Giant Focuses on Growth in North America
TAICHUNG, Taiwan – As third largest brand behind Trek and Specialized, Giant is stepping up its presence on the North American market to grow its market share. “In the first half of this year our IBD sales in the US are up 13.8 percent compared with the same period last year,” said Giant Bicycle CEO Tony Lo yesterday in an interview with Bloomberg.
Today some 125 IBD shops in the US offer Giant bikes as at least half of their inventory and the Taiwanese manufacturer wants to grow this number to 155 by the end of 2016. Another 1,000 stores carry Giant bikes in lesser proportions and with other models.
Tony Lo points out that the market provides ample space to grow. “If bike manufacturers can simply convince more people to buy bicycles, all companies can expand,” he said. “Only 18 percent of the world’s population rides a bicycle and it is also our job to grow this number.”
Giant sales in Europe
According to Giant its sales in Europe, “are up almost 7 percent in the first half of this year compared with the same period last year.”
Only in China, Giant’s biggest market, sales declined by 8.5 percent due to the slowing economy. In 2014 Giant generated a sales increase of 10.4 percent to a total turnover of TWD 60 billion (USD 2 bn) helped by the fact that the company is also an OEM manufacturer for many of its competitors like Trek and Scott.