Euretco Tweewielers B.V. increased its turnover in Benelux by 48.3percent compared with the same period last year. This is mainly due to the takeover of buying groups Veloring Benelux and Veloring Germany in March of this year.
Veloring Germany has now been restructured and renamed Euretco Zweirad GmbH with the objective of launching the shop formula Profile der Fahrradspezialist (the German equivalent of Profile the Bike Specialist) on the German market in September 2003.
According to German market research company GfK, the Dutch bicycle sector as a whole noted a decrease in turnover of 8 percent in the first six months of 2003
The smaller shops within Euretco's Profile the Bike Specialist formula are the ones suffering the most.
IBDs with annual turnovers of 280 000 or below contracted by-2.2 percent. Those with turnovers of 280 000 to 650 000 grew by 2.7 percent, and those with turnovers in excess of 650 000 experienced growth of 4.5 percent.