B2B News | Source: press release CAKE | In February of 2024, CAKE, the renowned Swedish manufacturer of high-quality, lightweight electric mopeds and motorcycles, declared bankruptcy. However, Brages Holding AS from Norway stepped in and obtained the brand’s intellectual property. A newly formed team has since taken over, and they are now revealing some of their early strategies for the future of CAKE.
Espen Digernes, owner of Brages, on why they acquired CAKE:
“As a car dealer in Norway, we’ve observed firsthand how rapidly the shift to electrification can occur when people are determined. We now foresee a similar acceleration in the micro-mobility sector, encompassing not just motorbikes but also scooters, mopeds, and electric bikes. When we initially partnered with CAKE as a retailer, we were captivated by their products—their design, craftsmanship, and the story behind the brand.
Our objective in acquiring CAKE is to advance the brand. We intend to expand CAKE by developing a strong retail distribution network, turning an impressive Swedish venture into a thriving Scandinavian achievement.”
Since the acquisition in March, a strategic business plan has been developed for the new CAKE. This ambitious endeavor seeks to dominate the premium electric two-wheeler market in specific regions. Simultaneously, we aim to maintain the brand’s passion and enthusiasm through our dedicated CAKE team and loyal community of riders.
At present, a dedicated core team, which includes essential staff from the previous CAKE organization, is diligently working to create high-performance products with unique designs that captivate customers and push us closer to a zero-emission future. This team is headed by Petra Färm, the former CTO of CAKE:
“It is an honor to be part of the next chapter in the CAKE journey. The original journey of CAKE was on the brink of success. However, there was obviously a need to pivot in certain strategic areas, and I believe there is great potential now in making these changes to evolve CAKE into a profitable company.
When we began scouting for members of the new core team, we discovered that there was still so much love and passion for the brand. CAKE has a legacy of being something different, and we plan to keep it that way. Our products are built to last; every detail, down to the smallest component, is carefully engineered and thoughtfully designed. CAKE is a strong brand with immense appeal and premium products. We have everything we need to be an important player in the transition to more sustainable urban mobility solutions.”
The CAKE headquarters and brand store in Stockholm have reopened with our core team, and already produced bikes are available for sale.
