VanMoof really does have a great image. The Dutch company is a pioneer in the development of smart and clean e-bikes. Since the first generation, VanMoof models have been called the “iPhones of e-bikes”. The big marketing machine also surprises fans of the brand over and over again with creative ideas and emotionally charged progressive videos. But now a different picture is emerging: The VanMoof is not doing as well financially as its clean e-bikes and manufacturer’s image would suggest.
VanMoof reportedly faced bankruptcy at the end of 2022
Shortly before the start of the year, German e-bike maker Nabibe wasn’t the only one experiencing major financial troubles. In the neighboring country, too, the accountants were sweating. VanMoof, one of the most popular e-bike manufacturers, seems to be on the brink of collapse.
As reported by Financleele Dagblad, VanMoof is in dire need of new cash injections. Otherwise, “doubts may arise about the company’s ability to continue its activities beyond the first quarter of 2023,” according to the latest management report. The company’s auditor reportedly refused to sign the preliminary financial statements because VanMoof’s future was so uncertain.
VanMoof suffers from recoil
VanMoof previously required suppliers to allow them to pay invoices later. According to Financleele Dagblad, the main reason for the financial hardship is the quality of the e-bikes: these bikes often break down, and VanMoof is said to have already paid €8 million for warranty claims in 2021.
In addition, there is pressure from VanMoof’s explosive growth and financial losses. In general, difficulties with delivery and sales are currently giving European manufacturers a severe headache. This was also one of the reasons the manufacturer Nabibi eventually filed for bankruptcy.
The company is reorganizing structures
While VanMoof introduced one new product after another during the boom in the e-bike market and entertained us with impressive fight videos, lately the company has gotten quieter and quieter. The long-awaited S-Pedelec VanMoof V is finally here, and the Dutch are also reluctant to introduce new models.
There have also been major changes behind the scenes: The Carlier brothers, who founded VanMoof, have handed over the operational business to Gillian Tans, former CEO of Booking.com, and focused on innovation and strategy.
VanMoof’s bankruptcy has been avoided for the time being
While VanMoof isn’t in the black, it has already found the investors it needs to keep the business going. After all, there is no bigger name in the e-bike space for sleek and smart city e-bikes. But other manufacturers also know how to offer attractive e-bikes to the right audience. Another reason for VanMoof’s problems could also be increasing pressure from the competition. Because e-bikes like the Tenways CGO600, Eleglide Citycrosser, or Rad Power Bikes Radmission also offer good quality, sometimes at a lower price. However, these e-bikes just show off the smart features that make VanMoof somewhat unique.
But unique bikes aren’t everything. VanMoof also has to control operational difficulties to stay with us. Because one thing is for sure: without the development drive and progressive marketing methods of the manufacturer, there would be a huge hole in the e-bike world. By the way, anyone who wants to give the company a little financial support can currently save a lot: the VanMoof S3 model is currently available in store with coupon code “SAVE500” for 1,998 euros. Nothing has changed on the e-bike itself either: it remains a leader in the field of savvy urban commuters.
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