Posts Tagged ‘Highlight’
What Does Our Bike Industry Future Look Like?
As we all know, Australia’s bike industry went through an unprecedented two-year boom from about March 2020 until it started to taper during 2022. During that boom, I wrote two opinion pieces here and here predicting what would happen next and then, early this year, this article in which I summarised which of those predictions…
How’s Business – April 2023
Welcome to our monthly conversation with retailers across Australia and NZ. It’s always dangerous to define any trends from a sample of, in this month’s case, just seven stores. However, it seems stores with less nearby competition, particularly regional stores, are finding things better than city stores where there are multiple shops nearby. We’ve been…
Hargroves Rebrand Completes 99 Bikes Purchase
Southhampton, UK Pedal Group has begun a rebrand of the UK retail chain, Hargroves Cycles, it purchased recently. The Queensland-based company last week began converting the four Hargroves outlets into 99 Bikes stores, consistent with its retail operations in Australia. Hargroves founder Peter Hargroves said on social media site LinkedIn the rebranding was an end…
Crank’n Sale as Erik Turns Attention to Events
Collie, WA Regional WA bike store owner Erik Mellegers is selling his famously quirky Crank’n Cycles store to focus on spreading the word about the thriving off-road cycling scene in the State’s South West. The one-time theology student has been in increasing demand as a commentator at sporting and community events and will also concentrate…
Global Brand Closes Majority of Australian Stores
Melbourne, Victoria An international success story that originated in Melbourne, Reid Cycles, has announced it is closing several Australian stores in a restructuring of its retail network “in response to market conditions”. Reid closed its Adelaide shop about a month ago and outlets in Melbourne and Sydney are set to follow as the company aims…
Strathpine Cycle Preparing to Close for Business Consolidation
Brisbane, Queensland The owner of two Giant stores in Brisbane has revealed plans to consolidate their operations into one site and give increased focus to their prospering online sales. Mark Turvey plans to close the Giant Strathpine within the next two months and concentrate upon his Giant Redcliff business. Mark said the lease for the…
Letter From America – Banks Shaping Bike Industry
Sante Fe, New Mexico The US banking industry – turned topsy-turvy with the demise of Silicon Valley Bank (SVB) in March – is quietly reshaping the bicycle industry. Retailers, facing a raft of cash flow issues, are finding it increasingly difficult to refinance older loans, refinance and pay for overpriced inventory, or seek loans to…
Tiller Turning to Investors to Save Roadster Project
Fremantle, WA A WA-based premium e-bike developer, Tiller Rides, has opened the door for an investor or buyer to keep its program on track, after the company went into voluntary administration last month amid a series of adversities in the economic climate. Costly production delays caused by Covid restrictions, followed by a tightening financial market,…
Yamaha E-Bike Debut in Australia
Sydney, NSW Yamaha’s new generation of e-bikes will make its introduction to the Australian market next month, with the YDX-Moro 07 e-MTB set to pave the way for other models. It will be the first time Yamaha e-bikes have made it to our shores, as the Japanese company this year celebrates its 30th anniversary of…
How’s Business? – March 2023
Welcome to our monthly chat with bicycle store owners and managers across Australia and New Zealand. We’ve been hearing reports of very large discounts being initiated nationwide by multiple bike brands as the industry faces a perfect storm of over-stock, demand returning to pre-Covid levels and consumers struggling from increased cost of living pressures. So…