Cannondale (NASDAQ:BIKE) says race win boosts prospects
Reuters, Sunday, June 08, 1997 at 18:21
GEORGETOWN, Conn., June 8 (Reuter) - Cannondale Corp said Sunday that it is seeing increased sales of its bicycles and accesories in Europe as a result of its sponosorship of the Saeco racing team, one of whose riders won the Giro d'Italia, one of Europe's most presigious races, on Saturday.
The company said it is already enjoying increased sales of its road bikes in Europe.
Sales of a new line of accessories, ranging from duffel bags to cycling jerseys emblazoned with the Saeco team's logos, are also strong, said Cannondale.
The comapny added that it fully expects the demand for Cannondale goods in Europe to increase.
"We've seen a huge jump in road bike sales already," said president Joe Montgomery, "and with this win the excitement will surely grow.
The European road bike market is huge, and we've only scratched the surface in terms of penetration."
Cannondale is a leading manufacturer of high-performance aluminum bicycles.
The company had net sales of $146 million in fiscal 1996.
Copyright 1997, Reuters News Service |
