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May 26, 2016 – It’s official, Canyon CEO and Founder Roman Arnold said in a Canyon press release yesterday that the German direct-to-consumer brand will begin distribution in the US in the Spring of 2017. They have partnered with an investment firm called TSG Consumer Partners – worth in excess of $5billion – to facilitate the move.
Thanks to a strong World Tour presence and highly regarded product at aggressive prices Canyon has grown rapidly since the first bike wearing a Canyon badge was seen in 1996. The bikes are designed in Germany, made in Asia and then assembled back in Germany, before heading out across the globe, with the notable exception of the United States. That will change in 2017.
Canyon’s rapid growth has not been without its headaches, notably during late 2015 and early 2016. With the building of a new factory to handle increased demand for product and a new IT system to handle the associated orders, the system came to a screeching halt. Wait times for many buyers, typically two to six weeks, stretched into months. Canyon has solved those problems, but is still digging out of the hole the crisis created. The experience should have provided Canyon with many lessons that will help while opening a market the size of the US.
Roman Arnold acknowledged the desire for Canyon bikes in the US, but stressed they needed to be ready. “The demand for Canyon bikes in the U.S. is already very high. But we also want to deliver an exceptional Canyon customer experience, on par with the quality of our products.”
Canyon has no dealer network and ships bikes almost completely assembled. How potential duties or increased shipping charges may change Canyon’s pricing was not addressed in the company’s Wednesday press release. Typically a Canyon costs 2/3 of what a comparable traditional brand might charge. Canyon makes a full range of bikes – road, mountain, triathlon, urban and fitness.
This is a move both Trek and Specialized have prepared for by opening their own direct-to-consumer channels, to the dismay of their established dealer networks.
Look for the Peloton Service Course to begin getting Canyon bikes in for test as soon as possible.