Bicycle tire startup reTyre faced an enviable problem in 2020 – its innovative changeable tires were far too popular. “We’ve been sold out of almost all our products. Our entire stock flew off the shelves and we ran out in October,” says reTyre COO Alexander Gjendem Gjørven.
Demand exploded during the pandemic
Every week, reTyre is contacted by companies from across the globe. Canada, Greenland and South Korea are all major markets in addition to the Nordic countries. reTyre’s average customers are e-bike owners who do not want to spend time changing tires. Last autumn, demand exploded.
reTyre represents a fundamental advance in bicycle tires, which may explain its massive appeal. “reTyre is the 2.0 version of the bicycle tire,” says Founder and CEO Paul Magne Amundsen.
Environment-friendly production and disposal
reTyre recycles all of its products through a unique deposit scheme, where customers can return their used tires. This ensures that as much as 80 per cent of the tire’s rubber is reused to make new tires. But the environmental savings start much earlier, at the production stage.
reTyre’s brand ambassador, Olympic medallist and former professional cyclist Dag Otto Lauritzen, echoes Gjørven’s sentiments: “reTyre makes year-round cycling safer and easier, and you don’t need to have any knowledge about bikes in order to change these tires yourself.”
Major market potential for “bicycle tire 2.0”
The company has recently entered into a production agreement with the German-Austrian industrial group KRAIBURG, which has over 2 400 employees and revenues of some EUR 540 million.
“KRAIBURG is a world leader in material development, material recycling and tire tread production. The match could not have been better for us, since we’re very focused on the sustainability of our products. Our order books are full and we’re really looking forward to the future,” says CEO Amundsen.
Read the full article at The Explorer.