World
Global Bike Company Results Start to Reflect Covid Bike Boom
Trek Moving to Fully Recyclable Bike Packaging
Atherton Bikes Crowdfunding Campaign Quickly Oversubscribed
Zwift, Now Valued at Over $1.37 Billion, Developing Its Own Trainer
Zwift, a 350-person, Long Beach, California-based online fitness platform that immerses cyclists and runners in 3D-generated worlds, just raised a hefty US$450 million (A$616 million) in funding led by the investment firm KKR in exchange for a minority stake in its business. Permira, the Amazon Alexa Fund and Specialized Bicycle’s venture capital fund, Zone 5…
What Do Tesla’s Battery Day Announcements Mean for Ebikes?
After months of largely Coronavirus induced logistical delays, on Tuesday 21st September, Tesla finally presented their much hyped and anticipated ‘Battery Day’ as part of their annual shareholder meeting. You can watch the event here. But to summarise the long and detailed technical presentation into a single graphic, please refer to the summary slide from…
Online Brand Canyon’s Sales Top $650 Million – With Huge Buyout Rumoured
German based global manufacturer Canyon saw its global sales grow by 30% to 400 million Euros (A$656 million) for its most recent financial year. Canyon, which only sells online, has had a Melbourne based Australian office for several years. Canyon ships customer orders to Australia individually via air freight and does not hold stock in…
Will This Brand Become the Tesla of Bicycles?
Dutch bicycle company VanMoof has just raised a further US$40 million (A$54.4 million) to bring its total capital raising so far to US$73 (A$100 million). In a world full of hundreds of bike brands, how has this relatively small and new player been able to raise, what is by bicycle industry standards, such a vast…
Sub 7kg Ebike Sets New Guinness World Record
Mechanical engineer Dennis Freiburg from Germany has set the Guinness World Record for the lightest ever e-bike prototype with a design that weighs just 6.8kg. The ride – named the Freicycle – reportedly took Freiburg almost a year to design and build, serving as part of a project for his doctorate. Unsurprisingly, the Freicycle is…
Further Data Confirms Scale of Bike Sales Surge
As every bicycle industry member knows, demand for bicycles has surged since March. But with the vast majority of bike businesses being privately owned, they are not required to reveal any sales data, so it’s hard to get an accurate read on what is happening. Halfords Group PLC is a large, publicly listed retailer of…
Giant and Dorel Both Announce Record Sales and Profits
In the first round of reporting for publicly listed companies since the Covid impact upon the bike industry came into full effect, sales for both Giant and Dorel were up significantly. Giant Group’s sales for the second quarter of 2020 (from 1st April to 30th June 2020) were NT$19.7 billion (A$929 million) and its earnings…