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Veltec Sports Reduces Sidi Retail Prices

Published March 10, 2009

BOULDER, CO (BRAIN)—To kick off the 2009 retail cycling season and provide support to its retailer partners, Veltec Sports will offer its Sidi cycling shoe collection at a reduced price.

The price reduction impacts all new 2009 and carry-over styles of Sidi cycling shoes at both the wholesale and retail levels. The retail price on all Sidi models has been lowered by 8 to 15 percent. Genius 6.6 Carbon road shoes are now priced at $449.99, bringing the top models under the $500 psychological ceiling.

The European handmade shoes have seen price increases due to significant increases in the euro. From 2002 until the start of the 2009 season, the euro has increased by 88 percent. As a testament to the strength of the Sidi brand, Sidi sales volume has more than doubled in that same period in the United States.

“Now that there is some renewed confidence in the U.S. dollar we are passing the benefits of a lower euro on to the consumer and retailers,” said Manfred Krikke, chief executive officer of Veltec Sports. “The price reduction is intended to stimulate sell-through and to support our bicycle retailer partners during a tough economy.”

Veltec has been working with Sidi for more than 30 years and some of the shoes are made especially for American consumers. Even though Veltec does not immediately benefit from the currently lower euro, it anticipates lower prices next year and wants to pass on the savings for the remainder of the 2009 selling season to retailers and consumers.

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