Winkelmans is best known as the founder of the bicycle shop chain Fiets!, later renamed Bike Republic by the current owner Colruyt. Even after the Antwerp entrepreneur Fiets! sold, he remained passionate about bicycles, but mainly as an investor.
He became a major shareholder in Ahooga, the trendy Brussels builder of, among other things, e-folding bicycles that mainly targets cyclists in a metropolitan environment. Ahooga, which is located in Anderlecht and has a store on Avenue Louise, is in the higher market segment with the British brand Brompton as its best-known competitor.
Winkelmans is now pumping an additional 900,000 euros of additional capital into Ahooga through his company Sottobosco, according to a report in the Staatsblad. The capital injection is more than welcome, because the successive losses (2.3 million euros loss in 2023, after 1.3 million euros loss in 2022) are affecting the company’s financial strength.
New showpiece
According to the company, these losses are related to the development and marketing expenses for Ahooga’s new flagship Max, which was launched in the spring. These are heavy costs that the company does not have to incur every year. The bicycle maker indicated in its most recent annual accounts that it may make a limited loss in 2024, and then be profitable from 2025 thanks to further growth.
That growth must of course come from Max, whom Winkelmans calls “a game changer” in terms of design and functionality in the world of urban cycling. According to the company, it is easier to make a profit with the Max production series than with the old models, which generate significantly lower profit margins and are also losing popularity.
As an electric folding bike, Max is very compact and at 19 kg (including battery) it is also relatively light, making it easy to carry the bike on the train or to work. But it does come with a hefty price tag: the base price is 3,500 euros.
The Unstoppable Bike Empire of Winkelmans
Have you heard the buzz? It’s not just cyclists who are pedaling into the future—it’s also the brilliant entrepreneur Winkelmans. Once the proud parent of Fiets!, now known as Bike Republic—speaking of identity crises, right? This chap is the quintessential bike whisperer: even after selling his beloved chain, he remains a two-wheeled tycoon and investor extraordinaire.
Ahooga: The Trendy E-Folding Revolution
Hold on to your handlebars, folks! Winkelmans has shifted gears and revved up his involvement in Ahooga, a Brussels-based builder of super trendy e-folding bicycles. You know, the kind that screams ‘I’m environmentally friendly, but also stylish enough to make my friends slightly jealous!’ If you haven’t heard of Ahooga, just remember—they have a snazzy flagship on Avenue Louise and are giving Brompton a run for its money in the competitive world of high-end folding bikes. Talk about a bike race!
Cash Injection: The Lifeblood of Growth
Now, let’s talk money. Winkelmans isn’t just admiring Ahooga from the sidelines; he’s pumping 900,000 euros into this venture through his company, Sottobosco. The man clearly has a penchant for numbers—especially when they come with a plus sign! Given Ahooga’s recent financial landscape, which resembles the trajectory of a cyclist careening down a hill—2023 saw losses of 2.3 million euros—this capital injection is like the hug your favourite aunt gives you right before you go off to college. Very much needed!
What’s contributed to these staggering losses? The costly expedition of development and marketing for Ahooga’s new flagship model, the Max. Yes, Max is here, and it’s not just a name but a promise! A promise that hopefully, one day, will convince us that investing in foldable tech is a worthwhile endeavor.
Max: The Marvelous Game Changer
Max isn’t just any bike; it’s christened as a game changer by Winkelmans himself. This electric folding bike is designed for urban environments—where everything is compact, including the patience of your average commuter. Weighing in at a mere 19 kg (battery included, don’t worry)—Max makes it easier to carry those precious wheels on the train or into the office. And hey, it’s also got a sleek shape that might distract your boss during those long Zoom meetings!
Of course, such innovation doesn’t come cheap. The base price is around 3,500 euros. But let’s be real: where else can you get a stylish ride that also says, “I care about the planet, and I have a gym membership”? Just be cautious—this price could make your wallet weep in ways you never imagined!
Looking Ahead: The Road Less Traveled?
Now, according to Ahooga’s latest accounts, they anticipate a limited loss in 2024 but are optimistic about hitting the profit mark by 2025. Ah yes, the sweet scent of future profit! They’re banking on Max turning up the dial on sales, as old models—bless their fashionable hearts—are losing steam. Maybe it’s time to put those old models in a lovely retirement community? Costa del Bicycle, anyone?
As we watch the twists and turns of Winkelmans’ venture into urban cycling, we can’t help but notice how passion and business acumen can intertwine, steering ahead towards a more sustainable future. After all, if there’s one thing we can gather from this bike-centric saga, it’s that with enough passion and money (lots of money, mind you!), any venture can hit the ground rolling. It’s a cycle—a lovely one at that!
Winkelmans, renowned as the visionary founder of the once-popular bicycle shop chain Fiets!, which has since been rebranded to Bike Republic under the ownership of Colruyt, has become a notable figure in the cycling industry. Even post-sale of Fiets!, the Antwerp entrepreneur has channeled his fervor for bicycles into his role as a strategic investor, focusing on the evolving market dynamics surrounding urban mobility.
He has also secured a significant stake in Ahooga, a chic bicycle manufacturer based in Brussels known for its innovative e-folding bikes tailored specifically for urban commuters. With its headquarters in Anderlecht and a presence on the upscale Avenue Louise, Ahooga competes in the premium market segment, facing stiff competition from the leading British folding bike brand Brompton.
Winkelmans is now injecting an additional 900,000 euros into Ahooga through his investment firm Sottobosco, as reported in the Staatsblad. This financial boost is crucial for Ahooga, which faced substantial losses of 2.3 million euros in 2023 and 1.3 million euros in 2022, impacting its overall financial viability.
New showpiece
According to company statements, these financial setbacks can primarily be attributed to the significant costs associated with the development and marketing of Ahooga’s latest flagship model, the Max, which made its debut in the spring. Such expenses are not an annual burden for the company, and they have indicated in their latest annual accounts that while some losses may persist in 2024, they anticipate returning to profitability in 2025 as a result of further growth initiatives.
That growth is expected to be driven largely by the Max, which Winkelmans describes as “a game changer” in the sphere of urban cycling due to its cutting-edge design and functional advantages. Ahooga asserts that the production of the Max series is poised to be more profitable compared to the older models, which are not only generating lower profit margins but are also witnessing a decline in popularity.
Weighing in at just 19 kg, including the battery, the Max electric folding bike is designed for ultimate portability, making it well-suited for commuters who may need to carry their bikes onto trains or into workplaces. However, this convenience comes at a premium, with the starting price set at 3,500 euros.
**Title: Pedaling into the Future: An Interview with Hendrik Winkelmans**
**Interviewer:** Thank you for joining us today, Mr. Winkelmans! It’s fantastic to have you here to discuss your ongoing journey in the cycling industry, particularly your recent investment in Ahooga.
**Hendrik Winkelmans:** Thank you for having me. It’s always a pleasure to talk about the innovations happening in urban cycling.
**Interviewer:** Since selling Fiets! and transitioning to Ahooga, how has your vision for urban mobility evolved?
**Winkelmans:** When I sold Fiets!, I realized the cycling landscape was changing rapidly, especially in urban settings. Ahooga represents a leap forward with its focus on e-folding bikes, which are tailored for city living. My vision now is to support innovations that not only promote cycling but also make it a viable option for everyday transportation.
**Interviewer:** Speaking of innovations, you recently injected €900,000 into Ahooga. Can you elaborate on the reasoning behind this move?
**Winkelmans:** Absolutely. Ahooga faced some significant losses as it worked heavily on the development and marketing of our flagship model, the Max. That kind of investment is crucial for our long-term success as it aids in solidifying our position in the high-end market. We believe that once we establish Max as a household name, it will transform our financial outlook.
**Interviewer:** The Max bike has been described as a game changer. What sets it apart from competitors like Brompton?
**Winkelmans:** The Max is not just another folding bike; it blends design, functionality, and ease of use. Its lightweight structure at just 19 kg, combined with its electric capabilities, makes it perfect for urban commuters. It offers an eco-friendly solution while ensuring convenience. Plus, it is stylish—something our target market values immensely.
**Interviewer:** While the bike does come with a hefty price tag of €3,500, what justifies this investment for potential customers?
**Winkelmans:** It’s about quality and lifestyle. Yes, the initial cost is high, but the Max is engineered for durability and efficient performance. We see it as a long-term investment—one that promotes sustainable transport, saves costs on fuel and parking, and integrates effortlessly into the urban commute. And let’s be honest, it’s a pretty great conversation starter!
**Interviewer:** Looking ahead, what predictions do you have for Ahooga’s financial health in the coming years?
**Winkelmans:** Our recent assessments suggest that while we anticipate a limited loss in 2024 as we finalize Max’s rollout, 2025 looks promising for profitability. We are optimistic that as consumers shift towards sustainable commuting solutions, Ahooga will experience significant growth.
**Interviewer:** It seems you have a clear vision for Ahooga’s future. Any final thoughts for our audience considering cycling as a viable mode of transport?
**Winkelmans:** Cycling can truly change urban life. It’s not just about getting from point A to B; it’s about enjoying the journey, contributing to a greener planet, and embracing a healthier lifestyle. To anyone considering cycling, I say—jump in and enjoy the ride!
**Interviewer:** Thank you, Mr. Winkelmans, for sharing your insights. We look forward to seeing how Ahooga and the Max model evolve in the future!
**Winkelmans:** Thank you! It’s exciting times ahead for urban cycling.
