GT Bicycles, one of the most iconic brands in the U.S. cycling industry, has announced a halt to new product releases as it restructures its operations and downsizes its workforce. The company, which is marking its 52nd year in business, is also parting ways with its sponsored athletes as it reassesses its path forward.
Jason Schiers, company director of GT Bicycles, confirmed the layoffs to Bicycle Retailer and Industry News (BRAIN), stating that reductions would be implemented before the year’s end. However, Schiers emphasized that GT plans to continue operating into 2025.
In late 2022, GT Bicycles separated from Cycle Sports Group and established itself as a standalone entity under the ownership of Pon Holdings. This transition marked the beginning of the company’s strategic realignment. A spokesperson for GT stated that the company was focusing on “core strengths” in order to “position GT for long-term growth.” The statement further clarified that while new product releases are paused, existing inventory will continue to be sold, and warranty and customer services will be managed by Cycling Sports Group.
“GT Bicycles remains a brand with strong potential,” the statement read, noting that the decision was made to lay a “solid foundation” for the company’s next phase. The announcement comes as the company navigates evolving customer preferences and strives to adapt to an increasingly competitive market.
GT Bicycles is best known for its innovative ‘triple triangle’ frame design, which has made its mark in both the BMX and mountain biking communities. The company also has a significant presence in the gravel bike market, with its Grade model available in several iterations. Over the years, GT has sponsored athletes and teams across various disciplines, including the famed Jelly Belly road team in 2007-2008 and the US Postal Service team in the 1990s.
Despite its success in various cycling sectors, the brand’s pivot away from sponsorships has sparked concern among some of its sponsored athletes. Phil Kmetz, a well-known figure in the BMX and MTB world and host of the Skills With Phil YouTube channel, expressed disappointment on social media following a meeting with Pon Holdings. In a short video posted online, Kmetz revealed that he and other sponsored athletes were informed that GT would be pausing operations once its remaining inventory was sold.
“We were just informed that GT is going to be no more,” Kmetz said. “Pon is not shutting it down, they’re going to sell off the inventory, and then once that inventory is done, they’re going to pause the brand. It’s a bummer.”
As GT Bicycles faces an uncertain future, it remains to be seen how the brand will navigate the current challenges and whether it will return to prominence in the cycling industry. For now, its focus will be on managing the inventory, restructuring the company, and planning for its next steps in the ever-evolving cycling market.
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