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- BikeExchange (BEX) is on track to a record Q4 FY22 as it achieves a record month in Europe
- The bike store saw another record month in May as Europe continues to see seasonally strong demand for bikes with the average order value continuing to rise
- Additionally, the company’s subsidiary, Kitzuma, is gearing up to launch its ready-to-ride consumer bike shipping service in North America
- BEX is expecting consumer shipments to grow rapidly over the Northern Hemisphere summer period with around 1200 shipments per month by the first quarter of FY23
- On the market, BEX shares are steady and trading at 1.7 cents each at 3:27 pm AEST
BikeExchange (BEX) is on track to a record Q4 FY22 as it achieves a record month in Europe.
The bike store saw another record month in May as Europe continues to see seasonally strong demand for bikes with the average order value continuing to rise.
BEX said its quality of stock and e-commerce enabled listing continues to grow, offering customers greater choice with a wide variety of bikes across the whole price spectrum.
Additionally, the company’s subsidiary, Kitzuma, is gearing up to launch its ready-to-ride consumer bike shipping service in North America.
This means consumers will be able to ship their ready-to-ride bikes to several events across the US at Kitzuma’s 50 stores.
BikeExchange is expecting consumer shipments to grow rapidly over the Northern Hemisphere summer period with around 1200 shipments per month by the first quarter of FY23.
Kitzuma CEO Taylor Essick is thrilled to launch its customer services.
“Over the coming months we’ll open up our network so everyone will have the freedom to ship their bike from one Kitzuma Travel Hub to another,” he said.
“We’re building it to be similar to booking a flight, with a modern, simple-to-use interface, and this is going to provide an option for riders to travel with their bikes without the hassle of bagging or boxing their bike or carting it through an airport.”
On the market, BEX shares were in the grey and trading at 1.7 cents each at 3:27 pm AEST.
