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news
Rapha Wiggins Hour jersey (picture Rapha.cc)Rapha reportedly appoints US-owned investment bank to advise on sale of business
Rapha has appointed a US-owned investment bank to advise on the sale of the business, reports Sky News.
William Blair, based in Chicago and with offices in cities around the world including London, will review the company's options.
While Sky News cites sources as saying that a stockmarket flotation was considered, a sale appears to be more likely.
The North London-based brand, which is backed by Active Private Equity, was reported before Christmas to have attracted the attention of L Catterton, a US investment firm part owned by French luxury goods powerhouse, LVMH.
L Catterton has subsequently bought Italian bike brand Pinarello, although nothing further has come of the rumoured Rapha deal.
> LVMH-backed private equity firm completes Pinarello purchase
More recently, it was reported that Active Private Equity was seeking to appoint advisors to handle a potential sale.
> Rapha owners reportedly seeking advisers to handle sale of business
At the end of last season, Rapha's four-year sponsorship of Team Sky came to an end.
> Rapha boss reveals why sponsorship of Team Sky ended
Despite Chris Froome winning the Tour de France in three of those four years, Rapha founder Simon Mottram said the deal had failed to engage fans the way the company had hoped it would.
Rapha's sales for the year to January are reported to be £63 million, a 30 per cent increase on the prior year.
International growth is the chief driver of the boom in sales, with the company now having 14 stores worldwide as well as mobile clubhouses in the UK, Europe ,Australia, Taiwan and Japan.
Simon joined road.cc as news editor in 2009 and is now the site’s community editor, acting as a link between the team producing the content and our readers. A law and languages graduate, published translator and former retail analyst, he has reported on issues as diverse as cycling-related court cases, anti-doping investigations, the latest developments in the bike industry and the sport’s biggest races. Now back in London full-time after 15 years living in Oxford and Cambridge, he loves cycling along the Thames but misses having his former riding buddy, Elodie the miniature schnauzer, in the basket in front of him.
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21 comments
Agree. ALWAYS by Rapha in the sale. I only have to wait 4-5 weeks until their next offer. I can't remember ever buying Rapha full price. Sure the prices will be slashed once Mike Ashley gets hold of it.
Rapha's no more or less expensive than other cycling gear of similar quality. In fact, they are getting like DFS for having a permanent sale - they always seem to have an offer on or a discount code available.
At the moment, you can get 25% off just for doing a survey. That makes a Core bundle of shorts + jersey £105. I doubt that's going to break the bank of most road.cc punters. Yes, I know Aldi gear is cheaper, but it's not very good. And the Decathlon or DHB stuff that is almost as good as Rapha Core is also almost the same price as Rapha Core. Same goes for the high end Rapha stuff and Castelli and Assos gear. Stuff that's the same quality is the same price.
I couldn't give a toss what the "image" is. Someone will always judge what you're wearing, no matter what it is.
I recommend Rapha clothes because they are often cheaper in the long term: many of their items are excellent quality, last for ages, are a good fit and some - e.g. bib shorts - are repaired for free. By the sounds of things it doesn't look like I'll fit in with either the supposed Rapha cliques nor the Rapha-hating brigade here. Maybe that's why I only ride solo... Last thing I want to be doing is debating any of this nonsense when I'm out enjoying a ride.
Spilled out into the open again, the Rapha culture wars has.
Stereotypes are potentially very noxious in that they can discourage us from considering the individuality of, well, individuals. But then again some stereotypes are harmless enough, and do seem to bear themselves out (inasmuch as the millions of exceptions prove the rule). The red-faced old vet in 20th-century amateur kit who thinks coming to a full stop where it reads "give way" is a criminal offense, and deviating an inch from your line should be a capital one; the off-duty deliveroo hipster who thouroughly enjoys guiding their bullhorns a gnat's whisker past the gap between mirrors at 30mph; the yuppie boho-chic basket-bike rider who rebels against the patriachal concepts of riding lanes and pedestrian priority on pavements; the infamous full-(pro-)kit wanker (been there, done that, bought the, umm, jersey); and Rapha folks. They tend to always go out in packs, sure, but they otherwise seem like decent people. Better having them on two (likely Enve or Zipp) wheels rather than (gasp) golfing.
But then again I could see myself joining that particular club, if they would just relax their stringent ban on waving (and, well, their prices).
A friend of mine wears Rapha....socks, was the only thing affordable.
Riders in Rapha don't have time to look down their noses at you, they are normally going too fast in other direction. I normally just have time to clock someone in a pink striped gilet and they are gone. I think a lot of the stigma come from plain jealousy, something about the price/speed/skinnyness/self-confidence that a Rapha wearer gives off... Most Rapha wearers are not fat bankers despite what some people want to think. Reverse snobbery, me thinks.
I wouldn't wear it because the fit wouldn't flatter me, but I do buy new Castellis, and wouldn't say no to £1000 of free Rapha kit even if you can see my bulges.
Less to do with jealousy for me, more the image that they've spent so much time and effort trying to cultivate. It's become a parody of itself. The fact you mention 'self-confidence that a Rapha wearer gives off', says a lot. There are a lot of people don't want to buy into that.
It's not about 'buying into' anything. If you're naturally confident, you will explore more, experiment more, have no fear about wearing good-looking, or attention-grabbing clothes, worry less about judgement and happily stick your head above the parapet and encourage others to do so.
It's right that confident people have brands that market goods to them. Rapha didn't create confident individuals, cycling culture or anything else, it was a market waiting to be tapped into.
Don't forget that we live on a small island and are still very socially conservative, inward looking and fearful of judgement. Most British sweat at the thought of buying a colourful jacket let alone something truly stylish. A lot of countries are free from those inhibitions. This isn't about Rapha, it's about people being tragically insecure - and it's our culture that's to blame.
I feel it at times too when shopping, I see something nice and then check myself thinking I'll get too much attention for it. Then I have to wrestle with the idea of the thing for a while. I would love to be free of that nonsense. Shouldn't even enter my head for a moment, I should be a bigger man, above all that, but I'm not, in honesty. I do try at least though and respect others who don't even give it a second thought. Kudos.
We need more brands like Rapha, and less middling brands that tell us we should all dress drab and conservatively in case we upset the Joneses.
could give you another excuse to not buy rapha
urrghhh: "upscale". what an ugly americanism. unless you mean the clothes are really large, why don't you use the perfectly good british english equivalent "upmarket" or "high end", or anything other than upscale.
I suspect it was deliberately chosen, due to an American firm being appointed. More than just a regurgitation of the Sky news piece.
(what size Rapha for Mike Ashley, I wonder?)
calm down.
The brand belongs to the vision of the owner.
Once thats changed then many things change and I fear for Rapha.
Rapha is not LV the demographic of buyers are very different.
If any brand can come along offering the most advanced clothing tec for adverse weather with suprior breathability togeher with amazing styling and affordable price then we will flying to that company.
Once again road.cc put up an article about Rapha and without fail the catty posters are on here like flies on sh*t with their cut and paste 'Rapha snobs' posts. Read what you've just typed - you're the fu*king snobs! Have you ever seen someone post 'oh I'd never wear that, I only wear Rapha'? Of course you haven't. Have you ever been dropped by a bunch of Rapha clad riders who've turned and scoffed at your Altura £30 bib shorts? Of course you haven't. I've never even met a rider in Rapha who's looked down their nose at me - but I've met far too many club kit bell ends or aluminium Giants of the road loaded with patronising comments or blanking those who they feel are below them. Get a grip. You're adults riding a bicycle.
I can see precisely zero 'Rapha snobs' posts. Cheer up mate.
haterz gonna hate
My standard winter top half clothing is a Rapha merino base layer with an Aldi Pro cycling jacket over it. I sometimes imagine my top layers having a heated debate as I cycle along. "Do go away you horrible oik!" "Ooh, get you Mr Lah di dah"
.
Are you sure you wanted to share that?
Clarke Kent on top, Superman underneath.
Not a chance.....it's obviously going to be Mr Ashley of Sports Direct, a nice add on to the Flannels business.
I wonder who the buyer will end up being.
Please let it be Lidl, please let it be Lidl, please let it be Lidl...
Oh the delicious irony