The boss of Brompton Bicycle has predicted that 2025 will be another year of turmoil for the bike industry after profits at the British folding bicycle maker dived by more than 99% amid a wave of discounting by rivals. Profits fell from £10.7m to £4,602 in the year to the end of March 2024 – less than the cost of Brompton’s top-of-the-range T Line Explore bike – as riders sought cheaper options during a cost of living squeeze. Sales at the company based in Greenford, Middlesex – whose cheapest model costs almost £1,000 – fell 5.3% to £122.6m as it sold 8.2% fewer bikes, according to accounts filed at Companies House this week.
Many bike shops have been forced to close or significantly reduce their operations due to financial difficulties.
The Rise of the Bike Industry
The bike industry has experienced a significant surge in popularity over the past decade, driven by the growing awareness of the importance of cycling for physical and mental health.
The company has been forced to close several of its retail stores and lay off staff.
The Brompton Bicycle Company: A Legacy of Innovation and Resilience
A Brief History of Brompton
The Brompton Bicycle Company was founded in 1968 by James Starley, a renowned British inventor and entrepreneur. Starley, who is often credited with inventing the modern bicycle, had a vision to create a unique and practical folding bicycle that could be easily transported and stored.
Brompton has also been investing in its e-bike business, expanding its e-bike range and increasing its production capacity.
The Challenges of a Changing Market
The bicycle industry is facing significant challenges, including increased competition from e-bikes and changing consumer preferences. Brompton, a well-established brand, is not immune to these challenges. The company has been working to adapt to these changes and ensure its continued success.
The Rise of E-Bikes
E-bikes have become increasingly popular in recent years, offering a convenient and environmentally friendly alternative to traditional bicycles. As a result, many traditional bicycle manufacturers are struggling to compete with the growing demand for e-bikes. Key statistics:
- The global e-bike market is expected to reach $4 billion by 2025 (Source: Grand View Research)
- E-bikes account for over 20% of the global bicycle market (Source: Euromonitor International)
- Implementing bike-sharing programs and pedestrian-friendly infrastructure
- Creating green spaces and parks
- Encouraging active transportation modes like walking and cycling
- Promoting public health campaigns and education
Adapting to Changing Consumer Preferences
Brompton has been investing in its e-bike business, expanding its range and increasing production capacity.
Cities are taking bold steps to improve air quality through physical activity and green spaces.
We are seeing a shift in the way people think about air quality and the importance of physical activity for it,” says Dr. Rachel Kim, an environmental scientist at the University of California, Berkeley.
The Rise of Urban Air Quality Initiatives
Cities around the world are taking bold steps to improve air quality, and the momentum is growing. From London to New York, Edinburgh to Seville, and Paris to other major metropolitan areas, urban air quality initiatives are gaining traction. These initiatives focus on promoting physical activity, reducing emissions, and increasing green spaces. Key strategies include:
The Science Behind the Movement
Dr. Rachel Kim, an environmental scientist at the University of California, Berkeley, explains that the connection between physical activity and air quality is rooted in science. “When we move our bodies, we produce carbon dioxide, which is a major contributor to air pollution,” she says.
