DISTRIBUTOR
Goodyear tyres, and Lezyne accessories, Upgrade has a selection of stylish and popular brands in the portfolio. But how has business been for Upgrade, and what plans are in the works?
The challenges “Like for most of the bike industry, [the past 12 months have] been challenging. “Following the Covid boom where demand was above supply, that flipped and we have been in a marketplace with overstock and falling demand. Not helped by a war in Europe and a cost of living crisis, and a long winter. However, most of our product portfolio is not complete bikes so it has not affected us as acutely as some other distributors or brands. We are seeing light at the end of the tunnel now that summer is here.” The bike industry has been suffering with overstocking,
sparked by delayed shipments from the Covid pandemic landing in the UK at the exact time demand for bikes tailed off after the pandemic boom. As a result, cashflow has been squeezed and many products have been heavily discounted, driving down margins. “It’s going to be a tough year for all with interest rate rises
to contend with,” said Mason. Mark Noble, head of marketing at Upgrade, said: “I think it’s also important to know that we’re continuing to support bike events, cycle shows, races, dirt jump contests, media titles and magazine advertising, and sponsoring more riders in a time when many brands are cutting back on such things in 2023. Our marketing budget remains committed. It’s not only great promotion and brand awareness to do all these marketing activations, but it also helps support cycling as a whole. For example, if cycling events that people enjoy going to can’t carry on due to brands pulling out of exhibition space or sponsorship at the last minute, where does that leave cycling in general. I’m actually really excited about our marketing this year, even though some see a challenge. We’ve got some amazing stuff coming down the pipe for 2023.”
The portfolio
Upgrade has recently made a few changes to its portfolio, adding both Goodyear tyres as a wholesaler, and Eclipse superlight innertubes - both high-end performance products. Alongside those additions, Upgrade continues to develop the DMR brand, now best known for its jumpbike components (and of course its iconic range of V pedals), most recently launching into the kid’s market with the DMR balance bike. On the DMR kids’ bikes, Mason said: “We wanted to offer a range that would appeal to all the riders out there that have grown up with us and now have children of their own. “We spent a lot of time on the designs to make the learning and progression of riding a bike as natural and fun as possible.”
www.bikebiz.com July 2023 | 27
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