The bike industry faces significant challenges, exemplified by Revel Bikes' unexpected closure despite recent launches and apparent momentum. After being sold to a private equity firm in 2021, Revel struggled with high overhead and inventory while trying to adhere to a growth-focused model that conflicted with its original brand values. Founder Adam Miller was blindsided by the closure announcement and expressed a readiness to step back in, emphasizing the emotional impact on the community and revealing his disappointment over the company's shift in direction under new ownership.
The private equity firm had a very different vision for Revel than I did. They helped us by making heavy investments... But they also pursued an aggressive growth-at-all-costs model that didn't align with the DNA of the brand.
When I left a year ago, I thought and hoped Revel would live on and continue to thrive, but that didn't happen.
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