OSAKA, Japan - High inventories in key markets continue to have a knock-on effect for Shimano, the company has reported today in its first half year figures. As a result, net sales in the company's bicycle segment decreased 20.7% in the first 6 months of 2024 compared to the same period last year. However sales in the key market of Europe reveal a turnaround.
ANTWERP, Belgium - Drivetrain brand, Classified has strengthened its leadership team with the appointment of Dennis Weijers as chief commercial officer (CCO). Weijers joins Classified from Shimano Europe, where he served as director of marketing.
TESSENDERLO, Belgium - The delivery problems at Shimano Benelux have arisen since warehousing and distribution was outsourced to logistics service provider Kühne+Nagel in 2023. Although Shimano did not give any reasons for the delivery problem, sources indicate that the 'mismatch' between both IT systems is the main cause of the problems.
OSAKA, Japan - Strictly planned in the week ahead of the start of Eurobike, component manufacturer Shimano presents its new e-drive systems EP5 and E5100. Both new drive trains have been developed from the concept to expand the reach, increase connectivity options and a smoother cycling experience.
OSAKA, Japan - Bicycle component manufacturer Shimano reports that demand for bicycles continued to be weak at the start of the year. In the first quarter of 2024, net sales decreased by double digits compared to last year. Also for the rest of the year the outlook will remain uncertain for Shimano.
OSAKA, Japan - Shimano has launched a new affordable component system, Shimano Essa, which will be compatible with the bicycle component maker's current 8-speed flat-bar Acera, Altus and Tourney TX systems. Also, the Cues range launched last year, has been optimised to include Short Reach, an ergonomic design for riders with small hands.
OSAKA, Japan - The financial consequences of high inventory in the market accelerated in the fourth quarter of last year for bicycle and parts manufacturers. Shimano even reports a year-on-year decline of 24.6% in revenue and a 52.3% drop in net profit. The figures Shimano projected for 2024 don't show a positive picture either.
KORTRIJK, Belgium - Full halls, wide smiles, and positive energy… the mood at Velofollies in late January was in stark contrast to many of the reports recently published on Bike Europe. The annual event for the Benelux market with sold out exhibition space, new product releases and notable optimism seemed to disguise the many uncertainties in the current market. However, "2024 will not be a year for taking risks," one exhibitor confirmed.
PEKAN NENAS, Malaysia - Shimano is having to investigate one its Malaysia suppliers, Kwang Li Industry, following an investigation by a UK newspaper which uncovered labour abuse allegations at the factory. Having had very few human-rights incidents compared to other industries, has the bicycle industry been too naïve about the quality of its Asian suppliers?
OSAKA, Japan - Shimano reports a big difference in market performance between Europe and North America. In its January-October 2023 financial statement, the component manufacturer reports that despite high inventories in general, a strong interest in bicycles continued in its major market, Germany and the Benelux countries.
