According to Bloomberg News, citing people familiar with the matter, LVMH's investment fund, L Catterton, is in talks with Italian high-end bicycle manufacturer Cicli Pinarello SpA to acquire a majority stake in the latter.
The Italian media Tuttobiciweb disclosed the deal a few days ago, saying that the deal had been negotiated for several months and Pinarello’s family members would continue to hold key positions in the company regardless of the sale.
The Pinarello brand was founded in 1952 and founder Giovanni Pinarello was a professional cyclist. Manual manufacturing (not mechanical production) is one of the features of the Pinarello brand, and its products are therefore expensive. The F8 Dogma collection under the company's name is known as the "cyclist Ferrari" and sells for between 1 and 12,000 euros. between.
Pinarello's products are aimed at professional cyclists and riders. One of the mounts of Bradley Wiggins, the winner of the Tour de France, is a F8 Dogma customized by Pinarello.
In addition to bicycle products, Pinarello also operates a tourism and vacation project with bicycle riding themes in Italy, the United States, and Australia.
The deal with Pinarello was the second acquisition planned by LVMH in the last month. Earlier this month, LVMH agreed to acquire an 80% stake in the premium luggage brand Rimowa for 640 million Euros. This transaction was also the largest single transaction since LVMH acquired Loro Piana, a premium wool clothing brand, in 2013.
However, trying the bicycle business is not without risks compared to the LVMH, which has long been familiar with the luggage.
In 2012, Dolce & Gabbana launched a cheetah-patterned bicycle for $2,000, but it was a short-lived one at the time. The exploration of bicycles like Fendi and Chanel is also limited to limited editions of water. The only business that made bicycles a growth line was Hermès, which began manufacturing artificial high-end bicycles in 2013. The product line is owned by Hermes Home. The combination of luxury goods and bicycles is not unacceptable, and success depends to a large extent on the luxury companies’ understanding of this new category - whether it is product design, manufacturing process, sales channels or marketing tools, bicycles are different. Handbags, clothing and other products.
Sports Hermes Bicycle, picture by Hermes
Of course, the involvement of LVMH in the bicycle industry is not incomprehensible.
People's health needs have been rising. For the rich class, since there are luxury handbags and clothing, why can't we have luxury luxury bicycles? LVMH may have taken a fancy to this market, and its more powerful sales resources will have the potential to expand in a broader market than Pinarello itself. If it is acquired by LVMH, it will not be impossible for Pinarello to launch more products targeted at mass consumers on the product line. On the other hand, the acquisition of new product categories will also add new sources of income to LVMH, especially in the current sluggish luxury market.
Topics from Pinarello.com
Source: Curiosity Daily
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