Investment to fund Scicon growth - BikeBiz

Investment to fund Scicon growth

Scicon receives capital injection to develop new products for cyclists.
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Italian company Scicon has announced that a recent capital investment will allow the brand to continue to develop a range of new cycling travel products.

The initial investment from capital firm South African Enterprise Development Proprietary Limited (SAED) has been utilised in the opening of a new 4,000 square meter complex in Northern Italy that will house offices and manufacturing facilities for Scicon and sister brand Ftech Custom Cycle Clothing.

On the subejct of the new base of operations, ASG Group founder and ASG's international CEO Heinrich Dannhauser commented: “With the arrival of SAED, ASG intends to capitalise on the group's strong position in South Africa and to accelerate international expansion and growth through a newly-established European headquarter in Italy, in a sector that provides exceptional growth opportunities."

Due to the new business strategy set out by the brand, and the opening of the European headquarters, ASG International is recruiting for over ten new positions inside the company, and will soon announce updated marketing activities to support the recent growth.

ASG International co-founder and CEO Massimo Fantin said: “We are pleased to welcome SAED, a highly reputable financial partner with whom we share a common vision to grow our brands. ASG International benefits from the [the investment from] SAED in the group, and enables our division to further invest in infrastructure, human resources, R&D and marketing. We will continue to develop innovative products and boost the promotion of our leading brand.”

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More information on Scicon can be found here.

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