Historic Milanese bike brand Cinelli sold to US fund Asobi Ventures

Cinelli, the iconic Milanese bicycle brand founded in 1947 by former professional cyclist Cino Cinelli, has been sold to Asobi Ventures, a US investment fund led by Texas fashion manager Victor Luis. The deal also includes Columbus, the historic tube manufacturer. Antonio Colombo, President of Gruppo Srl which controls both brands, retains a stake and an active role in creative and strategic direction. Colombo, known in the art world for running the Antonio Colombo Arte Contemporanea gallery in Milan since the late 1990s, will ensure continuity of the brand's identity. Production and development centers will remain in Italy. Cinelli has collaborated with major designers since 1979, including Alessandro Mendini, Italo Lupi, and Denis Santachiara. Iconic models include the Laser, winner of a Compasso d'Oro, and the Rampichino, Europe's first mountain bike (1991). The acquisition aims to expand into sportswear and accessories, targeting revenue growth from €8-9 million to €15-20 million next year. Colombo expressed confidence in Luis's understanding of his vision to blend cycling with art, culture, design, technology, and competition.