December 7, 2023 - Pierer Mobility has announced that the company is in the process of selling its Felt bicycle brand to a consortium led by Florian Burguet, who is currently the Managing Director KTM Canada, and will step down from the Management Board of PIERER Mobility AG at the end of December.
The move follows the sale of the Raymon brand as well as Pierer Mobility looks to divest itself of the non-e-bike division. The focus will now be on its core powered two-wheel business (motorcycles and e-bicycles) and its premium brands KTM, GASGAS and Husqvarna as well as MVAgusta.
Felt dates back to the early 90s and was launched as its own brand in 2001 led by Jim Felt. Rossignol Group acquired the company in 2017 which was then sold to Pierer Group in late 2021.
Pierer Mobility will restructure internally under two segments “Motorcycles” and “E-Mobility” which will include all electrically powered two-wheel products such as e-motorcycles, e-minis and stand-up scooters.
The company expects the “global economic environment” in 2024 to be difficult as it consolidates to strengthen its core business.
