Rapha Cycling’s losses topped AUS$47m. on AU$220m. revenue for the 2024 year according to their latest UK financial reports. The loss follows consecutive years of losses stretching back to the 2017 takeover by RZC Investments, the private equity vehicle owned by the Walton brothers Steuart and Tom, descendants of Sam Walton the founder of Walmart.
In 2019, founder and CEO Simon Mottram was quoted as saying, ”We’re not making lots of profit, I can tell you that, but that’s not what we need to do for the next three years.” Someone’s got deep pockets (in their trendy $400 knicks…)
