HARTMANNSDORF, Germany - German bicycle manufacturer Diamant Fahrradwerke GmbH has concentrated on the German-speaking country market since its takeover by Trek Bicycle Corporation (aka Trek Group) in 2002. This year, celebrating its 140th anniversary, the East-German brand is also burgeoning in Benelux, the United Kingdom, Ireland and Poland.
AMSTERDAM, the Netherlands - Pon Holdings has made significant strides in 2024 towards enhancing its focus on mobility through strategic investments and divestments. Despite market uncertainties, Pon Holdings recorded stable revenues of €9.9 billion, matching the prior year's results normalised for divestments.
TREVIGLIO, Italy - As Bianchi celebrates its 140th anniversary, the Italian brand is entering a new phase of growth under new leadership. The brand has announced the appointment of Alberto Cavaggioni as CEO to oversee the company's product innovation and international expansion, effective 17 March 2025.
TAICHUNG, Taiwan - The excess inventory of Giant Group's own brands in Europe and the US in particular, continued to impact the financial performance of the company. The board of directors reported a 7.4% decline in consolidated sales to NT$71.28 bn (€1.98 bn) in 2024. While all financial indicators were negative for 2024, Giant Group remains positive for 2025.
CHANGHUA, Taiwan - For Merida Industry Co. Ltd., the excess inventory situation continues to have an impact on the financial performance. Yesterday the company reported a relatively steadily performance in 2024, with full-year revenue growing by 8.7% to NT$29.63 billion (€ 823 million). The company pointed out that the entire bicycle industry is still in the stage of destocking and inventory impairment. For Merida this means a net loss NT$732.66 million (€20.4 million) before tax which can be attributed to a one-time provision and did not affect cash flow, and it could still be used to offset taxes when profits are made in the future.
COLOMBO, Sri Lanka - Sri Lankan bicycle manufacturer BSH Ventures Pvt Ltd reports that it is only partially operational due to the current market conditions. The export-oriented site which was set-up to cater for the high-end bike market of Europe is presently being forced to serve the domestic market in order to remain operational.
