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Big Three brands duke it out with March discounts

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Specialized's sale goes live on Tuesday.
Giant and Trek say Specialized's high inventory is driving the discounts, but Specialized says it's business as usual.

LONGMONT, Colo. (BRAIN) — Three of the largest U.S. bike brands are offering deep discounts on bikes next month, possibly a response to high supplier inventory levels coming out of the winter, although all three brands say their inventory is just fine.

In BRAIN's February 1 issue, Matt Wiebe reported that suppliers were holding nearly a quarter million more bikes in inventory at the end of 2015, compared to the end of 2014 — a 44 percent increase.

While spring sales are an industry tradition, the offerings this year appear to be deeper and wider than usual, and come a bit earlier in the season.

Specialized's three-week Spring Savings promotion launches at retail March 1 and will include ads on social media, cycling websites and even billboards in some areas. The company is providing dealers with an array of in-store POP displays and artwork.

Specialized's promotion involves about 45 bike models and gear including helmets, shoes and wheels. Bike retail prices are discounted 9 to 23 percent off MSRP, with discounts at retail from $150 to $801.

"Specialized has a firm handle on our inventory position"— Bill Schouman

Specialized opened its discounted wholesale buy-in window Feb. 15. Dealers who buy-in before Feb. 29 receive an additional 2 percent margin during the promotion on the newly purchased inventory. Dealers who use existing inventory during the sale can get a rebate at the end of the promotion that the company said would protect the retailer's minimum margin. Specialized is not offering a rebate on discounted P&A, but said dealers could preserve their margins by replacing their P&A inventory sold during the promotion with new itens at the discounted wholesale prices.

Bill Schouman, Specialized's director of market development for the U.S., told BRAIN the promotion was not the result of high inventory.

"Specialized has held some type of spring retail sales event utilizing various themes over roughly the past decade. This has been less about inventory levels and more about boosting sales during the historically somewhat slow month of March," he said.

But Trek sent a letter to dealers on Feb. 18 announcing that it was offering discounts so its dealers can compete with Specialized next month. In the letter, Trek's Paul Moran cited data from The NPD Group he said showed that Specialized's offseason inventory was 37 percent higher than Trek's.

"We work very hard to manage and forecast our inventory well, so that Trek and Trek retailers can be in a healthy position for the season. We are in that position now, but we must recognize the reality that other companies are not," wrote Moran, Trek's director of North American sales.

Trek's promotion involves 38 bike models, discounted from $50 to $500 dollars at retail. The company also is offering dealer rebates to preserve margins at the promotional MSRPs.

Giant also has announced wholesale discounts and special dealer terms on some bikes and gear for the month of March. In a dealer memo earlier this week, the company's U.S. general manager, JT Thompson, said Giant's inventory is in good shape. But he said Giant's two main competitors are "massively over-inventoried on bicycles and gear."

Damaging to the industry?

"While our bicycle inventory is in very good condition, we will not leave you (or the Giant, Liv and Momentum brands) on the sidelines," Thompson wrote.

Thompson said Giant would not lower its advertised retail pricing on its website or in ads, allowing dealers to choose whether they want to discount the bikes and P&A at retail.

In a letter to Giant retailers, Thompson said the discounts by Specialized and Trek are "extremely damaging to the industry."

"What these two major players are about to do is devalue the inventory of their retailers. These brands will make major pushes in the coming days – advertisements, direct emails, social media, billboards – telling consumers about the big savings that can be had by buying in March. These brand's retailers – who are already stocked to the rafters because they've been pushed into high pre-season orders – are going to be forced to buy more and sell it for less."

Specialized's Schouman said he was aware of the charges being made by Giant and Trek, but reiterated that its promotion would be good for dealers and riders.

"Specialized has a firm handle on our inventory position," he said. "We go to great lengths to make sure we have the right bikes in the right quantities to support our retailers through the selling season. As always, we know we will be heavy in select models as the year plays out at retail.  We are aware of some competitors' comments in the last week in regards to our Spring Savings promotion.  While we appreciate their concern, they don’t have access to our purchasing strategy for MY16.  We prefer to remain focused on our business and how we can improve being a better supplier for our retailers and ultimately the riders."

A variety of factors point to lower bike prices for the 2017 model year — including the collapse of the Chinese economy, which decimated its once-promising domestic consumer market for higher end bikes, but opened up bike production capacity for other markets. Lower fuel costs cut material and shipping costs for bike and parts makers, and currency exchange rates are trending favorably for the U.S. and Europe. Shimano’s recent wholesale and retail price cuts on aftermarket parts may reflect some of those factors, although Shimano pushed discounts out to OEM bike makers late last year.

Schouman said those factors are not driving the discounts on 2016 model year bikes, however.  

“Our prices for MY16 were locked in well before the start of the model year. Any recent developments have had nominal effect on our inventory carrying costs,” he said.


Guest Opinion: What's next for the bike industry? Look to the past

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A guest opinion article by Steve Maxwell and Felix Magowan.

The recent news that Mavic parent Amer Sports is buying Enve Composites, and that the two huge British bike e-retailers Wiggle and Chain Reaction Cycles have agreed to merge (and, today, that Vista has bought a chunk of BRG Sports- Ed.)' prompts an obvious and perhaps inevitable question: Is this an indicator of a new trend in the bike business? What’s next? A quick look back at previous periods of consolidation may yield some answers.  

With few exceptions, the worldwide bike industry has been in a flat, no-growth environment the last few years. And in industries or times when business is flat, you tend to see a wave of consolidation sweep through the industry. Retailer A is acquired by Retailer B. Retailer C suffers in the more highly competitive marketplace, and goes out of business. Capacity is reduced, or “rationalized,” as the saying goes. 

Consolidation trends are driven by simple economics: those with capital are seeking the best return on their dollar, and hence that capital tends to get invested where it’s likely to grow or multiply the fastest - typically in companies exhibiting stronger growth and profitability.  When there is not much external or general industry growth, one of the few ways for companies to grow is by acquiring competitors. Top-line revenues increase, while duplicated expenses like overhead staff, accounting, computer systems, rent, marketing, and so on can be “consolidated.” Sales go up and percentage costs go down. That’s the theory, at least.

It wasn’t until the 1990’s that the bicycle industry really attracted sophisticated, professional investors – the kind of capital that typically invests in boom and bust cycles in consumer businesses. Previously, during the road bike “bust” after 1973 (when over 15 million bikes were sold in the U.S. – still an all-time record!) a wave of consolidation did occur as the market contracted by more than 50% in just three years, but it involved primarily a handful of foreign manufacturers, a few savvy U.S. strategic investors such as the Cohens at West Coast Cycle, and a whole lot of smaller and struggling “mom and pops.” It didn’t feature much outside capital as Wall Street hadn’t yet discovered the bike industry. 

Fast forward 20 years. The mountain bike boom of the early 1990’s attracted a lot of investment dollars flowing into a rapid expansion of off-road-themed retailers and suppliers – remember all those outfits with CNC machines turning out brakes and hubs?  – to service what was essentially a new market. When the boom peaked in about 1996 and sales growth in that new sector began to flatten, many of these new companies merged with their competitors, or went out of business. 

Since then, consolidation in the bike industry has been largely driven by four actors: (1) financial investors, such as the private equity firm Questor that owned Schwinn, enabling it to buy GT Bicycles in 1998; (2) “strategic” buyers such as Bell Sports (often backed by Wall Street investors) that have vacuumed up well-known brands like Giro, Blackburn, Mongoose, and Vistalite; (3) a rather amorphous “other” category that might best be called “enthusiasts” – wealthy, but non-professional investors who are cyclists and who want to invest in the sport they love (similar to the wealthy patrons who back many pro cycling teams). This remains a surprisingly large and vibrant category, as witnessed by much of the merger and acquisition activity reported at bicycleretailer.com. And finally, (4) are retailers and firms who “consolidate” themselves out of business, because they can’t find a buyer, or can’t be bothered to carry on in tough times. 

Historically, the more sophisticated financial buyers tend to invest in the bike industry toward the end of a growth cycle – and in order to continue their returns they tend to act as vehicles which consolidate competitors. In the Wiggle-Chain Reaction combination, Wiggle owner – London-based private equity firm Bridgepoint – invested in 2011, and to keep their investment growing, they probably felt they needed to merge with their largest competitor. And as a larger publicly-held company Amer Sports knows the stock market won’t accept flat growth like they have had in the cycling sector with Mavic; the company apparently sees the combination with Enve as a way to reverse that trend. What’s significant is that both deals are being driven by savvy financial players – a trend surely to continue. 

So, in terms of what’s next – probably more consolidation, and more deals like this between both large and small companies, as the industry repositions for the future. But while the high-end road bike renaissance may have passed, don’t worry. As in virtually all other consumer business, another cycle of growth and diversification will come eventually. Perhaps it will come in the form of commuter or e-bikes, or in a resurgent off-road category. But change and innovation will happen, one way or the other. There will always be new technologies, and customers will always demand new products. And in each cycle new and exciting companies will be born. For evidence of that, we only need to point to some of the outstanding companies that were founded during that grim round of consolidation in the mid-1970s – companies like retailer Bicycle Gallery and manufacturers Specialized and Trek. 

Steve Maxwell is co-editor of the cycling website, theouterline.com and managing director of TechKNOWLEDGEy Strategic Group, a Boulder, Colorado-based firm specializing in merger and acquisition advisory services. Felix Magowan is partner at Pocket Ventures, a private equity firm, former owner of VeloNews, and a founding investor & board member at Pearl Izumi. Maxwell and Magowan have advised dozens of firms on strategy and transactional issues, and can respectively be reached in Boulder at (303) 442-4800 or (303) 443-4360, or via e-mail at maxwell@tech-strategy.com or fmagowan@pocketventuresllc.com

 

VeloPress publishes latest Feed Zone book: Feed Zone Table

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BOULDER, Colo. (BRAIN) — VeloPress is offering a new cookbook from chef Biju Thomas and Dr. Allen Lim. Feed Zone Table: Family-Style Meals to Nourish Life and Sport is now available in bookstores, specialty retailers, and online.

In Feed Zone Table, Biju and Allen offer more than 100 all-new recipes to bring friends and family to the table in a way that nourishes life and sport. Feed Zone Table will inspire family-style dinners with a delicious lineup of drinks, starters, main courses, side dishes, fresh sauces, and desserts.

The authors said enjoying dinnertime and eating well will nourish you, your family and friends, and your sports performance. Dr. Lim shares new research on how social meals benefit us physically and emotionally. Lim reveals why it matters-what science has to say about food, camaraderie, performance, and the pivotal role that the dinner table can play in an athlete's preparation.

Feed Zone Table adds 100 new recipes to the popular Feed Zone series which includes best-selling cookbooks for athletes The Feed Zone Cookbook and Feed Zone Portables.

The hardcover with full-color interior and more than 200 photographs retails for $24.95.

For more information contact Dave Trendler at VeloPress at dtrendler@competitorgroup.com.

Lezyne appoints new sales reps in international markets

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TAIPEI, Taiwan (BRAIN) — Lezyne is hosting some of its international distributors at its Taichung, Taiwan manufacturing facility this week prior to next week's Taipei Cycle Show, where the brand's YEAR 10 line-up will be presented.

Lezyne also announced some new additions and restructurings to its U.S. and international sales teams:

Brian Billington took over the role as Pacific Oceanic sales manager. In his new role, Billington will be handling South America, Canada, New Zealand, Australia and Lezyne's U.S. distributors. Furthermore, he will oversee the Asian markets together with Lezyne's new Asia sales manager, Eric Chiang.

In Europe, and working with Lezyne's longtime European sales and marketing manager Alex Mai, Lezyne has added Arnaud Berg. Berg will assume the role as the brand's new junior European sales and marketing manager.

Brad Buxton has been promoted to USA inside sales manager. He will lead Lezyne's San Luis Obispo, California-based customer service and warranty departments, U.S. warehouse and our U.S. sales reps.

Ulrike Prokasky will maintain her role as global sales and marketing director. "We are extremely excited about our new hires and the promotions from within!" Prokasky said. "Lezyne continues to grow globally and our newly expanded sales force will keep us heading the right direction."

 

WTB introduces 'Road Plus' tire size

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SACRAMENTO, Calif. (BRAIN) — WTB will be unveiling a new 650b tire named the Horizon 650 x 47c Road Plus TCS at the North American Handmade Bicycle Show this weekend.

Referred to as "Road Plus" by WTB, the Horizon 650 x 47c tire measures the same outside diameter as a 700 x 30mm road tire and is intended to be used with endurance road and gravel applications. WTB said this is a similar concept as the 27.5-plus size, where an oversized 27.5-inch tire equates to the same height and diameter as a traditional 29er mountain bike tire.

"At the same overall diameter as current endurance road bikes, the geometry remains unchanged – bottom bracket height, axle to crown, relative angles, all stay the same," said Chris Feucht, WTB's manager of new product development. "Only additional chainstay clearance may be needed, though quite a lot of existing bikes on the market already clear this size."

WTB has compiled a list of currently compatible frames, which can be viewed on its website. Additionally, several bicycle brands have models arriving this fall accommodating the tires. Masi will launch the Speciale Randonneur bike this fall with the tires, for example. 

Masi's product manager, Kellen LeBlanc, said, "The Speciale Randonneur is a sport touring bicycle designed for long hauls at speed while still retaining a comfortable ride. It's designed to be loaded with weight on the front fork while also boasting a superb ride quality. Like traditional randonneuring bicycles, 650b tires are a must, which is why we have chosen WTB Horizon Road Plus TCS tires – fast rolling, comfortable tires that soak up the bumps so your body doesn't have to!"

Brodie Bikes, Miele, and Rawland will also be supporting the size, WTB said. 3T will offer a new low spoke count, wide carbon fiber wheelset optimized for Road Plus. The 3T Discus Plus wheels will be offered in LTD, Team, and Pro versions with the Team model arriving with preinstalled Horizon 650 x 47c Road Plus TCS tires.

"The key to Road Plus is its versatility," saod Will Ritchie, WTB's drop bar category manager. "It furthers what's great about current endurance road bikes – more compliance, less road noise and abuse on the body – and expands on this without having to push a bigger overall wheel than necessary. Our TCS [Tubeless Compatible System] version of the Horizon 650 x 47c Road Plus tire really takes advantage of this extra volume, allowing for a smoother ride on the road, a larger contact patch and lower pressure for taking things into dirt, and a more stable ride while touring or carrying extra weight. You can really see a lot of this potential with both the Hunter and Soulcraft bikes here at the show – they're immaculately elegant road-going bikes as we'd expect from these guys and the relatively smooth pattern of the Horizon Road Plus tire compliments this, yet they breathe capability. WTB is incredibly fortunate to be able to show the new Horizon Road Plus tires beneath these beautiful bikes from such accomplished builders – a big thank you to Sean Walling of Soulcraft and Rick Hunter of Hunter Cycles."

WTB Horizon 650 x 47c Road Plus TCS tires feature WTB's Lightweight Casing and Dual DNA Rubber Compound with preproduction sample weights of 515 gram. The Horizon 650 x 47c Road Plus TCS tire will retail for $67.95 with a projected availability of June. WTB recommends pairing the Horizon 650 x 47c Road Plus TCS tires with its KOM i23 and i25 TCS and Ci24 TCS rims to maximize the higher volume profile.

WTB will also be expanding its drop bar offerings with Exposure 700 x 30c and 700 x 34c Road TCS tires debuting at Taipei International Cycle Show next week.

 

PeopleForBikes to lead study tour of Copenhagen bike infrastructure

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BOULDER, Colo. (BRAIN) — PeopleForBikes is leading an immersive study tour in Copenhagen, Denmark, from June 6-11. Designed for delegations of local leaders, the CityBuilders Symposium combines meetings with Danish officials and transportation experts, hands-on site visits by bike, and facilitated strategy sessions on how to implement the best ideas back home. Previously only by invitation, enrollment is now open for all cities and communities.

"This intensive seminar emphasizes the role of the bike as a tool for city improvement, not as a goal in and of itself," said Martha Roskowski, PeopleForBikes' vice president of local innovation. "Delegates return home with a clearer vision, more inspiration and better tools to speed the implementation of current projects and create more robust long-term strategies."

The CityBuilders Symposium is designed for teams of four or more people from a city. City staff and elected officials typically make up the backbone of a delegation, joined by leaders from business and community groups, academics and philanthropists

Delegations will join experts for a rolling five-day facilitated conversation about transforming U.S. streets.

"Participants come home with a whole new vision on how multi-modal cities can work and the role of bikes in building that city," said Roskowski. "They will also develop a peer support system to help them turn inspiration into action when they get back home."

The $5,000 per person registration fee for the CityBuilders Symposium includes all on-the-ground expenses, including hotel, meals, local transportation, bike rental, expert speaker fees and guides. Airfare to Copenhagen is not included. A 20 percent deposit is due by April 1 to secure a delegation. Spaces are limited.

More information: peopleforbikes.org/studytours.

Accell's IBD sales down in North America, but Ghost sales and strong dollar boost 2015 results

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Global revenues were up 9% last year thanks to e-bikes; profits up 33 percent.

HEERENVEEN, Netherlands (BRAIN) — Accell Group is reporting that its global profits and revenues were up significantly in 2015, largely thanks to e-bike sales in Europe. But North American IBD sales remain a sore spot for the Dutch company, which offers Haibike, Raleigh, Diamondback, Ghost and Redline bikes in the U.S. and Canada.

The company said IBD sales in North America declined 10 percent in U.S. dollars, but sales through multi-sport retailers were strong — in particular, sales of the Ghost brand through REI in the U.S. and MEC in Canada. It said its average bike price in North America increased in 2015 (it didn't say by how much), even though e-bike sales in North America remain "limited."

Accell said it "will take additional measures to strengthen the position of our own Raleigh brand in the market" in 2016. It stopped selling Lapierre bikes in North America last year after an unsuccessful launch of the French brand.

Accell's P&A sales in North America also declined, which the company partly attributed to a trend toward dealer direct sales by suppliers. Accell's SBS distribution business realigned its warehousing and trimmed back its offerings in 2015; it announced in November it would stop selling Shimano parts.

Strong Ghost sales and the strong dollar combined to offset the weaker spots in Accell's North American businesses, resulting in an overall sales increase of 16 percent from the region.

Global revenues were 986.4 million euros ($1.077 billion) for the year, up from 882 million euros in 2014. Profits were up 33 percent, to 58.5 million euros.

While sales in the Netherlands were down 5 percent, the company saw sales increases in Germany (up 16 percent) and the rest of Europe (up 14 percent).

E-bike sales drove up Accell's average bike sales from 377 euros to 437 euros. Sales of electric bikes were up 20 percent and now account for 45 percent of the company's sales.

The total number of bikes sold declined in 2015, from 1.725 million in 2014 to 1.642 million last year.

The company also was carrying more inventory value at the end of 2015 than in prior years, partly due to the higher average price of bikes. It had 338 million euros in inventory at year's end, up from 244 million euros at the end of 2014.

Accell's bottom line for the year was trimmed a bit as a result of the theft of 4 million euros from the company's Taiwan office.

The company said it has concluded that the theft was an isolated incident and it is taking measures to prevent it from happening again. But the company has apparently decided it will not recover the money and wrote off a roughly 4 million euro charge on its 2015 figures.

Organizers expecting record turnout as NAHBS opens in Sacramento

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NAHBS exhibitors setting up this week. Courtesy photo.

SACRAMENTO, Calif. (BRAIN) — The 12th annual North American Handmade Bicycle Show opened Friday at the Sacramento Convention Center and runs through Sunday. The show has more than 150 exhibitors and organizers expect attendance to exceed the record set the last time the show was in Sacramento, in 2012.

"Each year, my team and I put countless hours of hard work into making this show a reality so we're very excited to see all of our efforts come to fruition," says Don Walker, Founder and President of NAHBS. "I love hosting a platform for independent frame builders from around the world to come together and showcase their creations."

NAHBS will be hosting a variety of special events and seminars during the show. For example Nelson Vails, the first and still only African-American cyclist to win an Olympic medal, will preside over five screenings of a film about his life, Cheetah – The Nelson Vails Story. There will also be NAHBS Group Rides each morning at 7 before the show, and nearby Mike's Bikes will host a "Go Ride with Nelly" event on Sunday at 8:45 where riders can spin along with Vails.

The show will present NAHBS Awards in 20 categories, including Best Road Bike, Best Mountain Bike, President's Choice, and People's Choice. Judging will happen on Friday with awards handed out Saturday and Sunday.

 


Crankbrothers appoints Peter Duynslaeger as global sales director

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LAGUNA BEACH, Calif. (BRAIN) — Crankbrothers has announced the appointment of Peter Duynslaeger as its global sales director. Duynslaeger will be based in Crankbrothers' headquarters in Laguna Beach.

Duynslaeger will replace Andy Hilliard, who has moved into a new role as Crankbrothers' product line manager. Duynslaeger, a native of Belgium, comes to Crankbrothers from Lazer Sport, where he managed international sales for their bicycle helmet and eyewear categories.

"Peter is an outstanding leader with strong experience in the bike industry, a solid foundation in international sales and history of success in developing customer relationships," said Gaspare Licata, Crankbrothers' CEO. "His expertise, energy and enthusiasm make him a great fit for both the brand and the role."

Duynslaeger said, "I am very excited to work for such an innovative and iconic brand. Crankbrothers has always maintained a sense of youthful energy and creativity in the way they approach their products, and maturity in the way they approach their customers and business partners. The brand is primed for growth and I'm looking forward to helping it reach the next level by strengthening existing relationships and building new ones with a vision based on mutual success. It's going to be a great ride."

Cannondale joins spring discounts move

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LONGMONT, Colo. (BRAIN) — Cannondale told its U.S. dealers Friday that it would launch a bike discount promotion in March and April, similar to that announced by Specialized, Trek and Giant recently.

A Cannondale dealer told BRAIN Friday that he was told the company was discounting about 40 models of road and mountain bikes by about 20 percent at retail and 15 percent at wholesale. The discounts will be available until the middle of April, and July terms will be extended on orders made before the end of March. Retailers who sell their existing inventory at the reduced retail price during the sale can get a credit to their account that will make up for the loss margin. 

Another industry source who has seen Cannondale emails regarding the promotion confirmed what the dealer told BRAIN. BRAIN had reached out to Cannondale earlier this week regarding any spring promotion, but the company has not yet responded. 

 

Frostbike 2016: QBP president touts ‘ecosystem’ concept to help dealers and brands thrive

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Also, Quality expands SaddleDrive dealer event to two sessions this summer in move to Reno.

MINNEAPOLIS and BLOOMINGTON, Minn. (BRAIN) — QBP changed things up a bit for this year’s Frostbike, the distributor’s annual open house at its flagship facility in Bloomington, Minnesota.

For one, the company invited fewer dealers, with 780 individuals attending from about 380 accounts, down 20 percent from last year. This was done intentionally to preserve resources for an expanded SaddleDrive summertime dealer event, which will be held at QBP’s Reno, Nevada, distribution center for the first time. SaddleDrive had previously been held at QBP’s Ogden, Utah, facility, which is being relocated to Denver this spring. And this year, QBP will hold two sessions of SaddleDrive, each lasting two days.

“We wanted to take dollars from this event to have more dealers at SaddleDrive,” said Rich Tauer, who became president of QBP effective Oct. 1 after founder Steve Flagg stepped down and transitioned into a role working on company strategy and mentoring others at QBP — including Tauer, a 25-year veteran of the company.

More notably, this was the first time QBP’s new leader presided over the company’s main open house and expo.

“I’m the shiny new president of QBP. I’ve been in the job all of five months,” Tauer quipped in introducing himself during Friday night’s opening reception at the Marriott City Center in downtown Minneapolis.

Tauer also encouraged retailers to participate in the new Dealer’s Choice buying program, which QBP introduced at last year’s Interbike and promoted at Biketoberfest, the company’s East Coast dealer event held in October at the Q-East distribution center in Lancaster, Pennsylvania.

“I know it's another program, and you guys have seen dozens of them,” he told retailers Friday. “This one is fundamentally different. It's a program that was really built to create that powerful strategy for everybody involved — building that partnership between suppliers, QBP and dealers.”

The program, which requires no preseason order or large commitment to product, launched just before Interbike with about 28 suppliers that QBP vetted for “dealer-centric” practices, eventually expanding to a total of 45 brands, including QBP’s house labels.

Dealer-centric means four things, Tauer said:

  • The supplier has great product.
  • It enforces a MAP policy.
  • It has channel integrity and knows where its products are being sold.
  • It has a sustainable margin for stocking dealers.

“By sustainable margin I don’t mean a sustainable paper margin. What I mean is that at the end of the year, when you look at how things went for that category or that brand, you realized the price that you paid and the price that you sold it for, those things match up — they were what you expected them to be,” Tauer said.

Dealer’s Choice is an early step in building what Tauer called the Q Ecosystem.

“That's a powerful business strategy for both dealers and suppliers to thrive and survive today and into the future. It's a partnership between suppliers, QBP and dealers. And partnership, I know, is an overused term, but in this case it's exactly what we believe we're building. Partnership is a core value of QBP, one we see as critical especially in today's retail environment. When we say partnership, everyone wins,” he said at Friday’s reception.

In a separate interview with BRAIN at Frostbike on Saturday, Tauer said Dealer’s Choice and the Q Ecosystem have their roots in internal discussions dating back to last spring, before he was named president.

“With all the changes happening (in distribution and at retail), we realized we have to change who we are as a company. We have to recognize that the way we have been doing things, which has worked exceptionally well, needs to evolve faster than it was evolving. So now we have this idea which is an ecosystem,” he said.

“And of course when you think about other companies in the bike industry, Trek and Specialized have their own ecosystems. And we started talking about it like the difference between an Apple and an Android operating system. Apple has a closed ecosystem. You can’t make software for Apple without all the rules from Apple that go along with it. You, the consumer, can buy into the Apple ecosystem, and Trek and Specialized have done some things that are similar where (retailers are) buying into what they’re doing. What we started talking about was an open ecosystem where there’s choice. … As a dealer you get to choose what you carry at your store the way you want to brand your store,” Tauer added.

Dealer’s Choice ran through Dec. 1 and will be reactivated July 1 with the model-year changeover. Tauer said the program’s initial run saw “moderate success.”

“It wasn’t as successful as we wanted it to be, and there were two reasons. One, it was too complex. I’ll say we have a history of making things too complex for dealers. And then secondly, the concept was new, and we were still figuring out how to talk to people and tell them what we were doing. So we felt good about the numbers, but we didn’t feel great about the numbers,” he said.

“What we felt great about was that the dealers who did buy in, they got it and were excited about it and asking more questions. And after we shut it down in December we had dealers coming to us and saying they get it now and wanted to sign up,” Tauer added.

 

NAHBS goes big in Sacramento with record attendance, ‘Road Plus’ bikes

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SACRAMENTO, Calif. (BRAIN) — This year’s North American Handmade Bicycle Show proved the old adage: If people don't have to fight 18 inches of snow, they will come.

And come they did. Saturday saw more than 3,500 riders and dealers cruising the aisles at the Sacramento Convention Center, and expectations were that Sunday would be almost as big.

Last year’s NAHBS show in Louisville, Kentucky, opened in a snowstorm that kept a few exhibitors from arriving, and closed with the threat of flooding. 

This year the weather was no hurdle, and in addition to the core focus on hand-built bikes, show organizer Don Walker, himself a notable custom builder, included many first-time exhibitors such as Japanese distributor Sim Works, Dutch/Swiss Edco, Detroit Bikes, Tout Terrain and others.

“We have 179 exhibitors, which is quite a bit more than we had at the show in Sacramento last time we were here,” Walker said. “But the focus is just like it's always been: on the framebuilders. But I also want to grow the show to bring as many people in as I can to see their work.”

And people turned out. A jubilant Tony Pereira said early Saturday morning that he already had orders for four bikes.

“Sacramento was so good four years ago I had to come back. And so far it's going even better than I had hoped. It's Saturday and the show just opened and I already have orders,” said Pereira, co-owner with Ira Ryan of Breadwinner Cycles.

Zak Pashak, founder of Detroit Bikes, is the first to admit he's an industry outsider even though his company welds about 10,000 frames a year in its Detroit factory.

“It's great here. We've been talking with a lot of dealers, which because I've never been to this show before, I didn't really expect,” Pashak said.

“Because our selling price is $700 for a complete bike we have a hard time convincing our customers that our bikes are actually welded in Detroit from U.S.-made tubing,” he said.

“Being in the context of so many U.S. builders means we don't need to tell that story. People get it because that's what they expect at this show. It's been good moving past that to be able to explain more of the details about the bike and the company,” he added.

The show is a lightning rod for trends in the hardcore enthusiast part of the market, which is why design and product management teams from the big brands cruise the aisles rubbing elbows with riders.

What did they see? In years past, porteur bikes with their various cargo racks dominated, or new takes on utility city bikes, or framebuilding focusing on the high art of the profession. This year was more varied, with porteur and city bikes alongside 10-pound road bikes and full-suspension fat bikes.

WTB launched its “Road Plus” Horizon wheel design that matches a 47-millimeter-wide tire to a 650b rim to deliver the same overall wheel diameter as a 700-by-30-millimeter road tire. The concept is similar to WTB's 27.5-plus tires, which fit an oversize 27.5 tire into the same overall diameter as a 29er.

“I had to dimple the chainstays a little more than I normally do on my 700c bikes to get the tires to clear, but I'm really looking forward to riding it after the show,” said Sean Walling of Soulcraft.

Walling said many of his road customers are asking for greater tire clearance, but there is only so much that can be done to a road bike before it turns into a 29er. The 650b move gets the tire volume up to where riders want it, but holds wheel weight down for a quicker feel and keeps the frame compact and more proportional for people of average height.

“We will see how many people place orders to really gauge how it's going to sell, but riders keep wanting more volume in their road tires and this gets that done,” Walling said.

Hunter Cycles also showed a frame built around the Horizon wheel package.

It's no surprise the adventure category is big. Calfee Designs packed an amazing array of adventure-friendly components into its Dragonfly Adventure bike.

In addition to a carbon adventure fork that turns the top fender mount into a handlebar pack support, the company lined its Honjo aluminum fenders with a layer of carbon that not only keeps the fenders from shaking, but quiets them from ringing with road vibration.

And its Firefly, a carbon seatpost with integrated rear water bottle carrier behind the saddle, taps the internal Di2 battery to light up a string of red LEDs in the carrier, illuminating the water bottle.

“The water bottle looks like it's glowing red from the inside, and is much more noticeable from more angles than just a string of LEDs,” said Rob Baird, Calfee assembly manager.

Calfee is offering a one-piece bar and stem service that allows a rider to send them in their carbon stem and bar clamped in their preferred position. The company then removes the bar hardware and front faceplate and wraps carbon around it, turning it to a one-piece setup so adventure riders don’t need to worry about hardware loosening up.

Erik Noren of Peacock Groove showed a 24-inch fat bike with one-off Hed rims, and there were many other 20- and 24-inch fat bikes around the floor.

“Current fat bikes are really big — too big for many riders who like winter riding. Dropping down to a 24-inch rim, as you can see, not only makes the bike look like more fun, but it is just a better size for many riders,” Noren said.

Noren's one-off show piece, an electric-assisted cargo trike with a large 4-foot cargo platform, may not end up being a one-off. He raised the price to where he thought people would lose interest: $15,000. Instead, a few people said they would be in contact after the show.

Other than Peacock Groove's cargo carrier, there were noticeably fewer electric bikes at NAHBS than in years past.

ACT Lab to open testing facility in Taiwan

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LONG BEACH, Calif. (BRAIN) — Due to continued demand for products sourced from Taiwan, ACT Lab will open an independent third-party product safety and compliance testing facility in Taichung, Taiwan, in the third quarter of this year, the company announced.  

ACT Lab was established in 2009 following the passage of the Consumer Product Safety Information Act of 2008 and specializes in testing bicycles, helmets and children’s products and accessories to meet federal requirements and regulations.

The independent, third-party testing lab has facilities in Long Beach, California, and Taicang, China. 

“Since ACT’s inception we have envisioned opening a testing lab in Taiwan. With continued demand from our customers and the current global regulatory climate, those plans will now come to fruition,” said John Bogler, ACT’s president and general manager.

In 2015 ACT hired Brad Hughes and the Matisse Worldwide Corporation to consult with the new lab’s opening. The Matisse Corp., which is based in Taichung, has provided knowledge of governmental and business relations in the region. Matisse’s contacts and experience within industries that ACT serves have assisted with the initial phase for the lab’s launch.

Once online, ACT Taiwan will begin research and development and regulatory compliance mechanical and chemical testing on bicycles, electric bicycles, bicycle components, cycling accessories, scooters, toys and other sporting goods and general consumer products destined to the Americas, Europe and other regions. 

ACT also plans to offer a wider variety of quality, inspection and auditing programs to customers doing business in Taiwan in support of increased international mandates and requirements.

The lab’s address in Taichung will be announced later this year.

Fizik hires Ballantyne as N.A. marketing director

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POZZOLEONE, Italy (BRAIN) — Italian shoes, saddle and accessories brand Fizik has hired Scott Ballantyne as marketing director to grow its brand presence in North America.

“His previous roles across the technology and corporate sectors, as well as his experience with cycling brands, makes Ballantyne uniquely equipped to take on these demands,” the company said in a press release.

Ballantyne has held stints with Competitive Cyclist, Backcountry and Motorola. He’s been marketing director, vice president and chief marketing officer for some of the largest companies in the technology, outdoor, cycling and fashion sectors, according to Fizik.

“We are delighted to welcome Scott to Fizik and value the insight and wealth of experience he brings with him. This is a very important time in the development of Fizik, as a brand and as a company, so it is the right time to embrace such a compelling and experienced figure as Scott,” said Alberto Fonte, Fizik’s brand director.

Ballantyne is based in the newly established Salt Lake City office for Selle Royal North America, Fizik’s parent. Selle Royal also owns Brooks and Crankbrothers. Ballantyne will report to Fonte. 

Race Face/Easton bolster Fox Factory’s revenues

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Suspension brand sees double-digit growth in fourth-quarter and full-year sales thanks to acquisition of RaceFace/Easton.

SCOTTS VALLEY, Calif. (BRAIN) — Fox Factory Holding Corp. posted nearly 30 percent growth in revenue in the fourth quarter of 2015, the company announced Monday. Sales for the quarter totaled $95.7 million, compared with $74.1 million for the same quarter the previous year. The company reported that gross margins also were up, at 29.9 percent compared with 29.6 percent in the same period the year before. Net income was up substantially, at $6.8 million, compared to $2.9 million for the same quarters in 2015 and 2014, respectively.

The fourth quarter gains reflect a 37.1 increase in sales of powered vehicle products and a 23.3 percent increase in sales of bike products. The increase in bike was primarily because of Race Face/Easton, which the company acquired in late 2014 and from the company’s legacy Fox business, the company said.

The increase in gross margin was due to improved efficiencies from moving production to Taichung of its bike suspension. But those gains were offset by changes in product and customer mix and higher acquisition-related costs. Excluding acquisition-related costs, non-GAAP gross margin for the fourth quarter increased approximately 90 basis points compared to the previous year.

Operating expenses were $19.2 million for the fourth quarter compared to $17.7 million in the fourth quarter of the prior fiscal year. The increase was due to Race Face/Easton acquisition-related expenses. Operating income was $9.4 million for the fourth quarter of fiscal 2015, compared to operating income of $4.2 million in the fourth quarter of fiscal 2014.

Sales for the full year totaled $366.8 million, an increase of 19.6 percent compared with 2014. Sales of powered vehicle products were up 21.6 percent and bike products were up 18.1 percent compared to 2014. Gross margins decreased slightly from 30.8 percent to 30.5 percent due to costs related to the West Coast port slowdown in the first quarter and the purchase of Marzocchi's mountain bike product lines in the fourth quarter of last year .

Net income for the year was $25 million, compared with $27.7 million in 2014. Adjusted EBITDA increased 14.4 percent to $63.5 million in 2015, compared to $55.5 million in fiscal 2014.

The company said it decreased debt, however, inventory is slightly up, from $59.2 million in December 2014 to $68.2 million in December of last year.

For the first quarter of this year, Fox Holding expects sales in the range of $73 million to $77 million and non-GAAP adjusted earnings per diluted share in the range of $0.12 to $0.16. It expects full year sales in the range of $375 million to $395 million and non-GAAP adjusted earnings per diluted share in the range of $1.05 to $1.13.

Larry Enterline, Fox's CEO, told investors during an earnings call Monday afternoon that the company is aware of worldwide economic conditions that suggest a slowing of sales. "2015 was challenging and conditions will persist, but Fox's position allows us to perform well despite the climate," he said. Still, the company is bracing for mid- to high-single digit growth in 2016, lower than its double-digit growth in 2015. 

Fox continues to reap the benefits of transferring production of its fork and suspension mountain bike products to Taiwan, which will continue to have a positive impact on margin growth, Enterline added. Enterline said the company has completed the transition of 80 to 85 percent of fork and rear suspension production to Taichung. The company also said model-year 2017 products are being well received by OEMs and athletes, and new, lower price point forks will be included in that lineup under both Fox and Marzocchi brands. 

Asked about reports of inventory glut in the channel, Mario Galasso, who heads Fox's various business divisions, said, "We're watching that. We don't think it will be model-year 2017 buzz kill. When we see reports like that we'll talk to customers and try to get a handle of where we are. We're in a relatively decent position to start off 2017." 

"We're cautiously optimistic," Galasso added about Fox's 2017 spec forecasts and share. 

Fox Factory was split off from Compass Diversified in a 2013 IPO. It acquired Race Face and Easton Cycling in December 2014, and certain assets related to Marzocchi’s mountain bike suspension in the fourth quarter of 2015. The company’s stock is traded on the Nasdaq stock market under the FOXF symbol, and its stock performance is tracked on BRAIN’s stock page.


Shimano unveils new urban group, new Sora, and updates to MTB components

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The new METREA group.

OSAKA, Japan (BRAIN) — Shimano offered a first-look at new mountain and road components, lifting the press embargo on the first 2017 components to be talked about this year Monday morning (midnight, March 1, Osaka time). All of the new products will become available this summer, but pricing was not made available.

Here are the details:

New urban group METREA

Shimano says its new "urban sport" group METREA U5000 offers a “sleek, elevated appearance and simple function.” The name derives from the combination of the words “Metropolitan” and “Real,” the company said, and Shimano focused on a clean-cut look and minimalist surfaces.

METREA offers two handlebar positions (flat bar or H-type setup), single (42T) and double drivetrain (42-32T) options with 11-32T 11-speed gearing, and a 12mm axle, disc-specific QR wheelset (30mm deep section rims). H-Type handlebars are becoming more popular on city bikes and Shimano’s PRO line will offer an H-type bar this summer.

METREA offers flat-mount hydraulic disc calipers. Designed for casual riders, it has an integrated chain guard. 

Trickling high-end features down to Sora, new mid-range disc wheels

Shimano unveiled a new Sora group, the R3000, which it pegs as the most affordable and versatile group for sports/fitness riders but featuring trickle down technology from higher end groups, including lighter shifting, more powerful braking, four-arm crank, and black-gray gloss finish. New Sora also takes a page from Dura-Ace 9000’s aesthetics.  

The group comes with double or triple compact cranksets and is updated with internally routed 9-speed STI dual control levers. Compact cranks (50-34T or 50-39-30T) now can be combined wider 11-34 cassettes, two extra teeth over previous Sora cassette.

For flat handlebar bikes, it’s being offered with a 5-arm 2x9 or 3x9 cranksets with chainguards, Rapidfire Plus shifters and brake levers benefiting from Optislick cables. Rim brake performance is boosted 20 percent, Shimano says, thanks to new dual-pivot brakes. Sora also now comes with flat-mount Sora-grade mechanical disc brake calipers. Sora R3000 will come spec’d on 2017 bikes.

New mid-range RX31 disc wheels feature new 12 mm “E-THRU technology.”

Shimano likens this to a QR locking mechanism, but with a new axle that enables easier adjustment with a new knob at the end of the axle.

MTB updates: Chainrings, cassettes, gearing and entry-level brake options

Shimano has used input from sponsored MTB athletes, including XC and trail riders, to introduce the Dynamic Chain Engagement on new XTR and Deore XT 1x11 chainrings. DCE provides superior chain retention, lower driving noise and increased durability, according to Shimano.

This is achieved with a modified tooth profile on both the XTR and Deore XT chainrings. Steel-plated teeth on the XT chainring offer greater durability while strengthened aluminum teeth on the XTR chainring reduces weight.

In addition, Shimano extended its 1x11 range to a super-wide 11-46T cassette. The new CS-M8000 cassette is compatible with XTR M9000 and Deore XT M8000 and weighs 450 grams.

And Shimano is also offering a new 11-speed chain QUICK-LINK for on-the-trail repairs. The link is compatible with all 11-speed Shimano chains.

Shimano also said it’s offering new gear combination on its 2x11 and 3x10 cranksets. Its 2x11 now comes with a 34-24T crankset (DYNA-SIS 11 FC-MT700), and its 3x10 crankset (MT300) comes in a two-piece crank arm with 40-30-22T rings.

Finally, Shimano said its offering two new non-series M365 and M315 hydraulic disc brakes for entry level bikes (below Acera). Both offer technology trickled down from premium brakes such as noise-free braking and quick bleeding.

These new brakes have a new lock ring style for 160mm or 180mm rotors for simple handling and installation. And Shimano is offering two new tools to make rotor installation easier — the TL-FC35 outer serration wrench or the TL-LR11 inner serration socket tool.

 

 

 

TAITRA announces 5th annual d&i award winners

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TAIPEI, Taiwan (BRAIN) – Clear blue skies welcomed visitors from all corners of the world and the industry to the 29th Taipei Cycle Show, which opens this week in Taiwan's capital city. This year's show, which opens Wednesday, will feature 1,112 exhibitors displaying all manner of bikes, components and accessories in 3,330 booths in about 65,000 square meters of the Nangang Exhibition Center on the western edge of the city.

The Taiwan External Trade Development Council held a pre-show press conference to announce the winners of the show's 5th annual d&i awards. Co-organized by TAITRA and the Taiwan Bicycle Association and executed but iF Design Asia, the awards recognize leaders in product innovation.

A total of 182 entries from a record 19 countries entered this year, with overseas entries increasing by 39 percent. The awards' jury panel selected 47 products entered into four categories including bicycles, components, accessories and e-bikes/pedelecs.

The jury panel includes Harry Chang of Gearlab Co., Rikaulau's Cheng-non Hsu, Adriana Monk of Monk Design, Ken O'Rourke of KOR Design, Belgium-based European Cyclist Federation's Kevin Mayne, Francois Liang of Taiwan's Cycling and Health Technology Industry R&D Center, and Markus Storck of Germany's Storck Bicycle.

"The entries this year are quite equally represented from each sector of the cycling industry," said Gearlab's Henry Chang. "There are as many daily living cycling related products as competition-related products. It is a very positive sign that cycling is developing evenly in all aspects."

Winners were selected based on the following criteria:

• Degree of innovation/creativity
• Quality of design
• Workmanship
• Material
• Sustainability
• Utility value
• Ergonomics
• Safety
• Functionality
• Universal design

Of the 47 winners, the following six companies received the gold award:

• Chuhn Chuan Corp. for its X-mini kids' push bike featuring a folding mechanism making it a unique alternative to wooden push bikes currently available on the market.
• Gigantex Composite Technologies for its disc brake-compatible carbon wheel with adjustable carbon spokes.
• Super B Precision Tools was recognized for its chain whip pliers, which use spring tension to fit the pliers to the cassette for easy removal.
• HydraKnight Innovation's warm and packable inflatable jacket
• BESV's CF1 city e-bike includes built-in lights, rack, lock and battery in an upright and comfortable frame.
• Coast Cycles won the gold Young Enterprise award for its Quinn compact commuting bicycle, which combines the chunky strength of a BMX frame with all the features ideal for urban riding.

All 47 d&i winners' products will be on display at the show, which runs March 2-5 at the Nangang Convention Center in Taipei.

Fuji releases new Gran Fondo line in Taiwan

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TAIPEI, Taiwan (BRAIN) — Advanced Sports' Fuji brand updated its Gran Fondo line of comfort/performance road bikes with a new frame material technology that damps vibrations.

Fuji uses VRTech (Vibration Reduction Technology) uses layers of a natural fiber treated with polyurethane, strategically placed within the frame and fork's carbon layup. The extra fiber is placed in the seat- and chainstays and fork blades, and adds less than an ounce to the total weight of the frameset, said Fuji's road product manager, Steven Fairchild. The company spent several years finding the right material supplier and then deciding where and how to use it most effectively in the frame. 

Fuji introduced the Gran Fondo to members of the international cycling media in Taiwan on Tuesday, taking them on a 30 kilometer ride in the mountains east of Taipei. Journalists rode the new bikes for the ride, then hopped on identical bikes that lacked the VRTech material to feel the difference. Fuji's testing shows the feature reduced frame vibrations by about 26 percent.

Besides the VRTech feature, the new Gran Fondo line features disc brakes and front and rear 12mm thru axles. The rear dropouts are convertible to 135 OLD quick release for riders who already have wheels for that standard. Fairchild said Fuji has pushed for development of the 12mm front axle because it's lighter than the more common 15mm size borrowed from mountain bikes.

The Gran Fondo bikes have taller headtubes and slightly longer chainstays than Fuji's road race bikes, but have identical front end geometry. The frames also have internal routing for disc brake hydraulic lines, Di2 wires or mechanical drivetrains. Fuji also has smooth cable stops available for use with SRAM's eTap wireless drivetrain. Fuji is initially launching the line with all Shimano drivetrains but Fairchild said the company will offer an eTap-equipped bike soon. The frames have hidden fender mounts and BB30 pressfit bottom brackets.

The bikes come with 28mm tires. Fairchild said they will accept up to 32mm tires, depending on the tire brand, and will fit 30mm tires with fenders.

The line includes five models, ranging from the Dura-Ace-equipped Gran Fondo 1.1, retailing for $4,110, to the Gran Fondo 2.5, which retails for $1,940. The three 2.x models use a less expensive grade of carbon fiber to hit lower price points than the two 1.x models.

Fuji also plans to release a very similar line of women's bikes, called Brevet, this summer. The Brevet line will use the same VRTech feature with geometry and tube shapes optimized for women's bodies. 

 

Tern celebrates 5 years in business, enters new bike category

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TAIPEI, Taiwan (BRAIN) — Tern is celebrating its fifth anniversary at the Taipei Cycle Show this week, with the introduction of a new non-folding bike line, call Roji.

In four years, Taiwan-based Tern has developed a wide product line of folding bikes and accessories and a distribution network covering 70 countries. 

The new line was developed in collaboration with the Japanese design studio Kitt Design. Roji ("alley" in Japanese) bikes have 650C tires and unusual geometry; they are spec'd for urban riding and Asian body-types.

"Thanks to smaller wheels, they're a great fit for tight spaces, and with simple 1x8 gearing, they're versatile yet low maintenance," the company said.

Roji bikes come in four models, the urban-styled RIP and Clutch, and the classically styled Rally and Gleam.

Check this: Burke challenges industry leaders to measure their advocacy support

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Burke speaking at Velo-city Global in Taipei on Monday.

TAIPEI, Taiwan (BRAIN) — As he has done before, Trek's president, John Burke, has challenged the bike industry to support advocacy. At the annual Velo-City Global conference, held over the weekend and Monday in Taipei prior to the Taipei Cycle Show, Burke said climate change, in particular, made it critical that bicycle use increase in cities around the world, and he said industry support is a key factor toward increasing bike use.

Burke said bike companies are most effective when they act locally and globally, because it's obvious to him that bike use has increased significantly in cities where the industry has got behind it.

Burke presented a four-point check list:

  1. Is your CEO actively involved in creating a more bicycle-friendly world?
  2. Would local and national advocacy groups say your company supports their efforts?
  3. Is your company actively educating government organizations on the benefits of cycling?
  4. Has your company taken responsibility for transforming your home city, state, or country to be more bicycle friendly?

Burke said by his estimation, and after consulting with some advocacy experts, U.S. bike companies average 1.32 checks on the list.

"You would think more companies would support bicycle facilities, yet the reality is that there are very few bicycle companies that really support the bicycle movement," Burke said.

Burke noted that bikes are used for about 26 percent of trips in the Netherlands, compared to less than 2 percent in the U.S. But in cities where the government, local advocates and industry have worked together, the rate has increased significantly. Madison, Wisconsin, near Trek's headquarters, has a rate above 5 percent, he noted.

"What would happen if we were all at 26 percent? We'd see a significant improvement in world health .. You'd have a massive decrease in global congestion, and ... we'd have a major change in the environment and the bicycle industry would be five times its size."

After his presentation, Burke told reporters that he felt confident Trek scored a four on the checklist. He said other companies, large and small, also check all four boxes, mentioning QBP.

Burke spoke on the day's second panel session on economics at Velo-City Global. He joined Giant Bicycle's CEO, Tony Lo, and World Federation of Sporting Goods Manufacturers' secretary general, Robbert de Kock. Earlier in the day, a panel included Taiwan's Deputy Ministry of Transportation, Cho Shih-chao, British mobility expert Mark Major and Pon Bicycle Group's Armin Landgraf.

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