Halfords launched its first central London biking shop today as bosses hope to cash in on the capital’s love affair with two wheels.
Chief executive Matt Davies opened the Cycle Republic store in Euston and said there are plans for several more across London and in other towns and cities around the country.
He said: “We started working on this around a year ago because we felt that with the superstore focus of Halfords there was an inability to target cyclists in central London. The more we’ve been working on this the more we realised it could work in other cities.”
Cycling has been the biggest growth area for Halfords.
After years of struggling sales, there has been a renaissance in the wake of the 2012 London Olympics.
Bikes make up 24% of all vehicles on the capital’s roads, with 12% of London cyclists riding at least once a week.
The stores will sell around 1000 exclusive lines including bikes from its Chris Boardman and Victoria Pendleton ranges.
Davies predicts that Halfords could outgrow the UK cycle market, which is rising at 5% a year.
