All articles by Jo Beckendorff – Page 9
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ArticleMV Agusta shareholders and KTM AG inject €30 million
After listed Pierer Mobility AG officially announced on Nov. 3 that its subsidiary KTM AG (not to be confused with e-bike pioneer KTM Fahrrad GmbH) was taking a 25.1 percent stake in rival MV Agusta Motor S.p.A. as part of a capital increase, the Italians announced a €30 million capital ...
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ArticlePon.Bike commissions YIT Lietuva to build new factory in Lithuania
After 2L Architects UAB – the Lithuanian architectural firm responsible for the design of the new factory – received the building permit at the end of September, on Nov. 18, the Dutch bicycle company Pon.Bike officially commissioned the construction company YIT Lietuva to build the 40,000-square-meter facility in Lithuania’s Kėdainiai ...
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ArticleBosch invests specifically in the European production of eBike Systems
In mid-October, the Slovakian ministry of economy told the domestic press that Robert Bosch GmbH (Bosch Group) and its offshoot Robert Bosch spol sro (aka Bosch-Slovensko) would expand the Slovakia-based Electric Drive Division to produce e-bike components for its e-bike drive supplier Bosch eBike Systems and invest accordingly. Shortly after ...
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News briefsRapha relies on dual leadership after Kim’s departure
Source: Rapha William Kim With William Kim stepping down as CEO of lifestyle bikewear supplier Rapha Racing Limited, the British company is relying on an internal dual CEO solution with immediate effect. Kim had succeeded Rapha founder Simon Mottram only at the end of last year. When ...
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ArticleMerida’s value sales continue to grow at double-digit rate in 2022
After Taiwan’s leading bicycle manufacturer Giant Manufacturing Company Ltd. reported double-digit sales growth of 14.4 percent (compared to the same period in 2021) in the first three sales quarters of 2022, Merida Ind. Co. Ltd., also listed on the stock exchange and the second largest bicycle manufacturer in the ...
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ArticleBike24's impressive sales growth in new markets cushions rising costs
Despite all the current macroeconomic challenges, Bike24 Holding AG, the online retailer of bicycles, running and swimming sports, achieved total sales of €72.62 million in the third quarter of fiscal year 2022. Compared to Q3 2021, this is an increase of 12.9 percent. However, both gross profit (€18m, down 8.3 ...
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ArticleFirst-ever WBIA Global Market Report soon available
At its virtual general assembly this year, the World Bicycle Industry Association (WBIA), which was founded in 2019, discussed numerous industry and market developments on a global level. The latest news is that a first-ever comprehensive WBIA Global Market Report will be published soon. WBIA members include CONEBI, the umbrella ...
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ArticleItalmobiliare announces new Sidi CEO after takeover
Source: Sidi Sport Davide Rossetti, CEO Sidi Sport With domestic investment holding company Italmobiliare Holding S.p.A. (we reported in July) set to complete the acquisition of Italian cycling and motorcycle footwear icon Sidi Sport S.r.l. in the current fourth quarter of 2022 “at an enterprise value of ...
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ArticleGiant Group celebrates 50th anniversary, boasts solid results
For Taiwan’s leading bicycle manufacturing companies Giant Manufacturing Company Ltd (Giant Global Group) and Merida Industry Co Ltd, 2022 is very special: both companies are celebrating their 50th anniversaries. On Oct. 27 – one week before the announcement of financial results for the first three sales quarters of 2022 – ...
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News briefsPierer Mobility and MV Agusta deepen strategic cooperation
Shortly after the announcement of a strategic partnership in North America (Pierer Mobility subsidiary KTM AG will take over the exclusive distribution of MV Agusta), the two European motorcycle and (e-)bike suppliers have announced that they will intensify their cooperation by entering into a worldwide distribution partnership. In this context, ...
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ArticleNew German DTC e-bike company Hepha goes live
A new DTC e-bike supplier called Hepha GmbH is a new kid on the block in the buzzing e-bike market. Noticeably, the top model of the southern German brand comes with a mid-motor developed by the company itself in Germany, while the two other models are equipped with mid-motors made ...
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ArticleOrtlieb and Driver Berlin cooperate on upcycling
Source: Ortlieb Scrap material is generated during production at Ortlieb, which the company is now handing over to Fahrer Berlin for upcycling. Both the German pioneer of waterproof outdoor and bicycle bags and backpacks Ortlieb Sportartikel GmbH and the comparatively young bicycle accessories brand Fahrer Berlin GmbH ...
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ArticleSlumping bike product sales cause double-digit sales decline at Thule Group in Q3
More expensive raw materials, higher freight costs, unfavorable exchange rates, etc. – initially, Thule Group AB was still somehow able to offset the effects of the Russian invasion of Ukraine with price increases and efficiency measures. But even then, the Swedish company explicitly referred to the unstable market situation in ...
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ArticleSRAM veteran transfers to World Bike Relief
Source: SRAM David Zimberoff After nearly 30 years in the bicycle industry, “DZ” David Zimberoff will soon leave his position as vice president of marketing at U.S. bicycle component manufacturer SRAM Group (Avid, Hammerhead, Quarq, SRAM, Rockshox, Time Sport, Truvativ, Velocio, Zipp brands) to focus on a ...
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ArticleShimano defies slowing demand with results above pre-Covid level
Triggered by the Russian invasion of Ukraine, global shortages in raw material and energy supply, as well as rising raw material prices, will have a direct impact on the business of Shimano Inc. Nevertheless, demand for bicycles and fishing tackle remained stable in the first three sales quarters of fiscal ...
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ArticlePinarello’s good results accelerate further investments
Based on the good financial results of the 2021/22 fiscal year (ended June 30), Italy’s Cicli Pinarello s.r.l. is looking to a bright future. For the current fiscal year 2022/23, the road bike supplier is expecting a growth rate of between 25 and 30 percent – “still considering the limitation ...
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ArticleWeak bicycle market significantly hurts Mips sales and margin in Q3
High bicycle helmet inventories at retailers and production cuts at manufacturers are hurting the Swedish Brain Protection System (BPS) manufacturer Mips AB. Net sales fell 39 percent to SEK 113 million (€10.23m) in the third quarter. Organic growth fell by 50 percent. Bit fell 66 percent to SEK 37 million ...
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ArticleBicycle Stocks Q3 2022: Weighed down by fear of global crash, yet 1/4 buck the downward trend
The Russian war against Ukraine is having such a major global impact that other issues, such as Covid, seem to be taking a back seat. The energy crisis forced by the war, combined with rising interest rates, inflation, and consequently weakening consumer demand and spending, could lead to a global recession – and even a global stock market crash.
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ArticleYamaha launches first e-bikes under own name on European market
For a long time, pedelec pioneer Yamaha had maintained a low profile when it came to e-bikes to be sold in the Western world. It took (too) long to develop drive units and the associated service specifically tailored to the European market. Now, however, things are suddenly happening at a ...
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ArticleNew PBG production facility in Lithuania on schedule
After the grand opening of German Kalkhoff Werke GmbH’s plant in September (production of Kalkhoff and Focus e-bikes already started in March), there were questions as to whether Kalkhoff’s Dutch parent company, Pon Bike Group (PBG), would be able to open its third European production facility in Lithuania in 2024 ...
