EINDHOVEN, the Netherlands - Adaptable tyre pressure technology firm Gravaa has ap-pointed John Zopfi as its new chief commercial officer. With more than 20 years of experi-ence in outdoor and cycling industries, Zopfi took up the role earlier this month after spend-ing the past six years at 7mesh Industries where he most recently served as general manager for global wholesale.
OFFENBACH, Germany - Rumours had been swirling recently that another Germany e-bike manufacturer was facing financial problems, and this was confirmed yesterday when Advanced Bikes GmbH officially filed for insolvency. This insolvency reflects the problems the European industry is currently facing.
CHANGHUA, Taiwan - In the first three sales quarters of the current 2024 financial year Taiwan's second-largest bicycle manufacturer Merida Industry Co. Ltd. generated total revenue of TWD 23.8 billion (€695 million). Compared to the first nine months of the previous year, this is a good increase of 5.8% in a persistently difficult and challenging environment.
SCHAMBERG, Germany - High-precision transmission parts and components manufacturer hGears AG continues to suffer not only from the automotive crisis, but also from the e-bike business segment's sluggish destocking. In the first nine months of the current 2024 financial year, it had to digest its biggest sales drop.
DRESDEN, Germany - Online retailer Bike24 reports a year-on-year revenue increase of 2.9% to €62.89 million from July to September 2024. In this quarter the category fully assembled bicycles saw a 6% revenue growth to an all-time high of €13.4 million. According to Bike24, "this is the result of our choice for a large brand portfolio and attractive price points."
ROSSANO VENETO, Italy - Performance brand Wilier Triestina is adding to its expansion strategy in the Asian market. Youn Live, a Taiwanese company with which Wilier has worked for many years as a client and which was fully acquired in 2021, is being transformed into a strategic and logistical hub, becoming the centre of the brand's development in Asia and Oceania.
TAICHUNG, Taiwan - Mid 2024 Giant Group's sales trend seemed to have found a way up again, but this turned out to be only a short-lived revival. In July, Giant still expected operations to improve gradually, but the financial report published yesterday of the Q1-3 results show that a full recovery takes longer than expected.
NUNSPEET, The Netherlands - Dutch e-bike brand Stella has been declared bankrupt, the appointed administrator Frans van Oss has confirmed. Coming quicker than expected, the bankruptcy follows the request for a delay in payments last week. Now all eyes are on a possible restart of the financially troubled e-bike manufacturer.
DULUTH, USA - It's not only the inclusion of recently acquired Marucci Sports' revenue boosting up suspension expert Fox Factory Holding Corp.'s Sports Specialty Sports Group (SSG) third quarter sales. SSG's bicycle product sales under the Easton Cycling, Fox, Marzocchi, Race Face, Ride Concepts brand names are also impressively bouncing back.
HEERENVEEN, the Netherlands - Accell Group can proceed with the restructuring of its financial position as it secured sufficient support from its key stakeholders. "The implementation of the recapitalization will create a sustainable financial and operational platform to execute our strategy," reported the company today. "Approximately 80% of our senior term and revolving facility lenders have committed their support for the recapitalisation, while other key creditors unanimously back the plan."
REDDITCH, England - With a current strategy of "controlling the controllables," the UK's largest bicycle retailer Halfords continues to face challenging conditions. With poor weather conditions in spring and summer affecting sales, the retailer failed to meet pre-COVID sales levels in its cycling department in the first 26 weeks of the current financial year which started 1 April.
LILLE, France - Decathlon Pulse, the investment arm and start-up studio of retail giant Decathlon, and Rebike, well known in the DACH region (Germany, Austria and Switzerland) for the refurbishment and sale of second-hand e-bikes, have teamed-up through an investment to boost refurbished e-bike sales in Europe.
TAICHUNG, Taiwan - Folding bikes stood at the heart of Tern Bicycles when the company started in 2011. However, over the years, they have evolved into a supplier of transportation bicycles in any kind of form. "We even created the new category compact cargo bikes, which are in our vision more practical in future cities," says Tern team-lead Joshua Hon.
