It's really sad to hear the news. I've dealt with Serotta for a very long time. I'm a Serotta-trained fitter. Loved their bikes. Enjoyed dealing with them and had nothing but admiration and the highest regard for Ben. I hope that he and his staff make it through this okay.
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Originally Posted by weiwentg
OK, this thread is all about mourning Serotta's demise, but what the &*^$ is going on with DCG? Is there another side to the story? Is DCG in financial distress, or did they actually breach their contract? I hope we get some clarity on this.
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I can't imagine that this has anything to do with DCG. It sounds like they were the last hope and simply didn't come through with the financing. The nail was in the coffin the day Bradway stepped in. I used to work with the owner of Bradway and shot my mouth off about it as soon as I heard the news of the acquisition. The guy had 2 failing bike shops that eventually rolled into a "fit studio" before buying Serotta. What made anyone think that this meant a recipe for a successful bike company is beyond me.
The business end of it sound like a financial advisor talked some clients into buying a brand that was on the rocks and could be had for cheap. If it goes well then he walked into it for a song and is a superstar. If not, then it was obviously a brand that no one, not even an industry veteran, could rescue. Win-win for Bradway, who gets to puts this off on DCG for not coming up with the necessary capital. In the end they will still own the name, that can be sold off and turned into a "Motobecane" to recoup some of the original investment.
The sad thing is that up until a few days ago they were still pushing hard the idea of a "rebirth". They were pitching their new race bikes, all the while knowing that they would be shutting down. Whoever put money on one of these bikes with a "lifetime warranty" should be outraged. Where's the integrity there? When I opened up shop last year I was looking at Serotta-like companies to bring in. Serotta was not on my list because I didn't think they'd be around and I didn't want to pitch that high-end of a product that would't be supported. I refused to stock Dura-Ace 10-speed just before it changed to 11-speed. I didn't stock Ultegra 10-speed bikes this year because it was about to change. If I sold any with this stuff I made it a point to explain to customers what was coming so no one is "buying blind". This probably cost me some sales, this year and last, but I have a reputation to build. I have to sleep at night. Who's been pitching Serotta bikes for the past year with a good conscience? Is anyone missing sleep over this? I suppose that there was no choice but to keep selling... but to keep pitching it like they have been?
I hope this doesn't come across as bitter. I really do wish Ben and the staff all the best. They had an awesome run and gave it a really solid try. They built an icon in the cycling world and truly changed the bike market for the better. Had it not been for Ben's fit school there wouldn't be Specialized Roubaix, Cannondale Synapses, H3 fits, Giant Defys and a slew of other bikes targeted at making cycling enthusiasts comfortable and fast. I think that Serotta, as much as any "Lance effect", is responsible for the resurgence of road cycling by making road cycling comfortable for the majority of the population. For this I truly thank them. For raising the bar on quality control, paint, customization options, tubing control... for all of that I have to thank Ben and the crew.
I hope that they treat the brand name with the same respect as Fat Chance, rather than Ibis, Bontrager, Klein, Merlin, Motobecane, Mercier, etc, etc, etc. Serotta deserves it.
RIP