All articles by Jo Beckendorff – Page 8
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ArticleGiant Group acquires minority stake in Stages Cycling
According to two filings published on the Taiwan Stock Exchange (TWSE), the country’s largest bicycle manufacturer, Giant Manufacturing Company Ltd (a.k.a. Giant Group – Cadex, Giant, Liv, Momentum brands), has acquired a minority stake in U.S.-based indoor cycling and professional cycling training expert, Stages Cycling LLC. Following the approval at ...
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News briefsNew CEO for bike components manufacturer BC
Source: Bike-Components Dominic Land Dominic Land is the new CEO in charge of Bike-Components, the German online retailer of bicycles and bicycle parts, since Jan. 1. He has taken over from Philipp Simon. The succession of Simon has been in the works for some time in close ...
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News briefsThird generation of the founding family taking the helm at Merida
Source: Merida With Vansen Tseng, the third generation of the founding Tseng family takes the helm at Merida. On Jan. 13, Taiwan’s second-largest bicycle and e-bike manufacturer Merida announced that Vansen Tseng will assume the position of president, effective Feb. 1, 2023, following approval by the board ...
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News briefsNew GM at Ideal Bike Corporation
Following the resignation of Tim Lin as general manager of Ideal Bike Corporation, Taiwan’s third-largest bicycle and e-bike manufacturer, on Dec. 31, the company will now be led by Frank Chen, the former vice president of Ideal China. According to the company’s chairman Hermes Chang, Chen has already demonstrated his ...
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Article2022 bicycle stock chart development proves you can always do worse
Five are up, the majority are down. Compare your brand’s performance with our analysis of the 2022 bicycle stock market.
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News briefsSpecialized gets rid of 8 percent of its global workforce
Specialized CEO Scott Maguire officially announced on Jan. 11 that the company has laid off 8 percent of its employees worldwide. According to the U.S. bicycle company, the downsizing of the team is rooted in the global economy, which is changing faster than anticipated, and in rapid changes within cycling. ...
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News briefsJebsen Group invests in Woom
Hong Kong-based Jebsen Group has invested in Austrian children’s bicycle supplier Woom. The Jebsen Group shares acquisition is via the family-run trading and logistics company’s investment arm, Jebsen Capital. While no information was given on the exact amount of the Woom minority stake Jebsen now holds, it was noted that ...
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News briefsCompanies of insolvent Prophete Group up for sale
Following the filing for insolvency in late 2022, the appointed preliminary insolvency administrator Manuel Sack of law firm Brinkmann & Partner (B&P) has initiated “a structured international investor process with the approval of the preliminary creditors’ committee” for the Prophete Group. This means that the operational business activities of the ...
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ArticleGerman bicycle manufacturer Prophete files for insolvency proceedings
On Dec. 20, the renowned German bicycle manufacturer Prophete GmbH & Co. KG filed a petition to open insolvency proceedings (file number 43 IN 777/22). The court appointed Manuel Sack of nationwide law firm Brinkmann & Partner as Prophete’s provisional insolvency administrator. Between Dec. 20 and 23, the following entities ...
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ArticleTrial phase of the new Bike24 logistics center for southern Europe underway
Before the end of the year, the new logistics center of the German cycling, running and swimming sports online retailer Bike24 Holding AG started its pilot run in Barcelona. The first test packages have already been shipped. This means that the second logistics center of the “leading e-commerce platform for ...
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ArticleItalian investor joins 3T Cycling
To support 3T Cycling’s ongoing rapid growth, UTurn Investments Srl, an independent family firm founded by Gianpiero Peron, Luca Mongodi and Alberto Nicoli, has invested in the iconic high-end Italian niche bicycle company. The focus is also on expanding 3T’s own “Made in Italy“ factory, where not only bike components, ...
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ArticleBritish Mammut owner and investment company Telemos takes majority stake in Vittoria Group
A year and a half after acquiring the Swiss Mammut Sports Group from Bystronic (formerly Conzzeta Group), Telemos Capital is making news with another acquisition in the sporting goods industry. The British investment group has signed a binding agreement to acquire a majority stake in Vittoria Group, the bicycle tire ...
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ArticleBicycle business faces first major hurdles after pandemic surge
At ISPO Munich 2022, OIC spoke with representatives of Taiwanese sporting goods exhibitors about their counterparts in the bicycle industry and found out that fear is creeping into the business – not only among manufacturers in the Far East, but also among Western bike suppliers and their IBD partners. Read here why the industry is extremely worried.
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ArticleRose Bikes continues double-digit growth in 2021/22
DTC provider Rose Bikes GmbH achieved total sales of €174 million in its 2021/22 fiscal year ending Oct. 31. Compared to the previous year, this is an increase of 17 percent. What the Bocholt-based company is particularly proud of is that, despite bottlenecks in the supply chain, sales of complete ...
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ArticleCypad Group acquires majority stake in Pasasport
Since the entrance of the investor PM&Partners SGR S.P.A. in the Italian company Cytech S.r.l. (Cypad Group), which claims to be the world’s leading group for the production of seat pads in sportswear (cycling shorts, etc.) and glove pads, the focus has been on growth. Together, the companies have launched ...
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ArticleClassified Cycling closes €22 million financing round
Bicycle components newcomer Classified Cycling has successfully closed another round of financing. With the entry of new investors, €22 million were flushed into the Belgian company’s coffers. With the cash injection, raised under the leadership of investment firm Active Partners, Classified aims to “revolutionize the bicycle and e-bike market with ...
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News briefsShimano presents 2022 study on e-bike attitudes in Europe
Are you interested in a detailed country report on the attitudes toward e-bikes in several European countries? If so, you should keep an eye on Shimano’s “State of the Nation 2020” report. More than 15,500 people in 12 European countries were surveyed for this fourth annual report from the world’s ...
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News briefsCanyon Bicycles appoints former road bike athlete as COO
Source: Canyon Alison Jones, new Canyon COO As part of the company’s executive leadership team, German DTC bicycle supplier Canyon Bicycles GmbH has brought Alison Jones on board. She fills the open position of chief operations officer (COO). In this role, the former road bike athlete will ...
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ArticleBike industry veteran Pat Cunnane named CEO of Messingschlager USA
Europe’s leading and expanding bicycle accessories supplier Messingschlager GmbH & Co. KG has been able to win over a high-profile industry expert. The German company, which acquired its longtime U.S. partner company – then called Cycle Force Group – and its subsidiaries at the end of 2021 and shortly thereafter ...
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ArticleCannondale’s new organizational structure without European head
Source: Cannondale Marco Kind After Canadian conglomerate Dorel Industries sold its Dorel Sports bicycle division – comprising Cycling Sports Group (CSG) and Pacific Cycle Group (PCG) – to Dutch company Pon Holdings B.V. last year, work has been underway to integrate the acquired brands. Cannondale, the U.S. ...
