It’s a fact the bike biz is male dominated. So now is the time to make your gratuitous ‘wang’ joke so we can move on and talk about how clever this grrrlll really is. She’s accomplished something nobody in the bicycle biz has really figured out yet . And that’s successfully executing on a 3 tiered distribution strategy that sells through luxury, mid-priced and discount stores. Ms. Wang is super smart. In business for over 20 years so she’s no flash in the pan and plays in multiple categories from eyewear to bedding to jewelry. And she’s everywhere from high-end luxury stores to Kohls. Which Trek, Speczd, Giant, Schwinn, Cannondale, etc. have never pulled off. Looking at Vera’s approach she seems to be a monomaniac about….. -Planning : develops a well thought out, solid plan and invests in it. -Great product : At all levels. I’ve always said, great product sells anywhere it wants to! -Communicate : Go overboard and talk to trade and consumers alike. Be transparent -Licensing : You must keep tight control over it. Be super anal - Democratization : You can never abandon the high end but creating more affordable, down to earth products is a must nowadays. Granted, Vera sells to a much broader market but one can always hope that the bike biz in the U.S. gets bigger and more popular and more mainstream. So bringing real, trustworthy, solid brand stables across all levels of distribution is possible. P.S. Time for some closing hype….. Join me for "Alien Truth TV" live from the Interbike show floor for a fast and furious 30 minutes of interviews/discussions with the cycling industry's top movers and shakers. Scheduled for 1PM Vegas time on Wednesday 9/22 and Thursday 9/23 each show will feature three back to back 10 minute guest interviews on creativity, product development, marketing and what's coming down the futurist two wheeled pipe. Life on Earth used to be lived 'one day at a time' but with today’s high paced demands Bagni believes you can now only live it 'five minutes at a time' so each guest will discuss the hot and pressing issues for this five minutes of their own business lives. Guests will include Gary Erickson:Clifbar, Steve Flagg/Jason Gaikowski:QBP, Liz Roberts:Terry Bicycles, Andrew Herrick:Crank Bros, Dustin Robertson/John Thomas:Backcountry.com, Karen Brooks : Bicycle Times Magazine
What The Bike Biz Could Learn From Vera
Published September 20, 2010
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