Triumph

An iconic British motorcycle maker sought a financing solution that allowed them to expand internationally without tying up their cash flow.

Triumph's Challenge

One of the oldest and best-known names in the motorcycle industry, Triumph started making motorbikes in 1902. In the 1950s and 60s, sleek three-cylinder models like the Bonneville made the Triumph name synonymous with the ultimate riding experience.

In the 1990s, Triumph began an ambitious expansion of its international dealer network - making a priority of keeping these dealers fully stocked to meet increasing demand. For each dealer that stocked Triumph’s full line of products, however, the company had to tie up at times more than £125,000 of its working capital. The diversion of such large sums to inventory was impeding Triumph’s investment in its core business.

To unlock the capital trapped in Triumph’s expanding distribution channel, the company needed a financing partner to take responsibility for keeping its dealer network stocked.

GE Capital’s Strategy

GE Capital offered Triumph a solution that enables the company’s dealers to carry enough inventory to meet customer demand, whilst giving the company itself the working capital it needs to grow. In addition, with over 25 years of experience in distribution finance for the motorcycle industry, GE Capital provides a deep understanding of emerging industry trends.

Steve Reynolds, a 13-year GE Capital veteran and a Motorsports industry Relationship Executive at GE Capital Europe, consults closely with Triumph on their marketing and distribution strategies. Reynolds meets regularly with Triumph’s leadership team and coordinates GE Capital’s relationships with Triumph’s subsidiaries across the globe.

Outside of Europe, other local GE Capital teams use their deep industry knowledge to support Triumph's global dealer networks. As one example, GE Capital's Motorsports industry team in the US, including Paul Puma and Jeff Pike, support Triumph and its dealers across that country - where Triumph continues to gain market share.

The Results

GE Capital’s innovative strategy has been a great success. By providing financing in key markets and allowing Triumph to focus on its core business, GE Capital has helped the company show dramatic growth. Over the last 16 years, Triumph has increased production of its motorbikes tenfold, expanded its sales reach from three countries to 35, and grown its distribution network to over 700 dealers globally.

As GE Capital and Triumph continue their partnership, GE Capital is also Triumph’s exclusive finance provider in Sweden, Finland, Norway and Denmark.