Halfords will massively expand its cycling clothing and accessories offer next year to capitalise on the interest in the sport which was inspired by the success of Olympic medallists Bradley Wiggins and Victoria Pendleton.
The retail group is to tap into the growing trend of middle-aged men in Lycra, or Mamils, taking to the road, raising its clothing and parts offer to 13,000 items. But it posted a 24% fall in first-half profits to £41.9 million. The wet summer hit bike sales before a strong rebound after the Games.
Chairman Dennis Millard said Halfords sells about one million bikes a year but only has a 14% share of the growing market for cycling accessories. He added: “It is the Mamil effect, for sure. Cycling sales were obviously boosted by the Olympics.”
