Jo Beckendorff

DULUTH, Georgia - In view of the current problems in the global market, Fox Factory Holding Corp.'s Q1 net sales met expectations; a 16.6% drop to USD 333.47 million (€309.91 million) compared with 2023. Bicycle product sales under the Specialty Sports Group (SSG) umbrella couldn't stop the downward trend but were nearly offset by the sales integration of recently acquired Marucci Sports.

DRESDEN, Germany - Encouragement can be found in German e-commerce bike, running and swimming sports retailer Bike24 Holding AG's first quarter results. Here, an expected return to growth with improved profitability as well as an impressive growth in Bike24's relatively young Benelux country markets can be seen.

WELS, Austria - According to stock-listed Pierer Mobility AG's e-bike subsidiary Pierer New Mobility (PNM) the developments in the bicycle market prompted them to implement a strategic realignment in 2023 already. Now PNM-Germany MD and Sales Manager DACH Bernd Lesch left the company at the end of April at his own request, the company has taken the chance for a reorganization of the management with an in-house solution.

BUDAPEST, Hungary - After securing the intellectual property of insolvent Hagen Bikes AS the Estonian Springdrive is relocating the cargobike production and sales to its wholly-owned Hungarian D2C e-bike manufacturer Blurby Kft.

PONTEDERA, Italy - The new Ministry of Enterprise and Made in Italy which has been established by the current Italian government, has approved a development contract submitted by the domestic two-wheeler giant Piaggio Group. The contract includes an investment plan of around €112 million for the expansion of production at the Piaggio plant in Pontedera in the province of Pisa, Italy.

MUNICH, Germany - After quickly realizing not to be able to find a buyer for the entire insolvent Internetstores Group the appointed insolvency administrator Dr. Christian Gerloff started selling key assets of the former online retail giant. This process has now been finalised. "All of Internetstores GmbH's key brands now have the chance to restart under new ownership," confirms Gerloff.

LEIPZIG, Germany - Following a brief takeover by Tier, European rental bike market leader Nextbike is back on the market as an independent company under its own name. At the same time, a comprehensive rebranding will complete the new independent brand identity.

VIENNA, Austria - Even though the Austrian 2023 bicycle market recorded a double-digit drop in both volume and value sales compared to the previous year, there are several positives to point out. Sales topped €1 billion for the third consecutive year in a row and e-bikes now account for three quarters of the market value. Leasing and investments in cycling infrastructure are also positively influencing the market.

REGAU, Austria - Contract manufacturer WSF Bicycle Technology GmbH applied for insolvency on 24 April. The challenging market situation in the bicycle industry has resulted in financial problems for yet another company.

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.