Bikes and accessories etailer Chain Reaction Cycles is considering seeking more investment to pedal future growth.

The retailer - whose founders and owners the Watson family feature in The Sunday Times Rich List with a fortune of £75m - is thought to have met with advisers to discuss options.

The bikes sector is hotting up. Last month Isis, the owner of cycling etailer Wiggle, hired adviser Rothschild as it mulls a sale or float.

Also last month, Evans Cycles hired Nick Wilkinson, the former chief executive of Maxeda DIY in the Netherlands, as chief executive as it plots expansion.

Chain Reaction Cycles’ international sales are helping to drive growth. Its latest set of results showed the etailer notched up sales of £77.4m in 2009 and pre-tax profits of £8m. Wiggle, in the same period, clocked up sales of £55.6m, although it is thought Wiggle achieves better sales in the UK.

Chain Reaction Cycles’ website reveals that the business was established in 1985 and has grown from a small, family-owned bike shop to the “world’s biggest” online bike store.

The etailer trades in several currencies including the yen, Danish krone and rand. It offers free delivery to “most major international destinations” with a minimum spend.

No comment from Chain Reaction was available.