Campagnolo's attempted comeback took another step today with the announcement that Matteo Cassina will join the company's board of directors. Cassina, who previously had a career in finance with companies like Goldman Sachs, Citadel and Nasdaq Europe, is the majority owner of Rouleur and high-end framebuilder Passoni, as well as an investor in Zwift and the cycling creative agency Conductor.
Campagnolo said the move bolsters the company's position as it navigates the post-COVID-19 bike boom and bust. The company had struggled in recent years, losing market share in its flagship high-end road segment as bike brands increasingly opted for Shimano and SRAM groupsets; it's relatively rare to find a stock bike equipped with Campagnolo. The brand's high-end road visibility has also taken a hit as its presence in the WorldTour dwindled to a single team, Cofidis, which is now relegated to the sport's second division. And a 2023 overhaul of its electronic Super Record Wireless group fell so flat the company quickly followed with a significant refresh last year.
Ronan Mc Laughlin
According to the company's own financial reports, it saw a 39% decline in revenue from 2023-2024, marking an operating loss of €15 million in 2024. As the newsletter Money In Sport noted in a recent post on the bike industry's health, that was an outlier among otherwise stable Italian bike brands.
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