system provider for e-bikes and strategically expand the service offering. Wolde-Giorgis’ ...
