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.
BIELEFELD, Germany - In the aftermath of the announced insolvency, no offers have been made for the Internetstores Group as a whole, an interim assessment of the insolvency proceedings has revealed. This raises concerns about the continuity of the brands under the Internetstores Group umbrella, potentially putting numerous jobs at risk.
STOCKHOLM, Sweden - Swedish cycling and sports equipment group WeSports Scandinavia AB has acquired a stake in compatriot Thevea Brands Group AB. The aim is to strengthen its distribution network across the Nordics market.
BERLIN, Germany - The latest report on the financially troubled Signa Sports United are overshadowed by the even bigger issues at its largest shareholder, Signa International Sports Holding GmbH. It is clear that not only the problems as generally reported in the cycling industry have put Signa Sports's future on the edge.
SCHWEINFURT, Germany - The absence of the brand R Raymon at the Pierer New Mobility booth at Eurobike 2023 was already a clear indication. The Austrian bicycle company has changed its brand strategy and with that Susanne and Felix Puello will go their own way taking R Raymon with them.
BERLIN, Germany - Battery swapping system supplier Swobbee has raised another €2 million in an extended Series A round. Polish fund SpeedUp Energy Innovation and Dutch Stichting Clean Future Dividend Fund joined the group of earlier investors. The company aims to scale the solution in more European and non-European markets.
MUNICH, Germany - CIP Mobility GmbH is the first customer being supplied with Schaeffler Group's innovative chainless "Free Drive" for e-cargo bikes. The company's Mocci Smart Pedal Vehicle is almost ready to hit the road and serve the logistics market.
OTTOBRUNN, Germany - Porsche has announced that Greyp Bikes will now be known as Porsche eBike Performance. Following the recent acquisition of Fazua and the majority stake in Greyp Bikes, Porsche is now adjusting its business structure "to hone its profile, define synergies and successfully implement seminal projects."
AMSTERDAM, the Netherlands - The trendy Amsterdam based brand VanMoof has seen its turn-over hike since 2017. A strong global branding made it an attractive investment for private equity. But VanMoof has also experienced the back side of the current supply chain problems, just like many others in the industry.
BERLIN, Germany - The past fiscal year was "a year of two halves," for German e-commerce retail giant Signa Sports United (SSU). "We were able to meaningfully increase our scale through acquisitions before being affected by the macroeconomic turbulence," explains CEO Stephan Zoll on release of the FY2022 results.
PRESEZZO, Italy - UTurn Investments, an independent family fund announced their investment in 3T to facilitate the company's new development path, in Italy and abroad. This includes the expansion of its industrial infrastructure as well as a growth of the Italian production.
ZEIST, the Netherlands - "It seems like almost everyone is playing the game now," e-commerce specialist, Scott Montgomery says when looking at the direct to consumer (D2C) activities of the top 10 bicycle brands in the US. In this first podcast from Bike Europe, he explores the changing bicycle retail market and paints a picture of how e-bikes, bicycles and accessories might be sold in the future. Listen to the podcast via Spotify, Apple, SoundCloud and Google Podcasts.
SUZHOU, China - Bafang introduces its new 3-speed automatic gear hub. This intelligent-acting hub takes over the manual process of changing gears in accordance with the speed. Weighing only 1.7 kg, this 80Nm hub can be supported by both chain- and belt-driven motors.
Lithuania may not be on the radar of many bike industry manufacturers but the increasing number of international bike businesses there certainly suggests it should be. High added manufacturing value at reasonable cost, governmental aid and ease of startup are all cited as strong incentives by Invest Lithuania, the government arm tasked with attracting new businesses.
MONTREAL, Canada - Dorel Industries has completed the sale of Dorel Sports, its bicycle segment, to the Dutch mobility group, Pon Holdings. For the sale price of US $810 million, Pon now has brands including Cannondale, Schwinn, GT, Caloi and Mongoose in its hands.
HEERENVEEN, the Netherlands - The manufacturer of bike parts and accessories, Accell Bike Parts, has launched an online platform in the UK market. The Bike@Home knowledge platform will provide blogs, DIY videos and direct links to over 200 bicycle dealers
CHICAGO, USA - SRAM's Force derailleur gearing range is their second most premium offering, sitting just below the extremely pricey Red family of options. So for serious road riders the new SRAM Force XG-1270 10-30 cassette might be interesting as well.
HANNOVER, Germany - France is the next target market for German retailer, Leisger, which operates Leon Cycle brick and mortar e-bike shops and online platforms. Created in 2014, this chain launched in Germany with the opening of shops in Hannover and Munich.
WUXI, China - Chinese electric-two-wheeler giant Yadea Technology Group Co., is hoping to make a global splash with its newly unveiled product mix. Under the slogan 'Electrify your life' e-scooters and e-bikes are now being included in the company's global portfolio in addition to e-motor scooters. This move is aimed primarily at the Western e-mobility market.
HARD, Austria - Austria's second-largest bicycle producer Simplon Fahrrad GmbH has set the course for further growth: the company's parent Simplon Holding has acquired a neighbouring property to facilitate an "almost doubling of the existing production capacity". Due for completion by the end of the year, the new site will also house a large experience centre.
