DULUTH, United States - Fox Factory has reported its third-quarter results, and while they're right on par with the company's projected net sales for FY2025, the results show the company's second-quarter momentum has slowed. This is mainly as a result of the sales slowdown in the bicycle and e-bike segment.
TAICHUNG, Taiwan - Giant Group recorded a 17% drop in consolidated revenue over the first nine months of this year, the latest figures released by the company's board of directors reveal. With a slow start to the year and a high-profile incident with the United States Government in late summer, the manufacturer reports a 24.9% decline year-over-year in Q3 revenue to NT$15.36 billion (€420 million). A small silver lining is the growth in e-bike sales and the recovering demand in Europe, particularly for its OEM business.
Online bicycle retailer Bike24 is raising its financial outlook for its current third quarter, and for the entire financial year. The Dresden-based company expects the positive trend from the first half of the year to continue.
SponsoredDahon is responding to the growth of the e-bike market worldwide with a new alliance and factory. The company is forming an alliance with Golden Wheel Group to establish the new company Dagold Technology. Its new Dagold Factory in Tianjin, China, was officially opened on October 16th.
HASTINGS, United Kingdom - British bike brand Whyte Bikes Ltd. has changed private equity hands, from current owner Cairngorm Capital to Causeway Capital. The acquisition sees 100% ownership of Whyte transferred to Dublin-based Causeway Capital. The brand sees the move as a major step toward developing international growth.
TAICHUNG, Taiwan - In the wake of forced labour accusations from the United States, Giant Group is extending its 'Zero Recruitment Fee Policy'. Originally in effect from January 1, 2025, this will now apply to all migrant workers currently employed at the company in Taiwan. "This latest expansion reflects the Group's ongoing institutionalisation and practices of human rights protection and fair employment," the company states.
