CHRIS FROOME, POINT KING CAPITAL AND SKIP CAPITAL JOIN FORCES WITH FACTOR BIKES TO SUPPORT GLOBAL GROWTH STRATEGY
Summary
Factor/Black Inc recently announced it is looking to open a new retail facility in Melbourne as part of enhancing the direct-to-consumer experience and also signed on for another year as sponsor for the UCI World Tour professional cycling team, Israel Start-up Nation.This transaction represents Chris Froomes first investment in a bicycle company. The seven-time Grand Tour winner and four-time winner of the Tour de France will play an active role in providing strategic direction, especially with regards to product development and marketing/sponsorship decision-making.Speaking from his Monaco base as he prepares for the remainder of the 2021 season, Chris shared his thoughts on what the cycling community can expect from his investment: Im really excited to be joining the Factor/Black Inc team. They all understand and support our mission to push boundaries and challenge the status-quo, which is critical.With regards to Froome, specifically, Gitelis continued, As much as his physical abilities, Chris obsession with extracting every last ounce of performance from his equipment has played a key role in his becoming one of the greatest cyclists of all time. The fact that he chose to make his maiden bicycle company investment in Factor/Black Inc after just one season of racing on our products speaks volumes about his belief in what were doing. We will benefit greatly from his knowledge of both the product, and the peloton.Scott Farquhar, Co-Founder of Skip Capital spoke about their investment in Factor bikes; I love cycling, so its a dream to be able to play a small part in one of the most innovative companies in this space.