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6/4/2024 |  Detroit Bikes Brand Reenergized in New Company Launch (SGB UPDATE) A new bike manufacturing business has been created to own and operate the Detroit Bikes brand. In a LinkedIn post over the weekend, the new company said it was thrilled to announce the formation and launch of Beacon Manufacturing, which was established through the acquisition of Detroit Bikes from Cardinal Cycle Group (CCG). Cardinal Cycling Group acquired the assets of Detroit Bikes, including the brand, inventory and production facility in January 2022.
5/31/2024 |  Leatt Corp. Starts to Build Out its U.S. MTB Sales and Marketing Team (SGB UPDATE) Leatt Corporation, the South Africa-based developer and manufacturer of protective gear for the active sports market, reported that it is growing its team and investing in supporting independent bike dealers (IBDs) in the U.S.
5/20/2024 |  NBDA E-Bike Survey Reveals Leading Brands, Services and Systems (SGB UPDATE) The National Bicycle Dealers Association (NBDA) reported the results of its recent survey assessing ebike system suppliers. 
With the ebike category reportedly experiencing unprecedented growth, the trade Association of Independent Bicycle Dealers said the feedback it gathered from over 552 bike retailers across North America provides “invaluable insights into supplier performance and retailer satisfaction.”
5/14/2024 |  EXEC: Giant Group Sees Improving Bike Picture as April Shipments Close to Flat (SGB UPDATE) The Giant Group reported a sharp moderation of sales declines in April 2024 as shipments dipped just 1.75 percent year-over-year to NT$6.91 billion. The decline was the smallest year-over-year decrease in sales since April 2023, when sales grew 20.3 percent to NT$7.03 billion.
January 2024 sales were down 17.7 percent, February sales were down 27.2 percent and March sales declined 12.4 percent, resulting in first quarter results that were down 20.3 percent to NT$16.06 billion. This comes after sales fell 16.4 percent for the full year 2023 and fell 29.8 percent in the fourth quarter.
5/14/2024 |  EXEC: Giant Group Sees China Q1 Gains Offset by Inventory Reduction, OEM Sales Elsewhere (SGB UPDATE) Giant Group reported that consolidated revenue for the first quarter was NT$16.06 billion, a decline of 20.2 percent year-over-year from NT$20.12 billion. The decline more than doubled in the year-ago quarter when sales declined 9.6 percent versus the 2022 Q1 period. 
The Giant Group reports financials in the New Taiwan Dollar (NT$).
The Taiwan-based manufacturer of bikes, bike parts and components said the sharp sales decline in the period came despite increased bike sales resulting from the recent popularity of cycling in China, as the continuation of inventory reduction in Europe and North America, as well as order adjustments from OEM customers, impacted sales worldwide.

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