The Russian bicycle sector could face a serious decline in the second half of the current year as the ever-deepening fuel crisis in the country creates serious logistics problems, resulting in insufficient bicycle supplies to the domestic market. Despite facing "unprecedented" challenges, investments from China continue to support fledgling local brands.
A new owner for the Accell Group is one step closer today. The German anti-trust authorities have cleared plans by the Singapore-based investment company, DuTech Group, to take over the Dutch bicycle manufacturer. Accell reports that it is "very happy and positive" about the developments.
The French market has yet to find cause for optimism. In that context, the financial struggles at the O2Feel brand are no surprise. The northern France-based e-bike brand and assembler has been forced to apply for insolvency in self-administration.
The Indian family-owned company Amar Wheels Pvt. Ltd. has been doing business with European companies for close to five decades. "We strive to stay relevant, which we love. The challenges are amazing and the last 10 years have been more challenging than the past 40 years. We are constantly evolving in order to stay relevant," Karan Aggarwal, director of Amar Wheel tells Bike Europe.
The on-off reporting on whether hostilities in the Middle East will end is causing significant business uncertainty. Moreover, the heavy reliance on deliveries of parts and components from Asia leads to major cost fluctuations. As this uncertainty persists, suppliers and bicycle manufacturers will factor this into their pricing. The consequences are ultimately higher costs and higher bicycle prices in stores, as evidenced by the most recent Global Bicycle Purchasing Index (GBPI).
The rumours intensified during the Accell Dealer Days and at Eurobike last week. The name of Singapore-based investment company, DuTech Holdings, was frequently mentioned as the potential new owner of Accell Group, once one of the industry's largest companies. Last Friday, DuTech Holdings officially filed a request with the German antitrust authorities for approval to acquire Accell Group.
