Popular bike company, VanMoof, has pulled the brakes on their sales and deferred payments. Now, Marktplaats is flooded with dirt-cheap e-bike offers. Is this the end of the road for one of Amsterdam’s favourite two-wheelers?
Until recently, VanMoof e-bikes were about as prolific in hip Dutch cities as seagulls, mice, and oat milk cappuccinos.
But the common creature that is the VanMoof is starting to go extinct, making a mass migration to Marktplaats. Here’s why:
Where’s the money?
Despite its expensive looks, the decidedly “hip” Amsterdam bicycle brand appears to be in financial difficulty. The company was allowed to postpone a payment after they requested an extension, RTL Nieuws reports.
While this deferred payment has bought them some time, administrators are left frantically scrambling to help the company “find a solution to the problems” to stave off bankruptcy.
Thanks to investors, the company was catapulted into international fame after its founding in 2009. By 2021, they were bringing in 83 million euros.
Unbelievable, right? So much so that it turns out they were also losing “no less than 87 million” that same year, according to RTL Nieuws. Jammer.
New item listed for sale
The news that VanMoof brought the sales of new bicycles to a halt has really ground peoples’ gears. Not a good look.
In fact, not only are sales coming to a halt, but people are actually selling on their beautiful, albeit flawed VanMoofs. Since Monday, there has been a 33% increase in VanMoof bike advertisements on Marktplaats. But why?
Because word on the street says VanMoof can no longer afford to cover the maintenance and repairs customers need for the e-bikes’ unique, custom-made parts.
The fear is that old reliable bike repair shops like Kwikfit will demand that customers cough up the cash themselves.
To make matters worse, complaints about VanMoof’s e-bikes being sketchy, and falling apart easily began circling around on social media a couple of years ago.
@VanMoof Really disappointed in the service and bike. Bike arrived broken, 5 day wait for every correspondence (standard). Bike part sent but told no idea when it will arrive. Paying for bike and never riden ! Basket ordered – no correspondence. A month on & still waiting #ebike
— Liz Crichton (@IHeartManhattan) October 21, 2021
Regardless of the tarnished reputation, customers scrolling through Marktplaats are reportedly still taking the bait and showing lots of interest.
It could be because the listings are as cheap as chips. In this economy, who could blame them? 🤷♀️
READ MORE | Meet Upway: the new online marketplace for refurbished e-bikes (that won’t make your wallet cry)
Will VanMoof survive? It’s down to any investors/people with money who can find it in their hearts to help them stay afloat. *Cough* Does anyone want to start a GoFundMe?
Is this potential bankruptcy justified or a cruel tragedy? Share your thoughts in the comments below!
Old reliable bike repair shops like Kwikfit ?
Quality of Van Moofs is atrocious. Fantastic marketing. Below average, overpriced bike. Wish I’d never bought mine.