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.

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."

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.

MUNICH, Germany - Govecs Group, the Munich-based company behind the leading two-wheeler e-mobility solution, has filed for insolvency at the Munich District Court. Despite the supplier's recent production line opening in Poland and its strategic pivot to focus on its retro eSchwalbe moped brand, the company appears unable to sustain itself through 2026.

EDINBURGH, UK - Intra Drive, the United Kingdom-based e-bike component developer, has secured €600,000 toward an extended €850,000 seed round. The new capital will support the transition from pilot units to commercial production of its GD8 integrated gearbox powertrain. Since displaying at Eurobike in 2021, Intra Drive has focused on building a European supply chain and industrialising its e-bike motor unit with a multi-speed gearbox.

MUNICH, Germany - Sushi Bikes caused a sensation in 2019 when it whizzed onto the market with a direct-to-consumer business model and cool e-city bikes at affordable retail prices from €1,000. The initial success has now faded away, and Sushi Bikes joins the line of German companies that could not make it to the end of 2025.

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.

BRUSSELS, Belgium - E-bike brand Cowboy has officially been taken over by France's ReBirth Group Holding SA. The agreement signals a new phase for the Belgian brand, which will now fully lean on ReBirth's industrial and recapitalisation capabilities. The transaction includes a full financial restructuring with Cowboy's primary lender, providing a stronger balance sheet and a clean slate. Cowboy founder and CEO, Adrien Roose, has left the company.

VICENZA, Italy - A group of private strategic investors led by former Crankbrothers CEO Gaspare Licata has acquired a majority stake in Extreme Racing Shox (EXT), the Italian manufacturer of high-performance suspension systems for bicycle and motorsports applications. Under the new ownership structure, EXT plans to invest in new technologies and strengthen its distribution.

AMSTERDAM, the Netherlands - After a 25-year career, of which 15 years were in the role of CEO, Janus Smalbraak resigned at Pon to pursue a new professional challenge. Smalbraak announced this resignation at Pon in a LinkedIn post earlier today. Volkswagen Financial Services AG CEO Christian Dahlheim has been appointed to succeed Janus Smalbraak.

PARIS, France - On course to double sales in 2025, refurbished e-bike seller Upway, has received a financial injection of US$60 million (€52 million) in closing its Series C funding round. The company has now raised a total of US$125 million (€108 million) since its founding in 2021. The latest funding will facilitate new UpCenters in Europe and North America, expansion into five more countries and the launch of new digital services.

GDANSK, Poland - Polish manufacturer 7Anna Group and its brands NS Bikes, Rondo and Creme Cycles, may soon have a new investor, according to news buried in an Instagram post from NS Bikes.

AMSTERDAM, the Netherlands - The perceived relevance of trade shows is the next challenge the bicycle and e-bike industry is having to face since the start of this decade. Until the pandemic, the overall mood was positive and upbeat, but that's no longer the case, and it is difficult for the industry to get back on track. After the German industry associations ZIV and Zukunft Fahrrad questioned the purpose of Eurobike, the next challenge in the industry surfaced. How to communicate in the trade market? How is the transformation of the show landscape evolving? Time for a deep dive...

FRANKFURT, Germany - The dissatisfaction within the industry about the recent edition of Eurobike and the German industry association's decision to pull out, has prompted the show to change its leadership. Long-serving show manager Stefan Reisinger is making an exit, and will support the new management during a transitional phase. Will this change mark a turnaround from the industry organisations? "It makes sense that the Eurobike will be completely revised by 2027, and negotiations could begin at the beginning of next year, provided that the necessary conditions are met," confirms Burkhard Stork, managing director of ZIV.

BAUNACH, Germany - Despite its long-standing history and supplying to over 2,500 customers in more than 60 countries, Messingschlager's key activities were largely known only to industry insiders. In the past decade, the company expanded into various business fields, which became very distinct over time. "Demand from customers these days is so much more diverse than just a product at a competitive price," says Messingschlager CEO Christoph Bantle.

BRUSSELS, Belgium - The CONEBI and CIE merger has reached two important milestones this week, with the announcement of a new name and the election of the new board and president. The Confederation of the European Bicycle Industry (CONEBI) and Cycling Industries Europe (CIE) will be renamed as European Cycling Industries, as decided last weekend during an extraordinary general meeting. This announcement marks the start of the new organisation representing the bicycle industry in Europe.

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?

GRENCHEN, Switzerland - Swiss bike manufacturer BMC Switzerland AG, with its brands BMC, Scor and Adicta Lab has communicated a CEO change at the start of next year. On 1 Jan., BMC's Chief Sales Officer (CSO) John Glett will be promoted to Chief Executive Officer (CEO). He will succeed David Zurcher, who is ending his 12-year tenure at the top.

PARIS, France - This was the question looking to be answered at the recently held Summit Series in Paris, supported by CIE's Women in Cycling expert group. The event, focusing on the retention and recruitment of women in the bicycle industry, hoped to 'lead the change' in correcting the current imbalance in the sector. With cross-spectrum representatives from industry and academia present, the conclusion was that progress is slow, and opportunities are being missed.

GIRONA, Spain - Accell Group has appointed William Perrier as managing director for Southern Europe in a role that was cut a couple of years ago. The renewed focus on the region is part of the group's strategy aimed at accelerating its development in the key markets of France, Spain, Portugal and Andorra. Perrier was presented at Sea Otter Europe as the man to boost the sales of Accell brands Lapierre, Ghost, Winora and Haibike, which are at the core of sales in the region.

EINDHOVEN, the Netherlands - Shimano announces that Marc van Rooij, president of the Shimano Europe Group, will leave the company by the end of 2025. Van Rooij has worked at Shimano for over 34 years in various management positions, including Shimano Benelux, Shimano Europe and Shimano Europe Holding. He has been president of the Shimano Europe Group since 2009.