Storck 2022 financial reporting confirms third year of growth

Storck General Managers Dr. Todor Lohwasser and Markus Storck have announced the brands 2022 financials, highlighting the strong growth of the family-owned company Storck across the fiscal year.

With a record growth of 117.5 percent in the previous year, the business was able to further expand and recorded another increase of 64.5 percent in sales in 2022. The directors attribute the performance to the steady development of the product substance in the previous year, along with investments in the right strategies.

The growth strategy continues to focus on investing in increasing product inventory, with Dr. Todor Lohwasser identifying that the company is, thanks to the creation of new jobs in all departments, excellently positioned for the future: “It is great to see how everyone is pulling together and taking the company to new successes. With creative ideas, we are moving the company forward together.”

The relocation of the Munich store to a central location in the city centre ensured a particularly strong increase in sales. Sales at the new location more than doubled compared to the previous year.

The conversion of the business model to “direct-to-consumer” around 4 years ago is now bringing results, particularly in difficult economic times. “The transformation was the best decision I ever made in my career, because our pricing means we don’t have to get involved in price wars,” emphasizes Markus Storck.

In addition to the successful expansion in its own stationary sales, Storck announced its new cooperation with Bike & Outdoor Company (B.O.C.) a few months ago. This cooperation allows customers access to the awarded service network of B.O.C. in Germany. This partnership also enables the brand to introduce products into the entry-level segment, enabling the development of new customer groups.

On the product side, 2022 had a lot on offer. The digitally connected Cyklær eBike, presented in 2021, in cooperation with Porsche Digital, showed its first successes last year. Deliveries to customers were successfully started. With the vision of creating an eBike that is not only stylish, but also functional and safe and meets the needs of users, the company is working closely with customers who seek out and appreciate technical innovation, paired with high quality engineering, to offer an integrated and enhanced riding experience. The brand comments that, ‘demand for Cyklær eBike Gravel and Urban models remains high.’

In addition, Storck is strengthening its presence in the field of e-mobility and transferred the brand e:RADDAR into a new chapter, which was already founded in 2010 . With the 2 e-bikes e:RADDAR erde.1 and erde.2, STORCK positioned itself in a more affordable price segment in the trekking and urban segment just in time for Eurobike 2022. The erde.1 and erde.2 models are manufactured from the highest quality aluminium in a complex process and, with their own e:RADDAR motor concept, have already impressed in initial product tests.

With the 5 winner awards at the prestigious German Design Award for the Aerfast.4, GRIX.2, e:drenalin.2 SRS, e:RADDAR erde.1 and e:RADDAR erde.2 models, Markus Storck took the total number of design awards to 100, which, with 21 awards in the past 12 months, now stands at 107.

For the current year, Storck promises a further model offensive with a focus on the e-mobility segment.

Despite the increasing share of e-mobility, the bestsellers are in the road and gravel segments, as in the previous year. The aero road bike Aerfast.4 and the gravel bike GRIX.2 are the best-selling bikes and confirm that the new models with their colourful appearance have been extremely well received.

Storck continues to expand its product range, now with its own wheel brand “Zeitjaeger” bringing the years of experience and expertise in lightweight component manufacturing to a new segment and audience.