Naked ladies don't bring in enough pancetta.
This might or might not come as a surprise, but small volume, premium motorcycle manufacturer MV Agusta has escaped more financial turmoil with an investment that should allow it to unfold its master five-year plan. Guess naked ladies on sexy bikes are not enough to keep the dollar bills flowing.
MV Agusta will live to see another day—or at least another 1,825 days. The historical company has faced its share of turmoil over the past few years, saved from bankruptcy by a Russian investment group two years ago. MV Agusta has been playing the “very exclusive motorcycle” game but seems to be having a hard time setting the cinder blocks to support its luxury lifestyle, despite its 84-year legacy.
The Italian firm has now announced that a new investment by shareholders will allow it to develop new products as part of a five-year growth plan. The money comes out of the bank account of the Sardarov family, whose son, Timur Sardarov, was named CEO of MV Agusta in December 2018. Sardarov also recently added two members to his crew to help make his vision a reality. Massimo Bordi and Paolo Bettin were respectively named Executive Vice Chairman and CFO.
Sardarov confirmed in the statement that the investment will give the company the power it liquidity it needs to come up with a lineup of new middle and premium range models. The firm also plans to ramp up production, hoping to reach 25,000 units sold yearly by 2024. To achieve that, the company is planning to expand its distribution network in Europe, Asia, and the United States.
“Over the next five years, MV Agusta’s attention will be focused on developing the sales and service network, while investing in product development and maintaining its efforts in digitalization and technological innovation. We are committed to deliver the best products and continue to be a benchmark in motorcycle industry in quality, design and technology. Finally MV Agusta has all the tools to do so,” Sardarov commented.
MV AGUSTA SECURES FUNDING TO EXECUTE ITS 5 YEARS PLAN
Varese, 2nd October 2019 – The historic Italian company MV Agusta, a global player in the production of premium motorcycles, has just announced its 5 years business plan.
The capital to support the execution of the plan, as well as achieve the consolidation and growth of the company, is entirely provided by the Sardarov family, MV Agusta’s shareholder.
The business plan aims at reaching a sales volume of over 25,000 motorcycles in the 5-years frame along with investments in both a new premium and medium capacity range, which will enable the company to extend the availability of MV Agusta products to more customers, thereby significantly increasing sales volumes.
In the three-year period 2019-2021 the industrial plan also provides for a strong investment in the global distribution network, focused primarily on Europe, Asia and the USA.
MV Agusta is starting production of the new “Hyper-naked” model, the Brutale 1000 Serie Oro, voted “the most beautiful motorcycle in the show” at Eicma 2018 as well as the Superveloce 800 Serie Oro. Both models will be produced in only 300 units, all of which have been sold-out online in just a few days. They will be delivered to customers over the next months.
After becoming the new Chairman of the Board and CEO in December 2018, Timur Sardarov has put together a new top management structure and has brought Massimo Bordi and Paolo Bettin into MV Agusta team.
Massimo Bordi, a renowned engineer and manager in the industry, has been appointed to the position of Executive Vice Chairman. Paolo Bettin, who has strong records in the financial restructuring of several industrial companies, is the new CFO of MV Agusta, while Giovanni Castiglioni will maintain an advisory role.
Timur Sardarov commented: “Over the next five years, MV Agusta’s attention will be focused on developing the sales and service network, while investing in product development and maintaining its efforts in digitalization and technological innovation. We are committed to deliver the best products and continue to be a benchmark in motorcycle industry in quality, design and technology. Finally MV Agusta has all the tools to do so” Sardarov continued: “Together with the management, we are working diligently to execute the business plan and achieve our objectives which will require an increase of personnel and dedication from all at every level of the company. This will also positively impact the local community in terms of employment and benefit the Varese-area related industries.”