In the face of high inventory levels and reduced consumer demand, bike manufacturer Trek is looking to streamline its business model, a leaked memo from the company president suggests.
As reported by Bicycle Retailer last week, Trek is planning cuts in spending of 10% to "right size" the company, as well as a reduction in its number of product models by 40% by 2026. The measures come in what John Burke, the brand’s president, describes in a message to executives as "turbulent times in our business".
