The record-breaking success of Team GB's cyclists and Paralympians at the Rio Olympics has led to an uplift in bike sales and interest in cycling as a hobby, according to retailers Ribble Cycles.
The cycle retailer and manufacturer has seen an overall sales uplift of 45% compared to last year, and since the start of the Olympics the number of bikes sold has increased 61% compared to this time last year.
Road events at the Rio Olympics have clearly made an impression on the British public, as Ribble has seen an uplift of 85% in sportive bike sales since this time last year. Racing bikes have also seen a boost of 56% compared to this time last year.
Interest in creating bespoke bikes saw a large number of on site sessions across the length of the games, and cyclocross bikes have seen over a 400% increase in traffic in the two weeks following the event.
Ribble Cycles, owned by retail and consumer sector specialist private equity firm True Capital, specialises in retailing carbon road bikes, which are fully customisable and designed in-house.
As well as manufacturing its own products, Ribble supplies high performance bicycle parts from the world's top cycling brands, including Shimano, Campagnolo, Castelli, Bont, Giro and Mavic.
Matthew Lawson, Chief Marketing Officer at Ribble Cycles said: "The Olympics is a really exciting time for sport and we couldn't be prouder of what Team GB's cyclists have achieved. It's amazing to see more Brits following in their footsteps and taking cycling on as a potential new hobby."
He continued: "From road bikes to track bikes, it's great to see cycling fever spread across the UK! We would love to see this trend continue and for cycling to be an even bigger part of everyday life in Britain.
"Following the Olympians' recent request for an increase in investment for cycling, we agree and would also like the government to increase their spending in this area. Overall more consideration and funding is essential for cycling to be sustainable in the UK. Being proactive in this area of the industry is definitely a key concern of ours."
Ribble has recently expanding its business operations into Australia, and with plans for a launch in Germany in the near future the brand is certainly showing its own ambitions to compete at international level.
The company reported a turnover of £16.8 million in the previous financial year (2014/15) and continues to invest into the continued growth of the business including the recently redesigned website at www.ribblecycles.co.uk.
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