BikeBiz Bicycle and cycling retail news
Figures handed to BikeBiz reveal that 2pure’s revenues grew 20.5 per cent during the first quarter of 2014.
The strong results come despite the distributor losing Clif Bar and Crankbrothers from its portfolio.
The firm said its like-for-like sales were up 60.4 per cent which it said was "testament to our existing brands, the commitment from everyone inside the company and the strong relationships we have built with our very supportive customers".
Since the start of the year 2pure has added four new brands to its portfolio – Osmo, Honey Stinger, Neil Pryde and most recently Eddy Merckx. The firm said: "We have invested in developing our sales, brand and marketing teams to ensure we can deliver the same success’s for our new brands whilst continuing to grow our existing loyal brands.
"2pure has a strategic plan that is focused on growing the business 76 per cent over the next three years. The senior management team has been installed over the past two years to enable us to take the next step. We will be recruiting six new people during the next 18 months and we are set to continue to focus on our Core Purpose ‘to build businesses by adding value in ways which improve the experience of all participants in every interaction’."
2pure’s sister company Nine Point Nine, which distributes to the speciality run, outdoors and general sports market, has had a stellar Q1 with 114.2 per cent growth and 229.4 per cent like-for-like sales.
Three brands in particular are driving this success – Nathan, Feetures and Mio.
"We have had real success by working closely with our retail partners helping them grow these categories in store. We are not in the business of eroding markets, rather we are looking at ways to help the consumer get a better experience out of their activity whilst helping the retailer to increase their revenue. We have also just launched Osmo and Honey Stinger and are seeing strong signs for demand as they are unique products in what is a growing market segment."
Nine Point Nine’s strategic plan aims to grow revenues by 193 per cent over the next three years whilst employing an additional five people during the next 18 months. The firm added: "Our focus will remain on on our existing brands and any new brands that approach us will only help to accelerate our growth."
