Wolff Pedelec Inc., electric bicycle manufacturer and retailer, is the newest business venture for Allan Kruger and his partner, Nick Vouloumanos. The two seasoned businessmen are riding high on the current surge in the electric bicycle industry. And with their additional start-up, Wolff Motion Control, they are developing a unique Canadian patented technology set to revolutionize the light electric vehicle industry. CEO Allan Kruger shares his insights.
WHY DID YOU START WOLFF PEDELEC INC.?
I entered the electrical bicycle business four years ago because I was looking for a useful, dynamic, and lifestyle-oriented industry in which our company could be a major player. I started Wolff Pedelec Inc. a year ago with my business partner, Nick Vouloumanos, as we firmly believe that the future of personal transportation devices lies in the light electric vehicle industry. The current pandemic and the global shift towards cleaner energies and means of transportation have only reinforced our views.
WHAT SETS WOLFF E-BIKES APART?
Wolff E-Bikes offer a unique combination of style, comfort, and performance, in addition to high-quality value-added components, at an affordable price point. We have a wide selection of models (named after constellations and stars) including city, hybrid, folding, tricycle, and fat tire bikes—in an array of gorgeous colours and with cool features!
WHAT IS THE GROWTH POTENTIAL OF THE E-BIKE INDUSTRY IN YOUR OPINION?
We are witnessing an explosive growth in this industry in North America, like what happened and continues to happen in Europe. The North American e-bike market was valued at USD 700 million in 2020, and it is expected to reach USD 1.44 billion by 2026. Wolff E-Bikes is positioned to be a premiere brand; we have grown continuously since we were established, and our range of e-bikes is currently available in top retail stores across Canada and the USA.
WHAT IS YOUR STRATEGY FOR NAVIGATING THE CURRENT WORLDWIDE SUPPLY CHAIN SHORTAGE?
I decided to take a bold stand last year by committing to our projected sales for the next two years and purchasing our inventory all at once. Therefore, we are in the coveted position of offering our clients immediate delivery and in-stock inventory. The biggest complaint we have heard from our retailers is the lack of continuity and inventory from other suppliers.
As an entrepreneur, I have a lot of empathy for anyone in business today, as it takes nerves of steel to deal with the highs and lows of the current supply chain. Hopefully, some regulations can be put into place to prevent such turbulent price irregularities.
WHAT MOTIVATES YOU MOST ABOUT YOUR COMPANY?
Firstly, I am thrilled to go to work in the morning and so is my team! Our industry is dynamic, promotes exercise and a healthy lifestyle and is geared (pun intended) towards zero emissions. Especially with the latter, I am glad to offer consumers a solution against climate change. Also, as a manufacturer and a retailer, I get so much satisfaction when I see clients leaving with excited smiles after testing and purchasing an e-bike.
In addition, my partners and I have started another company, Wolff Motion Control Inc., which is a game changer in the electric bike and light vehicle industry. This revolutionary transmission technology is truly exciting and the team at both Wolff entities is fully on board for this amazing ride!
Text: Nadia Sofia Segato