LeBron James joins Canyon - bike manufacturer names concrete goal for US market in TOUR interview
Thomas Goldmann
· 05.08.2022
New investors at Canyon
Canyon has gained two new investors in LRMR Ventures, the investment firm of basketball superstar LeBron James and Maverick Carter, and SC Holdings, the Koblenz-based company announced.
"As an avid cyclist and brand developer, I am very excited to partner with Canyon. The quality of the products, the strength of the Canyon brand and the unique distribution model create a number of exciting opportunities that we want to be a part of developing," says Maverick Carter in the Canyon press release.
Canyon founder speaks out
Canyon company founder Roman Arnold is delighted about the deal. "Whilst we weren't actively looking for new investors, LRMR and the SC team immediately understood our mission to create the most inspiring and innovative bike company in the world. Their passion for what we are building will make them key members of our team," explained Arnold, who handed over the management of the company in October 2020.
Boost for Canyon from LeBron James?
The company is hoping that the entry of investors centred around LeBron James will give it a boost on the US market, where Canyon has been active since 2017 is. Canyon is focussing primarily on the e-bike sector and cycling in urban areas. At the same time, the digital sector is being strengthened. Robert Kyncl, Chief Business Officer at YouTube, will become a new member of the Canyon Advisory Board.
Interview: Canyon comments on the LeBron James deal
Canyon spoke to TOUR about the role of Kyncl and the specific goals in the USA.
TOUR: You write that you want to push ahead with your growth plans in the USA. Can you give specific figures on how many bikes you want to sell in the USA over the next few years?
Canyon: Our goal is to double the number of bicycles sold in the USA in the next four years.
TOUR: With LeBron James, you now have one of the most prominent US athletes on board: How do you want to utilise his reach for Canyon? What is planned?
Canyon: LRMR and SC will be passive investors and will not be part of the board. We can use their expertise to advance our US plans - especially in terms of their marketing expertise and knowledge of the US market - but there are currently no plans to get involved.
TOUR: What role should Canyon brand stars like Mathieu van der Poel, Fabio Wibmer or Jan Frodeno play in making Canyon even more present in the USA?
Canyon: Canyon's superstar athletes are at the top of their respective disciplines and bring us enormous attention and brand associations through victories and other brand activations.
TOUR: Robert Kyncl, Chief Business Officer at YouTube, is joining the Canyon Board. How can Canyon benefit from this?
Canyon: Robert brings a wealth of expertise in digital marketing, as he currently works as Chief Business Officer at YouTube and previously worked as VP Content at Netflix. He is also an avid cyclist and a huge Canyon fan. A great personality who will add real value to the Canyon board.
Numerous top athletes on the road on Canyon bikes
The German company is one of the largest bicycle manufacturers in the world and is also heavily involved in sports sponsorship. Triathlon star Jan Frodeno, Mathieu van der Poel or Fabio Wibmer are the most prominent names travelling with Canyon bikes.
In addition, Annemiek van Vleuten from Team Movistar was the most recent winner on a Canyon bike the first edition of the women's Tour de France. By the end of the eighth and final stage, the Dutchwoman had opened up a lead of almost four minutes over her compatriot Demi Vollering.
