Colnago tripled its turnover to €55 million within the final three years, revealing a revenue of €14 million for 2023, as their technique of concentrating on the high-end ultra-expensive market and sponsoring Tadej Pogačar’s UAE Team Emirates squad and the ladies’s UAE Team ADQ, seems to be paying off.
“Our mission is to be probably the most fascinating bicycle model on the earth. At this level, after all, we predict we’re heading in the right direction,” Nicola Rosin, CEO of Colnago, mentioned after shareholders permitted the corporate’s 2023 monetary assertion.
The biking business has suffered a growth and bust situation following the COVID-19 pandemic, with enormous progress in gross sales sparking overstocking after which a serious downturn out there which continues to be being felt in 2024. Several manufacturers have suffered losses, with many launching gross sales to try to clear large inventory.
Colnago seems to have bucked the market development by concentrating on the very high-end of the market, with a Colnago C68 bike geared up with Shimano Dura-Ace Di2 priced at greater than €12,000. The Colnago V4RS bike utilized by Pogačar retails for the same worth.
The improve in turnover has come throughout Colnago’s sponsorship of Pogačar’s UAE Team Emirates group and UAE Team ADQ ladies’s group. Pogačar received the Tour de France in 2020 and 2021 and has emerged as probably the most profitable rider of his era.
Colnago was purchased by the United Arab Emirates-based Royal Group in 2020 from founder and proprietor Ernesto Colnago in 2020. The Legendary bike builder and his household have since opened a museum referred to as La Collezione Ernesto Colnago however are now not concerned within the bike firm.
Royal Group is managed by the household workplace of the Abu Dhabi royal household and led by Sheikh Tahnoon bin Zayed al-Nahyan, UAE President Sheikh Mohammed bin Zayed al-Nahyan’s brother.
“The alternative to have two nice groups within the WorldTour, each female and male, UAE Team Emirates and UAE Team ADQ, raises the extent of their calls for and stimulates us each day to enhance our product,” Rosin mentioned.
“Colnago is a well-organised firm, with succesful managers and an excellent sense of belonging.”
