LAS VEGAS, NV (BRAIN)—Guru’s ownership group has entered into a new partnership with an investor group led by Ted Matthews.
“We’ve been trying to expand for years now,” said Tony Giannascoli (pictured), president of Guru. “We need the experience. We need the know how. We partnered with an individual who comes from the consumer electronics business. He ran a very successful company. Our future on a go forward basis looks very bright. We’re going to have the funds to expand. We’re going to have the funds to invest in marketing, in production, in new equipment, new staff. And he’s going to help us with the structure.”
Matthews said he chose invest in Guru because he sees a strong potential for growth. “We are excited to play a role in fueling that growth and allowing the brand to become the leading manufacturer of custom bikes in the world,” Matthews said.
Guru is showing off a couple new bikes for 2010.
The ultra-light Photon features a fully integrated seatpost and for a 54-centimeter frame weighing in at about 747 grams.
“If you cut the post down it’s about 688 grams,” Giannascoli said. “That’s a performance machine. It’s super stiff. It’s being road tested right now. The reviews so far are just outrageous.” Suggested retail is $4,900.
Guru also came out with the Crono 2.0. “What we did with this particular bike is make it as aerodynamic as we possibly can within the UCI rules,” Giannascoli said.
As far as business in 2009 is concerned, Giannascoli said there was some retraction. “It was obviously a difficult year with the economy,” he said. “2010 looks very promising. We already have tons of distributors. We have retailers contacting us wanting to buy our new products.”
These bikes can be seen at Booth 1352.
—Jason Norman
