DENKENDORF, Germany - In a strategic acquisition, Pinion owner Bombardier Recreational Products Inc. (BRP), has acquired the FIT 2.0 business of Biketec GmbH from its owner, the German dealer cooperative, ZEG. The intention is to expand Pinion's portfolio in the core business of e-drives. The financial details of the BRP investment remains undisclosed.
GENEVA, Switzerland - The UN 'Decade of Sustainable Transport (2026-2035)' might give a boost to the promotion of cycling on a global scale. On behalf of the international bicycle industry, gathering at the World Bicycle Industry Association WBIA, Manuel Marsilio explored how this will give a follow-up to the Masterplan for Cycling Promotion.
PARIS, France - As reported by several Swiss media, Paris-based arbitration tribunal of the International Chamber of Commerce (ICC) handed down its verdict regarding Scott Sports SA (or Scott Sports Group) ownership. According to the ruling made on 6 February, Beat Zaugg, who is still co-owner of Swiss bike and winter sports supplier, is to cede his 47% stake in the company to majority owner Youngone Corporation.
HUTTWIL, Switzerland - As predicted, Flyer production is being relocated to ZEG's Kettler factory in Germany. Only a skeleton team for Swiss dealer support will remain at the Swiss site in Huttwil. They will remain alongside sister company Biketec GmbH with its connectivity solution FIT which has not been affected by the exodus, but only after intense negotiations.
HUTTWIL, Switzerland - The closure of production at Flyer in Huttwil is now a sad certainty. Following the conclusion of the consultation process, CEO Andy Kessler announced yesterday that at least 150 employees will soon be made redundant. The media only learned of this unfortunate pre-Christmas news via dealers and employees; owner ZEG has not disclosed any information.
HUTTWIL, Switzerland - The reorganisation plans for Flyer as announced last week by ZEG caused a big scratch on the image of the Swiss company which once stood at the forefront of the e-bike boom in Europe. Shortly before the announcement, CEO Andy Kessler discussed the inventory situation at Flyer and finding a way back to 'normal', but also their relationship with owner ZEG and the market dominance of Bosch during an interview with Bike Europe.
HUTTWIL, Switzerland - A big disappointment for the Swiss e-bike industry came forward yesterday when owner ZEG announced their future plans for the Flyer facility. In an ad hoc press release ZEG states their plan to largely close its long-standing site in Huttwil and possibly continue production outside of Switzerland.
OBERWANGEN, Switzerland - After 11 years at Stromer, co-CEO Tomi Viiala has decided to step back from the operational business and leave the company. The reason given is to "spend more time with his family, who live in Finland." Viiala will remain a shareholder of Stromer.
OBERRIED, Switzerland - Faster than expected, the Swiss retail group Migros has found a new owner for its Bike World chain of stores. Industry insider and jack-of-all-trades Thomas Binggeli has acquired most of the bicycle store chain via his investment company Thömus AG. The takeover will officially take effect in February 2025.
GIVISIEZ, Switzerland - After Scott Sports Group majority owner Youngone Corporation dismissed longstanding CEO Beat Zaugg with immediate effect at the end of March they appointed investment banker Juwon Kim as his successor. This was the starting point for a power struggle between longtime industry expert Zaugg and Youngone. Now the dust seems to have settled with the appointment of a CEO duo.
LAUSANNE, Switzerland - The final details on the motor-gearbox system developed by Saga Group will only be presented at the end of this year but their newest product was already on display at Eurobike. Their French production partner FAVI showed the Saga motor-gearbox as an illustration of their capabilities.
ZEIST, The Netherlands - Undeniably European e-bike sales took a step back last year. In 7 European countries which have already reported their market statistics for 2023, the total volume decreased by 8%, from 4,555,264 units in 2022 to 4,178713 last year.
OBERWANGEN, Switzerland - The confiscation of all e-bikes at the Opium brand stand caused a big noise at Eurobike last year. The reason was the patent lawsuit brought by myStromer AG against the Opium brand owner Revolt Zycling AG. The Federal Patent Court recently ruled in favour of Stromer. However, the defendant did not wait for this decision, but has already brought a modified design onto the market.
GIVISIEZ, Switzerland - The announcement by Scott Sports Group SA majority shareholder Youngone Corporation to lay-off its CEO and minority shareholder Beat Zaugg did not come as a surprise for industry insiders. Following the cash injection of SFR 150 million (€160.6 million) by Youngone last December, a reorganisation was inevitable.
Subscribers onlyAARAU, Switzerland - This Swiss bicycle market developed in 2023 in line with other European countries. After the sales peak in 2020-2022, the market volume dropped last year by 18%. While sales decreases were reported in all categories, it was the speed pedelec market that made strong gains.
OBERWANGEN, Switzerland - Despite overall stagnant or declining markets in Europe, myStromer AG, parent company of premium e-bike brands Stromer and Desiknio, bucked the general trend and continue to expand its market shares in the Netherlands and Belgium. In the challenging e-bike market in the US, the company achieved double-digit (consolidated) growth.
NUREMBERG, Germany - Following the sale of e-bike retail chain store M-Way from Swiss retail conglomerate Migros-Genossenschafts-Bund to Swiss E-Mobility Group AG (SEMG) in September 2019, the long-awaited move into Germany has now taken place. On 6 February the company celebrated the opening of its first M-Way store in Nuremberg.
SEOUL, South Korea - Scott Sports owner Youngone Corporation has granted its subsidiary a temporary financial injection of SFR 150 million (€160.6 million). The high inventory levels throughout the bicycle sector is tying up so much capital that even profitable companies like Scott Sports are in urgent need of capital to continue their daily operations.
