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Fox Factory’s annual revenues up 46%; execs see no letup

Fox Factory’s annual revenues up 46%; execs see no letup

DULUTH, Ga. (BRAIN) — Fox Factory executives said all orders for its OE bike products are pre-booked for 2022 and they expect no letup in…

Friday, Feb 25

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DULUTH, Ga. (BRAIN) — Fox Factory executives said all orders for its OE bike products are pre-booked for 2022 and they expect no letup in demand until next year or beyond.

Fox announced Thursday that its revenues last year hit $1.3 billion, a company record and a 45.9% increase over its 2020 sales.

On a call with investors, CEO Mike Dennison said bicycle factories will continue to demand Fox, Race Face, Marzocchi and Easton components well into the future.

“While you might see bikes starting to show up in dealer showrooms a little bit more frequently, and a little bit better selection, there is a whole system behind that, from distribution centers to hubs, regionally and internationally, that is still fundamentally empty,” he said. “So I think we’ve got several — multiple — months of demand just to deliver the pre-orders, and then you have 12 or 18 months of rebuilding inventory.”

And beyond that, he said Fox’s customers are confident that there will be “new, fresh demand” for bikes well after the inventory is rebuilt.

Dennison said Fox has not been a choke point in the supply chain. Rather, the company has to be careful not to overshoot factories’ ability to find the other parts needed to complete bikes.

“We’re doing a great job keeping up with our OEMs and the demand signal. The thing we always have to balance is what everybody else is doing: because, as much as we can build, if everybody else can’t keep up with us, bikes can’t be […]

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