Concentration on Italian E-Bike Market with Italwin Take-Over
BOLOGNA, Italy – Termal Group and its subsidiary Five has expanded its position on the Italian e-bike market with the acquisition of the Italwin brand. The take-over was announced just after the publication of the 2015 sales statistics by industry association ANCMA which indicated that the Italian e-bike market grew by nearly 10% last year.
Italwin started on the Italian e-bike market in 2003 and is regarded market leader in this product category in Italy. “In the future we will focus on our project called ‘Cargo & Street Food’ with dedicated light electric vehicles as well as the foundation of the country’s first national centre of technical assistance for e-bikes,” says Gary Fabris, commercial director of the electric vehicles division at Italwin srl. “The company name Italwin srl. will be changed into Toper srl.”
The acquisition of Italwin is part of Five’s strategy, “to strengthen our position in light electric mobility, in order to reach out for market leadership in a sector that has great potential,” the company reports in a press release. Five also wants, “to consolidate our commercial activities after finishing a futuristic factory in Bologna which is completely dedicated to the production of e-bikes.” This factory was opened in 2014 and has a capacity of 35,000 units annually.
Flagship stores and IBDs
Five has been distributing the Wayel and Hinergybike branded e-bikes and electric mopeds since 2007 via motorcycle dealers as well as a group of flagship stores. These are located in 15 Italian cities and partly owned and in franchise. In the press release Five states that “the brand Italwin will continue to focus on the IBD network and enjoy a strong expansion of the product range.”
The acquisition will be effective as of September 1st, 2016 and will be presented at Italy’s bicycle show Cosmobike which will take place from September 16th to 19th.