– ISSUE 01 / 2024 –
2023 SRAM BIKE BIZ FRONT COVER a4.pdf
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FROM THE
E D I TO R
Cycling Industry Chat @CyclingIndustry
A BIG YEAR
www.cyclingindustry.news
“FROM a consumers’ perspective – the market is still buzzing and cycling continues to be a hot topic.” That quote from the Belgian cycle market orientated Velofollies show (page 10) makes a degree of sense. Consumers naturally have a limited level of attention for what’s going on in the bike industry, but will be significantly more interested in the many discounts and sales that are available (and have been available for a while). The problem with that is there are not as many consumers with cash in their pocket at the moment to take advantage of said sales. The British Retail Council says that retail sales have remained slow as the high cost of living enters a third year. January sales helped boost spending in the first two weeks, but did not sustain throughout the month. Larger purchases, like furniture, household appliances and electricals remained weak (can we include bicycles in that category? Probably). Meanwhile, we recently heard from the Society of Motor Manufacturers and Traders how the canny automotive industry has had a comparatively decent 2023 (its best year since 2019) because it doesn’t solely rely on consumers’ cash flow, it also sells to the corporate fleet market. In fact, corporate sales delivered almost all of the growth in car sales in 2023 in the UK. I can’t get over that cold hard fact, I’ll be honest. 2024 has all the hallmarks of being a significant year. Europe-wide the cycling industry appears to be prepping for the tide to (finally) turn for the market, having patiently hunkered down and trimmed back for many months. Here in the UK we have a general election to enjoy and presumably a bit of confidence to go with it when that’s settled. The Bank of England is talking about interest rate cuts this year, which should have a direct impact on consumer cash flow. Let’s not get too carried away, for sure, but there are a few opportunities ahead and indeed some light at the end of the tunnel. Possibly there’s the chance to do things a bit differently too, for a more sustainable (in every sense of the word) cycle industry.
Jonathon Harker jon@cyclingindustry.news
©2024 Stag Publications Ltd. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means without the prior permission of the publisher. The Publisher cannot be held responsible or in any way liable for errors or omissions during input or printing of any material supplied or contained herein. The Publisher also cannot be held liable for any claims made by advertisers or in contributions from individuals or companies submitted for inclusion within this publication. The opinions expressed are not necessarily those of the Editor or of Stag Publications Ltd.
MARKET DATA 2024 AVAILABLE SOON > GET YOUR LICENCE FOR THE NEW REPORT TO PURCHASE A LICENCE FOR THE 2024 MARKET DATA, PLEASE CONTACT LLOYD@CYCLINGINDUSTRY.NEWS
Publisher
Jerry Ramsdale jerry@cyclingindustry.news Editor
Jonathon Harker jon@cyclingindustry.news Sales Manager
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04 06 MARKET DATA - The Big Picture CIN01 2024_LAW.qxp 07/02/2024 14:16 Page 1
THE
BIG PICTURE
A lot has happened since Cycling Industry News first started gathering data from the independent retail front line. Covid, lockdowns, Brexit… (and that was just in 2020). How have average bike sale prices changed? Are the same threats still challenging bike shops? We dust off our first industry surveys and compare them with our latest to attempt to chart the changes and look at the big picture for the cycling industry…
T
here are some evergreen results from CIN’s Market Data over the years, like margin erosion dominating the list of ‘threats to independent retailers’. Why, you may pertinently ask, have these threats failed to be effectively dealt with? That’s possibly a larger issue that deserves some thought. Likewise, if certain categories persistently underperform for bike shops, then why do shops persist in stocking them – or is the data pointing to something else? Join us as we hunker down, look at the stats and wildly speculate if there are some big takeaways from years’ worth of data:
PRODUCT CATEGORY:
DEDICATING MORE SPACE TO ELECTRIC BIKES?
2018: 2020: 2021: 2022: 2023:
+49% +62% +52% +66% +54%
+ indicating proportion of respondents adding space for eBikes - indicates proportion of respondents cutting space for eBikes on shop floor
NOTE: Question asked was “Which product segment will allocate more/less floor space to in the coming year?” THERE ARE some straightforward stories to be gleaned from the longer term data gathered by Cycling Industry News over the years, not least the finding that independent bike retailers have been a champion of electric bikes. Back in 2018, electric bikes were the main product that retailers were planning to allocate more space to. It’s been a reliably similar story throughout virtually all CIN Market Data surveys that have followed, with electric bikes firmly in the plans of independent dealers. That probably won’t surprise many, but it’s worth pointing out. Individual bike brands will know how many eBikes they sell through independents, but it’s not hard to extrapolate that independents are a backbone of
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[-4%] [-6%] [-5%] [-6%] [-8%]
the UK’s electric bike market, with more dedicating more floor space over most of the last decade. When accounting for those retailers allocating less space to electric bikes, the results are startlingly clear and independent retailers’ passion for electric bikes has been stubbornly stable. Looking at the bigger picture, it’s clear that independent bike dealers have a sizeable stake in the future of the eBike market and will be rooting for advocates to sufficiently combat headlines about eBike fires and explaining the not so subtle differences between eBikes and electric motorcycles. In contrast, fellow micromobility stablemate electric scooters has seen a reversal in independent retailer popularity.
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04 06 MARKET DATA - The Big Picture CIN01 2024_LAW.qxp 07/02/2024 14:16 Page 2
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DRILLING DOWN INTO EBIKE PRICES SOLD BY INDEPENDENTS Back in 2018, the lead average price of an eBike being sold in an independent bike shop was £2,000-£2,500. Fast forward to 2023 and the average price of an eBike was £2,500-£3,000. While the 2018 survey found that the £1,000-£1,500 category was the second most popular price bracket for an eBike sold by independent bike retailers, by 2023 that price category was nowhere to be seen. That seems like a decisive increase. Last year, the second most popular price category for an eBike sold through independent bike shops was £2,001-£2,500, indicating a potential mix of inflation and customer readiness to spend more for better quality eBikes has taken place over this relatively short period.
PRODUCT CATEGORY:
DEDICATING MORE SPACE TO CARGO BIKES?
2020:
+3%
[-9%]
2021:
+17%
[-11%] + indicating proportion
2022:
+25%
[-23%]
2023:
+20%
[-16%]
of respondents adding space for cargo bikes - indicates proportion of respondents cutting space for cargo bikes on shop floor
NOTE: Question asked was “Which product segment will allocate more/less floor space to in the coming year?” STICKING WITH products that lend towards the utility sector, how have cargo bikes fared? Have independent bike shops steadily been making more space for them? Here the answer is far less clear cut. Cargo bikes became part of our regular lines of questioning from 2020 and on the face of it, shops have been making space for them, but a closer look at the stats and accounting for those shops removing cargo bikes from their shop floor, the market for cargo bikes and independent retailers looks a lot more flat.
Is part of the challenge the sheer size that cargo bikes take up? Possibly. It would undoubtedly be easier if you had a shop the size of a, for example, car showroom, to fit in a few cargo bikes. The stats seem to indicate that more shops have been dipping their toe into the cargo bike market and – for sure – plenty have decided the water isn’t the right temperature yet. Being a nimble independent retailer means a certain degree of flexibility over what is stocked and perhaps the stats are providing a particularly good example of this here.
“THE STATS SEEM TO INDICATE THAT MORE SHOPS HAVE BEEN DIPPING THEIR TOE INTO THE CARGO BIKE MARKET AND – FOR SURE – PLENTY HAVE DECIDED THE WATER ISN’T THE RIGHT TEMPERATURE YET.”
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08 09 NEWS ANALYSIS CIN01 2024_LAW.qxp 07/02/2024 14:17 Page 1
NEWS ANALYSIS
“THERE ARE HUNDREDS OF GOOD BIKE MECHANICS IN OTHER CAREERS”
How is the industry addressing the perceived shortage of bicycle workshop mechanics? We look at some of the challenges and latest moves by the industry to counter this challenge facing one of the bedrocks of the cycle industry UPSKILLING: The UK is facing a skills shortage across the board in many industries. The cycle trade is not immune from that challenge
“THE APPRENTICESHIP AIMS TO ENHANCE CUSTOMERS’ INSTORE EXPERIENCE WHILST ALSO CREATING A TALENT PIPELINE OF HIGHLY SKILLED BIKE TECHNICIANS.”
E
arlier this year, CIN went to the Cycling Industry Chat group on Facebook to ask local bike shops whether there was a shortage of bike mechanics in the UK. And was it hard to recruit skilled bike mechanics? The discussion swiftly developed, painting a picture of a sector that was struggling to pay mechanics well despite the workshop being a lynchpin for many. Likewise, responses indicated that there was an unwillingness of customers to understand the skill and time that went into bike servicing and repair and an accompanying unwillingness for them to pay well or appropriate fees. Further posts spoke of a bike mechanic brain drain, with multiple skilled technicians leaving the industry in favour of better paid work. Industry efforts The UK is the eighth largest manufacturing nation in the world, but there’s a widely reported lack of skilled workers available across a number of industries, not least in construction. That extends beyond hands-on engineering related skills, also including insufficient digital
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skills. An estimated 20% of the workforce (6.5m people) in the UK will be significantly underskilled for their jobs by 2030, a sobering statistic from the Oxford Learning College. In the cycling industry there have been a number of moves to chip away at the problem. Activate Cycle Academy and ZyroFisher opened a Cytech training facility, managed by the Association of Cycle Traders, in early 2022. Speaking to CIN in late 2023, ZyroFisher CEO Tom Ainscough said: “The Cytech training workshop continues to go from strength-to-strength. Having the Cytech workshop based at ZyroFisher has had a positive impact on the delivery and reach of the bicycle mechanics apprenticeship in the North East area. The number of apprentices enrolled on this training programme in this part of the country, has grown steadily since the workshop opened. “Bringing this level of specialist bike mechanics training to ZyroFisher, shows our commitment to help address the industry-wide recognised shortage of trained and skilled mechanics across the UK. It’s been hugely beneficial to partner
08 09 NEWS ANALYSIS CIN01 2024_LAW.qxp 07/02/2024 14:17 Page 2
with Activate Cycle Academy with this workshop. They bring so much experience and expertise in delivering this level of skilled technical training to the cycle industry. We look forward to continuing this partnership for many years to come.” Activate Cycle Academy has also recently begun working with sizeable cycle retailers in the UK, including Go Outdoors and Evans Cycles. Announced in early 2024, the Activate Cycle Academy and GO Outdoors collaboration saw a new work-based training apprenticeship programme established for store colleagues in England. GO Outdoors said it had trained over 200 colleagues internally and launched this bike mechanic apprenticeship offering to provide a different avenue to prospective and existing colleagues, to result in an industry-recognised qualification being gained. The apprenticeship aims to enhance customers’ in-store experience whilst also creating a talent pipeline of highly skilled bike technicians. Those who finish the Level 2 Apprenticeship in Bicycle Mechanics will be given Cytech training and a certificate as part of the programme. On completion, the apprentice becomes a fully trained professional “master technician” bike mechanic. To take part in the programme, GO Outdoors colleagues are either recruited or nominated by their manager and once onboarded, they will begin a mixture of online, mentored and technical learning provided by GO Outdoors and Activate Cycle Academy. Jonny Lodge, National Sales and Operations Manager for Cycling at GO Outdoors said: “The decision to introduce a cycling apprenticeship into GO Outdoors has come from a place of passion and experience... Importantly, it supports our aims to continuously invest in and develop our colleagues, whilst addressing the national
bike mechanic shortage by bringing more skilled technicians to the industry.” Late 2023, Evans Cycles revealed it had launched an 18 month apprenticeship programme for bike mechanics designed to provide aspiring cycle mechanics with the essential knowledge, skills and behaviours required to excel in the field. Again in partnership with Activate Cycle Academy, the scheme was touted as part of Evans Cycles’ strategic training and development overhaul which includes collaborations with key industry partners to launch a series of supplier-funded educational courses to enhance the expertise of Evans Cycles store colleagues and workshop teams, enabling them to provide even better service to customers. Matthew Atkinson, Head of Cycling Development at Evans Cycles, said at the time: “It underscores our commitment to fostering excellence in the industry by raising the standards of bicycle maintenance and repair and helps people make a career out of their passion. We also know that developing our colleagues’ skills, confidence and capabilities further improves the quality of service we can provide to our customers. It’s a win-win.” On a smaller scale, Balfe’s Bikes has begun its plan to introduce Cytech apprentices to its stores as well as upskilling existing staff through the Cytech training programme. As noted in the aforementioned Cycling Industry Chat discussion, the difficulty is not just in a lack of candidates to staff the nation’s workshops, but also making sure they don’t leave the industry. That could prove to be one of the crux issues, along with bike workshops being able to charge sufficient fees to provide sustainable workshop wages. Have your say and email CIN at jon@cyclingindustry.news
Upskilling workshop staff and providing a path to develop is increasingly popular among larger cycle retailers
“IT UNDERSCORES OUR COMMITMENT TO FOSTERING EXCELLENCE IN THE INDUSTRY BY RAISING THE STANDARDS OF BICYCLE MAINTENANCE AND REPAIR AND HELPS PEOPLE MAKE A CAREER OUT OF THEIR PASSION.”
Brain drain: Training up sufficient mechanics is half the battle, retaining them is the other
cyclingindustry.news 09
10 12 14 16 SHOW REPORT - Vellofollies CIN01 2024_LAW.qxp 07/02/2024 14:17 Page 1
SHOW REPORT Velofollies
BELGIAN BICYCLE CRAZINESS From 19 to 21January, the Belgian “Velofollies” show kicked off the season. CIN was on the scene, keeping our finger on the pulse of the latest trends and the current state of the bicycle market. Words + photos: Werner Müller-Schell
"FOR US BELGIAN BRANDS, THIS IS A MUST-ATTEND EVENT. WE ALSO BENEFIT FROM THE EARLY DATE SINCE IT GIVES US A REAL FEEL FOR THE SITUATION ON THE MARKET.”
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W
ith over 300 exhibitors, internationally renowned brands and celebrities you could rub shoulders with, Velofollies marked the first major European bicycle trade show of the year. From 19 to 21 January, approximately 45,000 visitors travelled to the Flemish city of Kortrijk to get an overview of the latest innovations and market trends. True to its name “Velofollies” – which translates to “bicycle craziness” – the show was buzzing from the start. The halls were packed throughout the threeday event, and several side events created a great atmosphere. Additionally, cycling legends like Belgian Paris-Roubaix winner Johan Museeuw and former classics specialist Paolo Bettini made appearances, adding to the show’s flair. “Velofollies has always been a show for consumers from the Benelux region,” organiser Pieter Desmet explained in an interview with Cycling Industry News on the first show day. “That’s been our identity for 16 years, and we’re not looking to change it. Yet, it’s also become a hotspot for retailers, and also brands are using the event for B2B purposes.”
CYCLING TRENDS I: Gravel and Eddy Merckx Relaunch During a stroll through the exhibition halls, it was evident that – despite or perhaps because of its off-season timing compared to industry events like Eurobike or Taipei Cycle Show – many companies used Velofollies for product launches. The hottest topic: Gravel bikes. Numerous brands showcased exciting models, with Van Rysel’s booth drawing particular attention. The Decathlon-owned brand unveiled a concept for ultra-bikepacking races, featuring aluminium tubes connected with carbon elements. According to the manufacturer, this is supposed to be more comfortable than a conventional carbon or aluminium frame. Belgian manufacturer Eddy Merckx also used the event for a major brand relaunch (see page 18), introducing new racing and gravel bikes. One of their highlights: under the “Retrosonic” banner, they’re bringing modern models with a retro twist to the market. Stefan Aerts, Brand Manager at the parent company Belgian Cycling Factory, called Velofollies “an ideal opportunity” for the relaunch. “For us Belgian brands, this is a must-
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10 12 14 16 SHOW REPORT - Vellofollies CIN01 2024_LAW.qxp 07/02/2024 14:17 Page 2
SHOW REPORT Velofollies
Cycling legends like Belgian Paris-Roubaix winner Johan Museeuw and former classics specialist Paolo Bettini made appearances
“BELGIAN MANUFACTURER JAEGHER DEMONSTRATED HOW 3D PRINTING AND AI HAVE ALREADY ARRIVED IN THE INDUSTRY, WITH ITS “FL.X ASCENDER PHOENIX” CUSTOM RACING BIKE .”
Right: The Eddy Merckx brand had a major relaunch at the show
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attend event. We also benefit from the early date since it gives us a real feel for the situation on the market.” CYCLING TRENDS II: Speed Pedelecs and Custom Bikes Speed Pedelecs were also in high demand. Eye-catchers included Swiss newcomer Opium and the Dutch brand Gazelle, which showcased its new “Eclipse Speed HMB”, a fully integrated high-speed eBike with SUV character. There was even room for a bit of “craziness”, with Belgian manufacturer Jaegher demonstrating how 3D
printing and AI have already arrived in the industry: its “FL.X Ascender Phoenix” custom racing bike utilises 3D-printed parts and AI to calculate dimensions based on customer measurements. Speaking of custom products: individualisation was surely a key theme, with more manufacturers offering configurators and unique paint jobs to stand out. One of many eye-catchers was Ridley’s “Kanzo Fast” which was presented in a “Tomorrowland x Ridley” special edition, paying homage to the famous Belgian dance festival. Local brand Atom 6 also
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10 12 14 16 SHOW REPORT - Vellofollies CIN01 2024_LAW.qxp 07/02/2024 14:17 Page 3
SHOW REPORT Velofollies
“FROM A B2B PERSPECTIVE, THE RELEASE OF THE 2023 DATA ON THE BELGIAN BICYCLE MARKET BY THE MOBILITY AGENCY TRAXIO WAS OF GREAT INTEREST.”
made waves with custom paint designs, as did Spanish brand MMR with bikes honouring the professional peloton. Another crowd favourite was the BH Bikes Aerolight in a special version designed by Spanish artist Raisa Álava. Belgian Market Data: eBikes, eBikes, eBikes From a B2B perspective, the release of the 2023 data on the Belgian bicycle market by the mobility agency Traxio was of great interest. For the first time, more eBikes (51.3%) were sold in Belgium than traditional bikes, up from 47% in 2022. While sales of racing bikes, gravel bikes, and emountain bikes remained fairly steady, unpowered mountain bikes dropped by 40%. In contrast, eCargo bikes doubled in sales. In total, 606,017 bicycles and eBikes were sold in Belgium last year – a 12% drop from 2022 but a 4% increase from 2021.
TOTAL BICYCLE SALES IN BELGIUM 2019 to 2023 2019 > 569,112 2020 > 592,107 2021 > 584,913 2022 > 695,871 Top: Swiss newcomer Opium caught the eye at Velofollies
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Middle: Gazelle’s Eclipse Speed HMB is a fully integrated high-speed eBike with SUV styling
Bottom: A special version of BH Bikes' Aerolight designed by Spanish artist Raisa Álava
2023 > 606,017
ZyroFisher - CIN Advert Dec23_FinalOL.indd 1
23/11/2023 11:11
10 12 14 16 SHOW REPORT - Vellofollies CIN01 2024_LAW.qxp 07/02/2024 14:18 Page 4
SHOW REPORT Velofollies
“From a consumers perspective – the market is still buzzing and cycling continues to be a hot topic”
VELOFOLLIES Originally, Velofollies began as a bicycle event featuring indoor activities, team presentations, and the like. Over the years, it has evolved into the largest bicycle trade show in the Benelux region. This year, 329 exhibitors and approximately 45,000 visitors travelled to the expo halls in the Flemish city of Kortrijk. The event is primarily designed for consumers. However, about 10 to 12% of the participants are from the trade sector. You can find more information here:–––––––– www.velofollies.be
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Despite the decline in sales figures, the market researchers also had some good news. According to a survey among 2,000 Belgians, 47% of the respondents are planning to buy a new bike in the near future. Gilbert Orbie, Chief Product Officer at Belgian distribution specialist Minerva, commented on the situation: “We still have high stock levels. That’s why I predict that 2024 will be another challenging season. However, there are some differences, depending on the category and the price level. The high-end segment, for example, is doing better than the entry-level.” Orbie believes that a strong spring season will be crucial for the recovery of the bicycle industry. “If we have a cold and rainy spring, this situation might persist until 2025. The good news is, as we see at this fair, that the interest in cycling is high.” Light at the End of the Tunnel? This perspective was echoed by most international experts. Marketing and sales specialist Bengt Friberg, representing the Italian shoe brand Crono, observed: “Generally speaking, we’re seeing some positive signs. The most popular items are out of stock – for example, the best-selling colour of the best-selling product. That’s
better than one year ago. The further development depends a lot on the upcoming spring weather.” Limar representative Giovanni Caporali said there was a light at the end of the tunnel: “Overall, 2023 was a step-up compared to 2019. We’re noticing that the big online retailers are placing larger orders compared to last year. That’s a promising sign,” he said emphasising that the industry “must remember – from a consumer’s perspective – the market is still buzzing, as cycling continues to be a hot topic.” Despite the generally upbeat vibe at the trade show, the Velofollies organisers also felt the industry’s current struggles. Notably missing was the Dutch Accell Group, a prominent exhibitor last year. However, trade show organiser Pieter Desmet also mentioned that some big names that had missed out in 2023 returned: “Bianchi, Specialized – they’re all back this year.” He observes that the current situation appears to be tougher for eBike brands than for high-end sports brands. “However, we’re seeing a shift in mindset: companies are starting to realise that it’s time to look forward and gear up for the future. Once the stock clears out, we’re bound to see an upturn. It’s only a matter of time.”
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18 19 20 22 BRAND REPORT - Eddy Merckx CIN01 2024_LAW.qxp 07/02/2024 14:19 Page 1
BRAND REPORT Eddy Merckx Bikes
RETURN OF A BELGIAN CLASSIC For a long time, there had been little news from the Belgian manufacturer Eddy Merckx Bikes. Last week, the brand announced a major relaunch. CIN was on the scene to report. Text & photos: Werner Müller-Schell / Belgian Cycling Factory
“THE BRAND’S LEGACY IS SUBSTANTIAL. THEREFORE, IT WAS CRUCIAL FOR US TO REVIVE IT. THAT’S WHY WE’RE HERE TODAY.”
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T
here are few names in cycling as renowned as Eddy Merckx. Between 1968 and 1974, the Belgian won the Tour de France and the Giro d’Italia five times each. To this day, he’s considered by most cycling experts as the greatest cyclist in the history of the sport. His legacy extends to the bicycle brand he founded in 1980: Eddy Merckx Bikes. “The brand’s legacy is substantial. Therefore, it was crucial for us to revive it. That’s why we’re here today,” shared Brand Manager Stefan Aerts during our visit to the Belgian town of Beringen. Here is the headquarters of the Eddy Merckx parent company, Belgian Cycling Factory, mostly known for its brand Ridley Bikes. Eddy Merckx Bikes has offi-
cially been part of BCF since 2017. From that moment, the bikes have been developed and manufactured in Beringen, just a short drive of about an hour east of Brussels. Eddy Merckx Bikes: A long-awaited comeback In recent years, though, there had been a noticeable silence around the brand. This was particularly surprising given the ambitious plans the team at Belgian Cycling Factory had when they took over in 2017. These plans seemed even more promising when Eddy Merckx Bikes became the official supplier of the AG2R La Mondiale pro team, making their way into the WorldTour.
18 19 20 22 BRAND REPORT - Eddy Merckx CIN01 2024_LAW.qxp 07/02/2024 14:19 Page 2
“Then the Covid-19 pandemic hit, and suddenly the world came to a halt,” recalls Aerts. “The situation significantly impacted supply chains, and the market was full of uncertainties. That’s why we decided to play it safe and focused on our Ridley brand during those years. However, this pause was a great opportunity to gear up for the relaunch of Eddy Merckx that we see today.” A new range of Eddy Merckx road bikes and gravel bikes Around 100 employees work at the Belgian Cycling Factory, simultaneously managing both Ridley Bikes and Eddy Merckx Bikes. The presentation of the relaunch is taking place in a large exhibition room on the ground floor within the Belgian Cycling Factory’s main building. There are two road bikes: the 525 and the Mendrisio. The 525 is the thoroughbred racehorse, while the Mendrisio is the all-rounder for long rides. The gravel bike is the Strasbourg. It is available in carbon, aluminium and steel. As is the Pévèle: “A bike that we call the Swiss pocket knife since it can be used both on the road and in the field,” Bert Kenens, product manager at Belgian Cycling Factory, explains. A feature that appeals to us across all models is the consistent design language visible across all models,
especially the brand’s signature S-bends in the seat stay for increased comfort. In honour of the relaunch, Eddy Merckx Bikes also presents a limited edition of its carbon bikes called Retrosonic. The collection is a tribute to the legendary Panasonic cycling team that rode Eddy Merckx bikes in the 1980s. Through a contemporary interpretation of the distinctive paintwork on carbon Merckx bikes, past and present come together. The bikes will be available from February 24, at the start of the cobblestone classics. Interesting fact: Eddy Merckx puts a strong focus on customisation, offering customers various options to individualise their bikes. Therefore, they offer an online configurator where customers can choose not just the colour, but also the groupset, wheels, type of handlebar, etc. The bike is then delivered to a bike shop of their choice. Eddy Merckx Relaunch: A bold more or sheer genius? While Aerts and Kenens give us a tour through the new Eddy Merckx portfolio, we can’t avoid addressing the elephant in the room: a complete brand relaunch during the currently economically difficult times in the bicycle industry – is it a bold move or sheer genius?
Stefan Aerts (Brand Manager) and Bert Kenens (Product Manager)
“WE CAN’T AVOID ADDRESSING THE ELEPHANT IN THE ROOM: A COMPLETE BRAND RELAUNCH DURING THE CURRENTLY ECONOMICALLY DIFFICULT TIMES IN THE BICYCLE INDUSTRY – IS IT A BOLD MOVE OR SHEER GENIUS?”
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18 19 20 22 BRAND REPORT - Eddy Merckx CIN01 2024_LAW.qxp 07/02/2024 14:19 Page 3
BRAND REPORT Eddy Merckx Bikes
The new Strasbourg gravel bike
“YES, IT’S A CHALLENGING TIME FOR THE INDUSTRY. BUT A RELAUNCH IS ALWAYS TOUGH. FOR US, THE TIME WAS RIGHT; WE’VE BEEN WORKING ON THIS FOR OVER THREE YEARS.”
Aerts replies: “Yes, it’s a challenging time for the industry. But a relaunch is always tough. For us, the time was right; we’ve been working on this for over three years,” he says, adding that the current situation mainly affects the entry-level and mid-range segments. “Less expensive flatbar bikes, mountain bikes, bicycles under 1,000 euros. High-end and performance sectors are also seeing a slight downturn, but they are holding up – as evidenced by our good figures from last fall.” Big plans for the future At the end of our interview at the Belgian Cycling Factory headquarters in Beringen, Aerts and Kenens emphasise that the new Eddy Merckx brand is “here to stay and to grow steadily under the wings of BCF”. They also reveal that there will be more product news in the coming months. Among these, three new bike models are planned, including drop-bar electric bikes.
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New and old: the Retrosonic special edition
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18 19 20 22 BRAND REPORT - Eddy Merckx CIN01 2024_LAW.qxp 07/02/2024 14:19 Page 4
BRAND REPORT Eddy Merckx Bikes
“THE BRAINS BEHIND THE FIRM DESCRIBE EDDY MERCKX BIKES AS A COMPANY THAT MAKES “BIKES FOR ADVENTURERS HUNGRY FOR MORE. JUST LIKE THE CANNIBAL.” Kenens: “I believe that if the market once again acknowledges Eddy Merckx Bikes as offering high-quality, value-for-money options across road, gravel, and all-road biking segments, then we can confidently say that we have done a good job.” About Eddy Merckx Bikes The brains behind the firm describe Eddy Merckx Bikes as a company that makes “bikes for adventurers hungry for more. Just like the Cannibal.” The company was originally founded in 1980 by Eddy Merckx and quickly gained attention in the cycling world. In 2014, the Belgian company Diepensteyn NV acquired the manufacturer until the brand was taken over in 2017 by the Belgian Cycling Factory, the parent company of Ridley Bikes. More information can be found on the Eddy Merckx website. www.eddymerckx.com
22 cyclingindustry.news
Behind the scenes in the Belgian Cycling Factory
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24 25 26 INTERVIEW - Adaptive DCS CIN01 2024_LAW.qxp 07/02/2024 14:20 Page 1
INTERVIEW ADAM GARNER + DALE VANDERPLANK | ADAPTIVE DCS
ADAPT, OVERCOME Two highly recognisable faces from the bike industry, Adam Garner and Dale Vanderplank, are back in the business. Under the Adaptive DCS banner the duo are providing a plethora of services to harmonise routes to market for brands.
24 cyclingindustry.news
W
e, the Brits, have always been an outlier. Not quite as advanced on urban cycling trends as the rest of Europe, but ahead on off-road riding culture, yet arguably trailing the USA in some respects, notably gravel, but even that’s different here. We’re an island, with our own complexities, laws, regulations, standards, customs and quirks. Sometimes we can be incredibly hard to understand for an outsider and truth be told, sometimes we can’t make our minds up internally too.
24 25 26 INTERVIEW - Adaptive DCS CIN01 2024_LAW.qxp 07/02/2024 14:20 Page 2
“ONCE A BRAND IS LANDED THE FUN CAN REALLY START. IT’S ONE THING TO BE ABLE TO SET UP THE INFRASTRUCTURE TO SELL, BUT QUITE ANOTHER TO MAKE SALES AND DRUM UP DEMAND IN A SPACE WHERE THERE’S NO SHORTAGE OF COMPETITION.”
Adaptive DCS offer OGA UK (Tern Bicycles) – warehousing, distribution and support
Our government’s faces and minds change like the wind and as a result our businesses sometimes can’t decide whether they’re staying, leaving, investing or divesting. Welcome to the UK; possibly one of the most puzzling territories in the world to do business with. Local knowledge, then, is quite important. Adaptive DCS is the new venture of exMoore Large directors Adam Garner and Dale Vanderplank. The duo are looking to play translator of the British market to the long line of brands either currently looking for a route in, or simply a better understanding of why we require such wide tyre clearance on our bikes compared to the drier climates. The business will offer distribution, consultancy, sourcing services, marketing and other services to its clients. Dale begins by saying that distribution is tough, but it’s not become “obsolete” in the market’s turbulence. He says: “Where a brand is on its journey can play a significant part in the decision about how best to approach the market and that for me is one of the reasons why the distribution landscape is going through such dramatic changes. Remaining agile as a business, by being both willing and able to adapt to the changing needs of the market, is going to be fundamental to long-term success.”
16,000 square feet of space located in the south of Derbyshire – that’s enough to comfortably host 50 containers’ worth of product – is a heck of a space, but indicative of the quick momentum the duo has been able to build with both clients they’ve worked with for years and new business alike. The difference is that none of the stock held is bought or owned by Adaptive DCS. Brands can opt simply to use the facility and invoice dealers directly or have the team handle the paperwork on their behalf. The menu of services is apparently open and adaptable, with Adaptive doing “as much or as little as a brand requires.” “The benefit in us not buying stock like a traditional distributor is focused on the point that there are too many margins in traditional distribution and we want to offer the brand more flexibility to be able to reward the dealer, reward the consumer, or do other things with the extra margin like investing in more marketing or events and improving customer service,” explains Adam. On site there’s an office that coordinates the effort, with a handful of staff on hand to manage the logistics and any mechanic work that needs doing. “The operation is typical of any warehouse, goods are organised on a variety of racking systems and shipped out the
same day via one of our carrier services. Unlike other 3PL sites, we know bikes, we know what makes them work and this allows for really speedy customer service requirements for our clients,” says Adam of the setup. Needless to say, part of the duo’s brief is to make sense of the now unique trading rules with the UK for international brands. They’ve been there and done it many times before, getting goods through customs first go. In a world that demands fast door-to-door service understanding the nuances of accessing Britain’s market can make all the difference. “There are obvious challenges around cross-border trading with the changes brought about by Brexit. For brands with limited experience of that, passing goods through customs can be a minefield, especially with small, more frequent orders going to multiple delivery addresses. We live in a world where choices around who we buy from and what we buy are endless, so any complications, delays, or additional cost around either the order process or simply receiving goods can be a barrier to successful trading,” explains Dale. Once a brand is landed the fun can really start. It’s one thing to be able to set up the infrastructure to sell, but quite another to make sales and drum up demand in a
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24 25 26 INTERVIEW - Adaptive DCS CIN01 2024_LAW.qxp 07/02/2024 14:20 Page 3
INTERVIEW ADAM GARNER + DALE VANDERPLANK | ADAPTIVE DCS
Adaptive’s growing clients roster includes 3T and – as this magazine goes to press – Italian shoe brand UDOG
“WHAT WE DO IS SUPPORT IDEAS IN TERMS OF ACCESS TO MEDIA CONTACTS, GETTING REVIEWS PUBLISHED AND PR DONE. ALL THAT WE CREATE IS LOCAL MARKET-SPECIFIC CONTENT, WE WORK CLOSELY TOO WITH LOCAL ATHLETES AND CREATORS.”
WHAT IS THE BENEFIT OF ADAPTIVE DCS? WHAT THE BUSINESS DOES: • Provides UK retailers with some of the best brands. • Mixes up standard distribution, providing more profit/margin for the brand. • Allows brands to build and tailor a package that works best for them. space where there’s no shortage of competition. Here the duo is offering up what they say is a ‘light touch’ marketing service that can steer a global brand’s campaigns in the right direction. “What we do is support ideas in terms of access to media contacts, getting reviews published and PR done. All that we create is local market-specific content, we work closely too with local athletes and creators.” As the pair did at Rouleur Live with the 3T brand, they’ll also be the local face of a brand, representing labels on their behalf at shows, events, races, and demos, thus saving the brand cost. For 3T, Adaptive DCS will handle all sales activity taking an inherited list of local stores and developing that business over time. In this instance, the duo know they have on their hands a brand that’s got a strong following and thus isn’t a hard sell. That said, brand credentials are one thing, placing a product in stores that have become increasingly selective over shop floor priority is harder. Knowing well the recipe for success in getting bikes into stores from a standing start, Dale says. “Gone are the days when a brand can place unrealistic demands on its customers and expect them to roll over and accept it. There is way too much choice available now and in part, that's come about because people are prepared to shop about, to find brands that want to work with them. There are also so many other factors that come
26 cyclingindustry.news
into play, not least having great products and a first-class backup service, but also support with marketing, to help drive customers to their stores. Getting product to the account in a timely way to secure a sale too.” Of course, the market is more unsettled at present than at any time in most of our memories. Brands are finding themselves without sales channels and local partners at a moment’s notice and at no fault of their own. “We would like to sympathise with all those affected by the most recent of market changes; having gone through similar difficulties we know it isn’t easy,” explains Adam. The pair have weathered their own storms and with that comes a resilience and understanding of the market’s turbulent evolution as it happens. There has likely never been a trickier time to make a market entry. “Again, it comes back to knowing the market, knowing what works, and knowing what doesn’t,” concludes Adam, adding: “There’s been so much change in a short period of time and one thing is clear, distribution needs a new approach, that’s what we have done and we provide access to the UK market in different ways and at varied levels of input.” CONTACTS... e adam.garner@adaptivedcs.com t 07971 991630 e dale.vanderplank@adaptivedcs.com t 07971 991632
• Offers a one-stop solution for the retailers’ needs: sales, marketing, aftercare. • Connects brands with their customers, offering specific market intelligence. THE SERVICES OFFERED: • Import/Export Clearance • Marketing and Events • Customer Aftercare • Returns and Warranty • Distribution and Fulfilment • Agent-based Sales • Warehousing and Logistics • Mechanics, PDI and Servicing THE CLIENTS (at the time of writing): • Greyville – Consultancy • OGA UK (Tern Bicycles) – Warehousing, distribution and support • EMU Bikes – Warehousing and distribution, plus PDI of all bikes before sending to dealer or consumer. • Hatat Rentals – Import, export and logistical requirements for the cargo and bike share markets • 3T Bikes – Sales representation, marketing, events and bike demo events. • Outdoor Revolution – Consultancy
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30-32 Stock Market Data CIN01 2024_LAW.qxp 07/02/2024 14:42 Page 1
MARKET ANALYSIS How did the bike stock market hold up in 2023?
G
ot any spare cash to invest at the start of 2024? Perhaps that was a silly question. It’s been bearish sentiment central in the bike market during 2023, which it can be fairly said was, for most, one of the worst years on record. We all know why, there’s no need to play the Covid ‘bike spike’ record again, after all, the hangover hasn’t yet shaken. The stock market, however, is not necessarily correlated to the real world. After all, at the time of writing, most of the national indexes are near or above record highs. So, were champagne corks also flying when it came to bicycle industry stocks, or with interest rates sat at what many believe may be a peak, has all of the cash and appetite to invest gone with it? Here’s some of the more interesting charts from around the domestic and international bike business, along with a few words on overriding trends and indicators. One more thing, just
30 cyclingindustry.news
“IT’S BEEN BEARISH SENTIMENT CENTRAL IN THE BIKE MARKET DURING 2023, WHICH IT CAN BE FAIRLY SAID WAS, FOR MOST, ONE OF THE WORST YEARS ON RECORD.”
incase it needs to be said, please don’t take anything on these pages as investment advice; if we knew what a stock was going to do next, well… we’d not be writing about bikes. DOMESTIC: HOW DID THE UK’S LISTED BICYCLE FIRM’S HOLD UP? HALFORDS On the one hand, Halfords is a cycling business, but on the other it’s a motoring business and of late, the CEO’s vision has pivoted more toward the latter, which has notably higher margins and causes far less turbulence for the business than the cycling market. Year-on-year, motoring trade was up 8.2% like-for-like, while cycling fell 2.8%. Not so bad to remain flat in a tough market, you’d think and given the rest of the market was faltering it seems as though Halfords took market share, about 1.8% of it, in H1 FY24 vs H1 FY23.
30-32 Stock Market Data CIN01 2024_LAW.qxp 07/02/2024 14:42 Page 2
TAKING STOCK… What did the stock market tell us about listed bicycle businesses in 2023? Cycling Industry News has a crack at the role of analyst, spotting trends domestically and overseas.
range of between £1.80 and £2.20 a share. It’s up off its lows of £1.25 seen in the late summer of 2022, but since that time it’s probably only interested swing traders and those interested in the dividend, which just paid out 3 pence per share in January 2024 (one of two paid annually). The firm’s next trading statement will land on January 25th, 2024, covering Q3 of 2023.
There was talk that Halfords was among those in the ring as a potential suitor to buy Wiggle, yet in light of the aforementioned investment and string of acquisitions in the motoring and motor servicing space, it seems unlikely to hold much water. After all, the business has Tredz and, you’d think, therefore a decent chunk of the customer data on its books already. At the time of writing we can’t rule it out, mind. Should that come to fruition you might expect a rise in the share price, but will shareholders instead prefer high-margin acquisitions, instead of margin-slim, online bike retail money? “Discretionary markets such as Cycling, challenging and below expectations due to well-documented consumer environment,” so says the latest comment on the cycling market from Halfords’ trading statement. So, what does that mean for the share price? Well, it pretty much traded sideways through all of 2023, generally in a
THE TANDEM GROUP Back to where it all began. The Tandem Group is trading at around £1.40 per share having hit a low of around £1.15 at the very end of last year and that, more or less exactly mirrors where the share price was in the spring of 2020. Something happened thereafter, didn’t it? Just a year later those buying the top of the uptrend were paying upwards of £7 per share. So, look at the zoomed-out chart and it looks like the classic rollercoaster. Safe to say, then, that investors have felt more bullish than they do now, though in truth The Tandem Group’s chart is not unique in the bike business and many did suddenly take off in March of 2020 when ordering euphoria was still high. Investors arguably had worked out that this burst could not sustain by the Winter of 2021 and from there on in the market cap went into freefall from its all-time high. Of course, the business is not solely in the bike business, also serving markets like home gardening and licensed toys. In its new much-larger and state-of-theart warehousing The Tandem Group of today is a more efficient and cost-effective beast than it was pre-Covid. It is steadily tilting its trade beyond its traditional realms too, advancing its e-mobility portfolio with each passing year, giving it a highly relevant and marginimproved product to sit alongside the
bread and butter everyday leisure products that Claud Butler made famous all those years ago. It is too the parent company to Squish, a popular kids’ bike brand. That market, in the face of competition from subscription models, has stuttered a little, but nonetheless, quality kids bikes remain useful to stock for many businesses year-round. Tandem Group shares pay 6.57 pence per share twice per year, excluding special payments. OVERSEAS: KEY MOVERS AND SHAKERS SHIMANO (Tokyo) Probably where the eyes of the majority of the industry would fall if making the assumption that one business is somewhat representative of a market’s overall fortunes. Since Covid most financial reporting has referenced 2019 as the last ‘normal’ point of trading and in that respect, Shimano’s share price is likely indicative of the market at large; that is we are ahead of 2019’s figures, generally speaking, but quite some margin off the peak in late 2021. Since the summer of 2022, Shimano’s share price has pretty much traded in a range between 20,000 and 24,000 Yen. Though demand moving up the chain toward the manufacturer will undoubtedly have slowed, there’s no moving the bike business’s largest brand. Even a December 2023 story about the brand’s suppliers allegedly utilising modern slaves only temporarily rocked the stock price. Needless to say, Shimano remains the bedrock of the industry’s supply chain and with that moat around its business has proved a lot more stable than most in a challenging environment. The Tokyo traded business has a 27.40 P/E Ratio, a more than 2 trillion Yen market cap and a 1.26% dividend yield.
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30-32 Stock Market Data CIN01 2024_LAW.qxp 07/02/2024 14:42 Page 3
MARKET ANALYSIS How did the bike stock market hold up in 2023?
Hgears (Frankfurt) One of a number of businesses to IPO in the mix of the bike market’s boom, Hgears is a business that we’ve covered aplenty here on Cycling Industry News over the years and for good reason. While not a front-of-house brand name, it does supply component parts to a sizeable chunk of the electric bike motors sold in Europe. That somewhat makes it a bellwether of supply and demand in our key market. Unfortunate, then, that the IPO was timed almost exactly as investors were becoming spooked by the tail end of the bike boom’s demand spike. However (and this is a big however) the share price has sprung into life of late, bouncing off a low of €2.13 in November to nearly double at €4.01 on January 6th. Zoom out and like so many bike industry stock charts you’ll do a double take; the shares traded for above €22 in March of 2022, so it’s going to take a real turn in fortunes for this one to get going again, but nonetheless, at this stage we’ll gladly take glimmers of hope in a down market. If this is indeed the start of confidence returning, the investors that bought that low and quickly doubled their value are speculating on a turnaround of the eBike and e-mobilty space in particular. Hgears has been very deliberate about informing its investors that it is here that it foresees the greatest growth in the future and as such the production line investments have been here, as opposed to other bits
32 cyclingindustry.news
of what is a diversified business. For background, Hgears operates in tooling, e-mobility and other spaces requiring precision machined parts. BikeExchange (ASX: Australia) As with hGears, BikeExchange went to IPO in the peak of Covid’s bike euphoria and peaks, well, they’re peaks, so it’s been all downhill since, losing almost all of its value since, though things look worse than they are thanks to a 1-for100 share consolidation recently. Is
“WHILE NOT A FRONT-OF-HOUSE BRAND NAME, HGEARS DOES SUPPLY COMPONENT PARTS TO A SIZEABLE CHUNK OF THE ELECTRIC BIKE MOTORS SOLD IN EUROPE. THAT SOMEWHAT MAKES IT A BELLWEATHER OF SUPPLY AND DEMAND IN OUR KEY MARKET.”
there life in the old dog, yet, though? We chose BikeExchange because this is again a firm, under new leadership, that is in the business of turnarounds. Very much in now-or-never territory, what is best known as a second-hand marketplace business is now wooing bike brands and retail giants directly. It is now working with the likes of Decathlon, for example, to act as a further omni-channel shop window. Ring any bells? AutoTrader just started doing the same for brands and retailers here in the UK. It’s not quite worth comparing the two, Autotrader’s monthly audience dwarves BikeExchange’s nearly 30 million annual visits, but then again most visitors are there for cars and the eBike segment remains in development and only here in the UK. BikeExchange operates alongside over 1,450 retailers and 1,500+ brands, apparently generating $1.5 billion in global sales leads for partners in eight countries. These are the USA, Canada, Germany, Netherlands, Belgium, Australia, New Zealand and Colombia. At the time of writing, trading at just $0.61 AUD and with a $7 million AUD market cap, if the new CEO can continue to revamp the business perhaps BikeExchange can make friends helping clear the masses of overstock with its purchase-ready audience. Proprietary AI tools have just been deployed in the firm’s largest market, Germany, with the aim of driving better conversion rates.
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34 35 36 38 OPINION - Cristobal Perez - Tools to Survive CIN01 2024_LAW.qxp 07/02/2024 14:22 Page 1
OPINION THE FUTURE OF THE INDUSTRY | PART THREE
TOOLS TO SURVIVE
(AND THRIVE)
In part 3 of this 7 part feature series, Cristóbal Pérez – a seasoned cycling industry professional with a track record of leading change – explores what the future could bring to our industry; the good, the bad, and the ugly. In each of these there is opportunity – if you can embrace the change required to unlock it. “Think Big” This is a quite common quote that perfectly states how some things should be dealt with in your business. It does not mean that you have to run a big business or a big budget. No, please, no. It is about mimicking what some big companies do that is perfectly and indispensable for your company (small or medium) to extend its lifespan and profits. Your business needs to take a step up and ahead to cope with its intrinsic evolution if this is your goal. Variables such as location, size, and available money have nothing to do with the possibilities of consolidation of your company, and, why not, growth. It is also possible for you. And you can translate this evolution into money.
34 cyclingindustry.news
These axles are principal to take into consideration to make sure that you are doing what it takes: Management Service Clients’ management Communications Management There is software out there that surely will help you to run your business properly. You can say ERP (Enterprise Resource Planning), but this could also be understood as too much. Truth be told, there are options suitable to you with different features that will adapt to what your business needs. Pay attention to this and not to the name of the tool.
Dedicated software to run your business should allow you to control your inventory. I have witnessed how a €3M shop had no clue of how many bikes they had in stock, or their inventory composition. You can imagine how the next season’s preorders were. Having a clear picture of what you have in your store is something that needs no explanation about how important it is. But by using the right tool, orders will be automatically deducted from your stock. so that it could become healthier. Those trading movements generate an invoicing activity. This could be automatised so that you can provide an invoice or credit note on the go. It would also mean easier fiscal duties.
34 35 36 38 OPINION - Cristobal Perez - Tools to Survive CIN01 2024_LAW.qxp 07/02/2024 14:22 Page 2
In the case of your website, it will be always updated with accurate stock available or delivery expectations so that you can make your client make the right decision and buy from you now or later. Orders will also happen in an automated manner: discounting them from your stock, generating an order for shipping purposes or even creating an additional replacement order to your provider so that you never run out of what you sell. Additionally, you will also have a financial snapshot to arrange loans or whatever on time and accordingly to your cash flow.
Service Service is what distinguishes those companies that will survive from those that will not. So, you must control your workshop operations using dedicated software, and understand it as a helping tool. It is commonly included in an ERP so that you can include all that this generates as helpful inputs to sharpen your business performance. This should help you to keep a healthy and slim stock in your workshop. A lack of parts in that area has a deeper impact because it usually means an angry client with his/her bike consuming space in your shop. You would be diminishing their trust and your income. Creating a budget in the face of the client, and asking them an exact amount for your detailed services, is only the gate to a world of benefits for all those involved. You can track the status of the repair, and send automated messages for your user’s information about changes, budget variations, approvals requests, or bike delivery. This will reinforce your
Thinking big does not mean that you have to run a big business or a big budget. It is about mimicking what some big companies do to extend your company’s lifespan and profits, argues Pérez
“SERVICE IS WHAT DISTINGUISHES THOSE COMPANIES THAT WILL SURVIVE FROM THOSE THAT WILL NOT. SO, YOU MUST CONTROL YOUR WORKSHOP OPERATIONS USING DEDICATED SOFTWARE, AND UNDERSTAND IT AS A HELPING TOOL. ”
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34 35 36 38 OPINION - Cristobal Perez - Tools to Survive CIN01 2024_LAW.qxp 07/02/2024 14:23 Page 3
OPINION THE FUTURE OF THE INDUSTRY | PART THREE
A good CRM would help to keep track of customers and their habits: Service history, when they first came to your shop, their owned bike, etc
“KNOWING ALL ABOUT YOUR CUSTOMERS IS THE BEST WAY TO CREATE BUSINESS AND LOYALTY. YOU SHOULD AIM FOR THE UNIQUE DATA.”
36 cyclingindustry.news
professionalism, perception and avoid misunderstandings. There is something in that regard that I consider a cheap, easy, and fantastic initiative: keeping a record of your client’s bike mileage, future maintenance scheduling, preferred or recurrent mechanic, reminders to bring back clients to check or renew any part, promoting service offers, bundles, season start promos, etc. You will be at the top of their minds. According to your records, you will know the right time to suggest checking the brake pads, chain replacement, and precycling season checking. And everything will happen automatically. Clients’ management Knowing all about your customers is the best way to create business and loyalty. You should aim for the unique data. Just by typing any information related to your client such as name, phone, mail, or whatever, a complete file should be available. A good CRM (Customer Relationship Management), would help you to keep
track of all around each customer: when was the first time he/she came to your shop, purchase and/or service history, owned bike(s), his/her birthday if he/she has a partner, kids, preferences, etc.
For non-existing clients, no matter how the lead came, social media, mail, phone call, etc. you will have a reservoir of people to reach, invite, inform, call, mail, text, WhatsApp, or whatever means that put your client-to-be on your radar. It is always a source of business. With this in mind, you can pipeline your sales, and related marketing activities and optimise your resources.
xx ADVERT CIN Subscribe CIN06 2023_v2.qxp 30/10/2023 12:16 Page 1
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34 35 36 38 OPINION - Cristobal Perez - Tools to Survive CIN01 2024_LAW.qxp 07/02/2024 14:23 Page 4
OPINION THE FUTURE OF THE INDUSTRY | PART THREE
Quality interaction your customer’s preferred channel (not yours) will help you to build up your community
“ALL THAT YOU HAVE READ SO FAR MIGHT LOOK LIKE A HUGE LEAP CONFRONTING WHAT YOU DO TODAY. BUT NOT. IF YOU SEEK, YOU WILL FIND THE RIGHT TOOLS TO OPERATE YOUR BUSINESS MORE EFFICIENTLY.”
38 cyclingindustry.news
Communications This is extremely important. A reciprocal communications strategy and the right tools to make it happen would allow you to know about your clients and vice versa. If you do not know what is in their minds, needs, fears, or concerns are, it is not likely that you can hit a nerve to grab their attention. Social media is the perfect field for this. You can tell what happens in your shop, your brand’s latest news, or promote whatever you want with the idea of reinforcing your brand awareness or bringing clients to your shop, digital or physical. Do not underestimate social media. 50% of contacts between users and brands for any reason come through Facebook, Instagram, TikTok, or whatever sort of your choice. So, do not expect only to be reachable by mail or phone. Do not forget to add WhatsApp to the list. No, your relative, friend or whoever with a powerful smartphone will not do the trick. Be professional, hire professionals. This quality interaction through their (not your) preferred channel will help you to build up your community, trust, and reputation to keep the flame burning. Or for when sales decline and you need them.
All that you have read so far might look like a huge leap confronting what you do today. But not. If you seek, you will find the right tools to operate your business more efficiently. Neither does it mean big money. If you barely optimise your company by those standards, you will save more than what the investment means, not to mention many other associated benefits. Maybe one of your brands has a perfect approach for this. Say Trek. Otherwise, there is an enormous market for global or dedicated managing tools. One thing is true: you have opportunities to run your business successfully and face your situation and direct competitors. Big guys should not be in your scope, but you can learn from them, mould and tweak what they do to your reality. But if you don’t adapt, you’re not doing things to fit with how a company is handled nowadays, you will not succeed. No matter your size. Adapt or die. Cristóbal Pérez is a seasoned professional able to lead change in the cycling industry. Find him on LinkedIn... www.linkedin.com/in/c41
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40 41 42 43 RETROSPECTIVE - David Wilsher CIN01 2024_LAW.qxp 07/02/2024 15:15 Page 1
RETROSPECTIVE
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David Wilsher
UK YEARS IN THE CYCLE TRADE
David Wilsher has spent half a century in the cycling industry seeing the market go through some pivotal and sometimes painful changes. Wilsher has also played a role at the epicentre of some of the bike trade’s more significant milestones. Here, the Mission Cycles owner – now retired – provides his take on the development of the industry in his living memory, typically pulling no punches as he does…
A
fter nearly 50 years in the cycle industry, I am more than ready to live the rest of my days without the stress of cycle business ownership. Jason, my top man, is taking on Mission Cycles from here. I entered the cycle industry in 1975 from supermarket management at the age of 34. Supermarket trading was becoming increasingly Americanised, and I no longer enjoyed the work, it was time for a change. My brother who was the Michelin representative prompted me to answer an advert in The Telegraph for a position with Trusty Viscount. After two interviews I made my first call at Evernden’s shop in Kent. Four bikes on the pad and at the end of the day fourteen bikes sold. The competition was Dawes Peugeot Viking Puch and of course the great Raleigh days. My nephew Graham was with Puch and Viking and my brother Gordon joined Viking. Trusty became Viscount, manufacturing their own bikes in place of the very heavy bikes from Taiwan in those days. Selling the excellent Koga Miyata range alongside was a dream. Times were good for a few years until the late ‘80s. Puch pulled out of the UK, Peugeot were selling at cost price, all the companies were struggling – Elswick, Coventry Eagle, Dawes. There was no internet to speak of, or mobile phones, sat navs, laptops as we have now, it was a tough job. The best order I took was from a great dealer, the late Roy Riley of Berkshire Cycles. He ordered 100 units of a special bike Viscount were going to produce for the following year, 50 Gent 50 Ladies. I took the order the day before Christmas Eve and it made my Christmas.
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Having been trained back in the day by the best supermarket company, finances, stock turnover, computer spreadsheets, staff relations and setting up new branch openings, the shock of the cycle industry was huge, a real cottage industry. Tired shops often run by three generations, nearly always male. Retired racing cyclists and those who loved bikes, opening shops, with no business, nevermind retail, experience. Calling on shops over many counties from Cornwall to Scotland, the industry was full of characters. It was friendly but many shops were hanging by a thread. In those days CCJs were published in Cycle Trader. Viscount went bust and I switched to Ammaco Mongoose. BMX was the bike the kids wanted and Ammaco had the winner. Raleigh was not happy, but they came in too late with the Burner. Taking Christmas orders of 50 bikes at a call was a salesman’s delight. Holding a single cycle show at Harrogate with all of the industry’s companies in attendance was great. Ammaco had an offer to place an order: 50 BMX units and receive a gallon bottle of Bells Whiskey. I was awarded a bottle for a day’s sales which I duly put down on the pavement as I loaded the car, the bottom cracked and the gutter filled up with whiskey, which other company reps found highly amusing. I was awarded a second bottle which I still have to this day, half empty. Cycle Trader was the industry’s monthly magazine and I was approached to write
a monthly article. For some years I had the delight of telling stories of my experiences and perceptions of the industry. They naturally upset some of the readers, those who displayed expensive bikes hanging off scaffolding, those wearing the old brown overall akin to ‘Open all hours’. Condensation streaming down the windows from the paraffin heaters used in those days. The dealer standing behind the defensive counter often wiping his greasy hands on a dirty rag as a customer approached, everything personal service based. The suppliers were so behind the retail revolution, few supplying cabinets or even pre-packaging saddles, pedals, gloves etc. Only the recognised named shops of the day were selling cycle clothing or shoes in any volume. I eventually lost my monthly article job. Raleigh always had the front page and I think complained to the editor of my slagging them off – fair game I thought! BMX died a death almost overnight and Ammaco closed their doors, but I had been self-employed, with enough knowledge to go it on my own, becoming what was known as a ‘Grey Importer’. I became one of several ‘van boys’ calling throughout the UK, selling direct. Trips to Milan, France, Belgium and Holland for numerous years, working alongside a colleague for several years, we brought in lycra clothing which was then replacing the old wool tights and jerseys. I found an agent at the Koln show who has remained a business associate and friend for over 40 years.
Wilsher cites the launch of Cytech as one of the ACT's finest achievements
“THE SUPPLIERS WERE SO BEHIND THE RETAIL REVOLUTION, WITH SOME SUPPLYING CABINETS OR EVEN PRE-PACKAGING SADDLES, PEDALS, GLOVES, ETC.”
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40 41 42 43 RETROSPECTIVE - David Wilsher CIN01 2024_LAW.qxp 07/02/2024 15:36 Page 3
RETROSPECTIVE David Wilsher
“THE RETAILER HAD BEEN IN BUSINESS FOR MANY YEARS WITH A VERY CREDIBLE REPUTATION, BUT WHEN THE BARRISTER ENQUIRED AS TO HIS TECHNICAL ‘QUALIFICATIONS’ AND IT BECAME OBVIOUS THAT HE HAD NONE, HIS EXPOSURE TO PROSECUTION BECAME CLEAR AND A NEW BRIEF FOR THE ACT WAS BORN.”
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I would call on the London shops clearing a van-load in a couple of days. The UK distributors were not supplying sufficient product including Shimano, which we were able to supply via the continent in bulk. I approached Madison for an account with them as I knew another van boy was being supplied, and although I was not successful, my relationship with the Madison team did develop later in my career. Then buying direct from Taiwan, visiting the Taipei show purchasing parts, the craze of trials bikes and BMX revived again, even unicycles and scooters added to the range. At a show I noticed a few tricycles on a stand and samples were ordered. A young IT-savvy lad Paul, now a cycle shop owner, worked for me. He investigated the disability market and identified a gap so we started to advertise within the disability sector and the passion that is Mission Cycles took over my life. I became involved with the ACT first as a member having purchased a cycle shop from an account I called upon. I appointed my younger son Tony to operate the shop circa 30 years ago. He had some training with a couple of good dealers, he had raced BMX with his older brother Dean who was a partner in Mission Cycles. His business and market knowledge quickly increased and supported by an excellent mechanic, he now has a very successful business in Larkfield Cycles. The ACT was based in Tunbridge Wells just down the road from my home and I soon became more than just a member. There was a court case where a bicycle failure had resulted in the injury of a child and John Hoskins, a director of the ACT, an experienced wheel-builder and race marshal, with many years of cycle shop ownership under his belt, was asked to represent the retailer who supplied the bike, in court. The retailer had been in business for many years with a very credible reputation, but when the barrister enquired as to his technical ‘qualifications’ and it became obvious that he had none, his exposure to prosecution became clear and a new brief for the ACT was born. Anne Killick, the ACT secretary and driving force behind the association, decided that the industry required an accreditation programme for cycle mechanics and there was a critical role for ACT to play. I became an ACT committee member and alongside Anne we progressed developments with Peter Harrison (Shimano Man) of Madison. There were meetings with Aylesbury College and Stockport College Technical Facility, which I attended to improve my
skills using their level 1 & 2 mechanic courses. Many hours were spent with Anne collating the health and safety content and Derek Weedon, Alan Finch and Pete Cowling all actively contributed to the launch of Cytech, initially as an accreditation programme and subsequently as the leading – now international – technical skills training scheme. Proud times indeed for the ACT and myself. I was passionate about developing the independent retail sector, seeing my own shop flourish under Tony’s control and so much opportunity in a market where independents still dominated in the UK. I took on a more active role within the ACT alongside Anne, extending ACT’s engagement with the supplier base – after all I had become primarily a supplier. We held multiple meetings with the likes of Dawes, Madison, Raleigh, Trek and the consumer-facing cycling organisations to discuss coordinated initiatives to develop the market and the IBD sector in particular. I wanted to work alongside the B.A. (Bicycle Association of Great Britain – as it was then); an extension of the skills programme was our priority, into sales, business and financial management following the successful launch of Cytech. I had several meetings with the B.A. on behalf of the ACT, the days when it was somewhat old-school, a slap-up meal at Starley House, Coventry with nothing really material concluded. Even though I was by then in my late 50s I felt that I was treated as a young upstart by those who believed they were the industry’s stalwarts. I felt that it was a missed opportunity that a creative relationship wasn’t developed between the associations and a slight upon the IBD if I’m honest. The late Terry Bowles and the Madison team were a notable exception, providing sponsorship for ACT membership and actively participating in the training development programme, but like so many industry initiatives, we were unable to achieve our goals without wider industry support. Too often competition within the industry has thwarted the potential. This remains the thinking and limitation of small business. The B.A. returned to the table after the success of the Millennium fund where ACT successfully worked with Patrick Barker of Madison as B.A. President. In order to launch a new industry fund the B.A. wanted the IBD’s help and money, so we worked with the B.A. to create the ‘Bike Hub’ fund. However, the process and strategy were never met by the delivery, inevitably wasting another great opportunity for the industry.
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Buying direct from Taiwan, visiting the Taipei show purchasing parts, added to the range David was able to offer.
Speaking of wasted opportunities, during this period the Government bestowed the Cycle to Work scheme upon the industry, a salary sacrifice tax incentive to get employees on bikes. It is an indictment of the trade that this opportunity has never been optimised and that the IBD was left to fund the scheme with millions of pounds given away to middlemen outside of the trade. The industry still lacks effective, linkedup PR – hardly my area of expertise, but after so many years in the trade we know that the delivery of cycling infrastructure is a very long-term dream. We live in a country of car lovers – including most industry reps, execs and many dealers – so more of the limited industry funds need to be targeted at shor-term wins to build for the longer term. Wellbeing is getting out on the bike even for the odd hour in a week, dressed for the UK weather conditions. As we progressed into the new millennia, Anne Killick was beginning to consider retirement from the ACT. It was time for change and I was lucky enough to find youth, enthusiasm, a passion for cycling and a moderniser in Mark Brown, who helped to revamp the ACT in so many ways. We developed the ACT into a more progressive, commercially-focused support entity, with unrecognisable levels of digital processes from the previous association. Without the funding benefits the B.A. received from the sale of Starley House and Bike Hub funds, the ACT had to be more creative to make the financials
work, especially whilst developing a skills programme like Cytech. When Mark moved on to seek other industry opportunities, Jonathan Harrison took on the role of growing the ACT. He took Cytech international, and I understand that Cytech will be delivered on-site in seven countries this year with plans to expand fast from hereon in. The ACT even led the development of the Independent Retailers Confederation into a group of 19 trade bodies representing over 100,000 independents including bira, who are now supporting the ACT’s long-term development. When I left the ACT at the healthy age of 79 in summer 2020 the association had over 3,700 subscribing businesses – an increase of nearly 600% since 2000. I believe we made progress. The future? I have no idea. Profit margins are the biggest challenge for so much of independent retail now, suppliers too. We have seen big business closures with doubtless more to come as the Wiggle dust settles, Raleigh relenting P&A, Trek relinquishing a UK distribution centre and more. The industry is going through its own cycle, a natural progression of expansion and retraction, made more savage this time by the highs of the pandemic. Me… I will be on a world cruise. Paid for by my wonderful wife who worked for the local council all her life. What a pension! Whilst mine was soaked into the cycle business!
“THE INDUSTRY IS GOING THROUGH ITS OWN CYCLE, A NATURAL PROGRESSION OF EXPANSION AND RETRACTION, MADE MORE SAVAGE THIS TIME BY THE HIGHS OF THE PANDEMIC.”
www.missioncycles.co.uk
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44 45 46 48 INTERVIEW - Kate Verroneau By Danielle Reiff-Jongerius CIN01 2024_LAW.qxp 07/02/2024 14:36 Page 1
INTERVIEW KATE VERONNEAU | ZWIFT
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44 45 46 48 INTERVIEW - Kate Verroneau By Danielle Reiff-Jongerius CIN01 2024_LAW.qxp 07/02/2024 14:36 Page 2
“WE NEED MORE VOICES TO FORM A CHORUS. MEN DON’T KNOW WHAT THEY DON’T KNOW.” Kate Veronneau, Director of Women’s Strategy at Zwift, joined the company to create a new pathway to professional cycling, specifically for women. Speaking with Danielle Reiff-Jongerius in the latest of her articles for CIN, Veronneau explains how cycling has lagged behind other sports like tennis and football and how the Tour de France Femmes avec Zwift is helping make women racing bikes a normal part of the landscape for younger generations…
F
or this series of articles I am continually seeking exchange and conversation with women working in the cycling industry. While brainstorming in the office, my male colleagues instantly said I should absolutely talk with Kate Veronneau at Zwift. Learning Kate’s job title, it was clear – her work deserves attention. Kate has forged an unmatched career in sports that spans from the real world to the metaverse and back. A college basketball player, Ivy League Rookie of the Year and captain at Brown University, Kate transitioned to cycling after college. A hobby soon turned competitive, and Kate found herself pursuing a career as a professional cyclist. Facing limited opportunities and investment in women’s pro cycling, Kate returned to the workforce. Can you tell me about your role, Director of Women’s Strategy at Zwift, how did you come into this? I originally came to Zwift to run the Zwift Academy programme, and the whole idea behind that was to create a new pathway to the pros, specifically for a woman cyclist. That was the original objective. I’ve written several of my own job descriptions over the years. I tend to go out to people and say: this is the value I think I can provide. The whole industry has been so male-dominated over the years that it’s like, they don’t know what they don’t know. I see in my day-to-day conversations and work, that there is an opportunity to connect with women in new and different ways. The industry has not always appreciated that.
What are your tasks and responsibilities? In cycling, especially when we talk about the competitive sports angle of it, everything is basically constructed through a male lens. It’s my job to change that. One thing we’ve really recognised as more women have been getting on bikes, is that there’s different barriers, challenges, preferences, behaviours, trends and needs for women cyclists. And as soon as we started to delve into that, we recognised that we could do better. So it’s my responsibility to keep asking, and show what else we can do. Zwift Academy really helped us build our women’s community. Zwift is its own metaverse, we can really interact with our consumers in a different way than the rest of the industry can.
“I LOVED TO DISCOVER THAT WOMEN TOOK ADVANTAGE OF THE SOCIAL SIDE OF OUR PLATFORM WAY MORE THAN MEN. THEY TOOK THE OPPORTUNITY TO CONNECT, WHETHER IT BE JUST WORKING IT OUT TOGETHER OR SUPPORTING EACH OTHER.”
What is Zwift’s objective with this position? Closing the gap is the simple answer. See, from Zwift Academy we recognised early on the opportunity to create new programming, new pathways in that programme. The Academy got the entire community really close to what was happening in the world tour and at the highest level of the sport. But more importantly, it really shone a light on the challenges that women cyclists were facing to be professionals. What was your number one learning from the wealth of data you have at your disposal? I loved to discover that women took advantage of the social side of our platform way more than men. They took the opportunity to connect, whether it be just working it out together or supporting each other. Asking and answering questions on a Facebook Group. There’s so many touchpoints with our consumers that we get to get a real inside look at the women individually and this women’s cycling scene and what’s going on and where. So, this data analysis is translated into a full-time job with finding partners, building community on the platform, building content on the platform that is specialised for women. We also take out some of the noticed challenges, like safety. It’s super safe on Zwift, it’s efficient training and there’s always women to ride with. Unfortunately, those things don’t always come together in the real world.
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44 45 46 48 INTERVIEW - Kate Verroneau By Danielle Reiff-Jongerius CIN01 2024_LAW.qxp 07/02/2024 14:36 Page 3
INTERVIEW KATE VERONNEAU | ZWIFT
What is your personal mission? Bringing more people, but firstly women, to experience the profound joy and fitness that a bike can bring. The friends, fitness, adventures that come with a bike, being able to chase whatever bike dreams you might have. It really is something worth sharing to me.
“We’re helping give women racers the world stage that they deserve, and that is catapulting the sport forward.”
“WE ARE MOVING IN THE RIGHT DIRECTION. THERE’S A LOT MORE OPPORTUNITY NOWADAYS IN TERMS OF MEDIA COVERAGE, VISIBILITY, THERE’S BROADCAST, MORE SPONSORSHIP DOLLARS, BUT IT IS STILL A FRACTION OF THE MEN’S.”
Part of Veronneau’s mission with Zwift is to bring more people “to experience the profound joy and fitness that a bike can bring”
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What is the most challenging for women in the competitive sphere? I think access to racing and support when you want to get into racing. It’s intimidating to get into racing. Understanding where to start, what you need… The whole competitive side of the sport is pretty complex and there’s not a ton of development teams (for women) out there. We are moving in the right direction. There’s a lot more opportunity nowadays in terms of media coverage, visibility, there’s broadcast, more sponsorship dollars, but it is still a fraction of the men’s. Can you tell me about your personal experiences with this? (Kate shows me a picture of her playing basketball.) I never really felt disadvantaged because of my gender in basketball. I played with the guys, I played with the girls. I played through college because there was opportunity. If I was good enough, I could have gone to the WNBA. There was no limit, the path was clear. And then I get into cycling in my mid to late twenties and I’m like, what the hell is going on here? Trying to race at the pro level, it felt like a time warp, like we went back 20 years in sports. Tennis, football, other women’s sports had progressed so much since then. I was just floored by just how much inequality there was, lack of opportunities. It amazed me. And this is why I have so much respect for the women that have been doing it for so long because they show true perseverance. Do you think sponsorship still overlooks the potential that they have with women or girls at a young age? Danielle, I would sponsor a woman every day of the week over a guy because in my experience women have over-delivered on any kind of contractual obligations, always. Women are incredible word of mouth marketers. They’re very savvy on social media. They take all and any opportunity very seriously – they’re just really wonderful ambassadors for the sport and for your product, for your brand. These are really exciting relationships – plus – they have always had a great return on investment to show.
How can we level the playing field? The industry is built on sponsorship. I think what the industry can do is ensure that you’re equally investing. Look for new opportunities to get behind athletes that are working hard to pave their way and are also bringing others along with them. There are so many programmes out there, really doing everything they can to make cycling more inclusive and equal and give women the support they need to chase their goals. If a brand actively looks for this, you’re taking the right steps already. What do you see as the number one topic men need to be made aware of, when it comes to women in cycling? Funny enough I think the answer for me is awareness itself. I don’t think that very many men are aware of the fact that it is as unequal as it is. And yes, we are making great progress, but we’re really far from equality still. I want them to think of their partners, their daughters, their mothers, their sisters and think about what they can do, whether it’s when you’re watching Flanders, you’re watching both races that weekend. Are you making your local ride inclusive to women? That’s when you’re truly helping out and are starting to change matters. If guys pitched in, we would be a lot further along. What they can do starting today, is checking themselves a little bit and thinking about just the little things you can do on a daily basis, whether it is just following women’s teams or putting your money behind companies that are supporting the growth of cycling, making commercial decisions that support the future of the sport – holistically, or infrastructure – equally. Many men just have not encountered the same friction, resistance or challenges as women have. Until you’re made aware of it, you’re just kind of going about your day. I want to point out that there are men in the industry that get daughters or nieces into cycling; then they really start to see it and they become the biggest advocates. This is a big help. We can’t just do it on our own. We need advocates and allies. That brings me to another question: Who are your role models or mentors? Billie Jean King, number one. Just seeing what she did, when she did it. Pioneers like her – absolutely inspiring. Secondly, the racers and the women working in the sport of cycling for all these years
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44 45 46 48 INTERVIEW - Kate Verroneau By Danielle Reiff-Jongerius CIN01 2024_LAW.qxp 07/02/2024 14:36 Page 4
INTERVIEW
Photo: A.S.O./Fabien Boukla
KATE VERONNEAU | ZWIFT
2022’s Tour de France Femmes avec Zwift was the first women’s edition of the prestigious race
“MY FAVOURITE PART ABOUT THE TOUR DE FRANCE FEMMES AVEC ZWIFT IS SEEING THE KIDS ON THE SIDE OF THE ROAD AND KNOWING THAT SEEING WOMEN RACE BIKES IS NOW NORMAL TO THEM. IT GIVES ME HOPE FOR THE FUTURE. ”
Through data, Zwift’s has analysed the different barriers, challenges, preferences, behaviours, trends and needs of women cyclists.
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without a lot of visibility or sponsorship dollars. Done out of passion and love. Third: Anthony McCrossan from Cyclevox. He has been talking about women cycling way before anybody was listening, and I’m so happy and grateful to him for that. I hear his voice and it’s like the soothing sound of Anthony and it makes me happy because he also knows so much about the women’s peloton. He brings so much flavour to the commentary on broadcast. The backstories are so good in women’s cycling; he always has an eye and ear for that. And then last but not least: So many women just working in this sport that had to do three times the job of the men sitting next to them, are my role models. They know who they are, if they should read this. What advice would you give people new to the cycling industry having just landed their first job? Firstly: Be bold. Don’t be afraid to speak your mind. For me, it felt risky at times, but I wouldn’t be sitting here if I didn’t do that quite a bit. Don’t be afraid of uncomfortable conversations; point things out. Secondly: Surround yourself with mentors and people that you can look up to, people that you can get feedback from, you know, at different points in your career. This has certainly helped me a lot and still does. Thirdly: Find women in other industries. To me, these were helpful role models, too. Fourth: Find your male allies too, because the male allies are necessary for change and growth in the industry. Fifth: Pay attention and educate yourself on history. Educate yourself what little things we could do, learn from other sports and industries. Anything else that you feel that you really want to say, when it comes to women in cycling? I’m so optimistic about the future of women’s cycling. But I also recognise we have a lot of work to do. Each of us can do something in our roles, with our skills, in our community, with our dollars. So, I think that it’s going to take that kind of
DANIELLE REIFF-JONGERIUS Growing up in Utrecht, one of the cycling capitals of the world, Danielle Reiff-Jongerius has used her bike to get to school since the age of five. In 2015 she founded her agency, 138, in Munich while pregnant with her second child and with the vision to build her business around her family. Together with her husband, Philipp, it was decided they would merge both their businesses and share workload, income and parenting tasks equally. Today, 138’s values are reflected in a steadily growing company that puts their team first, while offering their expertise in content creation, marketing, communication and change management support to a diverse array of clients. Find out more at 138alternatives.com
consistent, intentional effort to keep this momentum going forward and we’re catching up very quickly. Will having more women in leadership roles help to understand better what female target groups would need? Yes, they’re just going to bring more perspective to the table. And that’s what this sport has been lacking. It’s such a beautiful old sport, however it’s rich history can also be its biggest barrier. The average cyclist is changing so fast, there’s so much to gain by having a wider perspective in the sport. That’s why I get so excited about the women’s side of the sport. What are you most proud of? My favourite part about the Tour de France Femmes avec Zwift is seeing the kids on the side of the road and knowing that seeing women race bikes is now normal to them. It gives me hope for the future. So, I think that honestly is what I’m most proud of. We’re helping give women racers the world stage that they deserve, and that is catapulting the sport forward. The fact that so many people did not know that there wasn’t a women’s Tour de France, and now they do.
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