NEW YORK, United States - Fitch Ratings has reaffirmed Accell Group's long-term credit rating at 'CCC', indicating that the company remains under significant financial pressure. While Accell is making progress in its turnaround, its current position is still fragile, mainly due to weak market conditions, high debt levels and limited cash generation, the agency determined.

GIVISIEZ, Switzerland - What a "gift": Just before Christmas, the arbitration tribunal of the International Chamber of Commerce (ICC) in Paris confirmed that long-time patron Beat Zaugg must definitively sell all his Scott Sport shares to majority shareholder Youngone Corporation. At the same time, it set the (provisional) value of the package at around CHF 20 million (€21.5 million), the Swiss platform CH Media reported. This (almost) seals the deal in this spectacular power struggle.

ZEIST, The Netherlands - It became apparent within the first few months of the year that 2025 would not be the turnaround year the bicycle industry needed. A muted Taipei Cycle show made clear that the supply chain was nowhere near back to being in full swing, and despite reasonable spring sales, the European market retracted again in the summer. Business-wise, there were reports of insolvencies, closures and redundancies. Knocks came from all sides: tariffs, human rights accusations, and very public non-alignment within the industry itself on several topics. However, pockets of innovation and newcomers managed to shine through, reminding the industry that its products are well-positioned for the long term. As the industry looks to realign and prepare for 'the fix in 2026', Bike Europe looks back at the articles that shaped 2025.

LUDHIANA, India - After Indian powertrain giant Hero Motors Ltd. withdrew its planned initial public offering (IPO) in October 2024 on short notice, a new attempt was made for 2026. Although no specific opening and closing dates or price band have been set at this time, the automotive supplier is expected to list this year, 2026. The company's high-profile partnerships with well-known e-bike brands have solidified its relevance in the e-bike world as a drivetrain manufacturer.

TAIPEI, Taiwan - Merida Industry Co., Ltd. reported an 8.5% year-on-year decline in consolidated revenue to NT$21.8 billion (€610 million) for the first three quarters of 2025, as weakening demand across Asia continues to weigh on the Taiwanese manufacturer's performance. Net profit for the parent company fell 18% to NT$1.44 billion (€39.5 million) during the same period, while earnings from associates, including Merida's stake in Specialized, contributed NT$511 million (€14 million).

BUDAPEST, Hungary - Olimpia Bicycle Ltd, the long-standing Hungarian producer behind the Gepida brand and recognised OEM supplier in Central and Eastern Europe, has announced it will cease operation. Partners were informed on 18 November that the company will enter liquidation and will not continue under a legal successor.

For many in the bicycle industry, the third quarter financial results make uncomfortable reading. Despite optimistic signs in the first and second quarters, most Q3 results show that attaining financial stabilisation is still out of reach. As revenues drop, repeated streamlining and cost-cutting measures are being taken to ensure the health of companies in the bicycle industry supply chain. This sentiment is also echoed in the second results of the Global Bicycle Purchasing Index (GBPI), a new initiative between Bike Europe, Eurobike and IFH Koln.

FRANKFURT, Germany - Having been in the hands of Brockhaus Technologies AG for the last four years, Bikeleasing Service GmbH has been sold to the investment arm of French retail giant Decathlon. With this step, BLS is looking to create a strong basis for further growth as well as the targeted international expansion of its successful company bike leasing model. Having tripled revenues under Brockhaus ownership, the purchase agreement provides for an enterprise valuation of Bikeleasing of €525 million according to Brockhaus.

TALINN, Estonia - "One of the most important mobility tools of our time, affordable, sustainable, and perfect for modern cities, is stuck in an analogue mindset. The cycling industry keeps polishing mechanical parts while the rest of the world has moved on," connectivity specialist Comodule wrote in a recent blog. The company laments at how e-bikes are creating a smoother commute, "but the bike itself is disconnected and largely dumb."

BAD HOMBURG, Germany - Existing minority shareholder, SKion GmbH has acquired "two significant business units" from the BMZ Group. BMZ Holding GmbH and BMZ Germany GmbH faced uncertainty when a sudden disruption in the customer base and subsequent legal proceedings led to an immediate financial challenge for the lithium-ion battery manufacturer. The acquisition is subject to approval by the antitrust authorities.

MUNICH, Germany - Following the successful launch of the trade-in portal in e-bike refurbisher Rebike Mobility GmbH's own flagship stores in Frankfurt and Munich, the onboarding of other major IBDs is now beginning. While the nationwide rollout is in preparation, an international scaling is already in the pipeline.

WASHINGTON, DC, United States - The number of bicycles imported into the United States in the first nine months of 2025 dropped 23% year-on-year. Looking specifically at China, imports from there have dropped by 40% amid tariff uncertainty throughout the year. Taiwan and Cambodia have made volume gains of 10% and 83% respectively. The latest import data provided by the US International Trade Commission shows that the face of the US bicycle market is already changing as a result of President Trump's 'America First' nationalist policy.

AMSTERDAM, the Netherlands - The Dutch bicycle market has enjoyed favourable market conditions throughout the year. According to the third-quarter report from the benchmark group of H&L Accountancy, the average retail revenue in the Netherlands increased by 5.4% compared to the same period last year. It is probably not the best quarter of the year, but the market is still buoyant.

BRUSSELS, Belgium - The ongoing market and inventory issues have seen the total number of e-bikes imported into the European Union drop 13% in the first nine months of this year, compared to the same period last year. Eurostat's latest data also shows a 14% decline in value. Similarly to 2024, in Q3, China has taken the top spot from Taiwan as the leading EU e-bike supplier. But with a difference of just 341 units, there can be no talk of Chinese dominance in Europe - yet.

MADRID, Spain - Following a slow start to the year, bicycle production is set to decline in Spain in 2025. The country produced a total of almost 220,000 bicycles in the first nine months of 2025, a 10% drop compared to the same period last year. Totalling €179 million in value, this represents a considerable decline, according to official data published by the Ministry of Industry and Tourism. The data for Q3, however, shows the most promising signs of a revival.

HEERENVEEN, The Netherlands - The final Batavus bicycles have rolled off the assembly line in the Netherlands, marking the end of an era for the Accell Group as it opts for centralised production in Hungary. It also marks the end of 45 years in the bicycle industry for Accell stalwart Menno Visser, who is now retiring. Having started at Batavus on the assembly line, he worked his way up to commercial director and spent the past years as a project manager at Accell. In an exclusive interview, he reflects on industry changes and his vision for the future.

FONZASO, Italy - Fashion in cycling apparel and bicycles has long taken a different path, if only because the life cycle and price range of both categories are far apart. Still, there are a lot of parallels, only because the audience is the same. How do both worlds interact, and how can they strengthen each other? Castelli product line manager, Andrew Montgomery, took a deep dive into Castelli's market approach and how the fashion world interacts with its brand strategy.

AMERSFOORT, the Netherlands - The new European Union guidelines on battery repairs will soon take effect, but whether the bicycle industry is sufficiently prepared remains to be seen. NOWOS founder Prins Doornekamp said he is surprised by the limited knowledge among both manufacturers and bicycle retailers.

LA MASSANA, Andorra - The mountain bike brand Commencal is celebrating its 25th anniversary this year. Started in 2000, founder Max Commencal focused on designing and producing high-quality bikes, particularly for gravity-focused mountain biking disciplines. How does Max perceive the market today, and what can we expect from this Pyrenean mountain biking pioneer?