When VanMoof faced financial difficulties last year, it unfortunately left approximately 5,000 customers who had pre-ordered e-bikes in a difficult situation. Now that VanMoof is operating under new management, the company’s current owners are enticing those loyal customers with a generous €1,000 discount on a brand new bike.
This strategy is quite bold, as it relies on the assumption that dissatisfied customers will be so enamored with VanMoof’s bikes that they will be willing to spend a significant amount of money on them.
Prior to its unfortunate demise, VanMoof had requested customers make nearly full payments during pre-orders. This strategic approach aimed to provide the startup with sufficient working capital, but unfortunately led to extended delivery delays. The prices of the bikes range from €2,300 to €2,500, varying according to the specific model and year. 
The current models available are the S5, which features 27.5-inch wheels and a straight frame, and the A5, which has 24-inch wheels and a step-through frame. These models are priced at €3,298. Customers who wish to avail of this discount will be required to make an additional payment of €2,298 in addition to the amount they have already paid for their undelivered e-bike. In summary, the total cost of a single VanMoof bike would amount to approximately €5,600.
Clearly, it’s not a complete solution. We understand the importance of that,” Eliott Wertheimer, VanMoof’s co-CEO, expressed to Eltrys. Our perspective is that this gesture is aimed at assisting individuals who still have faith in [VanMoof] to get back on track.
Prior to its bankruptcy in July 2023, VanMoof had successfully secured nearly $200 million in venture capital and developed a devoted fan base with its cutting-edge, minimalist e-bikes. These bikes were meticulously designed and seamlessly operated through an integrated app. The startup had potential, but it fell short in terms of execution. With the utilization of custom components, the bicycles frequently experienced malfunctions, posing a challenge when it came to promptly acquiring suitable replacements. This was particularly problematic due to the absence of a reliable maintenance infrastructure. According to Wertheimer, the company utilized its VC funds to artificially decrease prices, which ultimately proved to be an unsustainable strategy.
In August 2023, Lavoie, a division of McLaren Applied, successfully acquired VanMoof, a prominent player in the e-scooter industry. Ever since, Lavoie has been dedicated to rebuilding VanMoof’s supply chain and establishing an extensive service network across Europe and certain parts of the U.S. Additionally, Lavoie has been focused on revitalizing VanMoof’s technical ecosystem, which includes its apps and website, as well as re-engineering the company’s core products. Put simply, VanMoof now boasts a lineup of e-bikes that are not only more dependable and easier to fix, but have also undergone rigorous testing and design refinement by McLaren.
We have moved beyond restructuring and restarting. “We’re discussing the process of re-establishing the brand and planning for its relaunch,” stated Wertheimer. Throughout this entire journey, we constantly thought about how we could assist those individuals who did not receive their bikes.
Evidently, the solution to that inquiry is to entice customers with discounts rather than refunding their money due to the ongoing bankruptcy proceedings. The money customers paid for their bikes, along with the bikes themselves, are part of the bankruptcy estate, according to Wertheimer’s statement to Eltrys. The Netherlands-based administrators are currently in charge of the estate. It implies that Lavoie does not have access to those funds.
Wertheimer explained that any assistance provided to customers who did not purchase their bikes from the previous company would have to be funded by their own resources. He emphasized that Lavoie could only afford up to €1,000 without jeopardizing their financial stability.
Additionally, it was pointed out by Wertheimer that the bankruptcy process is still in progress, and customers can expect to receive partial refunds once it is resolved. Considering the numerous secured creditors and priority unsecured creditors ahead of the customers, not to mention the legal fees associated with the bankruptcy process, it is unlikely that customers will see any immediate resolution.
If you’re interested in signing up for the discount, you can apply here, but be prepared for a slightly complicated process.
Upon assuming control of VanMoof, Lavoie encountered a challenge in accessing the company’s customer orders. This was primarily due to a disorganized back end and the data sharing limitations imposed by Europe’s GDPR regulation. Customers who wish to redeem their discount must contact VanMoof directly and provide supporting documentation to verify their order.
In addition, individuals will have to navigate the process of seeking a refund from their bank through a chargeback, if they have not done so already. VanMoof will only offer discounts to individuals who can provide evidence of their unsuccessful attempts to obtain a refund through this method.
If individuals are willing to adhere to the necessary procedures and make the required payment, they will have the opportunity to avail the discount until December 31, 2027.
The success of VanMoof’s strategy remains uncertain. It is undeniable that the success of the startup depends on its capacity to rebuild customer confidence and fulfill its commitments. Customers must weigh the appeal of a sleek, redesigned e-bike against its cost and the required effort, considering whether previous disappointments will deter them indefinitely.
