Giant feels the chill from falling demand.

[IanSmithCSE]

Good morning,

Looks like Ribble is about to go.....Next 12 months we are going to see some big losses. Reduction in choice is never a good thing for consumers, even though that wouldn't bother most forum members here

https://find-and-update.company-information.service.gov.uk/company/04149504/filing-history

You picked up on that pretty quickly, have you been monitoring them?

At the moment it is hard to draw any firm conclusions as the notice is just the next stage in a routine, after a few reminder letters to a company who is late in filing accounts.

The late filing could be a snafu, Fred does that and nobody has noticed that Fred has left or it could be really serious and the auditors won't sign off the accounts, or anything in between.

However it is sure to worry people with outstanding orders and deter some from placing a new order.

On the subject of details Ribble did annoy me a few months back, I contacted them to say that their finance screens had an issue, they confirmed the issue and have not updated the site. This screen shot was taken just now.

The text This is a loan of £1,499.00 with no deposit. Repayable by 5 monthly repayments of £249.83 and a final payment of £1,499.00 is simply wrong. The final payment should be around £250, the same as the other 5 plus or minus a few pennies.

Surely I can't be the only person to have mentioned it and it is not a trivial typo and yet it is not fixed.
.
Bye

Ian

 

[Illaveago]

Giant Propel Advanced O £11,499 !
That's 3/4 the price I paid for my Jag!

 

[Jameshow]

I remember when I heard that they had opened a giant bike shop in Norwood, I went to see it and was rather disappointed.

I mean, it was a bit bigger than average, but no more than that.

I went to the giant shop which was a bit pokey.

So I walked onto the specialized store but that was a bit niche.

Finally I was going to go to the trek store but it was a walk too far...!

 

[the_mikey]

I was looking into getting a Liv road bike for my wife last year, but the model which would've best suited her just wasn't available. The local Giant store seemed to be having real issues getting stock, in fact there were hardly any of that model in the UK.

I've been looking for a new bike since 2020, even when I eventually manage to sift through the overwhelming range of bikes and choose a model that I'm happy to live with, it seems like it's pretty much unlikely to be in stock anywhere.

 

[Cycleops]

I've been looking for a new bike since 2020 and stock of Giant road bikes in my size seem vanishingly rare, and even when I eventually manage to sift through the overwhelming range of bikes and choose a model that I'm happy to live with, it seems like it's pretty much unlikely to be in stock anywhere.

I have an idea that might change rather quickly now

 

[Dogtrousers]

I remember when I heard that they had opened a giant bike shop in Norwood, I went to see it and was rather disappointed.

I mean, it was a bit bigger than average, but no more than that.

OT but I'm always similarly disappointed when the announcer on the London Overground says "the next station is Wapping".

It isn't. It's really pokey and has a short platform.

 

[Paulus]

I went to the Condor shop in London,
But it was just a flight of fancy.

 

[Chislenko]

I went to Evans and came away with clothes for large ladies. (One for the older generation)

 

[Chislenko]

I ordered some stuff from Chain Reaction and ended up with singles from Diana Ross and Steps!

 

[wafter]

Interesting thread. I'd not have expected to see this issue afflicting apparently the world's largest cycle manufacturer, and it obviously has concerning connotations for the rest of the industry too.

I think unfortunately it's an especially perfect storm for bike manufacturers as I imagine their sales are suffering thanks to massive trade during Covid and a resultant saturated used market now. On top of this we have the wider economic situation which will reduce discretionary spending and potentially make a used bike an even more appealing choice with their prices falling and new stuff going the other way.

Tbh I have limited sympathy for the industry as a whole as it seems ruled by cynical marketing and ever-greater attempts to curtail the lifespan / servicability of their products.. and (while I know I'm not typical) the mainstream bike industry offers very little that appeals to me. I'm no fan of the opacity of the supply chain either; with companies using their reputation as leverage to push prices higher for stuff that mostly comes out of the same factories in the far east, for probably not a huge amount of money (and often it seems with questionable quality control).

It will be interesting to see how the Ribble situation pans out - personally I've never really liked the company (more badge-engineered eastern stuff pushed under some fluffy insinuations about being British) and I wonder if they've used the Covid boom to get a good price from whichever scummy PE company swallowed them up, and have now left them holding the bag in the inevitable post-Covid vacuum (fair play if so ).

Just had a quick look at used Giant Defy bikes (their entry-level model) and there are plenty on ebay that have sold for £50-100; obviously not high-end, newer examples.. but still, perfectly serviceable bikes that would have been ballpark £400-600 when new. By contrast I sold my Giant OCR (forerunner to the Defy) during lockdown for a ton; admittedly with a few nicer bits on it but with a cracked, essentially scrap frame.

It seems that the prices of higher-end gear are a bit more stubborn, which I guess figures if a lot of what's up for sale was bought by more casual riders on the promise of a summer of cycling in 2020.

 

[Jameshow]

I think giant have been squashed out the market in the west tbh.

Not a posh brand like spez, Cannondale, trek, cervelo, pinerrello, etc.

But being undercut by Canyon, Ribble, rose, boardman, etc

A bit like ford and vauxhall not a premium brand but not bargain like Skoda, Seat, Dacia, MG etc ..

 

[Grant Fondo]

I think giant have been squashed out the market in the west tbh.

Not a posh brand like spez, Cannondale, trek, cervelo, pinerrello, etc.

But being undercut by Canyon, Ribble, rose, boardman, etc

A bit like ford and vauxhall not a premium brand but not bargain like Skoda, Seat, Dacia, MG etc ..

I think that is a good point, and maybe impacted by high second-hand volumes of 'posh' makes bought during covid?

 

[All uphill]

I went to the giant shop which was a bit pokey.

So I walked onto the specialized store but that was a bit niche.

Finally I was going to go to the trek store but it was a walk too far...!

Been to that shop for bikes assembled in Sussex? Bit of an Orro show

 

[Cycleops]

I think that is a good point, and maybe impacted by high second-hand volumes of 'posh' makes bought during covid?

Here's another 'posh' brand that isn't doing too well:

£34m in the red I believe.

 

[Grant Fondo]

£34m in the red I believe.

Hard to understand that when she flogs jeans at £500 a pair