Felt Bicycles to be sold as Pierer Mobility concentrates on e-bikes and motorcycles

US bike brand to change hands for third time in six years, with R Raymon also being sold, as Austrian parent company focuses on its motor-powered brands KTM, Husqvarna, GasGas and MVAgusta

Clock18:21, Wednesday 6th December 2023
While Felt will be sold, the brand is expected to continue making bikes in 2024

© Velo Collection (TDW) / Getty Images

While Felt will be sold, the brand is expected to continue making bikes in 2024

Pierer Mobility, an Austrian firm that owns several bike, e-bike and motorcycle brands, has decided to sell its control of the Felt Bicycles brand to a consortium led by Florian Burguet.

In a move to focus the company's interest around its entities that produce motorcycles and e-bikes, the board of directors have decided to excise US company Felt, as well as the R Raymon bicycle brand.

Pierer Mobility also owns the KTM, Husqvarna, MVAgusta and GasGas brands.

While the move is one born out of some of the changing tides of the bike and e-bike economic market, both Raymon and Felt Bicycles will continue to exist in 2024. The only change is with their ownership structure, with both brands returning to a more independent model.

Raymon, a brand that was founded in 2017, already has a signed deal with Susan and Felix Puello for the brand to continue in 2024 under an independent set-up.

Read more: Raleigh set for restructure and job cuts

Felt Bikes has not yet been officially sold. However, the process of selling the brand has been initiated, and is likely to be completed in the first half of 2024.

Florian Burguet, whose role in the Pierer Mobility corporation was as the managing director of KTM Canada, will be leaving his position as a board member of the Pierre Mobility group to head the Felt brand into the future.

Felt was founded in 1991 by motocross mechanic Jim Felt and it started out producing time trial and triathlon bikes alongside Answer Sports, until a split in 2000 saw it re-launch as an independent entity.

The company expanded significantly in the subsequent years, and was bought by the Rossignol Group in 2017 before being sold on to Pierer at the end of 2021. Barely two years later, it's changing hands again.

In an announcement on Wednesday, Pierer Mobility Group described 2024 as "a year of consolidation", outlining double-digit million cost-cutting measures amid a "difficult" global economic environment.

The cycling industry in particular has suffered something of a crisis in recent months, with retail giants such as Wiggle Chain Reaction Cycles going into administration, and numerous brands struggling with post-pandemic hangovers on top of soaring costs, inflation, and tightening of consumer purse strings.

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