California-based retail powerhouse Mike’s Bikes, which joined the Pon.Bike portfolio last August, has made a significant move in the Denver market by acquiring Elevation Cycles, a four-store chain with a strong presence in the region, including Highlands Ranch. This acquisition signals a notable shift in the Denver bicycle retail landscape, particularly for customers in and around Highlands Ranch looking for diverse bike sources.
Elevation Cycles, established in 2012, has deep roots with Trek Bicycles. Founded by a former Trek employee and partners, the chain started its journey by acquiring a former Bicycle Pedal’r store in Highlands Ranch. This early connection with Trek was further solidified by the prominent display of the Trek logo at some store locations and a brief ownership of a Boulder store that eventually became a Trek corporate store. Despite this close association, Elevation Cycles has always operated independently from Trek Bicycle, offering a variety of brands including Trek, Pivot, Giant, and Kona prior to the Mike’s Bikes acquisition.
With the acquisition by Mike’s Bikes, which finalized recently, significant changes are on the horizon for Elevation Cycles’ brand offerings. While previously a source for Trek bikes, the stores will now feature brands under the Pon.Bike umbrella, such as Cannondale, alongside Giant and Orbea. Notably, Trek bikes will no longer be available at these locations.
According to Ken Martin, president of Mike’s Bikes, the decision to discontinue selling Trek was initiated by Trek themselves. “We were fully prepared to be a Trek dealer in Denver, but they decided to not move forward with that, which I understand,” Martin stated in an interview with BRAIN. This decision mirrors a similar move by Specialized, which ended its relationship with Mike’s Bikes after the Pon acquisition, opting out of business with a perceived competitor.
Interestingly, even as Trek appears to be stepping back from its partnership with Elevation, the company is actively recruiting for retail positions in Highlands Ranch and Denver. These job postings suggest that Trek may be planning to establish a company-owned store in Highlands Ranch, potentially increasing competition in an area where cyclists already have choices like Specialized’s Bike Source.
“I’ve seen those ads, I assume they are planning to open a store in Highlands Ranch, which is great,” Martin commented. “If Highlands Ranch becomes the epicenter of bike retail in the Denver region, that could draw in a lot of consumers.” This potential influx of bike retail options in Highlands Ranch could be beneficial for consumers seeking a wide range of bike sources and services.
It’s worth noting that Specialized already has a strong foothold in Highlands Ranch with one of its four Colorado Bike Source locations, acquired last November. This existing presence, combined with the potential entry of a Trek store and the revamped Elevation Cycles under Mike’s Bikes, positions Highlands Ranch as a key battleground in the Denver bike retail market.
Pon.Bike’s brand portfolio is extensive, including Cervelo, Santa Cruz, Juliana, Gazelle, and the former Dorel Sports brands Cannondale, Schwinn, GT, and Mongoose. The four Colorado stores acquired from Elevation Cycles—two in Denver, one in Parker, and the crucial Highlands Ranch location—will follow the model of the 14 Mike’s Bikes stores in California by offering a blend of Pon-owned brands and other select brands. This strategy aims to provide a diverse bike source for customers while maintaining the unique identity of Mike’s Bikes.
“It’s super important to us to maintain authenticity and not become a corporate bike shop; that’s my worst nightmare,” Martin emphasized, highlighting the company’s commitment to preserving the customer-focused approach that has defined Mike’s Bikes. The company is still evaluating whether the Colorado stores will be rebranded as Mike’s Bikes.
Elevation Cycles was previously owned by Tyler Pilger and Philip Brown. Pilger directed inquiries about the acquisition to Ken Martin. When asked about future acquisitions, Martin hinted at further expansion, stating, “of course there are,” suggesting that Mike’s Bikes is poised for continued growth in the competitive bike retail sector. For cyclists in Highlands Ranch and the wider Denver area, this acquisition promises an evolving landscape of bike sources and options.
