All articles by Jo Beckendorff – Page 6
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ArticleLeatt faces stark comparison with last year’s Q1 numbers
Even as South African protective equipment maker Leatt Corporation chalked up last year’s record sales as the best in its history, in the second half of the year, supply chain issues, inflation, weak consumer demand and a strong US dollar had already led to high inventory levels and a decline ...
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News briefsGiant Group and Stages Cycling cancel minority share takeover negotiations
At the beginning of the year, we reported on two ticker announcements from the Taiwan Stock Exchange (TWSE). Both concerned the listed bicycle producer Giant Manufacturing Company Ltd. (or Giant Group, including brands Cadex, Giant, Liv and Momentum). The first: That Giant Group had acquired a minority stake in US-based ...
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ArticleGiant Q1: Overstock harming sales in the West
Inventory reductions in the European and North American markets, as well as the higher year-on-year comparison base, have had a direct impact on the first quarter results of bicycle producer Giant Manufacturing Company Limited (Giant Group). The Taiwanese company had to swallow a 9.6 percent sales drop compared to the ...
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ArticleOrbea posts seventh consecutive year of growth
Without losing sight of its values and identity as a cooperative, Basque bike manufacturer Orbea S. Coop has become a leading and globally recognized bike supplier. As the company announced at its AGM on May 6, it now employs more than 1,000 people worldwide. 80 percent of them in its ...
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News briefsBenno Bikes recruits former Bergamont co-founder
Source: Benno Bikes Axel Kedenburg Benno Bikes founder and CEO Benno Baenziger has welcomed Axel “Akki” Kedenburg, another high-flyer of his generation, as European sales and marketing director for his Etility Design bike brand. In his new role, Kedenburg will be responsible for marketing, PR and dealer ...
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News briefsOne half of Puky’s managing director duo quits
Source: Puky Britta Sieper and Mathias Heller Ever since Britta Sieper became a member of the management board of Puky GmbH & Co. KG at the end of 2021, Germany’s long-established children’s and youth bicycle supplier was run by a duo of managing directors. Now – after ...
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ArticleHigh inventories and sluggish consumer climate lead to decline in sales at Bike24
Even the good business performance of the localized online stores in the newly opened country markets of Spain, France and Italy, with an average increase in sales of 109 percent (compared to the prior-year period), could not really mask the business figures of the German cycling, running and swimming sports ...
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ArticleShimano’s bike sales drop 17% in Q1, revises annual forecast
When Shimano Inc. presented its 2022 annual report in February with record sales and profits, the company simultaneously warned of a challenging 2023, forecasting a 20-percent drop in sales. Looking at the first quarterly figures just presented, it can be said that the Japanese company was not so wrong with ...
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ArticleMips’ weak bicycle business impacts overall result in Q1 2023
In the first sales quarter of 2023, the slump in the bicycle business, which was already noticeable last year, and the associated high inventory levels at retail continued noticeably for “Brain Protection System” (BPS) manufacturer Mips AB. This ultimately resulted in net sales of SEK 88 million (€7.7m). In the ...
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ArticleSales procedure initiated for insolvent Bikesale Solutions
The insolvent refurbishment and new bicycle marketplace www.bikesale.de is up for sale. Bikesales Solutions GmbH – the company behind “the first professional online bicycle marketplace for used bicycles in Germany” – was forced to file for insolvency with the competent district court in Munich on March 29. The appointed insolvency ...
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ArticleAdvanced Sports enters self-administration process
On April 1, Advanced Sports GmbH, the European sales company for the U.S. bicycle brands Breezer, Fuji and SE Bikes, had to file for insolvency in self-administration. Attorney Erion Metoja of the law firm Eisner Rechtsanwälte GmbH in Lauda-Königshofen was appointed as the administrator. During the reorganization proceedings in self-administration, ...
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News briefsMavic Group to enter growing e-bike and gravel bike market
From April 5 to 6, long-standing French bike components and bikewear supplier Mavic Group invited selected media representatives to its headquarters in Chavanod near Annecy. Mavic – in the hands of the Bourrelier Group since 2020 – presented its first e-bike mid-motor for road bikes and gravel bikes. It is ...
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ArticlePon Holdings cracks €10 billion in 2022
For the first time in the history of the family-run mobility company, Pon Holdings B.V. cracked the €10 billion sales mark last year. The Dutch company attributes this to the growth boom in sales of e-cars, e-bikes and e-equipment. The Pon.Bike division (brands Cervélo, Focus, Gazelle, Kalkhoff, Santa Cruz, Union, ...
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ArticleAustrian bicycle market 2022 with new highs in units and value
According to the latest figures from ARGE Fahrrad, which is affiliated with the VSSÖ, the Austrian bicycle market will once again reach a peak in 2022 in terms of both sales and revenue.
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ArticleStefan Pierer now also heading Leoni AG
Shareholder Stefan Pierer wants to take over Leoni AG, the struggling supplier of wire, cable and wiring systems, and delist it. There are many signs that Leoni will then be incorporated into Pierer Industrie AG based in Welz, Austria.
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ArticleCurrent overstock constraints cannot beat positive long-term outlook: Q1 bicycle industry stock chart
There are still hurdles to overcome. But in the long run, our cycling expert Jo Beckendorff says “Trends are the bike industry’s friends.”
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ArticleGerman e-tailer Bergfreunde continues on record path in 2022
German e-commerce retailer for mountain sports, climbing and outdoor, Bergfreunde GmbH, has achieved record sales of €242 million in its 2022 fiscal year. Compared to the previous year, this is an increase of 19 percent. With this result, the online specialty retailer was able to stand its ground in a ...
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News briefsCanyon expands leadership team with financial expert
Source: Canyon Bicycles Karim Bohn German DTC company Canyon Bicycles GmbH has appointed industry newcomer Karim Bohn as its new chief financial officer. As a member of the executive leadership team, he will be responsible for the financial management of Canyon as well as all Canyon-owned companies ...
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ArticleRiese & Müller presents third responsibility report
Source: Riese & Müller ”On the Move” is the title of the third responsibility report of the German e-bike and cargobike manufacturer Riese & Müller GmbH. The report documents not only the company’s path to becoming the most sustainable company in the e-bike industry but also its ...
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News briefs“Mr. Trickstuff” hands over the reins to management team
Trickstuff owner and CEO Klaus Liedler has placed his duties as CEO in new hands, effective Feb. 28, 2023. A leadership team comprising Natalie Jerkovic, Lukas Mayer, Dennis Michaliszyn, Santé Pelot and Patrick Seifarth will be supported by Marcel Ratering as managing director and a project team from parent company ...
