Selle Italia Obtains Majority Share in Selle San Marco
ROSSANO VENETO, Italy – Two historical bicycle brands of the Italy’s Veneto district have joined forces. From now on Selle Italia and Selle San Marco will both work together closely in R&D and provide synergies in production.
Italian newspaper Il Gazzettino Vicenza Bassano quoted Selle Italia President Giuseppe Bigolin on the take-over: “We have gained more than 50 percent of the shares of Selle San Marco. Both companies together generate a turn-over of 30 million euro of which 23 million euro by Selle Italia.
The two brands will continue to operate separately. “The partnership between the two companies is supposed to support our strengths: design, research and the introduction of scientific elements in saddles. We both operate in the same markets but each in its own segments so we can create important production and marketing synergies”, said Giuseppe Bigolin in the Il Sole 24 Ore.
Selle Italia and Selle San Marco together claim to hold more than 50 percent of the global market of high-end bicycle saddles.
Next week more on Selle Italia and Selle San Marco partnership.