RonW87
06-28-2018, 04:20 PM
"Dorel to Focus on Core Strategic Businesses of Bikes, Parts and Accessories and Electric Ride-Ons
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June 27, 2018 16:35 ET | Source: Dorel Industries, Inc.
multilang-release
MONTRÉAL, June 27, 2018 (GLOBE NEWSWIRE) -- Dorel Industries Inc. today announced that its Dorel Sports segment has sold the SUGOI and Sombrio brands to Louis Garneau Sports Inc., divesting its performance apparel line of business to focus on its core strategic businesses of bikes, parts and accessories and electric ride-ons.
“Despite the strong brands and products in SUGOI and Sombrio, apparel is not a strategic priority and has been a drain on Dorel’s financials. It is in the best interests of our shareholders for us to focus on our core businesses. SUGOI and Sombrio are a perfect fit for Louis Garneau Sports Inc. They specialize in cycling apparel and I am confident both brands will reinforce their excellent product offerings to retailers worldwide,” stated Dorel President & CEO, Martin Schwartz.
...
Dorel acquired SUGOI Performance Apparel in February of 2008 with the purchase of Cannondale Bicycle Corp. from Pegasus Capital Advisors. Dorel later purchased Sombrio in January of 2014."
I think I see Sugoi as slightly more upmarket than LG, although LG seems to be on an upward trajectory. Maybe Sugoi is pushed even more upmarket to compete with Rapha, Assos, etc. Sugoi has always struck me as good quality but without the prestige or panache of some other brands.
SharePrint
June 27, 2018 16:35 ET | Source: Dorel Industries, Inc.
multilang-release
MONTRÉAL, June 27, 2018 (GLOBE NEWSWIRE) -- Dorel Industries Inc. today announced that its Dorel Sports segment has sold the SUGOI and Sombrio brands to Louis Garneau Sports Inc., divesting its performance apparel line of business to focus on its core strategic businesses of bikes, parts and accessories and electric ride-ons.
“Despite the strong brands and products in SUGOI and Sombrio, apparel is not a strategic priority and has been a drain on Dorel’s financials. It is in the best interests of our shareholders for us to focus on our core businesses. SUGOI and Sombrio are a perfect fit for Louis Garneau Sports Inc. They specialize in cycling apparel and I am confident both brands will reinforce their excellent product offerings to retailers worldwide,” stated Dorel President & CEO, Martin Schwartz.
...
Dorel acquired SUGOI Performance Apparel in February of 2008 with the purchase of Cannondale Bicycle Corp. from Pegasus Capital Advisors. Dorel later purchased Sombrio in January of 2014."
I think I see Sugoi as slightly more upmarket than LG, although LG seems to be on an upward trajectory. Maybe Sugoi is pushed even more upmarket to compete with Rapha, Assos, etc. Sugoi has always struck me as good quality but without the prestige or panache of some other brands.