Industry News
DULUTH, Ga. (BRAIN) — Revenues in Fox Factory’s bicycle-related businesses were up 35% in the first half of the year compared with the same period last year. Sales in the division, which includes business under the Fox suspension, Easton, RaceFace and Marzocchi brands, totaled $348 million.
TAIPEI, Taiwan (BRAIN) — Giant Group announced its first half consolidated sales were NT$45.01 billion ($1.5 billion ), a 7.2% increase over the first half last year.
SAN MATEO, Calif. (BRAIN) — GoPro Inc. second-quarter revenue grew slightly year-over-year, while the sport camera brand reported a 65% jump in subscribers during the period.
LOS ANGELES (BRAIN) — The parents of a 12-year-old girl who later died from injuries suffered while riding as a passenger on a Rad Power Bike in 2021 filed a wrongful death suit Monday against the Seattle brand and helmet-maker Giro Sport Design.
OTTOBRUNN, Germany (BRAIN) — Porsche announced it will develop an e-bike drive system in the next few years, collaborating with Pon Holdings' Ponooc Investment B.V.
GOLDEN, Colo. (BRAIN) — Feedback Sports will move to a new and larger location nearby that's nearly double the size and expected to be open by Sept. 1.
WASHINGTON (BRAIN) — The Inflation Reduction Act of 2022, announced after a surprise agreement this week between Sen. Joe Manchin III and Senate Majority Leader Charles E. Schumer, does not contain an electric bike tax credit and other bike-related measures included in President Joe Biden's original Build Back Better Act.
OLNEY, Ill. (BRAIN) — KHS Bicycle Parts, which was founded 50 years ago by Karl Heinz Schaette, will close its doors next month.
KOBLENZ, Germany (BRAIN) — Canyon Bicycles announced Friday that two investment groups have taken "strategic equity investments" totaling $30 million in the Germany-based company.
PORTLAND, Ore. (BRAIN) — Days after an announcement that the North American Handmade Bicycle Show is postponed for this year, a variety of framebuilders and other industry sponsors say they are committed to a new show to be held in Portland in September next year.
ANOKA, Minn. (BRAIN) — Vista Outdoor reports that its sales grew 21% in its fiscal first quarter, mostly due to a double-digit sales increase in its Sporting Products division, which includes its ammunition brands. In its Outdoor Products division, which includes the bike-related brands Bell, Giro, Blackburn, CamelBak, and QuietKat, sales were down 2%.
ANOKA, Minn. (BRAIN) — Vista Outdoor has agreed to acquire Simms Fishing Products, a Montana-based sports fishing gear brand.
MILAN (BRAIN) — Investment holding company Italmobiliare is acquiring the cycling and motorcycling footwear company Sidi Sport for 66 million euros ($66.8 million).
OLATHE, Kan. (BRAIN) — Decreased demand in cycling and advanced wearable products led to a 6% year-over-year revenue decline for Garmin Ltd. in the second quarter.
OSAKA, Japan (BRAIN) — Shimano Inc.'s bike-related sales were up 17.2% in the first half of the year compared to the same period last year, while the company's operating income in its bike segment increased 20.2%.
AMES, Iowa (BRAIN) — Messingschlager USA acquired U.S. distribution rights to KTM Bike Industries.
EATONTON, Ga. (BRAIN) — The North American Handmade Bicycle Show, which has not been held since 2019 because of the pandemic, is postponing its planned 2022 show due to lack of interest from exhibitors. The organizer says the show will be back for 2023.
(BRAIN) — Fitness wearable maker Whoop and e-bike brand Rad Power each had layoffs this week.
STOCKHOLM (BRAIN) — Thule Group reported a year-over-year 2.6% net sales increase, saying global supply chain challenges, the Russian invasion of Ukraine, and raw material price increases continue to affect its operations.
STOCKHOLM (BRAIN) — MIPS' second-quarter net sales increased 45% year-over-year with the Sport category driven by snow helmet demand and less by bike helmets.
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