Last year Giant managed to temper their sales decline to 7.4%. – Photo Giant Group

Giant Group tempers decline in revenue amidst destocking industry

TAICHUNG, Taiwan - In an attempt to improve the financial situation, bicycle manufacturers massively tried to lower their inventory levels even when it came with huge discounting. Giant Group managed to mitigate its decline in turnover to 7.4% as the company's 2024 monthly revenue report shows. This is compared with a decrease of 16.4% in 2023.

Since assuming the role of Chairperson in 2017, Bonnie Tu has driven the group's digital transformation and strategically established manufacturing facilities in Hungary and Vietnam. - Photo Giant

Giant Group appoints new management team as Bonnie Tu retires

TAICHUNG, Taiwan - Giant Group will start 2025 with a new executive leadership team following the announcement that long-standing chairperson Bonnie Tu will officially retire. The Group's board of directors has approved the appointment of current CEO Young Liu as the new Chairman. The current chief branding officer Phoebe Liu has been promoted to CEO. These changes will take effect January 1, 2025.

Giant Group’s ESG efforts throughout 2024 have been rewarded with the DJSI listing and a manufacturing award from the Ministry of Economic Affairs. – Photo Giant Group

Giant Group setting ESG standards with DJSI index listing

TAICHUNG, Taiwan - In recognition of its ESG activities, Giant Group has joined the Dow Jones Sustainability Indices (DJSI) Emerging Markets Index, making it the first company in the bicycle industry to have this distinction.

“Order placement by both retailers and OEM customers remain much conservative, hence affecting sales recovery,” reports Giant Group. – Photo Bike Europe

Giant Group sales recovery taking longer than expected

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.

The main purpose of the acquisition for Giant Group is to expand their business footprint in the indoor cycling field. – Photo Stages Cycling

Giant Group acquires Stages Cycling

TAICHUNG, Taiwan - Giant Group has announced the takeover of Stages Cycling from its owner companies, some of which filed for Chapter 11 bankruptcy protection in June. Giant Group's US subsidiary, SPIA Cycling Inc. finally got hold of Stages Cycling with a winning bid of US$20.1 million (€18 million).

Phoebe Liu, Chief Branding Officer of Giant Group, accepted the award on behalf of the company. – Photo Giant Group

Giant Group receives prestigious environmental protection award

TAICHUNG, Taiwan - As the country's first bicycle manufacturer, Giant Group has been honored with the bronze award at Taiwan's 6th National Enterprise Environmental Protection ceremony. Phoebe Liu, Chief Branding Officer of Giant Group, accepted the award on behalf of the company.

  1. Giant Group consolidated revenue down 12.6% in first half of 2024
  2. Giant Group debuts recycled carbon technology in concept push bike
  3. Light at the end of the tunnel for Giant Group's revenue decline
  4. China Cycle Show will highlight shift to digitalised industry
  5. Giant Group revenue pushed up by Chinese market
  6. Giant benefits in Europe with integrated e-bike solutions and service
  7. Merida 2023 sales shifted down sharply in line with market trend
  8. ESG implementation takes crucial steps in Taiwan
  9. Taiwan's top 3 face further sales and profit slumps in Q3 results
  10. Giant reports: China compensates for bike slump in the Europe and US
  11. IPO for Giant Group subsidiary in Shanghai rejected
  12. Giant Group and Stages Cycling fail to reach mutual consensus
  13. Giant Group's Q1 results decline due to high inventory levels
  14. 12.5% growth for Giant Group in 2022; outlook remains solid
  15. Giant Group takes minority stake in Stages Cycling
  1. 2022 comes to an unnerving close for the bike industry
  2. Giant's inventory problem raises an industry-wide problem
  3. Sustainable moves: Bonnie Tu on sustainability goals of Taiwan industry
  4. Giant Group continues to grow in Q3 despite challenges
  5. Giant Group eyes sustainable future during 50th anniversary
  6. Giant Group spearheads Taiwanese bicycle industry sustainability alliance
  7. Giant Group reports sales record in second consecutive quarter
  8. Leading German concept store swaps Specialized for Giant
  9. Giant Group's e-bike sales reach 26% share in record Q1 sales
  10. European General Court withdraws anti-dumping duties for Giant Electric Vehicle Kunshan
  11. Giant Chairperson Tu expects prolonged supply chain problems
  12. Record sales continue for Giant Group with 2021 profits up 20%
  13. Unsteady supply chain impacts financial results of Giant and Merida
  14. Giant veteran Willem Buitenhuis retires
  15. Giant Group first 3Q-2021 reaches new sales and profit records