20 per cent-plus increase for the Japanese components brand
Shimano has labelled its Q1 cycle market sales buoyant in Europe, reporting a significant rise in sales.
Europe's mild winter, barring a cold snap in late January and early Feb, were cited as main reasons behind a 22.1 per cent rise in sales compared to the same period last year. Sales hit 49,808million yen, while operating income increased 40.9 per cent to 10,122 million yen (in the cycle side of Shimano's business).
The brand said: "In these market conditions, demand for Shimano products rose. Positive factors included the anticipation of further growth in demand for sports bicycles in China and robust retail sales in Europe and the US. Sales for the first quarter fulfilled forecasts."
Shimano's recent launches include the Zee gravity groupset.
In terms of outlook, Shimano added caution due to Europe's sovereign debt crisis – an issue now more complex following the elections in Greece and France – but saw more stability in the Japanese economy. The brand explained: "In these circumstances, the Shimano Group, while closely monitoring economic trends in Japan and overseas, is endeavoring to create a stream of captivating products complemented by agile and efficient production and logistics systems deployed to deliver those products worldwide.Article continues below
"Through these initiatives, we will take the lead in the creation of new cycling culture and sport fishing culture."