The German bicycle manufacturer continues to set itself ambitious growth targets.
Koblenz The German bicycle manufacturer Canyon wants to continue its aggressive growth path despite the current problems in the industry. “We want to increase sales to more than one billion euros by 2025,” CEO Nicolas de Ros Wallace told Handelsblatt. The long-term growth trend is intact. “We don’t see any crisis in the coming years, only normalization in the industry.”
The bicycle manufacturers had experienced a boom at the beginning of the corona pandemic. Due to the high demand and disrupted supply chains, customers sometimes had to wait months for components or a bike. But the warehouses are now full again, and some providers are giving hefty discounts.
The direct mailer Canyon, however, was able to increase sales significantly more than the market last year by 37 percent to 646 million euros. “Without the component shortages, we could have sold more bikes,” said de Ros Wallace. Double-digit growth rates are also planned for the next few years.
Canyon is growing significantly faster than the market
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