Growing Preston cycling firm targets Oz in expansion plan
Preston-based bicycles specialist Ribble Cycles has set its sights Down Under as part of an international expansion plan.
The company, founded in Lancashire 1897, will expand its offering to Australia – bringing its bespoke offering of carbon road bikes to the Asia Pacific market.
The plans coincide with the appointment of Jon Owen as chief executive officer and Matthew Lawson as chief digital officer, both of whom joined the bicycle retailer at the start of this year.
Ribble Cycles, owned by retail and consumer sector specialist private equity firm True Capital, specialise in carbon road bikes which are fully customisable and designed in-house.
As well as manufacturing its own products, Ribble also supplies high performance bicycle parts from the world’s top cycling brands.
The company reported a turnover of £16.8m in the previous financial year; the business continues to invest into the continued growth of the business, including the redesigned, innovative new website: www.ribblecycles.co.uk
It features a customisable bike building tool giving customers thousands of options when creating their dream.
Mr Lawson said: “We’ve had fantastic domestic growth here in the UK. Now, it’s time to make Ribble Cycles a global brand.
“Australia was an obvious choice for our first venture overseas, with its established cycling culture and market growth thanks to improvements in city cycling infrastructure.
“We look forward to bringing our range, value and quality to the Australian consumer.”
Ribble Cycles has its base at Walton Summit but previously operated from a shop in Water Lane Preston. In November 2015 True Capital bought out parent company Cyclesport North Limited.