GearUp, Inc. signed an agreement to distribute a new bike rack system called Figo in the U.S. Peruzzo s.r.l. of Rossano Veneto, Italy, manufactures the rack.

The Figo is named for the Italian slang term for "cool." The patented bike storage and display rack offers an infinite number of ways to store a bike and comes in different colors. With a 360-degree grip adjustment, it allows users to position their bikes in many different ways. The rack can hold the bike by its frame, seatpost and even stem. The rack retails for $79.99.

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Source: http://www.bicycleretailer.com