The mountain bike brand YT Industries, that entered self-administration earlier this year, has announced that the buyback by its original founder Markus Flossmann is now complete. The new version of YT, that is based in Germany and will officially be called ‘Young Talent Industries GmbH’, has promised to rebuild trust with its customers, saying that all pending orders will be fulfilled after lengthy backlogs caused by the brand’s recent troubles. It also says almost its entire range is now back in stock.
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“After months of uncertainty, one thing is clear – YT has been saved”, boasts the press release, claiming that a new “leaner, more efficient” structure will once again focus on “what made YT great in the first place: uncompromising bikes at fair prices.”
“Back to the roots. This isn’t a marketing slogan, it’s a promise”, says Flossman.
“We’re focusing again on what made YT strong: uncompromising bikes, fair prices, and genuine passion for the sport. Rough, real, and authentic.”
To achieve this, YT says it will abandon its ‘Mill’ concept, essentially large showrooms ran by YT itself to showcase its bikes to the public. Instead, YT will be increasing its local service partners “to provide customers with even better support”. It says North America and the UK are key markets for the brand, where dedicated strategies are currently being developed.
YT addresses its recent customer service issues, promising that each and every order that couldn’t be fulfilled because of insolvency proceedings will be dealt with:
“For us, this is far more than just an administrative process. It’s about trust, responsibility, and credibility”, says Flossmann.
“Over the past months, we’ve worked tirelessly to review every open order from the former company and find solutions. Nearly all have now been fulfilled or refunded, with only a few remaining cases currently being finalised.”
YT has set up a dedicated email address for customers still chasing outstanding orders: stormsurvivor@yt-industries.com. For general service and warranty matters, it recommends emailing its global service centre at service@yt-industries.com.
YT says it is working with “limited available resources” but aims to resolve all outstanding cases of unfulfilled orders.
“This is my personal top priority. Every customer who placed their trust in YT will receive what they paid for. That’s always been my promise.” adds Flossmann.
Welcome news for YT fans, messy circumstances
While fans of YT’s bikes will rejoice at the news, the circumstances in which the brand went into self-administration left a bitter taste in the mouth of numerous former YT staff members, the vast majority of whom lost their jobs. Former employees took to Linkedin to give their side of the story, with one saying in October that “…basically everyone has been let go with little intention to bring anyone back.”
YT claims that “fundamental parts of the previous team are actively shaping the restart”, though the mention of a “leaner, more efficient” structure suggests that very few staff were retained.
“Markus Flossmann will soon personally share the full story of how YT found its way back after one of the most challenging chapters in its history”, says YT Industries.
YT says almost its entire range is now back in stock, and will start to appear online for UK and EU customers this month. The date for the US restocking is unconfirmed, but YT promises this will be happening soon. YT says orders are now handled exclusively through its new Young Talent Industries GmbH company, promising a “fully functioning” logistics and shipping network.
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