Former pro cyclist, David Millar has announced that his cycling brand CHPT3 has partnered with an angel investor to finance ‘a significant reboot of the brand’.
On June 8, CHPT3 will go live with its first own manufactured collection of sustainable cycle wear and a new e-commerce site aimed at a global audience. The new investment goal is to become one of the leading global brands in cycling within 5 years by ‘focusing on a big group of people coming into cycling.’
David Millar said “Millions of people are discovering their love for cycling these years. Yet, cycling can feel so exclusive and elitist and can put people off before they’ve even got on a bike. The cycling industry has managed to position cycling as a sport of suffering, pain, and herd-like behaviour.
“CHPT3 is for people that want to break free of that narrow code and make cycling a broad part of their lifestyle. CHPT3 is for both men and women. It serves many types of cycling, always with a focus to make cycling a positive, playful force in the life of our users.”
The first move from the new brand will be to introduce CHPT3’s first own manufactured cycle wear and a new e-commerce site targeting a global audience. CHPT3 launches its summer 2021 collection called ‘Most Days’ for pre-sale today (June 1).
According to the company, it will be the first time CHPT3 introduces cycle wear for women, and it will be a range that will be one of the most sustainable collections of cycle wear available to consumers. For the first time, CHPT3 will introduce products designed for mountain bikers, gravel riders, and urban cyclists.
The new investment has helped David Millar focus on growth. The angel investor, Mikkel Rasmussen, is a passionate cyclist himself and met David Millar in his search for a new chapter. He is a founder of the management consultancy ReD Associates and a business anthropologist. David and Mikkel met each other on the bike and started a podcast about cycling culture called Off Bike.
David Millar added, “With Mikkel’s lead and guidance, we have introduced a human first focus to everything we do, from taking responsibility regards sustainability and forming a business model that is built to last, to the naming of our products and introducing a women’s range that is in total parity with the men’s range.”
CHPT3 was originally founded in 2015 by David Millar – based on a licensing agreement with the Italian cycling apparel brand Castelli. In 2021 CHPT3 will design, manufacture and sell its own cycling apparel and will no longer be a license business.
The company is 60% owned by David Millar, 40% owned by Mikkel Rasmussen. The British and Spanish company has operations based in the UK and a creative studio based in Girona, Spain, where David Millar resides. Production is in Barcelona, Blackburn and Lithuania.
www.chpt3.com
www.offbikesociety.com
www.redassociates.com
