VanMoof, the flashy e-bike startup that skidded into bankruptcy this summer, has gotten back on its own bike, so to speak
, has acquired the business out of administration. The company plans to invest in the brand and relaunch the business, it said. That will include providing services to VanMoof's existing customers, from the looks of it.of e-bikes, smart technology, innovative design, and loyal customer base, VanMoof and Lavoie fit together perfectly," said Eliott Wertheimer, Lavoie CEO, in a statement.
But despite the great look, the e-bikes often turned out to be riddled with problems and it proved to be tedious, and expensive, to repair them — both for owners and VanMoof itself, which was losing money on every bike it sold because of the glitches and subsequent servicing burden. One in every 10 bikes was being sent back by customers, and in 2021 repairs cost VanMoof nearly $9 million . That dire business model, combined with the current climate for fundraising, meant that the startup couldn't find suitable financing.
When VanMoof went bankrupt earlier in the year, it left a string of supply partners, its own retail operations, and customers with bikes on order and/or being repaired, all hanging in the wind. We have reached out to Lavoie to ask what the company's plans are for its retail and servicing operations, which would potentially also cover older VanMoof models, too. This article fromLondon-based Lavoie comes from very different stock. The business is a division of
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