BikeBiz Bicycle and cycling retail news
Brompton has launched online at John Lewis – marking an expansion into the retail sector for the British brand with its first department store retail partner.
From today, Monday, May 22, a range of Brompton bikes, along with some luggage and accessories will be available online at John Lewis.
The company says it is on a mission to create urban freedom for happier lives, helping to reduce traffic and air pollution in our cities. Expanding into a well-known retailer will help to take Brompton, and cycling more widely, to a larger audience.
A range of Brompton bikes will be available, including the Brompton C Line, Electric C Line, P Line, and Electric P Line.
Toby Marcham, head of UK and EMEA sales at Brompton said: ‘’We’re at a very exciting stage in our history at Brompton, having recently produced our millionth bike. The next million is in our sights as we look to deliver our aim of creating urban freedom for happier lives – helping to make our cities healthier and safer places to live.
‘’Working with another iconic British business to take our bikes to a wider audience is an exciting prospect.’’
This announcement comes as Brompton confirmed a first equity capital raise for 35 years from BGF.
This will see a £19 million investment from BGF and existing shareholders to accelerate innovation and scale up international growth.
Since 1975, Brompton has been independent, owned by the founder Andrew Ritchie, the current CEO Will Butler-Adams, their friends, family, and its staff.
It is understood that the investment values the company at around £180 million.
Read more: Scicon launches Aeroscope performance sunglasses, designed for adjustability
Will Butler-Adams, CEO at Brompton, said: “Over the last two decades, Brompton has grown organically at circa 20% a year, funded by reinvesting our profits. For the year ended March 2023, turnover grew 21% to £130m, supported by the launch of the Superlight T Line and Electric P Line products.
“We export 80% of our bikes to 46 countries, and in November 2022 made our one-millionth bike, a great achievement. But this is not enough, we need to move faster. The impact of Climate change is being felt by us all and the greatest carbon emissions come from our cities where most of the world’s population now lives.
“Our team at Brompton are brimming with ideas to accelerate our growth through product innovation, storytelling, outstanding stores and having fun with our amazing community. But if we are really going to go for it, we need to strengthen our balance sheet to give us the confidence to be more ambitious.”
