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Felt forms Canadian subsidiary

Published October 18, 2012

IRVINE, CA (BRAIN) — Felt has formed a wholly owned subsidiary in Canada, and signed a multi-year contract with its former distributor there, Spaso Sports, to be the exclusive sales and marketing agent in that territory.

The model is one Felt has already set up in Germany, Spain and the U.K., and allows the company to be more competitive on pricing in the Canadian market, said Michael Forte, Felt’s director of operations.

Felt Canada, which is run within Felt’s U.S. headquarters in Irvine, California, will be responsible for importing bikes into Canada while Spaso will handle sales, marketing, customer service, warehousing and distribution. Spaso will continue to handle distribution for other non-competing brands in Canada.

“We have been working on this new arrangement for several months with Felt,” said Bruno Warnotte, president of the Montréal-based Spaso Sports. “We believe it is in the mutual best interest of both parties, and will contribute greatly to grow the Felt Bicycles brand in Canada. As a stand alone distributor, we lacked the synergies needed to fully take advantage of the brand power Felt enjoys in the USA, and in core European countries.”

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