News
Shimano’s Malaysia Factory Closed Due to Covid Wave
The Shimano component factory in Malaysia has not yet restarted its production following a forced closure. The factory had to shut down completely last week after the Malaysian government issued a total lockdown from June 1 to June 14 considering the situation of COVID-19 in the country. Further delays in the supply chain are now…
Inside Australia’s First $200 Million Bicycle Business
The Pedal Group has just reached a major milestone for Australian bicycle businesses. It has become the first to reach $200 million in annual sales. This business is best known by its two major components, Advance Traders and 99 Bikes. Because a major shareholder of The Pedal Group, Flight Centre Limited, is a public company…
Inside NSW’s Newest Bike Shop
How’s Business – July 2021
Welcome to our monthly chat with half a dozen retailers spread throughout Australia and New Zealand. With winter now well and truly set in and the traditional quiet season for bike shops underway, for this month’s follow up questions we asked our retailers if they were using this time to make any shop fit-out upgrades…
Why Now is the Right Time for an Ebike Subsidy
By Dr Elliot Fishman* In May 2021 the Victorian government, in response to heavy criticism of their electric vehicle road user charge, announced a $3,000 subsidy for the purchase of an electric vehicle priced under $68,740. This week, NSW has followed up with its own $3,000 rebate and a stamp duty exemption. The ACT government…
‘Voluptuous Pleasures of Cycling’ Explained Inside Federal Parliament
It’s hard to get a laugh at a 7:30 am breakfast function, but federal MP Andrew Leigh, Shadow Assistant Minister for Treasury, achieved this at the most recent Parliamentary Friends of Cycling breakfast, hosted by Stephen Hodge on behalf of We Ride Australia and held inside the federal parliament in Canberra on Tuesday 15th June.…
Wiggle, Max Studio Acquisitions Proceed
As we anticipated in a previous article here, it has now been confirmed that global UK based mail-order company Wiggle is set to be acquired by a German group Sigma Sports United. This company is a global sports e-commerce and technology platform, not to be confused with the Sigma computer brand. “We’re proud and excited…
Australia’s Bike Industry Majors Showing Strong Growth
As you might expect given the market circumstances, the major bicycle companies in Australia have all been showing strong sales growth and improved ‘bottom lines’ in their latest financial reports. Under Australian law, foreign owned Australian subsidiary companies who are categorised as Significant Global Entities (SGE’s) are required to lodge annual financial statements with the…
Bicycle Industry Gets Its First Stock Index Tracker
Set to launch on the Frankfurt stock exchange on the 21st of June, the bicycle industry will get its first stock exchange index, tracking 20 of the trade’s largest listed names. This means that an investor could invest in this single index and know that they’ve just invested in a diversified portfolio of 20 major…
Bikecorp and KRUSH Join Forces
KRUSH is an independent bike care products company, started from scratch in regional Victoria by Matt and Emma D’Arcy over the past five years. For the past three years, Melbourne based Bikecorp has been distributing KRUSH products but now Bikecorp has invested in the business. This new relationship between Bikecorp and KRUSH will see the…