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Cycling News

Sport

Stephen Farrand

Discounting raises Canyon’s sales by 23% but sparks a €2m million loss

A detail of the Canyon Alpecin-Deceuninck race bike .

Bike brand Canyon enjoyed a 23% rise in sales during the first nine months of 2023 but partial results by key stakeholder GBL revealed a surprise loss of €2 million, contributing nothing to GBL's results for the nine-month period.

This is down from a profit of €29m for the same period in 2022 according to GBL.

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