Jan-Willem van Schaik

MADRID, Spain - The mismatch between supply and demand has hit the Spanish bicycle industry very hard. Significant stockpiling has been taking place at both distributors and stores. This situation has not been balanced out yet as the 2023 market statistics show. Still, the Spanish industry association AMBE who presented the market data is still confident about the future market. AMBE also noted that 2024 will still be a difficult year for the industry.

PHNOM PENH, Cambodia - The group of five bicycle making companies in Cambodia are quickly losing ground on the international bicycle market. Once moved quickly from Vietnam to Cambodia for beneficial import rates at its main markets years ago, it is now rapidly losing market share to China, Taiwan, Bangladesh and Sri Lanka.

DULUTH, Georgia - Fox Factory Holding started 2024 with a net sales drop of 16.6% to $333.47 million (€309.91 million) compared with 2023. In a move signaling confidence in the company, Michael Dennison, the chief executive officer of Fox Factory Holding Corp has purchased shares of the company's stock amounting to a total of $498,375.

HEERENVEEN, the Netherlands - The uncertain pace of the reorganization to restore its profit (EBITDA), the excess inventories in the market and weak consumer demand, and a deep-discount environment made Fitch Ratings decide to downgrade Accell Group from CCC to CCC-. According to the credit rating agency, "the weak operating performance, tight liquidity and negative free cash flow results in unsustainable credit metrics."

BERINGEN, Belgium - As a very well-known performance brand, Ridley Bikes has been visible in all top level road race competitions for the past two decades. Owner Belgian Cycling Factory, who also holds the labels Eddy Merckx and Corsa, is now building an international European organisation to capitalise on its successful business model.

FRANKFURT, Germany - A total of 43 innovative products and projects in the bike and future mobility sector will be honoured during the Eurobike Award ceremony on 3 July. Another 12 will receive a special distinction. Around 300 submissions from 35 countries were assessed in a multi-stage selection process in 9 categories according to criteria such as design, level of innovation, manufacturing quality and value for money.

BREDA, the Netherlands - VDL Groep's announcement to open the next bicycle frame factory in Europe last year, was more than welcomed by the industry. Frame manufacturing is the key element for bicycle production close to the market and for a long time regarded as one of the most complex parts of a bicycle to manufacturer in Europe on a large scale.

FRANKFURT, Germany - Three successful editions of the 'Eurobike investors lounge' prompted organizer Kindermann Value Creation to launch a wider and more in-depth program for this year. The presentations are primarily geared towards the interests of the guests, who are mainly made up of representatives from leading private equity funds and family offices.

ZEIST, the Netherlands - Retail sales between January and March 2024 in the Netherlands partly recovered from the strong decline the market experienced in 2023. Turnover increased year-on-year by 5.2% in the first three months of 2024. In the same period last year, revenue was still down by 10% mainly as a result of the sales hike in 2022 shows the benchmark of H&L Accountancy and Tax.

SUZHOU, China - The official accreditation of the Bafang Laboratory Center by the China National Accreditation Service for Conformity Assessment (CNAS) confirmed the successful creation of world-class professional testing laboratory for two-wheel drive systems. The component manufacturer is investing substantially to expand its market position. "The industry needs to regain confidence to restart the market again," Bafang President and CEO Qinghua Wang told Bike Europe on a recent visit.