Rapha announces loss of £12 million, citing cost of living and supply chain concerns

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Rapha announces loss of £12 million, citing cost of living and supply chain concerns
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Rapha announces loss of £10.6 million`

The premium cycling clothing company has now posted a loss for the sixth year running, however an independent auditor identified no uncertainties which could cast a doubt on Rapha's future...has posted a pre-tax loss of £12 million for the year up to 29 January 2023, citing a downward trend in customer interest due to the cost of living crisis as well as overhead costs due to commitments made during the pandemic.

> What the hell is going on in the bike industry? Wiggle Chain Reaction turmoil discussed plus pro cycling's idiot problem on the road.cc Podcast "However, concerns over the cost of living have started to impact consumer confidence in certain markets. Additionally, the market has become more competitive as competitors, both direct and indirect, strive to normalise their supply chains after the disruptions caused by the pandemic.

After the Covid-19 pandemic and then the cost of living crisis, Rapha's director Sean Clarke said that"revenue levels and customer acquisition have held up well". However, its earning were adversely affected due to commitments to overheads costs made during the pandemic.through a debt-for-equity, aimed at reducing its cost of borrowing. CEO Convercey, previously Rapha’s chief brand and marketing office, however had told road.

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