The Business of Cycling

If you've ridden a mountain bike in the last 25 years, chances are you've rolled on Kenda — whether you knew it or not. The Taiwanese tire maker produces close to 70% of the aftermarket tubes sold in the US. This week I'm joined by Eric Yang, VP of Business Development at Kenda USA and grandson of the company's founder. Born and raised in Ohio after his father moved to open Kenda's US headquarters...

Nikki Hawyes is one of the most private-equity-experienced executives in cycling. Across three PE-backed businesses—Fisher, Zyro Fisher, and now Whyte Bikes—she's lived through every phase of the cycle: rapid growth, near-administration crisis, secondary buyouts, and exits. In this episode she shares a refreshingly candid view of what actually works when private equity meets the bike business: why...

Joe Benedict, Vice President of Category Management at Quality Bicycle Products (QBP), pulls back the curtain on America's largest cycling distributor. With 5,500 retailers served nationwide and over 45,000 products in their portfolio, QBP sits at the center of the US cycling supply chain — yet remains largely invisible to the outside world.  Joe breaks down how QBP actually operates, from their c...

Recorded live at Performance Days 2026 in Munich, this panel brought together three of the most influential ingredient brands in performance apparel — Polartec (Eric Yung), Elastic Interface (Gianluca Pellicciari), and Polygiene (Eva Doll) — alongside the design leads at Albion (Graham Raeburn) and Santini (Fergus Niland) to unpack a relationship the cycling industry rarely talks about openly: the...

In this episode, Sam Nicols returns to The Business of Cycling to break down one of the most consequential — and arguably under-reported — stories in the industry right now: the unraveling of Accell. Sam, who serves on the board of Propain Bikes and previously led YT Industries through the post-COVID downturn, brings a rare combination of operator experience and acquisition insight to the conversa...

Herrmans Bike Components is a 67-year-old Finnish manufacturer most cyclists have never heard of — even though their grips, lights, and rim tape are quietly riding on bikes across Europe. Built on decades of OEM work for some of the biggest e-bike brands, Hermans operates a highly automated factory on Finland's west coast that competes head-on with Asian suppliers on price, lead time, and service....

Hugo Davidson didn't set out to build a bike accessories brand. Trained as an industrial designer in Melbourne, he spent years contracting at London design firms before co-founding his own consultancy back in Australia. Then came the dot-com crash — a failed retail technology startup (one that held the iPod trademark before Apple), $2 million in debt, and a stark question: what now? The answer cam...

Danny Segers has spent 18 years quietly building Bioracer into one of Europe's largest custom cycling apparel manufacturers, growing the Belgian company from €7 million to €35 million in revenue, with 85% of the business focused on custom team wear. With a background in finance and auditing, Danny brings a distinctly analytical lens to the cycling industry, one that favors sustainable reinvestment...

The bike world is arguing about 32-inch wheels. Is it a physics-backed leap forward, or is it the industry's latest attempt to move units during a tough cycle? Joshua Riddle has a unique vantage point. He's Marketing Director at Hayes Bicycle Group — Hayes Brakes, Manitou Suspension, Reynolds Wheels — and his team is already riding prototypes. Today we talk about what makes innovations stick, what...

Eric Yung has spent nearly two decades at Polartec doing one thing exceptionally well — and that's exactly the point. As Managing Director and VP of Sales and Marketing at Polartec (a Milliken company), Eric pulls back the curtain on what it actually takes to build a premium ingredient brand over the long haul. The answer isn't growth at all costs. It's ruthless focus, selective partnerships, and...

In this episode, we sit down with Philip Ferger, the newly appointed Managing Director of Fairnamic — the company behind Eurobike — just four weeks into his role. Philip brings over 20 years of experience at Messe Frankfurt, co-owner of FairNamic, and joins at a critical moment for the cycling industry's most important trade show.  The conversation covers what's actually changing at Eurobike and w...

The business of professional cycling has never been more complex — or more expensive. Team budgets are exploding, rider time is increasingly scarce, and brands are being asked to spend more while getting less access in return. Meanwhile, gravel is professionalizing fast, and Asian brands are quietly reshaping who supplies the peloton. In this episode, I sit down with sports marketing consultant Ni...

HEXLOX founder Marcus Tonndorf spent years studying design in London and earning an MBA in Berlin, working at Pentagram on brands like Citibank, launching a failed publishing house in Japan, and even getting his illustrations into millions of Kinder Eggs. By 2015, he'd figured out what he didn't want to do—now he just needed the right product. So he walked into Eurobike with no company and no prot...

Sam Nichols brings a rare perspective to the cycling industry—he's an outsider who became an insider during the most turbulent period in recent memory. After a decade at Amazon and strategic consulting at Bain, Sam took the CEO role at YT Industries in November 2020, just as private equity was flooding into cycling. In this conversation, we cut through the noise around private equity in our indust...

CEO at Rali Systems and Contributor at VitalMTB, Jeff Brines introduces his "barbell hypothesis". In the conversation we discuss how the cycling market is splitting into two thriving extremes while the middle hollows out. Bikes under $4,000 and premium builds above $15,000 are selling well, but the $6,000-8,000 sweet spot is disappearing. He attributes this to slowing technological progress (dimin...

Claire Deschamps is the CMO of Assos, and she brings a refreshing outsider's perspective to the cycling world. After spending a decade at consumer goods giants like Unilever and Colgate, this French marketing exec—who's called Mexico, Rome, and now Switzerland home—joined Assos nearly three years ago to help the premium apparel brand navigate a rapidly shifting landscape. In our conversation, Clai...

In an industry dominated by legacy brands, Quoc Pham took an unconventional path to building Quoc, one of cycling's most distinctive footwear companies. A Vietnamese refugee who arrived in the UK at the age of eight, Quoc traded formulas and maths for fashion design, eventually graduating from Central Saint Martin's College. Four years of running a menswear brand label taught him the harsh realiti...

If you have logged onto LinkedIn anytime in the last year, chances are you already know Juansi Vivo. Juansi has become one of the most candid—and provocative—voices in our feed, posting daily critiques that challenge how we do business. Before he was a digital thought leader, Juansi was a project manager in Spanish academia with a secure job for life. In this episode, we talk about the personal tr...

Alberto Fonte is an Italian entrepreneur building cycling footwear brand Udog from scratch. After nine years growing Fizik at Selle Royal as brand director, he now faces the ultimate challenge: competing against industry giants without corporate resources. In this candid discussion, Alberto shares the realities of cash flow constraints, supply chain disruptions, and why creating distinctive produc...

Over the past 15 years, Rapha has fundamentally shaped the look and feel of modern cycling, essentially upending the entire apparel industry. Fran stepped in just over a year ago to lead the company through its next chapter, navigating the challenging cycling apparel landscape with a brand that is searching for its idendity. Fran's journey is remarkable—from managing her brother, pro cyclist David...

Derek Bouchard Hall went from pro cyclist to CEO of POC, with stops at Wiggle, USA Cycling, and Assos along the way. He's got some really interesting perspectives on what makes premium brands work in cycling—the importance of staying consistent, letting your design team do their thing, and not trying to be everything to everyone. It's a great conversation about building brands that cyclists actual...

On the heels of his recently announced retirement, I interviewed Ermanno Leonardi, the managing director of the Italian subsidiary of Specialized Bicycle Components, a role he has held for 36 years. He will be stepping down on October 1st. When I recorded this interview, I didn't know he would be stepping down from his role. He's not leaving the company—he's just stepping back and taking on a diff...

Graeme Raeburn brings a rare perspective to cycling apparel design. As Rapha's lead designer from 2008-2018, he witnessed the brand's explosive growth from a single room to industry dominance. Now leading design at sustainable British brand Albion, Graeme applies fashion training through an industrial design lens. This conversation explores how commercial reality shapes product decisions, the crit...

The Eurobike 2025 panel explores branding in the cycling industry, featuring Gerard Vroomen founder and Entrepeneur, Greg Shapleigh Brand Strategy Consultant, Justin Day Founder and Creative Director and Ricky Buckelei Marketing Manager. This is a rare opportunity to get real insights from a series of experts in the cycling industry on branding.  The panel underscores that successful branding in c...

Gerard Vroomen is best known as the founder of Cervelo. This is the second time Gerard has been on the show, and this time around we talk about his new investment fund, Fundracer. Fundracer specializes in micro-mobility startups, and he started the fund just over a year ago with his partners, Rene Wiertz, who is the former owner and CEO of 3T, and Andy Ording, who was the former CEO and the founde...