BikeBiz Bicycle and cycling retail news
Cycling Brands Limited, a UK-based specialist in cycling apparel, has announced the pre-launch of its fundraising campaign on Seedrs, aimed at accelerating growth in the wake of its acquisition of Prendas Ciclismo.
Launched in 2015, Cycling Brands was formed to build on the success of Shutt Velo Rapide with an ambition of acquiring and integrating additional brands to establish a portfolio of complementary companies.
In October 2021, it successfully acquired Prendas Ciclismo, a brand with a 25-year history.
Shutt Velo Rapide is a brand that specialises in designing and retailing high-performance cycling gear for enthusiasts.
Since its launch in 2009, the brand has maintained a focus on sustainability by using recycled materials and Italian manufacturing. It has also gained recognition for producing a range of custom kits for cycling clubs, teams, and events.
Prendas Ciclismo, founded in 1996, was established to cater to the needs of cyclists seeking stylish and functional cycling apparel.
The company is particularly renowned for reintroducing some of cycling’s best-known jerseys from the sport’s history.
Justin Belcher, the founder of Cycling Brands, said: “Our goal is to continue expanding the range of retro designs offered by Prendas Ciclismo and restore the platform to its former status as a go-to shop for Europe’s finest cycling brands.
“Additionally, we will continue to build the strength and exposure of the Shutt Velo Rapide brand and product offering and continue to expand our profitable custom clothing division.”
At the time of writing, the Seedrs fundraise has achieved a total of £71,999 from 91 investors. This represents 96% of the £75,002 target.
According to the Seedrs fundraising page, highlights for the business include a 745% increase in turnover between 2016 and 2022.
This is accompanied by a rise in gross profit of 1,300% in the same period (2016 to 2022).
