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Dev-Bank Wales MBO
29 May 2024

Cycling Retailer Invests in First Bricks-and-Mortar Showroom

A cycling retailer based in South Wales has opened a state-of-the-art bike shop in a move to expand its presence in the growing e-bike market.

Following a significant uptick in demand for e-bikes, partly due to wellbeing becoming more of a priority since the pandemic, Swansea-based Uprise Bikes has opened its first bricks-and-mortar showroom as it enters a new phase of growth.

In addition to its new site, the business – which is owned by one of the UK’s largest independent cycling groups, Cycle Solutions – also made the decision to invest in a brand new 8,313 sq ft storage facility.

The new unit will boost Uprise Bikes’ stock capacity, allowing the business to maintain more consistent supply levels. Along with its new showroom, the business’ investment is set to increase its turnover this year by 14% to £32 million.

Uprise Bike’s rapid growth, which was supported by an £832,000 loan from Lloyds Bank, has already created six jobs at the business' new showroom to help consumers choose the perfect bike. The business also has plans in place to create more roles at its new storage space to help manage the logistics of its stock and order sheets.

The family-owned business was founded last year by Mike Jones, Keith Jones, and Steve Edgell and since then, Uprise Bikes has built a reputation for being one of the go-to retailers for road, mountain and e-bikes as well as selling parts, clothing and protection. The business has over 250 years of cycling experience among its 74 team members and stocks over 400 sector leading brands.

Steve Edgell, founder of Uprise Bikes, said:

“From the moment we launched the business last year, we wanted to make a splash with our own showroom to keep up with the rapidly evolving market. Technology continues to be a driving force behind the way people move, and we’re beyond excited to create a hub for not just a new age of mobility and wellbeing, but also sector leading knowledge for our customers.

“Our new shop and storage facility will create a package for us to take full advantage of the e-bike bug. Lloyds Bank’s speed and diligence meant we could move quickly on securing both sites, which will allow us to springboard for future growth.”

Jonathan Richards, relationship director at Lloyds Bank, said:

“Uprise Bikes is the perfect example of a business not just tapping into an emerging segment of the market, but also showcasing how retailers can remain innovative and move forward. Investing in its product base and storage capacity has paved the way for the business’ high speed strategic growth and build further resilience.

“We will continue to stay by the side of firms like Uprise Bikes to help them take advantage of emerging trends and opportunities across the region.

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