Mavic Sales Decline
ANNECY, France – Mavic made a disappointing start in 2016. In the first quarter of 2016 the bicycle components manufacturer saw its net sales decrease by 2% to 39.7 million euro compared with January – March 2015.
The net sales of Mavic owner Amer Sports increased by 10% in local currencies in January – March 2016 to 635.5 million euro. Besides wintersport which saw its turnover decline by 10% in the first quarter in 2016, all other outdoor categories of Amer Sports, including footwear, apparel and sports instrument performed very good with double digit growth figures.
ENVE to accelerate cycling business
On March 8, 2016 Amer Sports acquired 100% of the shares in the company ENVE Composites LLC. “ENVE is a fast-growing brand in high-end carbon wheels, components, and accessories for road and mountain biking with annual sales of approximately USD 30 million,” said Amer Sports in its first quarter financial report.
“The acquisition accelerates our cycling business especially in the United States and provides further expansion opportunities internationally. ENVE brings capabilities in carbon technology, and it offers operational scale and synergy benefits complementing our cycling category. The acquisition price was approximately USD 50 million in an all-cash transaction.”