GROSSHELFENDORF, Germany -Fritzmeier Group, the parent company of niche carbon e-bike manufacturer M1 Sporttechnik GmbH, has fallen victim to a criminal cyber-attack. Production is currently operating in emergency mode. This follows a similar cyber-attack on the Prophete Group, which ultimately contributed to its insolvency.
AMSTERDAM, the Netherlands - The trendy Amsterdam based brand VanMoof has seen its turn-over hike since 2017. A strong global branding made it an attractive investment for private equity. But VanMoof has also experienced the back side of the current supply chain problems, just like many others in the industry.
KLOSTERNEUBURG, Austria - The Hong Kong-based family-run trading and logistics company Jebson Group has stepped into Austrian kids and juvenile bicycle supplier Woom GmbH. The additional capital will be used for further expansion in existing and new markets.
MORGAN HILL, US - The announcement that US brand Specialized is saying goodbye to 8% of its global workforce, is a new sign that the bike industry has a turbulent few months ahead. European lay offs have been confirmed by the company, but no specific details are given.
REDDITCH, UK - In its latest financial statement, UK bicycle retailer Halfords reports that cycling sales have dropped to pre-covid levels. Despite stating that "overall revenues are outperforming the market," the cycling division is down 20% year on year to date.
CHANGHUA/TAICHUNG, Taiwan - As 2023 begins, Taiwan's second and third largest bicycle producers Merida Industry Co. and Ideal Bike Corporation are announcing important changes at top level management in the company.
MUNICH, Germany - The events of 2022 had a huge impact on financial markets; it was a disastrous stock market year. The pandemic was barely halfway over when Vladimir Putin launched his crucial attack on Ukraine. The war disrupted the global energy and food markets but also led to high inflation in Europe. How are the listed e-bike and bicycle industries affected?
ROTTERDAM, the Netherlands - The Shift Cycling Culture initiative motivated the industry to start talking about sustainability. In the meantime a long list of CEOs and company owners signed the industry-wide climate commitment. "Also the bicycle industry has a responsibility to cut CO2 emissions," says Erik Bronsvoort, director of Shift Cycling Culture.
FREIRACHDORF, Germany - Customised bike specialist Müsing has hired two industry veterans to realign its corporate strategy. Ralf Barthel and Tanja Barthel have joined the team as CSO and COM.
FRANKFURT, Germany - Private equity company Brockhaus Technologies acquired a majority stake of around 60% in Bikeleasing in July 2021. The German company which supplies business bikes for employers, employees and those self-employed has now helped its new owner set sales records in the first three quarters of 2022.
