Brompton sells stakes to Decathlon and Chinese Labubu backer
Summary
The British folding bike maker Brompton has sold shares to French sports retailer Decathlon and Chinese investment group BA Capital. These investments, worth about £18 million, will help Brompton's staff and long-term investors access some cash and bring new expertise to the company.Key Facts
- Decathlon bought a 10% stake in Brompton.
- BA Capital, an early investor in Labubu soft toys, bought 5%.
- The deal is estimated to be worth around £18 million in total.
- Brompton’s CEO, Will Butler-Adams, and other shareholders will be able to sell some shares for cash.
- Decathlon’s investment arm aims to help Brompton expand, including placing "Brompton corners" in some Decathlon stores.
- China is Brompton’s biggest market, and BA Capital will provide expertise there.
- Brompton’s bike prices range from about £999 to nearly £6,000 for a top titanium electric bike.
- Brompton’s sales declined after a pandemic boom but are now recovering as cycling grows in popularity worldwide.
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