Trek dumps LeMond
04-08-08, 09:22 AM
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Trek dumps LeMond
WATERLOO, Wis. (AP) -- Best-selling bicycle maker Trek Bicycle Corp. is severing its ties with three-time Tour de France winner Greg LeMond.
Company president John Burke says there has been a "troubling pattern of inconsistent business dealings."
Trek has licensed the LeMond brand name since 1995 and made road bikes under that name.
Burke says Trek has filed a lawsuit in federal court in Madison to sever the ties.
Trek is known among cyclists for making the bikes that Lance Armstrong rode in his Tour de France victories. With brands like Trek, Gary Fisher, Klein and Greg LeMond, Trek sells 1.5 million bikes a year and does $700 million in sales.
LeMond became the first American to win the Tour de France in 1986.
Company president John Burke says there has been a "troubling pattern of inconsistent business dealings."
Trek has licensed the LeMond brand name since 1995 and made road bikes under that name.
Burke says Trek has filed a lawsuit in federal court in Madison to sever the ties.
Trek is known among cyclists for making the bikes that Lance Armstrong rode in his Tour de France victories. With brands like Trek, Gary Fisher, Klein and Greg LeMond, Trek sells 1.5 million bikes a year and does $700 million in sales.
LeMond became the first American to win the Tour de France in 1986.
04-08-08, 09:31 AM
#7
Just call me Chris
04-08-08, 09:37 AM
#10
Throw the stick!!!!
So when are Armstrong bikes coming out?
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04-08-08, 09:38 AM
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No big surprise. He came to the carbon game too late and sales aren't great. I've owned two Lemonds and they were great bikes, but there just isn't anything exciting about the brand.
04-08-08, 09:54 AM
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If the comments attributed to Burke in Velonews ("Despite our repeated efforts to persuade Greg to focus on selling his bikes, he continued his personal attacks") are correct, it is definitely not the normal innocuous "it was time for a change" statement that usually accompanies these announcements.
It also stated that Lemond had failed to find a new partner, so I don't know about the brand being continued (well, until BikeDirect buys the rights...).
It also stated that Lemond had failed to find a new partner, so I don't know about the brand being continued (well, until BikeDirect buys the rights...).
04-08-08, 09:55 AM
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I guess this means future LeMonds will no longer be equipped with Bontrager components. (That's not necessarily a bad thing).
04-08-08, 10:03 AM
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The Trek/Lemond relationship has been on the rocks for a while and I've been hearing rumors of a split for the last couple of years. This sounds pretty bad, though. The "inconsistent business dealings" talk sounds like Trek's working on a lawsuit.
I think this is a good thing for Trek. The Lemond line is stagnating, the name itself doesn't carry the kind of marketing value it did ten years ago, and GL himself doesn't seem too eager to be a bike salesman. Time to cut the brand loose.
It's doubtful that Bikesdirect will be able to pony up the coin to buy the brand, but I wouldn't be surprised if a big player like Pacific does. They might have better luck selling higher-end Lemonds than they've had selling higher-end GTs and Schwinns.
I think this is a good thing for Trek. The Lemond line is stagnating, the name itself doesn't carry the kind of marketing value it did ten years ago, and GL himself doesn't seem too eager to be a bike salesman. Time to cut the brand loose.
It's doubtful that Bikesdirect will be able to pony up the coin to buy the brand, but I wouldn't be surprised if a big player like Pacific does. They might have better luck selling higher-end Lemonds than they've had selling higher-end GTs and Schwinns.
04-08-08, 10:07 AM
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Maybe they just didn't want to leave all the fun to ASO and UCI....
04-08-08, 10:24 AM
#18
Burning Matches.
04-08-08, 10:26 AM
#19
Burning Matches.
04-08-08, 10:29 AM
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What does this do to the value of Rad's Tete?
Will this help get if painted quicker?
Armstrong opened a shop in Austin, wonder what self named
brand he is going to carry?
Will this help get if painted quicker?
Armstrong opened a shop in Austin, wonder what self named
brand he is going to carry?
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04-08-08, 10:44 AM
#22
Wow, sad. I recall that Greg had a falling out with his Dad for a few years because of similar "business dealings" and now it seems it comes back to Greg.
To defend Lemond, he has the right to speak his mind re: doping, and I guess he figures that's a more important issue than selling a few more road bikes. Too bad his partners disagreed.
To defend Lemond, he has the right to speak his mind re: doping, and I guess he figures that's a more important issue than selling a few more road bikes. Too bad his partners disagreed.
04-08-08, 10:48 AM
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It is fantastic.
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I was thinking about "go back", but I wasn't familiar with the quality of the steel frames, and if they were on par with the higher zoot bikes.
04-08-08, 10:49 AM
#24
Peloton Shelter Dog
