Bikes etailer Wiggle is targeting US sales with the launch of a Wiggle.com site.
Wiggle chief executive Humphrey Cobbold said although the retailer isn’t putting a “big focus” on US growth, it is in the “right position” to develop its US presence further. Wiggle had already been shipping to the country from its other sites.
The online cycle and triathlon specialist retailer ships to 70 countries but has previously launched websites in translation, adding five last year, including Russia and China.
Cobbold said since the start of its financial year in February, it has been converting translated sites to separate dedicated local language sites to make them more tailored.
Wiggle, which was acquired by private equity firm Bridgepoint in a £180m deal last year, delivered a 23% surge in pre-tax profits for the year to February 5 and generated a 37% increase in sales to £118.6m.
“We are pleased with the results and how the business continues to develop,” said Cobbold. “The performance reflects the continued growth and development in the UK and overseas and we continue to progress in a more measured way.”
Cobbold said Wiggle had benefited from the popularity of Olympic cycling events and the Tour de France but cautioned: “I can’t see how the economics will help much in the next 24 months. It will be a hard, slow recovery.”
Last month, an advisory board of top retail names was hired to develop Wiggle, including Jack Wills co-founder Peter Williams.