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Sydney, NSW. Rising rent and diminishing margins have led to the closure of Sydney’s first specialist mountain bike store, Summit Cycles, according to its founder, Paul Rowney. Paul last week announced in an email to industry contacts that Summit Cycles Sydney will close on 25th August, after nine years at its Hillsdale location, as the business consolidates its retail operations …
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Rotorua, NZ. NZ start-up Bike Matrix is preparing to pilot a new software platform aiming to be a go-to reference guide for bike part compatibility. The online system will enable shop mechanics and consumers to input the make and model of a bicycle and instantly see the array of compatible parts – saving them time and giving them confidence those …
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Melbourne, Victoria. Well-established Melbourne e-scooter retailers have enjoyed a notable increase in sales since the Victorian Government legalised private electric scooters from early last month, according to a prominent scooter distributor. Other retailers remain optimistic of escalating sales over the remainder of this year. John Dunnachie, the sales and marketing...
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Melbourne, Victoria. While bicycle companies around the globe are looking down the barrel of a testing economic climate for the next few months at least, one Melbourne business has turned to a Bullitt as a solution. E-Cargo and commuter e-bike specialist Dutch Cargo last week signed as a distributor for Bullitt, a lightweight, front-loading cargo bike produced by cult Danish …
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Girona, Italy. An Italian start-up's campaign to develop the world’s first automatic motor for e-bikes has attracted a rush of investors before its fund-raising campaign has gone public. Niche Mobility, based in Girona, is developing an Automatic Digital Transmission System (ADTC) complete with regenerative breaking. The company had scheduled to begin its Crowdcube…
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Melbourne, Victoria. A central figure in Melbourne’s bicycle industry for the past four decades, Mick Jamison, has joined the Bicycle Academy team in a training, assessing and business development role. An owner of several Melbourne bike stores since the 1980s and one of Australia’s earliest mountain bike competitors, Mick had already set his sights on training...
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Shanghai, China. A quantum leap forward in the quality of Chinese bicycle products was on display when China Cycle 2023 was held in Shanghai this month – the first time the event has been held since 2019 because of Covid restrictions. TEBCO managing director Tony Morgan reported back to The Latz Report when he returned to this year’s event on …
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Taipei, Taiwan. Giant Group’s nett profits have halved in the first quarter of 2023, compared to the same period in 2022, the Taiwan-based company revealed in a financial report released last week. Its consolidated financial report for the 2023 first quarter shows the group’s nett profit after tax was NT$836 million (A$40.49 million), a decline of 54.1% year on year, …
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London, UK. Folding bike specialist Brompton’s desires to grow even faster than its 20% organic expansion in recent years has sparked a £19 million (A$25.51 million) capital injection for the UK company. Growth capital investor BGF recently took a minority stake in the English manufacturer, securing £19 million in equity capital to further accelerate growth. In an article…
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GMAIL users - click on the blue "View Entire Message" link below to read the rest of the newsletter.
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Warburton, Victoria. Australia’s mountain bike industry has reached a level of maturity that now demands its own industry body, to effectively regulate the industry and collectively represent its interests, according to the project manager behind the recently approved Warburton MTB Destination in Victoria. The unprecedented campaign to gain approval for Australia’s first gold-level mountain bike facility has highlighted the considerable …
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