French equipment manufacturer Mavic, famous for its bicycle wheels, will close a factory and lay off workers

Mavic, known and recognized in the industry for its road and mountain bike tires, was known to already be in difficulty in 2020. It was at the commercial court that the current shareholder, the Bourrelier group, took over the high-end company. -Savoyard.

Coming out of the Covid-19 pandemic, Mavic benefited from a particularly dynamic bicycle market. Jean-Michel Bourrelier, general manager of the eponymous group, decided to defend the Made in France by maintaining production sites in France

A turnover at half mast

The manufacturer of bicycle wheels saw its turnover decline, gradually decreasing. According to information relayed by The Informedturnover, which reached 130 million euros in 2015, fell to 50.3 million euros in 2022, then to 42.6 million in 2023.

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This drop in activity wiped out the meager profit of 288,000 euros, leaving room for a deficit of 13 million euros in 2023, with a forecast of 10 million euros in losses for 2024. Faced with such a drop in regime, Mavic must change gear and make savings.

Bad news: Mavic will close a factory in France

The consequence of this poor financial shape is the need to close a factory to save money. Unfortunately, it is the Saint-Trivier-sur-Moignans site, in Ain, that Mavic has chosen to close.

The French manufacturer is preparing to lay off between 25 and 30 jobs out of the 110 currently counted in France.

In this event, Mavic manages to keep its headquarters in Chavanod, near Annecy, a workshop where the manufacturer still manufactures certain carbon wheels, including the emblematic Mavic Cosmic Ultimate.

According to information published by our colleagues at Cycling TransitionMavic will continue the production of products from the Saint-Trivier-sur-Moignans factory at its subcontractor in Romania.

Mavic is therefore up against the wall, like a cyclist having to attack a non-category pass in a rush. General manager Alberto Morgando, recently appointed last March, must find a way to get Mavic back into shape. This salvation could come through an ambitious electric motor project for bicycles.

However, Mavic is not the only French bicycle manufacturer to experience difficulties. Cycleurope (Gitane and Peugeot), on the verge of bankruptcy, was bought by Rebirth. Last March, we learned that the Dutch group Accell, owner of Lapierre, was in debt to the tune of 1.2 billion euros, before the debt was reduced by 40% after an investment of 600 million euros. euros from its main shareholder.