Business

Partnerships, acquisitions and investment news throughout the cycling industry

Giant Group reports 17% sales growth in 2021 financial report

The Giant Group has reported sales growth of 17% in its 2021 financial report, with the group reaching consolidated sales of NT $81.8 billion (£2.17 billion). The surge in bicycle demand continued last year, said the company, and the group’s sales growth was also aided by growing demand for e-bikes in …

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London cycling start-up Spokesafe receives £150,000 investment to accelerate expansion

London active travel platform Spokesafe has just received a £150,000 investment from British Design Fund (BDF). The platform, which supports cyclists to find and access secure bike parking, was founded in 2019 by Max Wilson, who hit on the idea for the business while working as a chartered surveyor. Having …

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VeloBrands adds British bike lock manufacturer Litelok to distribution portfolio

UK-based cycle industry distributor VeloBrands has added British bike lock manufacturer Litelok to its distribution portfolio. Every Litelok is designed and manufactured in the UK and is tested and approved by Sold Secure. All locks exceed industry standards, said the manufacturer, passing independent security tests. With sustainability at the forefront, …

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Bira ‘underwhelmed’ with offerings for indie retailers in Spring Statement

The British Independent Retailers Association (Bira) has said it is ‘underwhelmed’ with the offerings for independent businesses following yesterday’s Spring Statement. In the announcement by Chancellor Riski Sunak in the House of Commons, he revealed the basic rate of income tax will be cut from 20p in the pound to …

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Sports tech start-up Muoverti passes £2.4 million in investment

London-based sports tech startup Muoverti recently passed another million-pound milestone in funding from investors, taking the total raised to more than £2.4 million. Following the public unveiling of its pre-production prototype at London’s Rouleur Live event last November, the company said it saw a significant increase in interest from the …

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Ison Distribution now distributing dropper and components brand KS in UK

Premium droppers and components brand KS will now be distributed by Ison in the UK, parting ways with Jungle after nine years. “After nine happy and successful years of partnership, Jungle and KS are announcing they are parting ways,” said a statement. “Post-acquisition (by Santa Cruz Bicycles and Pon Bike …

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Phone mount brand Quad Lock returns to Madison with increased focus on IBDs

Madison is partnering with Quad Lock again to provide distribution to the UK cycle industry. With Quad Lock re-focusing on independent bike dealers, Madison said it is the ideal partner to offer reach and service in those areas. Madison will be offering the core Quad Lock cycle range, including the …

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2Pure announces UK distribution deal with Sage Titanium Bicycles

2Pure has announced a new UK distribution deal with Sage Titanium Bicycles, making Sage available in the UK and Ireland for the first time. 2Pure will be launching the brand at COREbike this weekend with two models being showcased. “Sage Titanium make the kind of bikes we all want to …

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Extra UK announces reduced pricing for Enduro Bearings

Extra UK has announced new pricing for Enduro Bearings – with prices coming down across the range. The improved pricing is already live and available via the B2B website. “Due to a new direct distribution agreement with Enduro Bearings, we have been able to reduce SRPs by an average of …

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Mike Sinyard steps down as Specialized CEO 

The founder and long-standing CEO of Specialized, Mike Sinyard, has stepped down from his role at the company.  After 48 years in charge, Sinyard has stepped away from his CEO position, as he hands over the reigns to Scott Maguire, the former chief operating officer of Dyson.  Sinyard, who founded …

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