Groupe Bruxelles Looks to Capitalize on Growing U.S. Bike Market Related Stories February 3, 2021 November 23, 2020 November 5, 2020 Canyon Bicycles GmbH. As a result, TSG Consumer Partners is exiting its stake. Outdoor activities such as bike riding have become very popular during the pandemic, and demand for those products have surged. “Canyon has long been a lone pioneer in the cycling market for the past 20 years as the only significant direct-to-consumer player while most competitors dismissed DTC in favor of independent wholesale distribution,” says Blythe Jack, managing director, TSG Consumer Partners. “Canyon’s world class product range and its DTC strategy has been a powerful combination as revealed during the global pandemic as demand for premium cycling products delivered via e-commerce has boomed. As a result of Canyon’s unique ability to meet the consumer with the product they want in the channel they prefer, the company has been well positioned to take meaningful market share gains and further drive brand equity. Finally, while Canyon’s value proposition to consumers is certainly compelling, perhaps the bigger unlock is the way in which a DTC model makes the cycling industry a much more attractive one to investors by virtue of owning the invaluable relationship with the consumer and proprietary distribution.”