Silverfish to reinvest as bike boom hands biz 21% YoY growth

Silverfish will reinvest the proceeds of this year’s ‘bike boom’ having tallied a 21% year-on-year growth, recoding a 56% on last year’s trade in June to October alone.

Silverfish Managing Director, Darren Mabbott, commented: “Whilst we are certainly not claiming to be unique to have benefitted from the welcome spike in sales, the summer period and the continuing strong sales are incredibly positive and affords us the ability to continue investing with confidence.

“Our immediate priority has been securing supply of product for our dealer base and we have good volumes of confirmed orders with our brands which we think will see us safely through the year. In addition, the liquidity such good sales conversion gives us has enabled us to commit to other investments that improve service reliability and customer service. As an example, we have just approved yet another stage of development of our B2B eCommerce infrastructure which futureproofs load resilience, site speed and reliability. This follows last year’s investments in warehouse management technology which helped us manage crazy levels of shipping and ensure order accuracy.

“Most exciting of all is that it positions us very well to consider new brand investments and partnerships that fall within scope of our brand strategy and complement our existing brand partnerships.

“We expect 2021 to be another demanding year where managing uncertainty and dexterity will be key to success, but we’re facing these challenges in a strong position and with enthusiasm for further developing the relationships we enjoy with the many great retailers within our industry.”

The Silverfish brand portfolio is made up of FOX, Mondraker, SDG, Race Face, Yeti, Knog, Michelin, Easton, Peaty’s, Skratch Labs, Ride Concepts, Marzocchi and 100%.