Thank you to Charlie (from Chesham) who just alerted me to an article in The Guardian today about Brompton Bikes. The article, by Zoe Woods, stated that Brompton had reported a jump in annual sales and profits as commuters in crowded asian cities such as Seoul and Tokyo were finally getting into the wonderful world of folding bikes. Brompton’s profits leapt nearly 50% to £1.6m in Q1 while sales rose by a quarter to £16.7m.
William Butler-Adams, the company’s managing director said:
“Brompton had clocked up growth of more than 20% in South Korea and Japan as frustrated city-dwellers sought ways to beat traffic jams.”
The company’s founder, Andrew Ritchie, could see from the window of his flat as he worked on the prototype in the early 1980s.
Since William Butler-Adams took charge of Brompton over 10 years ago, the company has been expanding rapidly in the overseas markets. Brompton are expecting production to rise from 31,000 to 36,000 units in the current financial year.
I find it absolutely stunning that 75% of Brompton’s turnover is from international sales, but they are not happy with that and would like it to be 80%! Brompton recently opened their first shop in mainland China. So now the wealthy residents of Shanghai have a British product to spend their money on.