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MAVIC Goes Into Receivership

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Image: mavic.com

MAVIC In Receivership

Mavic is most known for its wheels, for example, the popular COSMIC brand, but also sell apparel including shoes.

Receivership

French-based MAVIC has been placed in receivership. This means that they have 6 months to sort out their financial affairs whilst being run by an administrator. That’s bad news for their 250 or so employees.

I would be highly surprised if the strong MAVIC brand does not continue in some form, although in these uncertain times we could speculate that the brand rights and other assets might be snapped up by a Chinese company and production moved elsewhere. That definitely wouldn’t help the French employees and employees elsewhere.

This news perhaps adds some clarity to the sale of AMER Sports (Salomon, Suunto, etc) last year which the MAVIC company was excluded from. I believe MAVIC was loss-making at that time so it sounds like the new owners of AMER didn’t want that particular part of the corporate portfolio, fair enough. Cycling Weekly reports a degree of ire from Mavic employees who seem to ‘smell a rat’ (perhaps where none is to be smelt) and seem to think that they were abandoned by the new owner.

Perhaps Chimera investment, the new owner of Colnago, might want to add to their new cycling portfolio?

 

Source: cycling weekly, road.cc

The mystery of the smelly rat deepens see here for more: https://www.cyclingnews.com/news/mavic-employees-demand-answers-after-mystery-takeover/

 

 

Amer Sports (Suunto) – Sold – Almost

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