Campagnolo Announces Strategy Change at 80th Anniversary
VICENZA, Italy – Yesterday, Valentino Campagnolo and his family – up to the 4th generation – celebrated the 80th anniversary of his company. At this party with lots of former cycling champions, business partners and friends as well as media, a strategic change for the iconic road race parts maker was announced.
This strategy change has nothing to do with Campagnolo’s results during the past four years; since the start of the economic crisis. In the 2009 – 2012 period the Italian manufacturer saw its results grow with 21%.
Nowadays Campagnolo operates two production facilities in Vicenza, Italy, two in Romania and one logistics center in Taichung, Taiwan. Next to that the company also owns seven subsidiaries located all around the world. All in all Campagnolo employs about 750 people currently.
More money from Asia
The specialist road race and accessory component maker makes increasingly more money in Asia. Here Campagnolo’s revenues grew with 13% in China, Taiwan and Hong Kong. In other Far Eastern countries 6.2% growth was registered in 2012 while in Europe results upped 3%. 64% of the company’s turnover was made in Europe last year.
Campagnolo makes the biggest part of its turnover with Aftermarket business; said marketing and sales director Lorenzo Taxis at the official part of the celebration’s that marked the company’s milestone. He also said that Campagnolo’s Aftermarket business is changing.
“Customers used to buy frames and had it assembled with our parts into a complete bike. Now they buy ready to ride bikes which are pre-assembled. This means that our strategies have to be updated. We need to focus more on OEM business and need to provide better service to the bicycle makers and the bike brands, We are sure that our parts are suited for OEMs.”
When asked to elaborate on the updates strategies towards OEMs, Taxis said: “This company was very much focused on AM, Now we want to focus more on OEMs. We do that by following them more closely in their ordering cycle and planning and for instance with our new logistics center in Taichung, Taiwan.”