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Accell Group

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Accell Group - Food & Beverages showcase

Year Founded & Workforce

1983

3,500 Employees

Industry

Food & Beverages

Services

Fitness/Sports Equipment (TUNTURI NEW FITNESS B.V.)
A

Accell Group Employee Contacts

13 verified contactsNames, job titles, seniority and locations

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Accell Group Overview

Company Headquarters: Heerenveen, The Netherlands

Founded: 1983

Workforce: ~3500

Company Working: Accell Group is one of the leading manufacturers of bicycles and fitness equipment for home and commercial applications. The company actively manufactures, designs, develops, markets, and trades its products and accessories to fitness enthusiasts. Accell Group markets its products in several European nations such as Germany and the Netherlands among other nations. The company is in the leading position in the European e-bikes market, and in the second position in accessories, and cycle parts. The company still uses its entrepreneurial spirit, to uphold the momentum of the market. Accell Group also pushes itself to produce cutting-edge, and high-quality products with high performance that is mainly driven by the continuous exchange of craftsmanship and expertise. The company has also several established brands that operate in the market. The company has a presence in approximately 15 nations across the globe.

Tunturi New Fitness B.V. is one of the subsidiaries and brands (Tunuri) of Accell Group and is a pioneer in fitness equipment. Tunuri was established in 1922, and it revolutionized the global fitness industry, by launching the first exercise bike ergometer for home application, in 1969 across the globe. The company is functional as a fitness equipment manufacturer and offers various equipment such as rowers, minibikes, gym balls, sprinter bikes, aero bikes, treadmills, handgrips, and mats. Tunturi also offers various equipment for training in strength, weight bench pressing, cardio, core training, running, and many more. The company has been operating for the past 100 years. Tunuri has also introduced its newer Tunturi Training app, a pocket-sized personal fitness trainer. The training app introduced by the company has a collection of ready-made workouts, more than 5,000 exercises, virtual group lessons along with the individual workouts, and a lively community for providing recommendations and feedback.

Strategy

Accell Group is continuously focusing on the innovation of its product portfolio with sustainable offerings. The company is also looking to the adaptation of cutting-edge technologies, high-quality raw materials, new models for business, and new processes for production. The company is also focusing on the development of a healthy work environment for its employees and also works on the creation of a stronger supply and distribution network across the globe. The key approach of the Accell Group is 'Lead global. Win Local” mainly consists of six strategic pillars that are consumer-centric omnichannel, and lead globally. Accell Group keeps updating the designs and approaches for sales and marketing to gain momentum in the market. The company has a major market for its fitness equipment in the US, Canada, and the European Union. The fitness equipment offered by the company is treadmills, cross trainers, steppers, halters for indoor, and spinners for home as well as commercial fitness. The company delivers its products via specialized distributors, and retail trade under several brand names.

Company Snapshot

$1,592.41M

Revenue

3,500

Employees

1983

Founded

Heerenveen, The Netherlands

Headquarters

SWOT Analysis

Strengths

  • The superior quality products and services offered by the company are aiding in a further surge in its market share across the globe
  • The company has a robust footprint in the domestic market along with strong awareness regarding the brands and brand equity
  • The company is a highly successful track record of product launches

Weaknesses

  • The company is not managing the cash cycle and inventory in an efficient manner
  • The company has a low return on investment and is unable to tackle the challenges created by the local as well as global players

Opportunities

  • An increased focus on E-commerce and social media for retailing and advertisement may create growth prospects for the company
  • Collaborations with local producers can provide opportunities for the company

Threats

  • The company has focused for its next growth phase on the Chinese market, however, the increasing conflicts between Chin and the US trade relationship can be a major threat
  • The entrance of new players can also be a threat to the company as they are offering better products at lesser price

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Key Developments

DateApproachDevelopment
September, 2022Merger & AcquisitionTunturi completely acquired First-Degree Fitness Europe B.V. This strategic acquisition expanded the distribution network and product portfolio of companies in Europe, and the Middle East & Africa (EMEA).

Product Offering

  • Accell Group
    • Fitness/Sports Equipment (TUNTURI NEW FITNESS B.V.)

Financial Performance

Explore key financial metrics, segmented revenue, balance sheet health, and performance trends.

By Business Segment: Sales fell from USD 1,592.4 Mn in 2020 to USD 1,559.4 Mn in 2021.
Accell Group — By Business Segment
Series (USD Mn)20202021
Sales1,592.41,559.4

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