Bicycling

1/12/2023 |  Specialized Lays Off 8 Percent Of Its Workforce (SGB UPDATE) Specialized Bicycle Components announced it was laying off 8 percent of its employees, including company-owned retail stores in the U.S. and overseas, as part of a “transformation.”

1/3/2023 |  Kitsbow Launches Online Second-Hand Gear Store (SGB UPDATE) Kitsbow Cycling Apparel launched a retail store for used Kisbow apparel through its online direct-to-consumer store. The “Kitsbow Experience Apparel” store is a place where Kitsbow customers can sell their previously purchased Kitsbow gear.

12/15/2022 |  The National Cycling League Rides To $7.5 Million Launch (Forbes SportsMoney) As a symbol of modernity and speed, the popularity of the bicycle is entering into its next phase as a professional sport with the National Cycling League (NCL). This new league just raised $7.5 million as it rides to the next level of diverse sports ownership and innovation. Its majority minority and female ownership include NBA star Bradley Beal, former Bachelorette Rachel Lindsay and the NFL’s Jalen Ramsey among others. The NCL is poised to disrupt the traditionally vanilla-laced cycling sector by tapping into the global bicycle market projected to grow to $127.83 billion in 2029.

12/14/2022 |  Vittoria Group To Be Acquired By PE Firm (SGB UPDATE) Vittoria reported that private equity investors Telemos Capital have signed a binding agreement to acquire a majority stake.
London-based Telemos will invest with Vittoria’s senior management team and Wise Equity to build on its performance tire business and global growth. Wise made an initial investment in 2020 led by group Chairman & CEO Stijn Vriends, who, together with its senior management team, will re-invest to drive Vittoria’s ‘The Ride Ahead’ strategy.

12/12/2022 |  World gravel qualifier set for Northwest Arkansas (AXIOS Sports) The 2023 Highlands Gravel Classic will again be part of the Union Cycliste International Gravel World Series.
Why it matters: The Highlands race is the only U.S. qualifier for the UCI Gravel World Championships next year, which will happen in Italy in September 2023.

• Yes, and: One study estimated all cycling activity in NWA spurred an economic benefit of more than $137 million in 2017, and that's before major events like the Cyclo-cross World Championship and U.S. Pro Cup were added to the area's calendar.