After Misjudging Market, Connected Bike Maker Vanhawks Has Been Resurrected with a New Approach

Vanhawks, maker of Valour, the world’s first smart carbon fiber bicycle, has resurrected itself with a new marketing plan after coming close to shuttering earlier this year.The Montreal-born company, which was a sensation on crowdfunding platform Kickstarter in 2014 before falling into financial difficulties, says its plan includes a hybrid sales model with both online and in-store sales. It’s a change in direction from its online-only sales model that promised to disrupt the bike industry. The now Toronto-based Vanhawks also says it has lined up promising partnerships in the bike industry to help influence sales of its product, which is a $1,500 USD bike that can be connected to smartphones via bluetooth and track rider statistics, such as route and speed, in real-time.“My whole effort for the last few months has been around partnerships, as opposed to throwing money at solving problems,” Sohaib Zahid, cofounder and CEO of Vanhawks, said in an interview on Tuesday. “I have solved it by forming partnerships with people I think will help and believe will put us back on track.”He won’t yet name the partners, or the dealers readying to sell the bikes in the U.S. and Canada, but said Vanhawks is “gearing up for 2017.”Vanhawks was founded with a mission to shakeup the bike industry, including the product and how they’re sold. Like many other new consumer company startups, they launched with the idea of online sales only. Since then, Zahid says they realized the bike industry may not be in need of massive disruption after all.“Along the way we realized, there are a lot of good things the industry does. You can’t just throw away the whole book they wrote over the last 60, 70 or 80 years. There’s some great chapters in there that you can always use,” says Zahid. “It’s going back to basics.”

Source: After Misjudging Market, Connected Bike Maker Vanhawks Has Been Resurrected with a New Approach – Techvibes

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