Brompton, the largest domestic bicycle manufacturer in the UK, is setting its sights on the EU market as the COVID-19 pandemic stimulates demand, and is expanding its business and workforce.
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“Our goal is to increase the number of employees by 20% this year, which is equivalent to an increase of about 100 employees to support our expansion in Germany, the United States and the main Asian markets, as well as our continued growth in the United Kingdom. The future of cycling is bright …More and more people ride bicycles, and cities become healthier and happier.”
The company is currently recruiting positions including a head of the EU’s Brexit freight, who will be responsible for organizing shipments from all over the world to ensure that costs and documentation are included. The company had previously faced supply and delivery issues related to Brexit, including export disruptions between Dover and Calais.
Brompton said that in the last financial year, it sold 59,000 bicycles at its Greenford plant in London, an increase of 10,000 from last year. In the latest document for the year ending March 31, 2020, the business’s turnover increased by 34% over the previous year, reaching 57 million pounds ($79.25 million), compared with 42.5 million pounds in 2019. Brompton’s gross profit margin also continued to improve, reaching 49.7 pounds. %, compared with 48.9% the previous year.
Butler-Adams told the Financial Times: “Since the (April) ban, we have been in a period of inability to meet demand.”
Now that a Brexit agreement has been reached, the company is seeking to increase sales in Europe, including Germany and France. The United States is also the target market.
During the COVID-19 pandemic, the business quickly became an e-commerce provider selling directly to consumers, thus adapting to this change.
Butler Adams of the British “Financial Times” said the process took months instead of the usual two years.
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