The Triple 7 Group has agreed to the sale of the Royal Racing brand name to a group led by Martin Lloyd Evans, managing director of MMA Sports, which is the Triple 7 Groups European cycling division. Lloyd Evans will continue in his position at MMA.
The agreement will enable the Triple 7 Group to concentrate on its core 661 brand, while enabling the Royal brand to further enhance its position in the off road bicycle apparel market.
Neil Calvesbert, chief executive officer of Triple 7 Group, comments: “Steve Peat recently won the World Downhill Championship and he is synonymous with both the 661 and Royal brand names. The difficult economic climate continues to challenge all brands so both 661 and Royal need to focus on their core strengths and this agreement will allow Royal and the people responsible for it to really go after the market and deliver its full potential. Steve is an amazing talent and continues to show everyone that his years of dedication continue to pay off, he will continue to wear 661 protection and provide cross over marketing between the two brands”.
Lloyd Evans, is equally upbeat: ''This is a win win situation for both parties I look forward to continuing to drive 661 forward in Europe whilst helping Royal to fully realise its undoubted potential.