HEERENVEEN, the Netherlands - The financial situation for KKR owned Accell Group is becoming increasingly challenging. A group of lenders decided to select advisers to assess options for the bicycle manufacturer amid struggles spurred by waning demand and operational hurdles. Accell is also facing an expensive recall of the Babboe cargobike and at the same time the union might shut down one of the Heerenveen factories later today.
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.
WELS, Austria - In the first six months of 2023, Pierer Mobility AG achieved a new record revenue of €1.39 million, up 20.2%, compared to 2022. However, "the bicycle market as a whole is characterised by major changes. The consolidation that has already begun and is expected, will have profound effects on the entire bicycle industry," the motorcycle and e-bike specialist warns.
SQlab has developed a digital sales tool called Profiler app, which guides shop staff through the process of determining ergonomic products, tailored to the customer's needs. The brand has always focused on strengthening local shops, by providing their measurement experience on-site and training their retailers to be experts in bike ergonomics. But limiting factors like time and staff shortages forced them to support local retailers in different ways.
TALLINN, Estonia - As startup producing e-cargo bikes for last mile deliveries, Vok Bike closed a €3,8 million seed round last week, including Estonia's SmartCap, Jaan Tallinn's Metaplanet, Specialist VC and Sunly.
TAIPEI, Taiwan - The cockpit of e-bikes is currently seeing a rapid development of more integration and more customization. Manufacturer King Meter offers a wide range of shifters and displays, including the latest with integrated display.
OSAKA, Japan - Shimano has introduced Cues, a new approach to its mid-tier component line-up. Redesigned from the ground up, Shimano has focused on high-compatibility and consolidated its 9, 10, and 11-speed drivetrains like Deore, Tiagra and Alivio into one unified ecosystem of components.
FRANKFURT, Germany - The Eurobike Award will return to this years edition of the international bicycle industry trade show. For this indicator of trends in the industry, Eurobike has partnered with the German Design Council. Eurobike in Frankfurt will be held from June 21 to June 25, 2023.
Litemove designs LED lights for the global bicycle industry. Founded in 2019, the company is based in Taiwan. "We are a young energetic company complimented by a team with several decades of international experience in optics, electronics and mechanical engineering harnessed from the automotive industry. These key attributes are brought together in our bicycle product design team for the creation of world class products."
OSAKA, Japan - The global presence makes it possible for Shimano to compensate for fluctuations in various market. Thanks to big differences between European, North American and Asian markets Shimano can still report a net sales increase of for the first nine months of 2022.
A handlebar to which you can attach integrated accessories. That is the new Contec G-link system. Hermann Hartje's exclusive P&A brand, Contec, thus responds to the trend in which bicycles have increasingly integrated applications. Dealers can order the modular system from August, and it will be available to consumers in the spring of 2023.
FRANKFURT, Germany - Apart from a few niche suppliers who could be counted on one hand, for years there was no one on the road with the TQ drivetrain unit. Now the Germans are back with a new lightweight, quiet, small motor with which they say they have a major bike supplier onboard with Trek Bicycle.
LONDON, UK - To facilitate its European expansion, insurance company Laka has secured additional funding from Porsche Ventures, the venture capital unit of Porsche AG. This brings its Series A, led by Autotech Ventures and by Ponooc, who has close ties to Pon, and ABN AMRO, to €12.7 million.
Your customer would like to raise the handlebar on their bike, but the brake hose is too short. Replacing the existing brake hose for longer ones can be a challenging job. Elvedes offers you the perfect solution to easily extend the original brake hose.
AALBORG, Denmark - PentaLock has raised €1.6 million in pre-seed funding from current investors and a lineup of Danish business angels. This investment will allow the start-up to make the next step in developing the company and meeting the target market's needs.
TAIPEI, Taiwan - OEM and aftermarket fastener component manufacturer New Goose Berry introduced its new series of cold forged cable guides and stops at Taipei Cycle 2022.
TAIPEI, Taiwan - Voltraware presented a demo of its charging pad for wireless e-bike charging during this year's Taipei Cycle show. The newcomer to the e-bike world, with a history in consumer electronics, aims to change the charging behaviour of e-bike users.
TAIPEI, Taiwan - To meet the growing demand for its products, Taiwanese manufacturer Sunny Wheel is currently building a new factory. Sunny Wheel will double in size and the new Taichung based facility is expected to be up and running mid-2023, the company announced at Taipei Cycle Show alongside the presentation of a series of new products.
ZURICH, Switzerland - The Indian tiger strikes in Switzerland for the second time within a few months. Following the acquisition of Ego Movement, TVS Motor Company has taken over the majority of Swiss E-Mobility Group (SEMG) from Constellation Capital. The intention seems clear; The Indian mass producer wants to gain a foothold in the booming e-bike market in Europe.
OSAKA, Japan - In its financial statement on the first nine months of 2021, the Shimano Group again reports a brisk sales increase of its bicycle component segment of 56%. From the same period in the previous year, bicycle component turnover jumped to JPY395,187 million (€3 billion), and operating income was up 103.4% to JPY113,719 million (€864 million).
