We Noticed: Tariffs Begin Impacting Bike Industry; Canyon Reduces US Workforce; Nike x Hyperice Recovery Boots

Lots of small bites flowing through our notebook this week. Here’s the top-line items that we’ve pulled out.

Tariffs Slow Giant Shipments; Specialized Adding Tariff Line Items to Dealer Invoices

Two of the largest bike companies — Giant and Specialized — have started seeing impacts to their business as a result of tariffs.

We start with Giant, which announced that shipments of bikes in March declined over 5% year-over-year. That comes on top of March 2024 representing a 17.4% decline in year-over-year business.

It’s also a massive drop-off from February, which saw shipments increase massively — up 31% — as companies rushed to guarantee pricing in the light of U.S. tariffs. In all, Q1 shipments sat at just north of $519 million USD, an improvement of 4.9 percent year-over-year.

Meanwhile, Specialized has begun adjusting pricing of models as a direct result of tariffs. Specialized announced in an email to dealers last week that it will list a 10% separate surcharge for tariffs on invoices for the new Turbo Levo 4 e-bike, beginning on bikes ordered after May 1st.

The email also said that all products beyond the Turbo Levo 4 would be impacted, with updated pricing to be confirmed before the May 1st increase. Specialized North America Regional Leader Jesse Porter said in the email that by listing the tariff charge separately that “Riders clearly see what they’re paying for — not a hidden cost” and that the brand will “maintain flexibility to update or remove the charge if government tariffs change.”

Retailers are instructed to pass the tariff charge directly to the consumer.

Canyon USA Reduces Workforce — But Not Due to Tariffs

Canyon’s USA arm has laid off an undisclosed number of employees as the brand goes through an “ongoing process” of evolving its business.

The company is utilizing what it calls a “shifting gears roadmap” in order to strengthen its hold in the increasingly competitive direct-to-consumer landscape in the United States. More brands than ever now allow for either a full direct-to-door experience, or will allow you to make your purchase online and then pick-up at your local retailer.

In service of expanding its footprint in the US, late last year Canyon announced an expansion of its service partners, adding 28 REI locations to its existing 66 independent service shop partners.

The brand also said that the workforce changes will allow it to drive swifter product development and to grow in new markets.

Nike and Hyperice Launching Hyperboot Next Month

Nike and Hyperice have announced that the long-awaited mobile recovery boot, called Hyperboot, will officially launch on May 17th.

The Hyperboot will allow users to walk, either indoors or outdoors, while receiving heat and dynamic air-compression massage. The bladder construction carries over from the existing Normatec line, while combined with HyperHeat. In all, it’s meant to speed up recovery in the foot and ankle.

The boot is controlled via Bluetooth pairing, allowing the user to then customize both compression and heat settings. Default session times are 15 minutes long, and the companies claim a range of battery life of 1-1.5 hours for max heat / compression up to 8 hours for massage function only. Charge times from a fully depleted battery are expected to take 5-6 hours.

Hyperice founder and president Anthony Katz said, “This collaboration is the culmination of years of work between our two brands to deliver innovative footwear and apparel for the athlete with the goal of enhancing their performance and recovery. And this is just the start.”

U.S. Olympic sprinter Sha’Carri Richardson said in a press release, “I was fortunate to be one of the first athletes to test the Hyperboot, and I can honestly say that I was immediately impressed. I felt the difference right away — especially the impact on my training. While wearing the Hyperboot, I am able to start warming up and recovering while still being mobile. This is a huge benefit while traveling and being on the go.”

Retail pricing in the United States will be $899 at launch, slotting between the existing Normatec Elite ($999) and Normatec 3 Legs ($799).

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