Pinarello Holding is planning to further develop its line of apparel and accessories and to continue its international expansion, opening single-brand stores around the world, following an investment in the Italian producer of high-end road bikes by the European and North American units of L Catterton. Fausto Pinarelli will continue as chief executive of Cicli Pinarello, keeping a significant minority stake in the operation.
As previously reported, Pinarello made a turnover of €52 million in the past year. It produces 30,000 bikes and frames annually and spends 4 percent of sales on research and development. It has been growing at a double-digit rate in the last ten years.
L Catterton is a joint venture created earlier this year by the Catterton investment fund, the LVMH luxury goods group and Groupe Arnault, the investment vehicle of Bernard Arnault and his family. Observers see the new owners building up the Pinarello brand up to a level similar to Ferrari's.
