150 million cash injection for Scott Sports | Ride MTB

150 million cash injection for Scott Sports

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It's no secret that the bicycle industry is struggling with problems. Overstocked warehouses meet low demand, discount battles are the result, profits are collapsing - and bankruptcies are already the consequence. Scott Sports, based in Givisiez in the canton of Fribourg, has not remained unscathed by these developments. Scott's majority shareholder Youngone is taking countermeasures and providing the bike and outdoor specialist with a financial injection of around 150 million Swiss francs.

According to several South Korean media reports, Scott Sports is receiving a substantial financial injection of around 150 million Swiss francs from majority owner Youngone. Youngone owns more than 50 percent of Scott Sports and is lending the money at an interest rate of 4.6 percent, according to The Korean Economic Daily.

Youngone cooperates with brands such as The North Face and Patagonia. 100 million of the loan to Scott Sports has already been transferred, with the remaining 50 million to follow this year.


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Note: This content has been automatically translated from German. Please report any incorrect translations.