Sales at Bike Makers Merida and Ideal Plunge in Q3
Following last week’s report that revenues at the globe’s largest bike manufacturer fell by 25% last quarter, Giant Group’s smaller Taiwanese competitors also suffered significant declines. The industry is facing persistently high inventories through the distribution chain in the U.S. and Europe, and retailers are reluctant to order given weak demand for entry to mid-level models. Mainland China has been a bright spot, however, buoyed by the lifting of Zero Covid at the end of last year, along with a strong cycling trend. Recent insolvencies of some Signa Sports United entities, ... Log in to view full article.