Who Makes What?

Wednesday, 3 September 2014

Cicli Bianchi

Want to know who made your bike? Which companies dominate the sector? Who owns a particular brand? Here’s a guide that shows most of the main companies in the sector with a few surprises.

This blog post is a copy of the page that sits permanently at the top in the links but I’ve made a few updates and wanted to put it on the front page again especially in the hope readers can make more suggestions and even corrections if things have changed.

Nationality is a subjective issue in a world of global brands and international trade. I’ve tried to list nationality by the parent company HQ, so whilst you might think of Oakley sunglasses as an American brand yet the business is owned by Luxottica, an Italian company from Milan. The same for French wheel manufacturer Mavic, whose head office is in the French Alps but controlled and owned by a company from Finland.

  • If you’re viewing this page on a mobile device then the full table might not appear. Scroll down to the foot of the screen to toggle the mobile / normal site design switch.
Name Country Other brands Corporate Name Owner / shareholders
Continental Germany - Continental AG Deutsche Börse, Schäffler AG / family
Michelin France - Michelin SA Euronext Stock Exchange
Hutchinson France Barry Controls, Marine/Aerospace Total SA Euronext Stock Exchange
Schwalbe Germany Ballon Bike Ralf Bohle GmbH Bohle family
Veloflex Italy - Veloflex s.a.s Gabriele Colleoni
Vittoria Italy Geax, Lion Vittoria SpA Private
Orbea Spain Fagor, Brandt electrical goods Corporación Mondragón Workers’ co-op
Fuji USA Kestrel, Oval Concepts, Terry Advanced Sports International Private
Cinelli Italy Columbus tubing, Bootleg Gruppo SpA Antonio Colombo
Ritchey USA - Ritchey Design Tom Ritchey
Reynolds USA Reynolds Composites Maclean-Fogg Inc. MacLean family
Cervélo Netherlands Focus, Univega, Gazzelle Pon Holdings BV Family-owned
Canyon Germany Coast Canyon Bicycles GmbH Roman Arnold
BMC Switzerland Stromer electric BMC Trading AG Andy Rihs
Felt USA - Felt Racing, LLC Jim Felt, Michael Müllmann & Duerhing family
Merckx Belgium - Diepensteyn SA Toye family
Ridley Belgium 4ZA wheels N.V. Race Productions Jochim Aerts, Belgian govt.
Finish Line USA White Lightening Finish Line Technologies Inc. Hank Krause
DT Swiss Switzerland - DT Swiss AG Frank Böckmann, Maurizio D’Alberto and Marco Zingg
Sapim Belgium Rigida rims Famo NV Moorkens family
Park Tools USA - Park Tool Co Eric Hawkins
Shimano Japan Pearl Izumi, Pro Shimano Inc. Tokyo Stock Exchange
Campagnolo Italy Fulcrum Campagnolo SpA Campagnolo family
SRAM USA Avid, Quarq, Truvativ, Zipp SRAM LLC Trilantic Capital Partners
Cannondale Canada Schwinn, GT, Mongoose, SUGOI, Charge Dorel Group Toronto Stock Exchange
Bianchi Sweden Cycles Peugeot, Gitane, Puch, Tec Tools Cycle Europe AB Grimaldi family
Pinarello Italy - Cicli Pinarello S.p.A Pinarello family
Mavic Finland Suunto, Atomic, Wilson, Salomon Amer Sports Helsinki Stock Exchange
Trek USA Bontrager, Gary Fisher, Klein, Viliger, Electra Trek Bicycle Corp. Private
Specialized USA Retül Specialized Bicycle Components Merida, Mike Sinyard
Merida Taiwan Specialized, Boardman etc Merida Industry Co Ltd Taiwan Stock Exchange
Scott Switzerland Yoko, Syncros
Scott Sports AG Beat Zaugg
Koga Miyata Netherlands Batavus, Lapierre, Van Nicholas, Mercier, Raleigh, Ghost
Accell Group Euronext Stock Exchange
Giro USA Bell, Easton, Blackburn Easton Bell Sports Race Face Performance
Nalini Italy MOA, Agu, Adidas cycling MOA Sport SpA Mantovani family
Assos Switzerland Assos of Switzerland SA Maier family
Rapha UK Rapha Racing Ltd Simon Mottram, Active Private Equity
Castelli Italy Sportful Manifattura Valcismon SpA Cremonese family
Sidi Italy Sidi Sport Dino Signori
Gaerne Italy Gaerne spa Ernesto Gazzola
Giant Taiwan certain Colnago frames under licence Giant Manufacturing Co Ltd Taiwan Stock Exchange
Oakley Italy Ray Ban, Persol, Chanel & Prada under license, Sunglass Hut Luxxotica Group Delfin, Giorgio Armani
Kuota Italy Xentis, Kross, Kaya, K-Factor Sintema Sport Private
FSA Taiwan TH Products, RPM, VisionTech Tien Hsin Industries Private
fi’zi:k Italy Selle Royal, Lookin, Royal Gel, Brooks, Crank Bros Selle Royal SpA Private
Zéfal France Stronglight Zéfal SA Private
CycleSport Magazine UK Cycling Weekly, Horse, Wallpaper
Time Warner (IPC being sold)
New York Stock Exchange
cyclingnews.com UK Pro Cycling, Bike Radar Immediate Media
Exponent Private Equity
Velonews.com USA Velo Magazine Competitor Group (for sale)
Calera Capital
L’Équipe France ASO (Tour de France, Paris-Nice, Dauphiné, Paris-Roubaix, Liège-Bastoge-Liège etc), Le Parisien, Paris Marathon, L’Etape du Tour
Groupe Amaury Amaury Family + others
Gazzetta Dello Sport Italy RCS (Giro, Milan-Sanremo, Il Lombardia etc), Corriere della Sera, Marca RCS Media Group Italian Stock Exchange
Wiggle.com UK DHB clothing Wiggle Ltd Bridgepoint Capital
ChainReactionCycles UK Vitus Chain Reaction Cycles Watson Family
CompetitiveCyclist USA Dogfunk, Whiskey Militia Backcountry.com Liberty Media
The bike market according to SRAM

The bike market according to SRAM

If you want more detail on this subject, see previous items like “Who Made Your Bike” which looks at the factories in Asia who produce frames and more for the big brands. Or “Italy’s backward shoemakers” for a look at Sidi, Gaerne and other producers and their surprising proximity and why Sidi is called Sidi.

{ 33 comments… read them below or add one }

HJ September 3, 2014 at 10:38 pm

For readability, I think i would switch the country column with the corporate name column .. But that is just my 2 ct’s .. It’s always interesting to see how things tie together…

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Dave Ladkin September 4, 2014 at 12:11 am

Don’t SRAM also own Rockshox if I remember rightly?

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davidk September 4, 2014 at 12:42 am

Halfords bought Boardman Bikes this summer. Halfords are a public company listed on the LSE. Seems like the frames may come from a couple of factories in the Far East (you say Merida).

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Steve September 4, 2014 at 1:24 am

Thanks for this. SRAMs numbers seem quite large compared to other market research I’ve seen. Would be great to see an update of the market size numbers and know what portion is retail vs. online. Of course SRAMs numbers focuses on gear – the segment they compete in. Would also like to see the size of the other three product segments and their sub-segments 1)bikes-road, mountain, etc., 2)accessories-computers, electronics, racks, cameras, lighting, etc. and 3)clothing- kits, helmets and shoes

Research firm Leisure Trends estimated 2013 US retail sales alone came in at $3.2 billion for the gear segment broken out in SRAMs numbers and the other three segments (http://www.bicycleretailer.com/studies-reports/2014/02/10/leisure-trends-december-closes-out-down-year-ibds#.VAeZ7xbgV8E.). Add to that number an estimate for non US sales and online sales and you could probably at least double Leisure Trends US retail number.

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leonn September 4, 2014 at 3:24 am

Good to know. I thought Cervélo was Canadian, Bianchi is Italian and Mavic is French.

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Anonymous September 4, 2014 at 4:47 am

Cervelo is based in Toronto, so it’s a Canadian company recently sold to the Dutch Pon Holdings group.

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Gingerflash September 4, 2014 at 3:05 pm

Yes, it a pretty misleading table as it suggests at first glance that the company in the first column is the parent and owns the “other brands” companies. In fact Cervelo is just one of the companies owned by Pon, in the last column.

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channel_zero September 4, 2014 at 6:28 pm

The bike industry is a tangled, constantly shifting, web of who-owns-what-buying-from-someone-else. There’s no table that can sort it sensibly.

Give Inrrng some credit for at least trying to sort it out a little.

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J September 4, 2014 at 5:26 am

Trek may still own the Klein brand, but are not making or marketing Klein-badged bikes anymore. Even (Gary) Fisher has essentially been completely folded into Trek.

In Europe, Trek owns Diamant in addition to Villiger.

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C September 4, 2014 at 9:44 am

Afaik the Raleigh companies world wide were acquired by The Derby Cycle Corporation in 2001.
Derby Cycles Germany (biggest German bike manufacturer) has been acquired by Pon in 2011. Since then Raleigh is owned by Pon.

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P September 4, 2014 at 4:46 pm
Anonymous September 4, 2014 at 10:10 am

I can support the “family” and avoid the money obsessed bandwagon spivs, thanks.

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AK September 4, 2014 at 10:49 pm

And what about the money obsessed families?

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steve September 5, 2014 at 12:43 am

kaboom!

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Anonymous September 5, 2014 at 10:21 am

That’s my choice. End of.

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CH September 4, 2014 at 11:03 am

No Colnago?

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Girona September 4, 2014 at 11:29 am

Merida is listed as the owner of Specialized (!), yet the latter is a US company. How does that work out?
Any knowledge about Gore Bikewear?

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Gingerflash September 4, 2014 at 3:07 pm

Presumably by Specialized being incorporated in USA and Merida owning a chunk of their shares.
A company’s nationality is determined by the country in which it is registered, not by who owns the shares.

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Gingerflash September 4, 2014 at 3:15 pm

In fact, taking that further, i think the list is probably wrong or at least inconsistent, as I’m pretty certain Oakley is incorporated in USA and Cervelo in Canada. Mavic SAS is definitely a French company. Their shares will have been acquired by companies from other countries.
Their ownership might now be foreign to their original countries byut the companies’ nationality hasn’t changed.

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channel_zero September 4, 2014 at 6:26 pm

As an equity owner, Merida requires Specialized buy Merida product. Specialized likely provides “market inteligence” for Merida’s product development/roadmap.

This business arrangement works out as a great tax dodge because American revenue is expatriated under the guise of a high price paid per bike when it lands on U.S. soil. The American company always somehow manages to operate near break-even. All the revenue leaves the country. This business model is very common in the computer industry.

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PedalRon September 4, 2014 at 2:50 pm

This is a cool report!

Back in March I shook the hand of the son of Mr. Casati, the man who started the company and built one of my favorite road bikes. Pretty cool to meet his son, who owns and runs the family business today in Monza.

I’m sure anyone who lovingly owns a custom/small fab. bicycle knows this thrill.

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Tae September 4, 2014 at 4:35 pm

I think you’ve got the information on Easton-Bell Sports a little mixed up. First of all, only Easton-Bell’s (now calling itself BRG) “Easton Cycling” division was sold – that’s their wheels and components – and they’re holding onto Giro, Bell, and Blackburn (and selling off their baseball and hockey divisions as well). Furthermore, Easton Cycling was sold to Chris Tutton and not RaceFace. Now, Chris Tutton happens to own RaceFace as well, and it sounds like the two companies are sharing resources, but they’re being run as separate entities.

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channel_zero September 4, 2014 at 6:17 pm

The list gets messy with these notes, do with them as you will.

Kinesis is not on your list. They build bikes for so many brands worldwide it’s impossible to keep track. Felt is a Kinesis customer.

Giant builds a whole bunch of Trek product and probably the odd Specialized model. Giant is a conventional Taiwanese OEM. They brand their own product where they did not/do not have an in-country OEM customer moving lots of product.

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AK September 4, 2014 at 10:47 pm

Re: Sapim and Rigida: Rigida rims are called ‘Ryde’ for a couple of years now.

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yossarian September 5, 2014 at 12:10 am

Anyone know the relationship between Planet X and resurrected brands Viner and Holdsworth. Have they bought the names or bought the companies?

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Anonymous September 5, 2014 at 8:16 am

Planet x own Viner and Holdsworth .

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Dave September 7, 2014 at 9:25 am

Interesting discussion about Planet-X business in the latest Rouleur podcast and magazine (I have no association with them), minor content spoiler but P-X are/were looking into moving an Italian manufacturing plant en-masse into the UK to be able to build steel Holdsworth frames in the UK (P-X are based near Sheffield which was historically England’s steel town).

Not sure how much company was left to buy, but Planet-X/On One have bought all manner of companies/brands, with the US MTB names Titus (which they are selling) and Tomac, which seems to have hit the back burner.

I assume external links are acceptable here?

http://rouleur.cc/journal/podcasts/issue-49-podcast
http://www.on-one.co.uk/news/brant-blog/q/date/2013/09/18/hanging-with-the-tomacs

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Steve Ragan September 5, 2014 at 12:22 pm

I think Dorel also bought Guru, the Canadian manufacturer of custom carbon frames and a very nice bike fit system.

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frank September 6, 2014 at 7:03 pm

Is colnago still owned by the family?

On a related issue Giovanni pinarello died in Treviso on Thursday night aged 92.

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The Wren September 7, 2014 at 10:37 am

Boardman have bikes made by Axeman and Strongman, alloy and carbon but I can’t remember which does what. That’s in addition to Merida. Gore Bike Wear is still a private, family owned business, W L Gore and Associates, the founders name and his employees who own work for but also own the company. W L Gore created the GORE-TEX fabric and also make industrial, medical and electrical products. Born in the USA.

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BarryS September 8, 2014 at 7:35 am

A bit late to post but I thought people might like this one. I recently bought an IAM kit (cause I like it) made by Swiss firm CUORE. On the tag on the inside said it said “Swiss Precision meets Italian Passion”. On the other side it says “Made in China”. I have renamed it “Swiss Precision meets Italian Passion but is overruled by economic reality”

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Chuck September 9, 2014 at 12:04 am

I’m always curious to know who makes Specialized and Scott shoes, since they are nearly identical, and whether the same company makes shoes for anyone else.

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CS September 9, 2014 at 2:47 pm

Its a good list, on bicycle manufacturer one of the interesting things is who manufactures what. This goes into Taiwanese factories – some brands such as Giant actually manufacture themself whereas other everyday brands are still supplied – these suppliers are deliver to other brands. This leads to the ‘open mold’ discussion and also the cheap rip-offs which appear to come from the same mold.

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