Top-end brand above industry troubles as Colnago's growth continues in 2023

Italian bike brand Colnago reported sales of €55.7 million in 2023, an increase on 2022, a continuation of the steady growth the brand has seen for the past three years. Colnago's profit was around $15 million, showing that the company is thriving despite industry troubles.

Annual turnover has tripled since the brand was acquired by Abu Dhabi-based Chimera Investments LLC in 2020. In a recent statement about the brand's growth, CEO Nicola Rosin described Colnago as "a well-organised company, with capable managers and a great sense of belonging".

Charismatic star Tadej Pogačar, who has ridden a Colnago with UAE Team Emirates since 2019, has played a significant role in the brand's growth too. Pogačar and the UAE Team Emirates squad have ridden Colnagos to victory in the Tour de France in 2020 and 2021, plus countless other wins.

Rosin highlighted the positive input that Colnago receives from the pro peloton, both from the men's UAE Team Emirates and the women's UAE Team ADQ:

"The opportunity to have two great teams in the WorldTour, both male and female, UAE Team Emirates and UAE Team ADQ, raises the level of their demands and stimulates us daily to improve our product,” said Rosin.

Colnago's record turnover seems impressive given the dire state of the industry last year. 2023 saw many brands, including the world's biggest bike retailer Wiggle CRC, enter administration or liquidation, with job losses across the industry.

Colnago's success is consistent with the sentiment across top-end brands, many of whom have reported being largely unaffected by the industry issues.

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