The founders of Café du Cycliste have sold a minority stake to entrepreneur Gregory Mager, co-founder of Maesa, a French beauty products incubator.
Café du Cycliste was founded in 2010 by Remi Clermont and Andre Stewart in a café near Cote d’Azur. With a current team of over 30, the brand has three standalone stores (in Nice, London and Mallorca) and a network of retail partners that sit alongside the brand’s own website.
Revenues in 2020 reportedly grew more than 50% and are projected to top €10 million in 2021.
“We are excited to welcome Greg as a new partner and board member,” said Andre Stewart and Remi Clermont in a statement.
“Greg brings immense experience with him, after scaling a beauty business, Maesa, from scratch to a US$350m company with seven offices and over 400 team members. Café du Cycliste can only benefit from this type of expertise.”
Oliver Brown, Café du Cycliste President, added “The brand’s authenticity and unique design philosophy has put it at the forefront of the strong growth within the cycling industry.
“And our deep roots in the outdoor world have allowed for a seamless crossover into both outdoor apparel and lifestyle fashion.”
Brown continued, “We’ve seen in the last few years how cycling is becoming more and more popular. Now is the perfect time to accelerate; and Greg will help us achieve this next stage of growth.”
Gregory Mager said “Andre, Remi, Oliver and the team have built a remarkable brand with a unique style that crosses over from the traditional cycling community. Café du Cycliste is now a mature outdoor brand with incredible attention to detail and unrivalled quality.”
Mager continued, “Having reviewed many companies in the space, Café du Cycliste definitely caught my eye. I found extraordinary growth and profitability levels within the brand, and I am looking forward to helping them accelerate growth even further and reach new heights.”
www.cafeducycliste.com
www.maesa.com
