BikeBiz Bicycle and cycling retail news
Orbea continues to show growth as the Spanish bike brand added 170 new roles last year.
On 7th May, Orbea held its Annual Assembly, where it published its latest growth results, revealing that it is now nearing 1,000 employees across the company, 90% of which are based in Europe.
Sales continue to grow for the Mallabia-based bike manufacturer, as it increased sales for the sixth consecutive year, now up to €282 million, 82% of which came from export markets.
Net profit after taxes amounted to €40.7 million , the brand said, which will allow Orbea to complete its planned projects, including investment in manufacturing and logistics capacity, the development of new innovations, and growing the skillset of its workforce.
Orbea also said that 20% of its profits were handed over to charities and social action funds that the company supports.
The brand says it now hopes to continue to capitalise on recent successes, hoping to reach sales volume of €350 million in 2022.
Orbea was crowned Bike Brand of the Year in the 2021 BikeBiz Awards, in part thanks to its innovations in the e-mountain bike market, particularly the new Rise model.
Country manager for the UK and Ireland, Damian Hackett, recently told BikeBiz: “The biggest issue centred around supply chain problems and trying to keep our retailers supplied in such a challenging environment,
“We have possibly adapted better to this new scenario than many brands, as our business model has been developed around the idea of agility in everything. On that topic, what may not have been fully appreciated by the wider industry was that Orbea has been on a dramatic evolution curve for several years prior to any Covid outbreak.”
Earlier this year Orbea was also one of many brands forced to increase its prices as a result of the increasing cost of raw materials and ongoing supply chain issues.
