Bicycling

Thule Warns Of Bike Market Inventory Imbalance (SGB UPDATE) Thule Group said excessive inventory levels in the cycling channel have worsened in recent months and would impact sales and profitability in the second half of the year.

SoulCycle Shutters 23% of Its Studios, Reportedly Cuts 75 Jobs (Front Office Sports) Equinox-owned SoulCycle, known for its indoor cycling and spinning workouts, is closing 19 of its 83 studios in the U.S. and Canada.
SoulCycle CEO Evelyn Webster told employees the news on Friday, adding that the closures will result in some layoffs. CNN reported that around 75 of the company’s 1,350 employees will be laid off.

China’s Cycling Market Projected to Reach $16.5B by 2026 (Front Office Sports) The world’s second-largest economy has seen a major cycling boom as pandemic-related gym closures continue and people avoid crowds. 
China’s cycling market is expected to reach $16.5 billion by 2026, according to Research and Markets. That’s a significant bump from last year, when the sport’s market was estimated to be between $12 billion to $15 billion.

Pandemic Fuels Sports Biking Boom in Cycling Nation China (Bloomberg) Beijing (AP) -- Lindsay Mo couldn’t go to her gym after Beijing shut down indoor sports facilities in May because of a coronavirus outbreak. So she started cycling — and soon fell in love with the sport.

Tour de France Ratings Signal Strong Interest in Women's Competition (Morning Consult Sports) Tour De France Femme kicked off in Paris on July 23rd for the first time in 33 years, with 144 women competing on 24 teams. Dutch cyclist Annemiek Van Vleuten won, but the more noteworthy development might be the preliminary TV results, which showed that the women's competition surpassed expectations.