All articles by Jo Beckendorff
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Belgian Cycling Factory strengthens management with two industry veterans
Belgium’s largest bicycle manufacturer Belgian Cycling Factory (BCF) – the umbrella of the brands Ridley, Eddy Merckx Bikes (including their independent steel frame range Corsa) and the Bike Valley competence center – has hired two experienced industry experts. Eugene Fierkens was appointed as General Manager Strategy & Business, and Edward ...
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Bike24 reports high 2023 loss due to impairments, depreciation and amortization
After listed online retailer Bike24 Holding AG announced its first preliminary figures for FY 2023 at the end of February, the Dresden-based company has now presented its annual report with all the relevant details. This includes value adjustments and write-downs, which did not yet play a role, ...
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Slump in sales of bike helmets causes two-digit drop in Mips’ 2023 results
The Swedish supplier of safety technology for helmets, Mips AB, closed FY 2023 with a 37 percent decline in sales (39 percent adjusted for currency effects) compared to the previous year and achieved total sales of SEK 357 million (€31.20m). According to the company, the double-digit drop in sales is ...
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At Ideal Bike, the market slump was accompanied by two client bankruptcies
As we have already reported, the two Taiwanese industry leaders Giant Group and Merida had to contend with declining sales trends last year. Taiwan’s third-largest bike manufacturer, Ideal Bike Corporation, was hit even harder by some inherited loss-making issues. Last year, the Taiwanese company not only had to cope with ...
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News briefs
Merida reports two-digit 2023 decline in sales and profit
Taiwan’s second-largest bicycle manufacturer Merida Industry Co., Ltd. achieved total sales of TWD 27.16 billion (€787.84 million) in FY2023. Compared to 2022, this is a decline of 26.4 percent. Although Merida is also a public company, it only publishes the figures it is required to publish. At TWD 3.39 billion ...
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News briefs
Bourrelier Group appoints Managing Director for Mavic
Source: Mavic Alberto Morgando After working with Jean-Michel Bourrelier for more than five months, Alberto Morgando officially took over the position of Mavic Managing Director on Feb. 20. According to the two Bourrelier Group SA directors Yoann and Jean-Michel Bourrelier, the appointment “marks a continuation in the ...
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MyStromer reports sustainable growth in 2023
Despite the major hurdles that the bicycle industry had to overcome last year – overstock, liquidity bottlenecks, etc. – bicycle supplier MyStromer AG was able to score points. Without disclosing detailed sales figures, the Swiss manufacturer of the Stromer and Desiknio brands closed FY2023 with consolidated sales growth of 10 ...
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MyStromer moves Desiknio Bikes production to Poland
This year, Desiknio Bikes, the Spanish sister brand of S-pedelec brand Stromer under the roof of Swiss MyStromer AG, is taking off with a new production partner. Since January, all Desiknio models have been painted and assembled by the Polish manufacturer Kross S.A. in Przasnysz, 110 kilometers north of Warsaw. ...
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Fox Factory’s SSG sales drop weighs on the overall result for FY23
While Fox Factory’s former Powered Vehicle Division (split in Q2 2023 into the Powered Vehicle Group (PVG) and Aftermarket Applications Group (AAG)) scored with sales growth, the Specialty Sports Group (SSG), which operates the bicycle product brands Easton Cycling, Fox Suspension, Marzocchi and Race Face, ended up with a two-digit ...
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Thule Group coped not too badly with challenging FY
Swedish Thule Group AB ended the challenging financial year with a year-on-year decline in sales of 9.9 percent to total sales of 9.13 billion Swedish kronor (€804.71 million), an operating result of SEK 1.51 billion (€133.08m, -11.8 percent) and a net profit decline of 13.8 percent to SEK 1.10 billion ...
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Mips with poor 2023, but bike helmet orders are growing
2023 was a challenging year for helmet safety technology provider Mips AB, mainly due to the bicycle helmet category, which was affected by high inventory levels and a drop in demand. The only ray of hope: incoming orders for this very category picked back up for the first time in ...
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Cake files for insolvency, administrator seeks buyer for business operations
What several Swedish media outlets have already reported has just been confirmed by both the appointed insolvency administrator and on the website of the Swedish manufacturer of electric motorcycles itself: On Feb. 1, Cake 0 Emission AB had to file for insolvency. Lawyer Jakob Callmander from the Stockholm-based law firm ...
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CIE CEO Kevin Mayne to retire later this year
Kevin Mayne, founding CEO and not only “the voice” of the Brussels-based trade and industry association Cycling Industries Europe (CIE), but here and there also of the entire bicycle industry, has announced his retirement this year. Mayne is considered one of the most visible political figures in the cycling industry. ...
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Belgian-German partnership for large-scale production of thermoplastic carbon bicycle frames
The young Belgian carbon frame expert REIN4CED N.V. has announced a closer strategic partnership with the German mechanical and plant engineering expert Dieffenbacher GmbH Maschinen- und Anlagenbau to accelerate the large-scale production of thermoplastic carbon bicycle frames. The partnership aims to deepen the integration of product and machinery development. This ...
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Accell Group relocates production and cuts jobs
After announcing the relocation of the production of the German Accell brand Ghost in Waldsassen to the Accell production sites Accell Hunland Kft. in Hungary and Accell Bisiklet Sanayi ve Ticaret A.S. in Turkey late last year, the Accell Group is now planning further measures to streamline the operating model ...
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Brose E-Bike with two new service partners in five markets
Brose Antriebstechnik GmbH & Co. KG, which now has its e-bike systems used by over 30 bicycle manufacturers worldwide, is expanding its global service network step by step. The Berlin-based company is announcing two new partners at the start of 2024, who will now also ensure the smooth handling of ...
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Cautious mood at Pierer Mobility despite record revenue and unit sales in 2023
After Austrian two-wheeler giant Pierer Mobility AG presented its first preliminary business figures for 2023 earlier this month, the company announced additional details on Jan. 29. The public company achieved both a record turnover of €2.661 billion (+9%) and record sales (381,555 motorcycles = +2% and 157,358 bicycles including e-bikes ...
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News briefs
TNT Cycles hires experienced manager for Megamo
At the turn of the year, Megamo manufacturer TNT Cycles SL, based in Vilablareix (near Girona, Spain), appointed a new Managing Director for its up-and-coming bicycle brand. According to the company, the appointment of Florentino “Tino” González as the new Managing Director of Megamo is “an important appointment for the ...
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Giant Manufacturing shifts up in Global 100 Index 2024
This year, more sustainable companies from the Asia-Pacific region are listed in the ranking of the Global 100 Index by Corporate Knights than ever before. Also included is Taiwan’s leading bicycle producer Giant Manufacturing.
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German bicycle tire supplier relocates production to Vietnam
Schwalbe manufacturer Ralf Bohle GmbH is strategically realigning its production: All bicycle tires and inner tubes will be produced exclusively in Vietnam in the future. Only mold making, mixing operations, R&D and administration will remain at the long-standing Schwalbe production site in Indonesia. The move is justified by the development ...