So far, the company has sold more than 25,000 electric bikes and already has four other UK stores in London, Brighton, Bristol and Loughborough and exports all over the world.
Turnover last year was £3.5m and is expected to top £5m by the end of next year.
The company is targeting five other major UK cities for new stores. It is earmarking a £10m turnover within the next eighteen months.
50cycles offers all the major premium brands in the market including: Kalkhoff, Cube, Giant, Scott and Raleigh. In addition, the company also sells its own range of branded cycles – Beat Bikes.
Bikes retail between £1,000 up to £16,000. As well as selling the bikes, the shops also have fully equipped service workshops.
Scott Snaith, managing director of 50cycles, says:
“We appointed Sugar PR because of the enthusiasm of the team for our business and the fact that the agency is strategically located in Manchester which is perfect as we continue opening new stores in the North of England and Scotland in particular.
“We’re also happy to support a young, startup PR agency because we remember what it was like in the early days of our business. We’re looking forward to working with Pete and the team to support us getting our key messages out there in the marketplace.”
Pete Davies, managing director of Sugar PR, adds:
“We’re delighted to have been appointed by one of the UK’s most innovative retailers. It’s always a pleasure to be working with clients who are disrupting their marketplaces.
“We’re going to be assisting 50cycles on their growth journey and making sure that everyone in the UK is in no doubt who the specialist electric bike retailer is.”
The electric bike market is expected to grow at least 20 per cent during 2017. Electric bikes are popular with people who want to ride further and faster.
"Were looking forward to working with Pete and the Sugar PR team to support us getting our key messages out there in the marketplace."
Scott Snaith, cycles
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