"Earlier this year, Revel Bikes announced that it would be closing. This announcement took many by surprise, but it wasn't surprising at the same time. On the one hand, the brand had just released two new bikes - the ReRun and Ritual - and new colors for the Ranger. On the other hand, it has clearly been challenging times for the mountain bike industry. Brands like Kona and Rocky Mountain, among others, had recently made similar announcements, making Revel's, while disappointing, almost expected."
"But, in a nutshell, what seemed to happen was this: after the brand exploded in 2019, Miller sold the brand to private equity firms. The hope of more capital equalling growth perhaps didn't gel with Revel's core values of creating quality bikes that are a touch different. Plus, there was this crazy pandemic where outdoor recreation exploded, and then fell off. All brands took a hit, but it was especially hard for boutique outfits like Revel."
Revel Bikes closed after a period of rapid growth followed by financial strain and investor-led decisions. The brand had recently introduced the ReRun and Ritual models and new Ranger colors prior to the shutdown. A 2019 sale to private equity created growth expectations that conflicted with Revel's focus on distinctive, high-quality bikes. The COVID-19 pandemic produced a surge then a decline in outdoor recreation, disproportionately affecting boutique brands. Investors chose to cut losses, prompting closure. Founder Adam Miller stepped back in to repurchase the brand and revive design and innovation efforts, including titanium work.
Read at Bikerumor
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