HAUSHAM, Germany -American cult brand Yeti has announced the opening of a European office in Germany. "Expanding into Europe is the next logical step for us as we have seen a lot of growth over the last decade," says Yeti CEO Chris Conroy. Founded in 1985, Yeti Cycles makes race-bred, obsessively engineered, masterfully crafted mountain bikes.
DULUTH, USA - Fox Factory business division Specialty Sports Group (SSG), which includes bikes, was able to report a double-digit sales increase in the first half of 2024. Though this was mainly rooted in the acquisition of Marucci Sports, as bike sales dropped by $22.9 million (€21 million).
FRANKFURT, Germany - The fact that the US e-bike market is lagging behind European counterparts is well-known within the industry. A forecast based on a compound annual growth rate (CAGR) of 30% over the next 7 years could see the US e-bike market reach 6.7 million units and match regular bicycle sales in 2030. This data presented at Eurobike by eCycleElectric however, represented the most optimistic scenario.
WASHINGTON, USA - The initial investigations into Accell Group-owned Babboe for selling defective cargo bikes caused a stir earlier this year in the Netherlands and across Europe. Owners had been told to stop riding their Babboe due to the hazard of breaking frames months ago, but only on 20 June the US Consumer Products Safety Commission (CPSC) issued a recall notification.
POZZOLEONO, Italy - To align the company's global OEM strategy, Selle Royal Group has decided to invest significantly in the North American market. To ensure successful expansion and better meet the needs of region, which is key to the group, it has appointed two dedicated OE sales managers already part of the Selle Royal Group team as territory managers for Highway 2: Chris Ballard and Patrick Gore.
DULUTH, Georgia - Fox Factory Holding started 2024 with a net sales drop of 16.6% to $333.47 million (€309.91 million) compared with 2023. In a move signaling confidence in the company, Michael Dennison, the chief executive officer of Fox Factory Holding Corp has purchased shares of the company's stock amounting to a total of $498,375.
LINCOLN, California - US company, Wren Sports, known for their inverted forks, bike packing racks and durable components, has announced a series of business developments across Europe following a successful 18 months of steady sales growth and new product development.
WASHINGTON, USA - The latest publication by the US Trade Representative (USTR) regarding tariff action has not brought any clarification whether the import of lithium-ion batteries for e-bikes from China will be hit by a 25% additional duty. "Some ambiguity remains on what the announcement means for existing bicycle products receiving exclusions from Section 301 tariffs," writes PeopleForBikes, Policy Counsel Matt Moore in a statement today.
DULUTH, Georgia - In view of the current problems in the global market, Fox Factory Holding Corp.'s Q1 net sales met expectations; a 16.6% drop to USD 333.47 million (€309.91 million) compared with 2023. Bicycle product sales under the Specialty Sports Group (SSG) umbrella couldn't stop the downward trend but were nearly offset by the sales integration of recently acquired Marucci Sports.
TUSCON, USA - Approximately 260 industry executives attended the Bicycle Leadership Conference (BLC) this year which given the tough past year demonstrates the vitality and commitment to this annual meeting of the minds of the US cycling industry. It was a special occasion, the 25th anniversary year of People for Bikes and Tim Blumenthal, founder and cycling supporter Congressman Earl Blumenauer, 3rd District of Oregon were special guests and speakers.
