KETCHUM, ID (BRAIN) — Apparel brand Club Ride announced a 123 percent increase in sales in the first half the year, to $1.116 million.
The privately held company releases some financial data voluntarily each quarter.
“With these results we now have considerable momentum in the market, which will enable us to expand the number and quality of our retail accounts in North America and to pursue international opportunities,” said Club Ride CEO Scott Montgomery. “We are excited to see this business continue to grow within the emerging category of casual-technical cycling apparel.”
Montgomery said Club Ride had budgeted for a sales increase to $1.095 million in the first half.
"It's cool to beat the budget. We are still small, but we are making significant gains," he told BRAIN. "We are really running the company like it is a much bigger company than it is."
Montgomery, formerly with Scott Sports and Cannondale, joined Club Ride last year. Mike Herlinger founded Club Ride in 2008.
The brand recently released its first fall/winter collection, which includes long-sleeve tops, pants and jackets. Its 2014 spring/summer collection will introduce Club Ride's new Open Road line for road bike and touring riders, and will expand total styles from 32 to 52.
During the second quarter, Club Ride opened its 600th retail location in North America. Club Ride also has 20 accounts in Canada and expects to expand into Europe by 2015.
Club Ride also has recently expanded its staff. Cole Casperson was hired as controller and accountant, Kelli Lusk was promoted to marketing manager position, and Cameron Lloyd will become customer service manager, Lusk's previous position. Becky Lamphier will be joining the staff as product manager and one additional customer service representative will be added by mid-August.