A “20% off website extensive” banner on prime of an organization’s web site ought to usually be trigger for glee amongst clients. Besides in the event you’re a fan of that firm’s merchandise and its executives stay silent amid mounting indicators that mentioned firm could be on the point of chapter.
That’s what’s taking place for Juiced Bikes, the San Diego, California-based maker of e-bikes.
In accordance with quite a few customer reports, Juiced Bikes has utterly stopped responding to buyer inquiries for a while, whereas its web site is out of stock on all merchandise. There are additionally quite a few testimonies of lay-offs on the firm.
Much more worrying indicators are additionally piling up: The corporate’s belongings, together with its present stock of merchandise, is showing as listed for sale on an public sale web site utilized by corporations that exit of enterprise.
As well as, a court case has been filed in New York in opposition to dad or mum firm Juiced Inc., and Juiced Bike founder Tora Harris, in line with Trellis, a state trial courtroom authorized analysis platform.
Based in 2009 by Harris, a US high-jump Olympian, Juiced Bikes was one of many early pioneers of the direct-to-consumer ebike manufacturers within the U.S. market.
The corporate’s e-bikes developed a loyal fandom via the years. Final 12 months, Digital Tendencies named the Juiced Bikes Scorpion X2 as the perfect moped-style e-bike for 2023, citing its versatility, wealthy function set, and efficiency.
The corporate has to date stayed silent amid all of the experiences. However ought to its chapter be confirmed, it might legitimately be attributed to the post-pandemic whiplash skilled by the e-bike business over the previous few years.
The Covid-19 pandemic had led to an enormous spike in demand for e-bikes simply as provide chains grew to become closely constrained. This led to a ramp-up of e-bike manufacturing to match the excessive demand. However when client demand dropped after the pandemic, e-bike makers have been left with giant inventory surpluses.
The excellent news is that the downturn part may quickly be over simply because the business is experiencing a wave of mergers and acquisitions, in line with a report by Houlihan Lokey.
This will likely imply that even when Juiced Bikes is certainly going beneath, the model and its merchandise may discover a purchaser and present up once more on streets and trails.
