As The Hut Group acquires cycling specialist Pro Bike Kit from Encore Capital, Retail Week takes a look at the online retailer’s business.
- Online retailer Pro Bike Kit specialises in road cycling accessories. Its core products consists of accessories, components, such as gears and brakes, clothing, tyres and tubes, bike frames and sports nutrition products.
- The etailer was set up in 1998 and is headquartered in Cheshire.
- Private equity firm Encore Capital took a majority stake in Pro Bike Kit in December 2011 for an undisclosed sum. Encore brought in former M and M Direct chief executive, and current B&Q customer director, Steve Robinson as chairman.
- The etailer said in December 2011 that it expected to deliver sales of £20m last year.
- Encore was plotting store openings for the online retailer. It is unclear whether The Hut Group will continue with these plans.
- Pro Bike Kit faces stiff competition from online retailers including Wiggle and Chain Reaction Cycles. However, the cycling market is growing at 15% per annum.
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