Bicycle market returning to normal

The bicycle market is gradually returning to normal after demand surged during the pandemic and then declined. The largest domestic manufacturer, Kellys (Michal Divinec), reduced its loss by 73% to €1.2m last year following a 6% decline in revenue to €42.7m. It resolved its cash flow issues a month ago with a €1.3m loan through the Crowdberry platform, paying 9.8% interest p.a. Online retailer MTBiker (Tomáš Červenka) increased domestic revenue by 30% to €24m last year, and revenue for the entire group, including foreign branches, was €30m.

(forbes.sk)