All articles by Jo Beckendorff – Page 9
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News briefsFox Factory releases Sustainability Report 2022 with targets for 2030
Stock-listed chassis and suspension expert Fox Factory Holding Corp. released its 2022 global sustainability report. It is not only highlighting today’s company’s strategy and achievements but also introducing the next stage of its sustainability journey by setting 2030 aspirations for positive impacts across its operations and communities. The US company’s ...
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ArticleBicycle slump leads to decline in sales and profits at Shimano
The current high (bicycle) inventory levels and decreasing demand are also being felt by market leader Shimano Inc. However, despite a double-digit drop in sales in its largest business unit, bicycle components, in the first half of 2023, the Japanese company remains calm. It’s counting on bicycles as a global ...
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News briefsMips comments on the fine imposed by Nasdaq Stockholm
On July 21, the Swedish helmet technology manufacturer Mips AB, which has been traded on the Stockholm Stock Exchange since 2017 and moved from the mid-cap to the large-cap segment in early 2022, was fined two annual fees totaling SEK 1.7 million (€147,178) by Nasdaq Stockholm’s Disciplinary Committee. Said committee ...
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ArticleMips gives positive outlook despite notable sales decline in Q2
Bad and good news can be seen in the preliminary Q2 figures and thus the half-year figures of the “Brain Protection System” (BPS) manufacturer Mips AB: As expected, there is a slump in sales due to the ongoing weakness in demand in the bicycle sector, which is struggling with full ...
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ArticleBike24 lowers FY forecast after gloomy prelim Q2 results
Looking at publicly traded e-commerce bike retailer Bike24 Holding AG’s preliminary dismal second-quarter results, it’s clear why the Dresden-based company also sent out a separate announcement to “adjust the forecast for the financial year downwards.” This move in itself demonstrates the gravity of the current situation. According to preliminary calculations, ...
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News briefsSSU appoints former Accell Group CEO to its board
German, U.S.-listed cycling, outdoor and team sports e-commerce retailer Signa Sports United N.V. (SSU) has announced the appointment of former Accell Group CEO Anthonie “Ton” Anbeek to its board of directors. The appointment is effective April 1, 2024. Source: Accell Group Ton Anbeek With Anbeek, SSU said ...
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News briefsVanMoof is insolvent
After granting VanMoof a temporary suspension of payments on July 13, Dutch insolvency file website FaillissementsDossier now reports that the Amsterdam District Court on July 17 lifted that very suspension via creditor protection proceedings for the Dutch DTC provider of e-commuter bicycles. As a consequence, the companies VanMoof Global Holding ...
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ArticleGreenstorm Mobility faces termination of operations
On July 12, the Austrian e-mobility concept pioneer Greenstorm Mobility GmbH filed for insolvency. The Innsbruck regional court now has jurisdiction over the Kufstein-based company. Attorney Philip Paumgarten of the law firm Rechtsanwälte Waldbauer, Paumgarten, Naschberger und Partner was appointed as insolvency administrator. A once award-winning concept seems no longer ...
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ArticleCreditor protection filing: VanMoof is granted payment suspension
On July 13, Dutch Bankruptcy File (FaillissementsDossier) reported that the responsible district court in Amsterdam has officially granted VanMoof Global Holding B.V. a temporary suspension of payments. The Dutch DTC provider of e-commuter bicycles, reportedly struggling with financial constraints for some time, had filed a corresponding petition on July 12. ...
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ArticleRad Power Bikes withdraws from the European market
On July 10, Rad Power Bikes Inc. announced on its European website that it would withdraw completely from Europe and focus entirely on North America in the future: “We are sad to say goodbye.” This is a radical shift in course for the largest US B2C e-bike provider. According to ...
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ArticleB2B event “Austria on Bike” goes into second round
After the successful premiere of ARGE Fahrrad’s (a subsidiary of the association of sporting goods manufacturers and sports equipment suppliers of Austria VSSÖ) testing and networking event Austria on Bike last year, the Austrian bicycle industry is again inviting retailers to the largest national bike region of Saalfelden Leogang in ...
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News briefsSantini replaces Benelux distributor
On July 5, Italian premium bikewear supplier Santini S.p.a. (Santini Cycling Wear) officially parted ways with its Benelux distributor RA-Company BVBA and appointed the Belgian sales agency ARW NV as its new partner for the three countries instead. “Santini has been transformed deeply in the last years, and we feel ...
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ArticleQ2 Bicycle Industry Stock Chart: Long-term outlook forecasts full recovery
In the current economic environment, the stock market – regardless of the sector – continues to be on a rollercoaster ride. This also applies to the bicycle stocks monitored by The Outdoor Industry Compass.
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News briefsSemapa acquires bicycle aluminum frame builder Triangle’s
Portuguese aluminum frame builder Triangle’s Cycling Equipments has been acquired by domestic conglomerate Sociedade de Investimento e Gestão (Semapa). The full acquisition was made by Aphelion, a wholly-owned subsidiary of the publicly traded conglomerate. Semapa has so far made a name for itself mainly with holdings in the cement, pulp ...
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News briefsStorck goes China
A distribution partnership between German premium bike supplier Storck Bicycle GmbH and China’s Golden Wheel Group (also known as Tianjin Golden Wheel Bicycle Group) was officially signed at this year’s China Cycle Show (May 5-8) in Shanghai. A key aspect of the cooperation is the distribution of Storck’s racing and ...
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ArticleVDL Groep starts aluminum frame production in the Netherlands
In addition to mobility company Pon Holdings B.V., which is already well established in the bicycle market with its Pon.Bike division, a second family-owned Dutch industrial group is now preparing to focus specifically on bicycles. On June 5, Eindhoven-based VDL Groep, which has close ties to the automotive industry, announced ...
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ArticleEurobike Investors Lounge enters second round
Last year’s relocation of the Eurobike show from Friedrichshafen to the financial metropolis of Frankfurt am Main was also used by trade show organizer Fairnamic GmbH as an opportunity to arouse the interest of financial investors for the bicycle, sports and mobility industries. After all, the topic of sustainability has ...
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ArticleAspire Sports expands distribution of Cannondale and GT to more European countries
Source: Aspire Sports Central and Eastern European countries served by Aspire Sports Czech wholesaler and importer Aspire Sports S.R.O. is expanding the distribution of U.S. premium bicycle brands Cannondale and GT Bicycles, which belong to Dutch mobility group Pon Holdings B.V. and its subsidiary Pon.Bike since early ...
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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 ...
