LeMond Not Happy with Marketing Deal
February 4th, 2005 by MikeWhen U.S. cycling legend Greg LeMond inked a multimillion-dollar deal in 1999 to put his name on a series of mass-marketed bike gear, he envisioned “LeMond” becoming a household name — comparable to “Calvin Klein” — he testified Monday.
But the three-time Tour de France winner’s product line didn’t fly off the shelves, and the manufacturer tried to dump the 10-year contract in 2003 through an e-mail that concluded LeMond was no Lance Armstrong. The company replaced LeMond’s brand with Schwinn.
Since LeMond retired from competitive cycling, Armstrong has won the Tour de France twice as many times as his countryman — six in a row beginning in 1999. Over the years, the two have sniped at each other in the European press.
But LeMond, 43, who lives in Medina, Minn., was in a St. Paul courtroom Monday telling a jury that neither his stardom nor his marketing appeal has been eclipsed by Armstrong.
LeMond’s Cycling Inc. sued New York bike accessory manufacturer PTI Holding Inc. in U.S. District Court for breach of contract in 2003.
LeMond said a lack of marketing — not Armstrong’s rising star — tanked his product line designed for discount retailers, including Target and Costco.
LeMond explained to the jury how he had hoped his accessory line would fill retailers’ shelves and bring in $30 million to $50 million in revenue. Read More





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Heck of a bike racer, that LeMond. His business dealings and marketing ideas were…… Heck of a bike racer, wasn’t he?