GIVISIEZ, Switzerland - After Scott Sports Group majority owner Youngone Corporation dismissed longstanding CEO Beat Zaugg with immediate effect at the end of March they appointed investment banker Juwon Kim as his successor. This was the starting point for a power struggle between longtime industry expert Zaugg and Youngone. Now the dust seems to have settled with the appointment of a CEO duo.
GIVISIEZ, Switzerland - The announcement by Scott Sports Group SA majority shareholder Youngone Corporation to lay-off its CEO and minority shareholder Beat Zaugg did not come as a surprise for industry insiders. Following the cash injection of SFR 150 million (€160.6 million) by Youngone last December, a reorganisation was inevitable.
SEOUL, South Korea - Scott Sports owner Youngone Corporation has granted its subsidiary a temporary financial injection of SFR 150 million (€160.6 million). The high inventory levels throughout the bicycle sector is tying up so much capital that even profitable companies like Scott Sports are in urgent need of capital to continue their daily operations.
GIVISIEZ, Switzerland - With a recent ruling of the UK Intellectual Property Office the case between the owners of the name of AC/DC's lead singer Bon Scott and Scott Sports SA the legal dispute has come to an end. Scott Sports had filed the case in 2020/2021 with regard to the application of the trademark for clothing items and sunglasses.
NOTWILL, Switzerland - The annual Swiss bicycle industry meeting at InfoTech centered this year around the panel discussion with industry leaders. The huge inventory, especially at retailers, worries people on all levels in the industry.
LUDHIANA, India - The 2023 edition of India's largest bicycle show Cycle, Fitness & Outdoor Sports Expo (CFOSE) held in February proved to be a difficult one. Support from domestic bicycle OEM's was largely absent and international exhibitors particularly from China continued to stay away. Also a strategic international partnership has now been called-off.
MUNICH, Germany - In summer 2020, Messe Munich presented their bold vision to bring together all mobility stakeholders, from cycling to automotive, and unite them under one roof at the IAA Mobility. Scott and Bergamont were the first cycling brands which registered, and more have followed according to Messe Munich.
GIVISIEZ, Switzerland - With a total of 72 different e-bike models, the 2021 eRIDE collection from multisport supplier Scott Sports takes a comprehensive approach to this year's season. Better known for sportive premium bicycles, the Swiss company now has a fair amount of urban e-bikes in its latest portfolio.
COLOGNE, Germany - From 11 to 23 August German biggest dealer cooperative, Zweirad Einkaufs Genossenschaft eG (ZEG), invites its IBD partners to its traditional house show. A new addition this year is the Accell Group. Europe's largest premium bike supplier with its German brands Ghost, Haibike, and Winora have been added as a contract supplier to ZEG's wide product portfolio.
GIVISIEZ, Switzerland - Due to the corona-pandemic Scott Sports SA's e-commerce business reports a strong 48 percent (YTD) website traffic increase. On the back of this impressive number, the Swiss multi-sports company announced further e-commerce targets. Scott plans to expand its strategy "continuously interlocking consumers, retail and the brand" into further key markets - meaning that more consumers will soon be able to order products 24/7 online.
