Thule acquires trailer company
Reacha, a German brand of small trailers, mostly designed for bicycles and water sports equipment, is the latest addition to the Swedish Thule Group.
Sidi Sport signs ‘Business for People and Society’ manifesto
Sidi Sport supports the manifesto “Business for People and Society,” drawn up by the UN Global Compact Network Italy, the local network of the UN Global Compact, the world’s largest sustainability initiative for companies.
Clarus appoints three veteran experts to support Adventure segment
Clarus Corporation, owner of the Black Diamond and Pieps brands, among others, has made three strategic hires for its Adventure segment to accelerate growth in the US and international markets and strengthen its global OEM initiatives. The Adventure segment, which includes Rhino-Rack, Maxtrax and Tred Outdoors, has appointed Tripp Wyckoff ...
Thule Group operating income rises 3% in Q2
Thule Group AB, despite a promotional North American market and lower RV products across Europe and Rest of World, reported a 3 percent gain in operating income to 732 million Swedish kroner (€63.3m) for the quarter ended June 30. Net income increased by 3.7 percent to SEK 559 million (€48.4m) ...
Two long-standing executives to share new COO role at Garmin
Garmin announced today that Patrick Desbois and Brad Trenkle have both been appointed to the newly created role of Chief Operating Officer, effective July 1, 2024.
New Cake owner introduces himself and his future plans
After Cake founder and CEO Stefan Ytterborn (also founder of the protective equipment company POC) lost a major investor at short notice and his e-motorcycle and e-bike company, founded in 2016, had to file for insolvency on Feb. 1 of this year, the insolvency administrator gave little news about the ...
Eurobike Festival Days for consumers in Frankfurt on July 6-7
Frankfurt is once again all about bicycles at the third consecutive Eurobike in the city. With 1,900 exhibitors in four halls on eight levels, 150,000 square meters of total space, an even longer test track with a gigantic range of tests, huge demo and hands-on areas, show stages and a ...
Thule continues to expand its European e-commerce presence
In early May, Thule successfully launched thule.com e-commerce in Poland, opening its 12th DTC store in Europe.
Leatt Q1 sales continue to decline, but inventories normalize
After a sales boom during the pandemic years, the shares of the South African manufacturer of protective equipment for motorized and non-motorized off-road two-wheelers Leatt Corporation (traded OTC in the US), like many others, have experienced a “down-to-earth” development in the post-Covid period. This continued in the first quarter of ...
Acquisition of Marucci cushions decline in Fox Factory's SSG bike product sales
Suspension specialist Fox Factory Holding Corp. announced that the company met expectations with a 16.6 percent decline in sales in the first quarter (compared to Q1 2023) to $333.47 million (€309.91m): all three of Fox Factory’s divisions suffered sales declines.
Garmin gains on positive results from fitness and automotive segments
Swiss navigation and fitness device manufacturer Garmin, in its seasonally lowest quarter of the FY, reported a 51 percent increase in Q1 operating income to $298.4 million from $197.0 million for the period ended March 30. Net income was up 36 percent year-over-year to nearly $276 million, and gross margin ...
Norwegian investor acquires Cake after bankruptcy
Espen Digernes, a Norwegian investor and CEO of Brages Bilforretning AS, a Toyota and Lexus dealership in Ålesund and Kristiansund, Norway, has acquired Cake, according to Swedish newspaper Breakit.
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 ...
Thule’s sustainability targets confirmed
The Science Based Targets initiative (SBTi) promotes ambitious climate protection measures in the private sector by allowing companies to set science-based targets for reducing greenhouse gas emissions. Thule Group’s targets for Net-zero have now been approved by the organization. This is an important endorsement of the company’s sustainability ambitions.
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 ...
E-motor upgrade for Oru kayaks
Oru Kayak, the original origami kayak brand now owned by Solo Brands, has presented the latest upgrade to its foldable fleet of kayaks: Electric motors. Developed in partnership with California-based Bixpy Motors, Oru’s e-propulsion system offers paddlers a unique electric-assist kayak in a lightweight package that is portable and easy ...
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 ...
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.
Cake opens showroom in Prague
Cake, the Swedish manufacturer of electric motorcycles, announced the extension of its global distribution network, with the Czech Republic emerging as one of the first European countries to join the significant export expansion. This development is a part of Cake’s strategic initiative to enhance its global presence and bring electric ...
GoPro acquires Australian motorcycle helmet company
GoPro has an agreement in place to acquire Forcite Helmet Systems, a New South Wales, Australia-based maker of tech-enabled motorcycle helmets that was co-founded by Julian Chow and CEO Alfred Boyadgis. Financial terms of the pending transaction were not disclosed. More details about the pending transaction, expected to close before ...