Among market turmoil, Colnago boasts €55 million in sales: CEO shares the brand’s secret

Colnago’s growth has tripled since the brand’s acquisition by new majority stakeholders in 2020 and seems impervious to the downturn

Colnago's Gioiello road bike is a C68 frameset with a special edition gold paint scheme
(Image credit: Colnago)

In a market riddled with economic uncertainty, Italian bicycle manufacturer Colnago bucks the trend with standout financial success.

The company's 2023 financial statements, shared with Cycling Weekly, reveal noteworthy figures: sales soaring to €55,715,101 in 2023 –which is up 33% from the previous year– and an EBITDA (the operating profit before deductions) of €14,015,100. The company's net profit has surged by an impressive 152%, indicating a significant growth trajectory for the company, which has tripled its growth since the brand's acquisition by new majority stakeholders, the UAE-based Chimera Investments LLC, in 2020.

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Anne-Marije Rook
North American Editor

Cycling Weekly's North American Editor, Anne-Marije Rook is old school. She holds a degree in journalism and started out as a newspaper reporter — in print! She can even be seen bringing a pen and notepad to the press conference.

Originally from The Netherlands, she grew up a bike commuter and didn't find bike racing until her early twenties when living in Seattle, Washington. Strengthened by the many miles spent darting around Seattle's hilly streets on a steel single speed, Rook's progression in the sport was a quick one. As she competed at the elite level, her journalism career followed, and soon she became a full-time cycling journalist. She's now been a cycling journalist for 11 years.