Jo Beckendorff

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.

STUTTGART, Germany - In less than a month after the Fraser Group announced the takeover of Wiggle and Chain Reaction, the UK online business of Signa Sports United, the insolvency administrator reports the acquisition of a part of the German online business of former giant Signa Sports United. The new owner of the platforms Fahrrad.de and Bikester is Koehler Group Holding GmbH.

SCHRAMBERG, Germany - hGears AG, the European precision e-bike transmission parts and components manufacturer, reports a 16.9% year-on-year decrease of its 2023 consolidated revenue of € 112.5 million. hGears faced an extremely challenging years in its e-bike business.

ANNECY, France - There is a new face at the helm of French component manufacturer Mavic. Having worked with Jean-Michel Bourrelier for more than five months, Alberto Morgando officially took over the position of managing director on 20 February.

VITORIA-GASTEIZ, Spain - Bicicletas Mendiz S.A. is one of several bicycle manufacturers from the Basque Country. It was founded by a former professional road racing cyclist. Since 2018 the niche brand has been in the hands of six Basque private investors. Thanks in part to a growing export business, the company has been able to double sales in recent years. However, the current annual production is still just 3,500 units.