Derby Cycle Founded Sales Company in Australia
Stock listed Derby Cycle AG founded a subsidiary in Australia recently. With the completion of the asset deal with Green Apple Sports Ltd Derby Cycle launched direct sales in Australia.
CLOPPENBURG, Germany – Stock listed Derby Cycle AG founded a subsidiary in Australia recently. With the completion of the asset deal with Green Apple Sports Ltd Derby Cycle launched direct sales in Australia.
The Australian market has been served via a distributor to date, Green Apple Sports Limited. The newly founded company Derby Cycle Australia Pty Limited will sell directly to customers on a local basis. To this end, the company has acquired inventories and customer receivables from Green Apple Sports Limited, thereby creating a starting basis for further growth in Australia.
Graeme Moffett, who has been the owner and Managing Director of Green Apple Sports to date, will manage Derby Cycle’s business in Australia as Managing Director.
“The Australian market is particularly distinguished by strong demand in the sports segment”, said Mathias Seidler, CEO of Derby Cycle AG. “As a consequence, we are currently selling high-quality racing bikes and mountain bikes from our Focus brand in Australia. In total around 1.2 million bicycles are sold in Australia per year, the value of the Australian bicycle market is estimated to be approximately one billion Australian Dollars (750 million euro) per year at retail level”.
Uwe Bögershausen, CFO of Derby Cycle AG, went on to add: "With our entry into direct sales in Australia, the internationalisation strategy that we presented as part of our IPO is gathering further momentum. We will continue to drive further ahead with this strategy in the future."