Giant starts 2026 with a sharp revenue drop, Garmin posts record 2025 earnings

Giant Group opened 2026 with a 21.6% fall in its January revenue, equalling a US$31 million drop from the US$148 million revenue in January 2025. While January is usually a key month for the upcoming season, Giant's weak start reflects continued inventory issues in its two core export markets, the US and Europe, alongside the wider market difficulties from the past few years. In 2025, Giant's revenue was more stable than in the year prior, but overall, the company continued the downward trend from 2024. While there was no clear drop in revenue following the US export embargo on Giant's Taiwanese products announced in September, the overall imports from Taiwan to the US more than halved compared to 2024. US Customs detaining Giant Bicycles shipments over forced-labor allegationsIn an extraordinary move, American customs officials will interdict the company’s US-bound shipments if they originate in Taiwan.Escape CollectiveJoe Lindsey Meanwhile, American fitness-tech group Garmin has been experiencing the opposite. Company-wide, Garmin hit record revenue of US$7.25 billion in 2025, up 15% from US$6.29 billion in 2024, while its net income rose 18% to US$2 billion. Garmin said its fitness segment (which includes cycling) grew strongly, though it framed much of that growth as coming from wearables. CEO Cliff Pemble said the company expects more product launches through 2026.