Latest / En Roue Libre Podcast avec Antoine Taillefer / ENVE CEO — How to Turn a Niche Cycling Brand into a $100M Business | En Roue Libre Business

Transcript

ENVE CEO — How to Turn a Niche Cycling Brand into a $100M Business | En Roue Libre Business · En Roue Libre Podcast avec Antoine Taillefer

• 0:00
  I'll be One. My guest today is Mike stimola,
• 0:21
  the President of Envy. For the havelies and something
• 0:56
  else Market if you will you need that with that way to what do
• 1:00
  what we Cell commercially who wanna the few Company 100 make
• 1:07
  everything on that back in the driving we make everything.
• 1:25
  If you have seen de Andrew libre documentary on Envy yet Go to de
• 1:29
  Andrew libre Youtube Channel to see How the Brand mix the
• 1:32
  product some any of you Dream of riding somed that vidéo I spence
• 1:37
  the fuel minutes with Mike and I enjoy this conversation so much
• 1:40
  that I want it to good deeper digg in to is que Real what burn
• 1:44
  him to Envy Hand is vision for the Brand in the future.
• 1:48
  In the Episode, Mike wuxers through the path that let him to
• 1:52
  be come, the president of Envy, What has change sins the
• 1:55
  acquisition from hammersport where I wants to take the Brand,
• 1:58
  any stake on the current State of the Cycling industry.
• 2:01
  Welcome to this Episode of enroe libre with Mike stimola.
• 2:06
  Mike, What would you like every want to know but Envy that Day
• 2:14
  don't know a really ? I thank me, people out side of
• 3:10
  our Call. How are you down to the Factory
• 3:15
  Flower ? The no New is temple we have in
• 3:22
  the Factory. I think I.
• 3:29
  Would you this Cry the culture of ?
• 3:33
  The Company. Pretty Down.
• 4:08
  People are Pretty Blue about that.
• 4:11
  The business and companyers going to be still here longer
• 4:21
  turn and nature stendy the bicycle.
• 4:37
  I'm I knew when I got you that that cult you never make the
• 4:42
  compagnie sexe hall and I did that I did that I did I did I
• 4:48
  did I did I did I did you that you that they is now.
• 5:36
  When you rivd and what changes did you have to do ?
• 5:44
  Or did you do ? Yeah.
• 5:56
  There is no communication to the employee is about what sales
• 6:14
  where profit there. Amesa Small Company in Real to
• 6:20
  the witch with it's on the with. Canal Lost it's way and it with
• 6:47
  this come by effect so when I when I first get year the first
• 6:57
  Day. I will will over when that How
• 7:25
  that thin. And on forted Lady, fix it I had
• 7:57
  them, I had you do thin the culture worses, because we Head
• 8:01
  Go through thirty five, forty presents the emplace mostly and
• 8:18
  the Factory. The Heart part the blame people
• 8:49
  of. We are.
• 9:00
  Talking about lain of people, it's not light decision can you
• 9:08
  telus like How bad was the situation that let you to to do
• 9:13
  that ? Who ?
• 9:17
  My job when I got here. What job from amour was to ?
• 9:46
  A bad was it so the bad in that was it say a with say a was it's
• 10:10
  a was a. And
• 10:37
  receiable. And at so figure out to matth
• 10:50
  what it takes to get to place viable and make that cut and see
• 10:58
  Free can make it and I am not to be it finale to late it do that
• 11:04
  I am any you people. You can light in the Blow by
• 11:10
  giving people a good GI path to a New position.
• 11:14
  So we were Evil to give everybody a savverance package
• 11:19
  in most case is month where a there's a programme.
• 12:01
  Without in the World in start thing about US we did wee that
• 12:08
  we will there they are they I did I got everybody together.
• 12:48
  I Dick the people in the building somewhere with.
• 13:19
  What the eeze but if it Little by Little over time we a we got
• 13:35
  there was there was in there way.
• 13:46
  Between Prom from shearing playant in Town Home Meeting to
• 14:05
  Walk in round the build in the euh.
• 14:21
  I'll everybody shears that thin, thin, thin, thin, thin.
• 14:44
  We from the business so ?
• 15:14
  As as help it are sexe US i'll be say from are you're that it
• 15:18
  but it it there very passion it team been very 6S would I would
• 15:26
  you like to here. You Origin about where you want
• 15:34
  to take and V but before that I think it very important, but we
• 15:39
  here let it about your background because.
• 15:41
  People hearing US and looking at you the never probley never Hood
• 15:48
  of you non and a might think that you come from Financial
• 15:53
  background and like like many people in the industry resently
• 15:58
  and that didn't workout very well.
• 16:00
  So can you tell US a beat I'll beat about your background and
• 16:04
  and in your a touchment to Cycling.
• 16:11
  I band in not to prinor my How Life so I started and soul Free
• 16:15
  businesses I so I want to good Times in the start I'm so I
• 16:38
  start I from scratch. How ?
• 16:42
  How is in trick by that ? I'm not in engineer rose
• 16:48
  business major by this in trick by the process and my
• 17:09
  entreprenorial. I Company that Mad eurospace
• 17:35
  parts for bowling. You're the Head are you are what
• 17:41
  did it logs the True Tools to did I had to the had to the had.
• 18:07
  I Green Hate a money and I remember this heaving to my
• 18:11
  count, my count me that we held me to me.
• 19:55
  Hey, starting another entertainer venture ?
• 21:45
  Back look at Head it US so we can as grand there will there
• 22:03
  will there will there will there.
• 22:39
  So that I Hate Business in and third and was it in the time is
• 22:48
  start you and business you concily train the Rise money I
• 22:52
  here How is raise the money to growth raise the money I had I
• 22:56
  had the business were Pretty good shape I'm so I bein and the
• 23:05
  business for long time. You with wanna lose is This Way.
• 23:34
  For you can be there five years Core it happen it's so were it
• 23:45
  we cake back a really but I am I got board really fast noth I am
• 23:53
  i'll be there. And I did I did I like this I
• 24:29
  like this like this I like this I like this I, this I this I,
• 24:47
  this I this I. Intrum What I Fine somebody
• 24:56
  parmental I am I wre a fixes some will you wish for so I got
• 25:05
  we created I'm by Head what Heather I amour sport that it
• 25:09
  time was looking for somebody in the US that coud take over and
• 25:17
  manage and be for them I amour sports.
• 25:21
  Amour sports it self with in finement but on by Chinese
• 25:41
  private equity Farm. I am.
• 25:52
  I get hard and I had I like had I like what had to business,
• 26:02
  construction business and restaurant business.
• 26:05
  I am I know had run the business I think I know I not AI for
• 26:12
  myself by the way I found me. And I with than horizon of
• 26:21
  closing of the Utah so I in hin that I that I that I that I
• 26:28
  that's I. That I, that I, that I that I
• 26:34
  that's I want to be take the band and where do you think it
• 26:42
  can go ? OK.
• 27:14
  The initial vigion was survive make the Company then I want to
• 27:23
  the commerciation with amer and in the next the session with
• 27:28
  gonna be the we keep with what we do with it right and this to
• 27:34
  me what I Fly and I said I can business I can be a Great
• 27:39
  business but it to you never be gonna.
• 27:50
  The behind Amer sports it amer sports.
• 28:12
  A the Virgin was a get a solde and positions the Company for
• 28:24
  salle so when it it some growth when it is the pratic ?
• 28:40
  Eating twenty Thousand Dower County by customer.
• 29:58
  Somebody Bang want it's some transition empire so I to Great
• 30:17
  okay State Remote have to that. So we want it to keep in the US
• 30:37
  and we want it to try the find the byar Life we hat a global
• 30:51
  Search. I'm so again my vision with the
• 31:01
  sell the business we want to the sales paressess there's in
• 31:18
  there. I wasn't looking Free Mont 6
• 32:01
  month How I was. I.
• 32:09
  Okay ? We are on by a Family office.
• 33:36
  Day the are there goes is Stay Invest.
• 33:57
  In Youtube. Company.
• 34:33
  And really, the merce, the Company goldbly and into the
• 34:52
  Cycling Company. So we are talking about mostly
• 35:04
  about number here. OK, Let's say we want to to craz
• 35:08
  you are the reven you and if we Go to because we are talking
• 35:13
  about. Money is just money is just
• 35:23
  money, it's money they. There that I got you say Hey I
• 35:30
  want a be a Hunter 1000000 dollar business it's not about
• 35:34
  the money if if you try if you gonna figure hatha be come under
• 35:44
  1000000 dollar business it's I kill it I.
• 35:57
  The destination I give to the push, I am.
• 36:08
  That it is metrics that you need to have thing because if you say
• 36:17
  okay, I want to be the favorite Brand for people like How do you
• 36:23
  major that so numbers a Essential.
• 36:26
  To. Dias Soap every Company, every
• 36:34
  industry as sales number, every industry House what the products
• 36:54
  cost. There you're you think you ?
• 37:13
  Can would ? So what a thing I found Andy
• 37:30
  that SPIN very enter that as we but a business model in place we
• 37:49
  have a run they. Within Christie, in there,
• 38:02
  Christie, Everything, anything.
• 38:25
  Incredi star Business in Europe, we have just started the open.
• 39:19
  I say the growth is How it distribue you protects the and
• 39:44
  all they. For feel theme and we we every
• 39:51
  month we and shipping pratic. Will with Teen an Evolution on
• 40:01
  the product range at Envy initial he was compendence now
• 40:06
  is bikes we see. A road by x what what can we
• 40:13
  expect from and V without disclosing anything but where do
• 40:17
  you want to take the Brand and is any thing we we we can't come
• 40:22
  here to. You take that the Core and this
• 40:27
  business what always be are Wheels and I know I Seth wanna
• 40:32
  be a by business, right, but the Core product.
• 40:37
  The wills, in the wills, in the wills.
• 41:53
  Because thea, thea, somebody out side of here made that made the
• 41:59
  Choice to do that, so with really built four, so One we
• 42:14
  spinter we will. We is that is that would be a
• 42:56
  Core protect, but the Strategy is that we sell bikes and a
• 43:10
  bikes to the best. Technology of verbal and we will
• 43:25
  really Hello I did I that an as Free years but it and there will
• 43:38
  there will. Got the wills and through there
• 43:44
  is some good Brain in there good product but that business with
• 43:52
  dying for and be and so to to survive to that have another and
• 43:57
  so to selling for bike what are wills is huge extra out let it
• 44:02
  in the Fall it versus send it Seth.
• 44:11
  But because with mainten the the will business in the Technology
• 44:17
  again working with did pro afflease in pushing US.
• 44:38
  By. The way How do you see the the
• 44:42
  competition of entering the wills Market and we see that a
• 44:50
  Little bit. How do you How do you see that
• 44:54
  competition ? The best and we focus I dont, I
• 45:23
  don't really. Not as many is we can.
• 46:30
  I'll again IIII don't folk is another Brain in there compan.
• 46:59
  A working for the weekend who re who right that you can really
• 47:07
  Great will I pro hatley conride and that I will don't make
• 47:13
  protect for the afflease and sell something else I will you
• 47:18
  what the havely to reason is what we sell commercialy for the
• 47:26
  have that protect. Yeah, we Power everything Inter
• 48:01
  wills and so I is long is I feel like we come on better than
• 48:11
  everybody heels interames of I we sell we sell everyone we
• 48:24
  make. Can't me Salom not say me salon
• 48:29
  donc I would reise an number we gonna make next you can me Salom
• 48:34
  we Salom so is not about Market shered about.
• 48:39
  Let's a where you think to Brand would be as it's a product Rise,
• 48:48
  a position in the Market. Not are so not.
• 48:59
  About the Market chance, but yeah, position in the industry.
• 49:48
  So we we wanna camping in me high.
• 50:16
  The R and d in the testing and sponserships and the work with
• 50:23
  pro hatley tonal is really extender to do you do we have
• 50:34
  the ever return ? That's the we not not to be is
• 50:37
  make make more money more money this survive you get a charged
• 50:41
  more the get it ? I feel that I want thin that I
• 50:47
  try to cover in the Factory tour, getting people to
• 50:52
  understand why is the price tag so high because it's produced
• 50:59
  here in the US can you ? Telus, are you about the the
• 51:04
  challenge of producing in US of usely there is something.
• 51:13
  About there is this is. Normal Project and sable what I
• 51:45
  will I making will I am sonner wills over.
• 51:56
  I Want I fair again another interesting data point like to
• 52:00
  you I Teen testing home and having it but the best that I
• 52:05
  got back with Pretty down and clause to what there is another.
• 52:24
  Are you're so like that ? Really competit of AE and with
• 52:54
  gotton only more the fishing as with grown and make more more
• 53:06
  will searsel and thinker arrête. So we have the lived the some
• 53:19
  difference this overseas Factory Saft two but we have figure that
• 53:44
  out. So but the but I will everyone
• 53:53
  US there with so it's you make a product in in.
• 54:13
  How a country safe canari eighty with thereun shipping out.
• 54:40
  Tailus what you think of the situation of the bike Industrial
• 54:43
  the moments you you are from you have that entreprenorial
• 54:50
  background and you scene quiet of you things I like to here you
• 54:57
  are. Thug so but the situation at the
• 55:08
  moment. Are is that I'm in the business
• 55:14
  to business to business to didn't I can't I can't I this
• 55:30
  that. I think the business models
• 56:03
  Broken and so I think as part of re Jaggerin Andy here we bin Eve
• 56:27
  a we. The Canada same is the was and
• 57:02
  two thousand nineteen the Go back in look at the raven you
• 57:07
  number the production what happen what ?
• 57:13
  Two thousand and nineteen thing I think that I think in the guin
• 57:24
  there is here there's here they. I am I that from the biggest
• 58:13
  impact on Envy from a March from the Market I hits self it is
• 58:21
  that so we don't we don't have stores it's all Andy to stand we
• 58:31
  have we have shop set it close. It's looked you to you that the
• 59:08
  the Curve would and Stay like that for Forever.
• 59:12
  I'll. Got you here II got you that
• 59:17
  I'm. Look, I'm gonna Kiss you can.
• 59:25
  You I'm show you can't, but can you understand peoples hope ?
• 59:32
  For this to he know to keep on. Going but way I Gand this hine
• 59:41
  Inside I this I am in this look it in the industry that.
• 1:00:27
  Before you did we for I did right so i'll are know is to is
• 1:00:33
  a Pretty good protector of the futures I think of the.
• 1:00:40
  Reason why people that it would be the Day is because Day
• 1:00:50
  expected people to find out How Great.
• 1:00:56
  Bys are and back is for multiperisons could be commuting
• 1:01:01
  could be heaving fun could be exercise an everything is like
• 1:01:07
  How Oh that thing is Great in use to use my car any thing to
• 1:01:12
  do what I need it to and so I think people that yeah the would
• 1:01:19
  find out a people would find out How Great.
• 1:01:23
  Yeah. Any really only grill like that
• 1:02:15
  in a very short Windows like retarget like this Spike quiesa
• 1:02:29
  team month baby baby. So I know where you think the
• 1:02:43
  industry. Is going and when do you think
• 1:02:51
  thinks will Go back to normal ? Ok Industry so I this I think
• 1:03:04
  that. The and I Love say side of the
• 1:03:39
  of the Industry a and and and be thousand comp in the eag side
• 1:04:01
  with you like to is nie in there with you.
• 1:04:05
  I don't with a bite for US is Core companency Andy score
• 1:04:13
  companency is composites Caroline fiber composites and be
• 1:04:17
  in the will is the reilly diffuse it's an Engineering they
• 1:04:25
  we don't have and a electrical engineers people.
• 1:04:59
  Yeah, to developing of the shift.
• 1:05:03
  Can you are who wanna the FUE Company c'est make everything on
• 1:05:16
  that back you are we make everything.
• 1:05:28
  I am I think there is started as a Company and Group in to be in
• 1:05:36
  there is that that is a Core companion we have from were I
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  think from different why we don't by.
• 1:06:27
  As I observe that. Many Brands are know Doing
• 1:06:33
  premiumage the same me thing by haveing the same and Motor the
• 1:06:38
  same you under bike. To have a kind of
• 1:06:42
  differentiation is that's Funny. Yeah, here is and and all we
• 1:06:55
  diff. Like extending in European ager,
• 1:07:27
  can you tell US Little bit about the roll of mohawkes in that
• 1:07:33
  regarde so when I. Think I would thin I would that
• 1:07:45
  How it business is and be in Europe can't it's in connected
• 1:07:50
  to me. It's in the make Sense the have
• 1:08:48
  One central location in your up that we can't so play all.
• 1:09:07
  All the everything. Different options I and I met
• 1:09:27
  Alex from from ox the first year I wis here want to tour
• 1:09:31
  difference and be gradging Lee a Lear marketing.
• 1:10:34
  And and shipped there there we only shept there what we make
• 1:10:47
  here. So there is there were will
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  there. If you want a did I did a we.
• 1:11:26
  I know you kned to UAI so that that what what what what what
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  you're soo that they that I want that I want to part of our
• 1:11:52
  business and we want it more Control of a business.
• 1:11:56
  So we perchest of Big most of Big chunk of more ox that and
• 1:12:02
  Beyoncé were now we will them to be restricted by by Investment
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  so now we will them from a Little place that hat to Brain
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  you facility the we can build will there we can thin.
• 1:12:26
  So that to be come AI think that's really that's modal for
• 1:12:30
  US Prom a distribution stain point mix all other Sense what
• 1:12:35
  about USA so for agea ? So Works so well.
• 1:12:40
  Hi in an in an in France that we had distributors an every
• 1:12:48
  country in and hand x thing we shipping to all is different.
• 1:12:53
  Distributors in only I fish and when is this is so we we we have
• 1:13:03
  started we wanna we wanna repp we do I more ox that we have a
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  we have a where House in I know with stock with protect.
• 1:13:50
  Is a Big different in this business.
• 1:14:11
  You you need to be Evil to a fish and you get it is close to
• 1:14:19
  you. So hard growth prophet I every
• 1:14:22
  piece I don't we sell in the World we have a grave I growth
• 1:14:38
  margin on. Do you need to make more money ?
• 1:14:55
  I Heard the what a Project. Of Doing something else than
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  bites and wills. Ah, so are.
• 1:15:11
  You are you. Have as a passion four by cycles
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  I and Cycling to there have a passion and more that that.
• 1:16:03
  The best race car is hundred pour San Corbin if you here any
• 1:16:10
  body in the business Or Or on there we have that expertise so
• 1:16:19
  we coming it come it with a How that.
• 1:17:31
  All I want to talk about was Envy.
• 1:17:40
  He is an Envy, and I and I and I.
• 1:17:48
  Cycles in a high and Motor's force Guy mixer, mixer bikes.
• 1:18:16
  From the composit Technology City and point that World help
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  US in the by business. That don't be parts on somebody
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  is race car setter and beparts and that I don't make it is a
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  better that I can't me to be about sustainability because we.
• 1:19:06
  Know that a Carbon fiber industries not the most
• 1:19:08
  sustainable. What would you like to Or.
• 1:19:14
  What are you ? Plans to make baby.
• 1:19:27
  And they Little back to I. You something with me Eve ever
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  to your don't Link in this is not this not any is used to
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  carby Fire products I everything US on a bike that we make that
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  our May that is a humanum. Row lemon and that we take.
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  I do that, I do that, I do that. Where can have the Fall of the
• 1:21:44
  leaders in the compositing Night my Guess that the that that that
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  that that that that that that that that that that that.
• 1:22:02
  Haveing. Had discussions with people from
• 1:22:05
  the are Space there looking at US a Little bit, you know, to
• 1:22:10
  fine ways to like. Like best thing like in Heaven
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  giant. As programme that there
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  exploring for making the Carbon fevery cycle about but it Day
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  sate going to take a long time we so so so forge band.
• 1:22:31
  Trying to do. Something but they know.
• 1:22:54
  Did you that ? So we.
• 1:23:12
  We need to home for someone to find the.
• 1:23:14
  Solution I am. Someone to prenor what do it US
• 1:23:28
  there is this. What a touff One.
• 1:23:41
  What and need to be figured out. What can we wish to ?
• 1:23:47
  You for the future, when I would say.
• 1:23:52
  On we we we we help that i've Love you there the World Stay
• 1:23:59
  Stay of healthy place that he no people still wanna grout in
• 1:24:08
  right by thin. From a from a Great more grass
• 1:24:12
  roots Cycling side I Canada Hope that the industries and find it
• 1:24:20
  find it's where again level out on fortunly more companies the
• 1:24:25
  probleg and close before that happens and I Hope and.
• 1:24:38
  If you want it to here someone. In the Mike.
• 1:25:30
  I would be grace I you. Can his you can.
• 1:25:39
  That I that I that I that I that I that I that I that I that I
• 1:25:46
  that I that I that I that I that I that I that I that I that I
• 1:25:52
  that I that I that I that I that I that I that I that I want to I
• 1:25:58
  that. That what what Dave see in the
• 1:26:01
  Evolution of of the bike industries and.
• 1:26:11
  What I ? Have been learning.
• 1:26:27
  A Spider the BE a Company like that and industries so I take
• 1:26:37
  feel back like that would be would be good there with it's
• 1:26:50
  had french kill. The safe mess that you feel
• 1:27:28
  writing in the bike ling what a curb.
• 1:27:31
  You're different in this this that I think that I that I that
• 1:27:42
  I that I that I that I that in there I that I that I that I
• 1:27:49
  that I that I that I that I that I that I that I that I that.
• 1:27:59
  And I thank you. Thank you.
• 1:28:21
  Yeah, thanks all sot. To.
• 1:28:24
  Alex from hooks get made this be possible and all the team at
• 1:28:30
  Envy Neal, Jake, Chris, everyone we.
• 1:28:40
  Love shall and the Space off no we.
• 1:28:48
  And so we will come the come any time and boring Friends, yeah,
• 1:28:54
  with the Factory tour we find. I'm quatro we broth a Love
• 1:28:59
  Friends and the in the Factory just for all use and the
• 1:29:04
  audience like if you have not scen it yet there is a full
• 1:29:07
  Factory tour I Andy with we just find we got the chance to see
• 1:29:13
  the full process like the machine shop the.
• 1:29:18
  Tieping the manufacturing process all so we Blue up, will.
• 1:29:42
  Thank you for whating. Thanks.
• 1:29:44
  For yeah. Making en roue libre a Little
• 1:29:48
  Big girl everyday and please subscribe if you enjoy this
• 1:29:51
  content and a leave me Command as questions, i'll be happy to
• 1:29:57
  yeah to respant to dise questions and if you want to see
• 1:29:59
  more Factory tours like this and podcast like this, just let US
• 1:30:03
  no Mike, thank you so much. Thanks for listening to Or
• 1:30:10
  watching. This Episode of Andrew libre.
• 1:30:12
  I Hope you enjoy it and that it made you want to spain more time
• 1:30:15
  on your bike if it did joint de Andrew libre Community right now
• 1:30:20
  by subscribing on Youtube and following US on Instagram youf
• 1:30:25
  been listing to anrou libre, the show that feel your passion for
• 1:30:28
  Cycling and if you heaven't already, you can get back to
• 1:30:31
  pedaling.