VanMoof, an e-bike startup that declared bankruptcy last year, is attempting to win back its jilted customers by offering a €1,000 discount on new bikes. This audacious strategy relies on the assumption that these customers still believe in VanMoof and are willing to invest more money in their products. Before its bankruptcy, VanMoof asked customers to pay almost the full amount upfront, resulting in long wait times for delivery. The bikes were priced between €2,300 and €2,500, but today’s models cost €3,298. Therefore, customers who take advantage of the discount will have to pay an additional €2,298, bringing the total cost to around €5,600 for one bike.
Eliott Wertheimer, VanMoof’s co-CEO, acknowledges that the discount is not a complete resolution but sees it as a gesture to help loyal customers get back on the road. VanMoof had gained a cult following for its sleek and trendy e-bikes but struggled with execution due to bike parts breaking and a lack of robust servicing networks. After acquiring VanMoof in 2023, Lavoie, a division of McLaren Applied, worked to re-establish VanMoof’s supply chain, set up a service network, and improve the bikes’ reliability and repairability.
The decision to offer discounts instead of refunds is due to the money and bikes being part of the bankruptcy estate managed by administrators in the Netherlands. Wertheimer confirms that Lavoie does not have access to those funds and any support for customers must come from their own pocket. Customers may still receive partial refunds through the bankruptcy process once it’s resolved, but the timeline and amounts are uncertain.
To claim the discount, customers must apply directly to VanMoof and provide documentation as proof of their order. They must also attempt to get a refund from their bank through a chargeback, if they haven’t already. The discount offer is valid until December 31, 2027.
VanMoof’s future success depends on its ability to regain customer trust and deliver on its promises. Customers must weigh the allure of a re-engineered e-bike against the price and effort involved, considering the startup’s past failures. Only time will tell if VanMoof’s strategy will pay off and bring back its loyal customers.