Europe's Time Bicycles lands Little Rock headquarters
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Exposed carbon fiber on Time's new ADHX gravel bike. Photo courtesy of Time Bicycles
Arkansas is now home to yet another high-end bike brand: Time Bicycles.
- The European brand has been absent from the U.S. market for several years as it traded ownership.
- But its newest CEO, Tony Karklins, has made Little Rock its base of U.S. sales operations, where he plans to begin cultivating an American following.
Yes, and: In May the company released its first gravel bike, the ADHX, which Karklins hopes will appeal to the gravel-crazed U.S. consumer.
Context: He and other investors in Cardinal Cycling Group purchased Time Bicycles from French sporting goods maker Groupe Rossignol in early 2021, which had owned the brand since 2016.
- The purchase included Time's carbon-frame factory in Slovakia, trademark license and intellectual property for bikes and frames.
- The frames will continue to be manufactured in the 100,000-square-foot European factory, Karklins told Axios.
- In addition to being its headquarters, Little Rock will be Time’s warehouse and assembly location for North American sales.
The big picture: Time is money. The global bike market was estimated to be valued at nearly $60 billion in 2021 and is expected to have an annual growth rate of more than 8% through 2030.
- The U.S. alone imported more than 19 million bikes last year, valued at nearly $2 billion.
The bikes may not be made here, but Arkansas has been carving out a name in the global bike market for years.
- Karklins was responsible for setting up Spanish brand Orbea's U.S. headquarters in Little Rock in the early 2000s. Orbea moved its HQ from Little Rock to Boulder, Colorado, last year because of the city's "cycling culture."
- Allied Cycleworks, originally founded by Karklins, now makes bikes in Rogers.
Between the lines: Karklins isn't looking to flood the U.S. market with Time bikes.
- "We're for a pretty discriminating customer that knows what he wants," Karklins told Axios. "We appeal to people that want something that is for sure made in Europe."
- A complete Time bike ranges from $5,500 to $11,000, depending on the model, options and paint.
The intrigue: Karklins described the process of making Time bikes as more precise than mass-produced carbon frames that come from China or Taiwan. He compared the process to wings made by Boeing.
- The weaved carbon design is so precise, oftentimes it's left unpainted and made a part of the bike's design.
What to watch: Karklins said sales of Time bikes will likely be focused on larger markets first, then eventually middle America.