Signa Sports United CEO says its cycle biz “four fold” nearest competitor

Signa Sports United, the parent to WiggleCRC since a blank cheque buyout in June, has gone public on the New York Stock Exchange with the ticker symbol SSU.

According to the CEO, the online cycling arm is now “four times larger” than the nearest competitor, making it by far the world’s largest online bike platform.

Not only that, Signa Sports United is a multi-sport giant in Europe with over 7 million regularly active customers browsing its portfolio of sporting brands, covering activities ranging tennis, camping and many other sports. Cycling counts for 63% of the group’s total sales. 67% of its sales stem from Europe and a further 19% from the UK.

Signa Sports United’ Chief Executive Officer Stephan Zoll, said, “This transaction is a milestone event for SIGNA Sports United, providing capital to bolster our position in the rapidly growing sports e-commerce & technology space and continue our expansion in Europe as well as into the United States. SSU is committed to a strategy of long-term value creation, and we are pleased to begin our journey as a public company to unlock the full potential of our platform and infrastructure.

“The acquisition of WiggleCRC is a huge strategic achievement for us, strongly complementing our geographic footprint and providing various synergies in the bike category. We are delighted to welcome the Wiggle Chain Reaction Cycles team to our group and are looking forward to mutually expand our position as the leading global bike online platform.”

Signa Sports United has comfortably over 1,000 brand partners and a network of over 500 stores in Europe, adding a physical presence. 200 Million visitors browse the network of websites annually at present. Brands outside of WiggleCRC include fahrrad.de, Bikester, CAMPZ, addnature, Tennis-Point, Outfitter and Stylefile.

Signa has eyes trained in particular on the mega trends of cycling for transport an electric bikes, as well as the lower base the USA is building from when compared to Europe on such things.

Sky News carries an insightful interview on the future strategy with Stephan Zoll here.