The inexorable rise of the Middle-Aged Man in Lycra — known to fashion followers and many a bemused wife nationwide as the Mamil — has delivered a rich reward for Rapha Racing.
The clothing company behind Team Sky’s kit has announced a 70 per cent rise in revenue in the year to February. It took almost £27 million in revenues, although its investment in growth pushed pre-tax profit 13 per cent lower to £605,000.
Rapha’s stylish cycling gear has caught on with “men of a certain age” who have adopted cycling as a hobby, with Paul Smith and Brad Pitt said to wear it — even if eye-watering price tags may put off some. Most Rapha jerseys cost more than £100.
The British clothing company has enjoyed a surge of popularity after supplanting adidas as kit supplier to Team Sky in January 2013, as part of a deal that lasts until the end of 2016.
Carrick Whitney, its chief operating officer, said that the ten-year-old company operated on tight margins since it was still investing in staff and infrastructure “to prepare the business for further growth”.