LVMH Group is interested in expanding into the sports, wellness and leisure markets with cycling’s renown brand Pinarello. Based in Italy, Pinarello was founded by Nani Pinarell in 1952 and the company had its first Grand Tour victory in the 1975 Giro d’Italia with Fausto Bertoglio.
Pinarello confirmed it is “evaluating” the offer from LVMH Group.
“With reference to press leaks, the Pinarello family confirms that they have been evaluating, since a few years, different assets reinforcement options with a strong industrial base, in order to further strengthen the Pinarello brand in the world,” the statement read.
“The Pinarello family is not considering to exit the business and will continue to follow the company in its future growth, as it has always done and with the same passion.”
The company currently produces bicycles for the road, track and cyclo-cross, but its most high-end product is the F8 Dogma that costs from €10,000 to €12,000. The Italian brand is also involved in tourism and owns real-estate along with luxury holiday and travel brand Pinarello Travel and the Pinarello Granfondo ‘La Pina’.
The LVMH Group also owns Moet & Chandon champagne, Louis Vuitton, Fendi, Donna Karan and other luxury brands.