Industry Digest: $2 Billion of Bike Imports in 2021, Decathlon Shuts US Stores & More
What's going on in the cycling industry this month? Industry Digest is a peek behind the curtain and showcases articles from our sister site, Bicycle Retailer and Industry News. In each installment, you might find patents, mergers, financial reports and industry gossip.
A U.S District Court judge has dismissed a case that a mobile game app maker had filed against Trek Bicycle after Trek challenged the game maker’s trademark registration.
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Trek and Perkins were unable to settle the dispute. However, in 2019 the USPTO overruled Trek’s opposition and granted Perkins the trademark. In early 2021 Perkins sued Trek, charging that the bike company's opposition to the trademark registration had delayed the app's development and market entry.
(Read more.)
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Dorel Industries completed its sale of Dorel Sports to Pon Holdings for $810 million in January.
(Read more.)
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(Read more.)
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Decathlon says it will focus on its online business in the U.S., as well as sales through retail partners, after closing its two trial retail locations in the Bay Area.
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"We are changing our business model to adapt to current market conditions and to better meet the needs of our customers," said Christian Ollier, the CEO of Decathlon USA.
(Read more.)
Court dismisses complaint against Trek Bicycle by owner of Prize Trek app
By: Bicycle Retailer and Industry NewsA U.S District Court judge has dismissed a case that a mobile game app maker had filed against Trek Bicycle after Trek challenged the game maker’s trademark registration.
Jchon Perkins owns Prize Trek, a mobile app game that a 2017 Associated Press article described as “a powerful marketing tool that can provide small businesses with free advertising for life." Players "participate in a scavenger hunt and win valuable cash and prizes sponsored by local businesses," the article said.
After Perkins, in 2018, applied to register "Prize Trek" with the Patent and Trademark Office, Trek Bicycle filed an opposition, saying the game’s name could be confused with its trademark for Trek.
After Perkins, in 2018, applied to register "Prize Trek" with the Patent and Trademark Office, Trek Bicycle filed an opposition, saying the game’s name could be confused with its trademark for Trek.
Trek and Perkins were unable to settle the dispute. However, in 2019 the USPTO overruled Trek’s opposition and granted Perkins the trademark. In early 2021 Perkins sued Trek, charging that the bike company's opposition to the trademark registration had delayed the app's development and market entry.
(Read more.)
Dorel Sports president/CEO steps down
By: Bicycle Retailer and Industry NewsPeter Woods has stepped down as president and CEO of Dorel Sports, which last month was officially acquired by Pon Holdings.
According to a Pon Holdings' release, the decision was mutually agreed on. Woods will continue working for Pon.Bike as a special advisor until the end of the year.
Woods joined Dorel Sports in March 2012 as chief financial officer and became president and CEO two years later. As a special advisor, he will continue to support the integration within Pon.Bike, according to the release.
According to a Pon Holdings' release, the decision was mutually agreed on. Woods will continue working for Pon.Bike as a special advisor until the end of the year.
Woods joined Dorel Sports in March 2012 as chief financial officer and became president and CEO two years later. As a special advisor, he will continue to support the integration within Pon.Bike, according to the release.
Dorel Industries completed its sale of Dorel Sports to Pon Holdings for $810 million in January.
(Read more.)
Industry imported nearly $2 billion in bikes last year
By: Steve Frothingham // Bicycle Retailer and Industry NewsBike imports continued to skyrocket last year, as the industry brought in bikes with a customs value of $1.96 billion, a record that is 40% higher than in 2020.
The increase in the number of bikes imported was a bit less dramatic. The industry imported 19.24 million bikes, the most since 2010 and a 13.3% increase over 2020.
The figures from the Census Bureau’s USA Trade Online database, released Tuesday, show some dramatic shifts in the source nations of U.S. bikes, just in the last two years.
For example, the total value of bikes from China and Taiwan increased 37% and 33%, respectively, from 2020 to 2021. But the third-largest source of bikes, Cambodia, saw a 72% increase, while Indonesia saw a 176% increase. Imports from Vietnam, on the other hand, were valued at 1.3% less than the prior year, likely due to COVID-19-driven factory shutdowns there.
The increase in the number of bikes imported was a bit less dramatic. The industry imported 19.24 million bikes, the most since 2010 and a 13.3% increase over 2020.
The figures from the Census Bureau’s USA Trade Online database, released Tuesday, show some dramatic shifts in the source nations of U.S. bikes, just in the last two years.
For example, the total value of bikes from China and Taiwan increased 37% and 33%, respectively, from 2020 to 2021. But the third-largest source of bikes, Cambodia, saw a 72% increase, while Indonesia saw a 176% increase. Imports from Vietnam, on the other hand, were valued at 1.3% less than the prior year, likely due to COVID-19-driven factory shutdowns there.
(Read more.)
Peloton cuts 2,800 jobs as CEO steps down
By: Bicycle Retailer and Industry NewsPeloton Interactive on Tuesday announced that its revenues grew 6% in its recently completed second quarter, to $1.1 billion; the company recorded a net loss for the quarter of $439.4 million but could point to a 66% increase in Connected Fitness Subscriptions and a 26% increase in recorded workouts on its system in the quarter.
However, on Wall Street, the actual numbers were overshadowed by a variety of news surrounding the brand, including speculation that Nike and Amazon and Apple were looking at acquiring it.
Peloton’s stock price has been yo-yo-ing as some investors get bearish about Peloton’s prospects in a post-pandemic world while others buy up its stock in anticipation of a high-dollar sale to a major brand.
However, on Wall Street, the actual numbers were overshadowed by a variety of news surrounding the brand, including speculation that Nike and Amazon and Apple were looking at acquiring it.
Peloton’s stock price has been yo-yo-ing as some investors get bearish about Peloton’s prospects in a post-pandemic world while others buy up its stock in anticipation of a high-dollar sale to a major brand.
Co-founder John Foley will step aside as CEO to become Executive Chair
(Read more.)
Decathlon to close its two US stores this year, focus on online sales
By: Bicycle Retailer and Industry NewsDecathlon says it will focus on its online business in the U.S., as well as sales through retail partners, after closing its two trial retail locations in the Bay Area.
Based in France, Decathlon claims to be the world's largest sporting goods retailer, and offers its house brand products in most categories, including bikes. It opened a trial "lab" retail location in San Francisco in 2018 and a full-sized store in Emeryville and another in Potrero the following year.
The company said it will close the stores this year.
"Decathlon products continue to be available throughout the U.S. at Decathlon.com and at select retail partners, including Walmart, Curated, Target and more. Each partner is carefully selected to ensure they best align with Decathlon's mission and goals," the company said.
The company said it will close the stores this year.
"Decathlon products continue to be available throughout the U.S. at Decathlon.com and at select retail partners, including Walmart, Curated, Target and more. Each partner is carefully selected to ensure they best align with Decathlon's mission and goals," the company said.
"We are changing our business model to adapt to current market conditions and to better meet the needs of our customers," said Christian Ollier, the CEO of Decathlon USA.
(Read more.)
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You should have added the words "to the USA) to that as there are a couple of hundred other countries on their planet
They're just quoting the "Bicycle Retailer and Industry News" headline, which is a US based publication.
nah we just know how to read
At the same time, the headlines explicitly says "Industry" which is quite a bit different thankyouverymuch. But it makes perfect sense if you read it assuming the US is the only country that matters.
Yes, it does say "Census Bureau’s USA Trade Online database" by the time you get to the *third* paragraph. Yes, it does say "US Bike Imports" as the title of the chart. Neither of those points make the headline any better.
That said, the problematic headline appears to have originated at BRAIN and not Pinkbike.
example : "JOE ROGAN GIVE ENGINE COOLER TO HIS KIDS FOR BREAKFAST!!"
context: it's water.
Trek Bicycle filed an opposition, saying the game’s name could be confused with its trademark for Trek.
Trek started it.
This cant be possible with Peloton, of course. That's what bothers me much this and the screaming tech obsolescence of the hardware.
Here’s to investing back into tobacco and alcohol
And they can also go outside. Plus, you can change "providers"; Zwift, TR, RGT or even free ones.
I am not a Peloton fanboi, but I also know what it takes to run a multi billion dollar organization. It is not the same as ordering bikes from Asia and then forwarding the boxes to bike shops or consumers. Peloton is projecting 1.3M device (bikes and treadmills) sales this year alone. How many bikes do you think Specialized sells in a year?
Full disclosure, we have a Peloton bike and think highly of their ecosystem. I also thought the company was wildly overvalued at $100+/share. They seem to be rightsizing the company now and headed on the right track.
Okay so I dramatically underestimated their popularity.
a while, just haven’t found an entry point I liked.
Hm... I see a woman with puffy blond hair wearing one of these fake glasses with an attached mustache sitting in the judges chair.
(Cost numbers completely made up...)
But still a problem that still not many new companies, but why mostly made in the far east?