PONTEDERA, Italy - Italian two-wheeler and commercial vehicle supplier, the Piaggio Group has reported consolidated net sales of around €1.31 billion in fiscal 2020, down 13.6% year-on-year. The "disappointing" sales are attributed to corona-related closures and not profiting from the following peak.
KLOSTERNEUBURG, Austria - Founded only in 2013, Austrian kid and juvenile bike supplier Woom has made a name for itself not only in the German-speaking world. With the entry of a group of investors Woom founders and CEOs Marcus Ihlenfeld and Christian Bezdeka now have fresh money on board. This investment will help to grow further in- and outside Europe.
EINDHOVEN, the Netherlands - Shimano's second-generation e-MTB system comes with a full line of features. The component manufacturer targets the EP8 for a wide range including premium mountain biking and competition racing to trail riding, cross-country, casual MTB, trekking and off-road adventuring. However, when the new drive system will be available to the market is still unknown.
IDSTEIN, Germany - Storck Bicycle GmbH celebrating its 25th anniversary this year took a new 50% shareholder on board. Company founder and managing director Markus Storck sold 25% of his shares to investor Stefan Lohwasser. He also acquired Decathlon's 25% share in Storck Bicycle.
CORK, Ireland - Mapil Topco, owner of internet only giant WiggleCRC, has posted a pre-tax loss of GBP 132.5 million (€ 157m) for the trading period of the 52 weeks to December 30th 2018. The suffered loss is despite the fact that sales at the group rose 15 percent to GBP 453 million (€ 537m) with underlying profits of GBP 14.2 million (€ 16.8m).
SCHWEINFURT, Germany - Last September the board of directors of KTM Industries AG already proposed to change its name to Pierer Mobility AG to end the confusion on the company and brand name with KTM Fahrrad GmbH.
FRIEDRICHSHAFEN, Germany - Messe Friedrichshafen has decided not to go ahead with the premiere of its new OUTDOOR Friedrichshafen show scheduled for 17 to 19 September 2019 and to postpone the new format.
The company started only two years ago under the names KL Cycling. KL stands for Kavulungan; a name that is also printed on the company's carbon rims. Kavulungan comes from Pingtung which is a Taiwan paradise for bicycles.
NUNSPEET, the Netherlands - The introduction of new business models on the Dutch retail market was disruptive for the regular IBD business in the past years. Especially the rapidly expanding e-bike market attracted many new brands, webshops and start-ups launching new sales concepts. One of them was Stella e-bikes.
HEERENVEEN, the Netherlands - Ruben Baldew was appointed CFO and member of the Board of Directors at Accell Group after last week's Extraordinary General Meeting of Shareholders. As of 1 November 2018 , the Board of Directors will have three members: Ton Anbeek (CEO), Ruben Baldew (CFO) and Jeroen Both (CSCO).
OSAKA, Japan - The company's financial results for the first nine months of 2018 do not show it evidently. However, in the explanation of the results Shimano says, "In Europe, with the stable weather continuing through the summer season, retail sales of completed bicycles, mainly sport e-bikes, stayed robust."
REDDITCH, UK - Halfords' latest financial summary for the first 20 weeks of 2018 has shown an increase in cycling revenue of 0.8 percent like-for-like. The company reported a good peak summer period following the poor weather at the start of the year.
PONTEDERA, Italy - The iconic Vespa scooter gets electrified. This month Piaggio Group (owner of Aprilia, Derbi, Gilera, Moto Guzzi, Piaggio and Vespa) starts series production of the 'Vespa Elettrica'. Sales (online only) starts in October at a dedicated webshop.
LUDHIANA, India - India's Avon Cycles is expanding the production capacity at its mother plant in Ludhiana by some 50 percent.
REDDITCH, UK - Despite poor summer weather and uncertainty on the British economy, Halfords UK reports a 7% increase in cycling sales to GBP 245.5 million
PARIS, France - Founded in 1903, the company Velox has been restructured completely since Patrick Guinard's acquisition in 2011.
JAKOBSTAD, Finland - Herrmans, the Finnish manufacturer of bicycle components and innovative lighting technology, has opened the licensing of their
HELSINKI, Finland - Amer Sports Corporation has reduced the company's 2020 target "to prioritise sustainable, profitable growth".
Velo Saddles has developed a new moulding process to produce Microtech handlebar grips. The new manufacturing process creates detailed texturing on the
Dorel Industries Inc. announced its results for the first half of 2017 which showed a 2.0% drop in revenues to USD 1.258 billion (€ 1.065bn). This resulted
