Stromer Achieves Sustainable Growth in 2023, Despite Cycling Industry Headwinds

February 22, 2024

Against the prevailing challenges in the bicycle industry, the current financial year has been profitable for myStromer AG, which achieved consolidated growth of over 10 percent.

Oberwangen, Switzerland (22 February 2024) – OUTDOOR SPORTSWIRE – Despite overall stagnant or declining markets in Europe, myStromer AG, the parent company of the two premium e-bike brands Stromer and Desiknio, was able to buck the general trend and continue to expand its market shares in the Netherlands and Belgium, and secure its market leadership. In the challenging e-bike market in the United States, the company achieved double-digit growth.

The company is also preparing itself for growth by strengthening its internal development skills: The number of employees has risen globally to a total of 180 people. A majority of the personnel growth is accounted for by the 25-strong digital hub in Cluj-Napoca, Romania, which is responsible for promoting new developments in the area of the “digital experience”.

Highlights of 2023 included the introduction of the first drivable prototype with a solid- state ceramic battery for e-bikes at the IAA mobility trade fair as well as the multi-year collaboration with Alinghi Red Bull Racing and the successful launch of two Alinghi Red Bull Racing Special Edition Stromer models.

With more than 109 million commuter kilometers (67 million miles) traveled with Stromer bikes, the connected Stromer Community was able to save more than twenty thousand metric tons of CO2, which is the equivalent of more than ten thousand round trip flights from London to New York. A substantial contribution to a more sustainable mobility future.

“The bicycle industry had a much harder time last year than in the boom years during and after the coronavirus. That just amplifies our excitement about the growth we achieved in our core markets. And at this time in particular it is essential that we continue to invest in innovation and growth to improve our market position,” states Co-CEO Dr. Karl Ludwig Kley.

Forecast 2024

The coming year will also be an exciting one: myStromer will be presenting a new category of Stromer bikes at the Eurobike 2024 and will unveil further innovations in the course of the year. Continuing to promote the mobility transformation remains the primary goal of Stromer for the coming year. But 2024 will also be marked by innovation development and the expansion of innovation leadership.

Co-CEO Tomi Viiala is confident: “2024 will remain a difficult year for the industry—and yet we have a positive outlook for the new year. We will surprise the market with a number of innovations. We also believe that the emerging mobility transformation will have a positive effect on the e-bike and S-Pedelec market. We are promoting this transformation with financing solutions and leasing offers and corresponding products that make traffic easier in your day-to-day life.”

Additional images, logos, and videos are available in the Stromer Media Center.

About Stromer

Founded in 2010 and based in Oberwangen, Switzerland, Stromer is shaping the future of mobility with its Speed Pedelecs. myStromer AG produces all of its e-bikes at the Oberwangen site and is the market leader in the Speed Pedelec category (fast e-bikes up to 28 mph). The company employs around 180 people, has three subsidiaries (USA, Netherlands, and Romania) and sells its S-Pedelecs in 25 countries. “Swissness” is Stromer’s promise of quality, design, precision, reliability, and respect for the environment. Since 2021, the Spanish brand Desiknio has enhanced the product range with high-quality urban bikes (up to 20 mph). With its premium e-bikes and accessories, Stromer offers commuters a contemporary mobility solution. This can be confirmed by the 280 million miles traveled on Stromers. Stromer is #HereToChange. For more information visit stromerbike.com.

North American Media Contact
Hayden Carpenter
Press Forward
hc@pressforward.agency