Munich Sometimes it’s a good thing when the big setback comes early. Alexandra Baum and her start-up Texlock had just sold the first few thousand stylish, innovative bicycle locks. Somebody posted a video on the Internet in which the lock was opened quite easily with a hardware store saw.
The lock with the innovative textile-based approach was designed more for theft attempts with a bolt cutter, which in reality occur much more frequently. “The shit storm after the video shocked us,” recalls the founder.
As difficult as enduring the glee of some anonymous commentators was: In the end, the incident helped to optimize the product early on. The “tex-lock 2.0” got a hardened core and is now also immune to attacks with a saw, the lock is ART-certified and accepted by insurance companies.
The Leipzig start-up survived the challenges of the early phase and is very much in vogue in the current bicycle boom during Corona times. A hip big city scene has developed that values individuality and is ready to spend a lot of money on getting around.
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Baum was the first to succeed in combining function with a lifestyle touch on the bicycle lock. “When I was cycling, it always annoyed me that, for example, the folding locks are so bulky,” she says. The Texlock locks, which cost 150 euros and are a patented hybrid construction made of metal components and high-tech fibers, are much easier to close to the lamppost.
Rain cover for cyclists
Texlock now has seven-figure sales – and has launched the next product on the market. The multifunctional rainwear “Raijn” can be worn as a parka and overall and is intended to protect commuters from rain as well as hikers. At 350 euros, it is not cheap either.
Sustainability has long been Alexandra Baum’s big topic. At the turn of the millennium she was already studying recyclable textiles in her fashion design studies. “Back then nobody had that on their screen, now suddenly everyone is green.”
The founder of Tex-Lock wants to gradually expand the start-up’s offering.
She wants to bring long-lasting products onto the market that are manufactured under fair conditions. The rain suit is currently still manufactured in China with high social and environmental requirements, but Texlock is looking for production opportunities in Europe. The locks are produced in Leipzig.
Baum founded Texlock GmbH in 2018 together with Suse Brand from Leipzig. This makes them an exception in the industry. “A lot is happening, but the bicycle industry is currently still very much male-dominated,” says Johanna Jahnke, who deals a lot with diversity and inclusion in her podcast “The Wonderful Bicycle World” and who co-founded the organization “The Women All Ride”.
At the decision-maker level in particular, there are almost only men. “I think that this is mainly due to the not yet well developed networks that are only just being formed.” In the textile sector and in the still young gravel and bikepacking scene, however, this is currently changing.
Work late into the night
No stones were put in her way, says Baum. “It wasn’t particularly difficult to start up. You just have to do it. ”She financed the first castles with a crowdfunding campaign, in addition to which there was the small governmental Exist support.
As a “working mum” who will soon be three, she often works late at night, says Baum. “I’ve never fully understood the hard separation between work and private life.” Entrepreneurship gives her the freedom to organize her time herself.
The situation in the industry is currently extremely favorable for everyone who has anything to do with cycling. During the corona pandemic, many rediscovered cycling. In 2020, sales of bicycles and e-bikes in Germany rose by 17 percent to more than five million bicycles. Sales including accessories reached ten billion euros.
Texlock is currently smaller than the big bicycle companies. But at least the Leipzig company has established itself in many bicycle shops alongside the dominant suppliers Abus and Trelock. Some competitors are also inspired by the “Tex-lock” locks, at least when it comes to their choice of color. The technology is protected by patents.
Texlock is growing by 30 percent a year
During the start-up phase, the company was able to win two silent partnerships; a larger round of financing is currently not absolutely necessary, although the next product launches are currently planned. Texlock is in the black and is growing by around 30 percent annually with a margin that, according to Baum, is already above the industry average.
It is definitely attractive to keep the majority in the company, says Baum. However, she can imagine strategic partnerships if it helps the company.
As an entrepreneur, Baum is already thinking ahead. Selling only the same lock over and over again might be a bit boring in the long run. The multi-layer technology is also attracting interest in industry, for example in the energy and transport sectors. Special e-bike connectors could also be implemented with it.
The exciting thing about entrepreneurship, says Baum, is that you keep learning. Even if the learning curve can be painful at times.
More: Bicycle industry grows out of its niche: “It was a crazy year.”