BRUSSELS, Belgium - In what it calls "a strategic move to further strengthen its governance", e-bike brand Cowboy has appointed two senior industry figures to its leadership team. Harpreet Singh Rai, former CEO of health tech wearables company Oura, will now serve as a board member and Kevin Cornils, former COO at Peloton joins as strategic advisor.
AMSTERDAM, the Netherlands - An interim report by the VanMoof administrators paints a clear picture of the financial drama which took place this summer. After the mega loss in 2021 not much is left for the creditors.
STOCKHOLM, Sweden - Swedish cycling and sports equipment group WeSports Scandinavia AB has acquired a stake in compatriot Thevea Brands Group AB. The aim is to strengthen its distribution network across the Nordics market.
WELS, Austria - In a remarkable move, Pierer Mobility AG has decided to focus on its core business of Powered-Two-Wheelers and to concentrate on its premium brands KTM, GasGas and Husqvarna as well as MV Agusta. As a consequence, the non-e-bike segment, including Felt is disinvested.
PORTSMOUTH, UK - Recent developments at WiggleCRC have taken a dramatic course as the company announced it will close down all its international activities. Once at the forefront as 'the' example of how to operate a global webshop, the company has lost its momentum on the overseas markets.
DEERFIELD BEACH, USA - LEV Manufacturing, formerly known as Life Electric Vehicles, and Lane VC have announced the acquisition of Serial 1 Cycle Company, LLC. Serial 1 as a brand was established in 2020 as an independent brand of Harley Davidson.
AMSTERDAM, the Netherlands - Qwic was always known as one of the early innovators in the e-bike market in the Netherlands. According to Qwic an unexpected tax bill made brand owner Hartmobile decide to apply for insolvency in self-administration last week, followed by a bankruptcy this morning. This decision will also impact the start of the new automatic frame production line at VDL in Breda, the Netherlands.
SCHRAMBERG, Germany - German precision gear and component manufacturer hGears AG reports a consolidated revenue of €84.1 million from January until October, a year-on-year decline of 18.8%. This decline is attributable to market difficulties for the e-mobility as well as the e-tools division.
MONTREAL, Canada - As part of the company's international business growth strategy, Argon 18 has appointed Patrick Flaherty as chief revenue officer (CRO). Flaherty has over twenty years' experience in the cycling industry, most recently at Specialized.
EASTWOOD, England - Citing a challenging market, UK bike manufacturer Raleigh is cutting jobs and relocating its headquarters. The measures are also being taken "to better integrate Accell UK into the wider Accell Group."
