[Closed] Planet X's brexit woes

118 staff and none of them know how to make an outgoing phone call.....

Bugger for the individuals concerned but having to knock stuff out cheap because quality and customer service are crap was always likely to end up in tears.

That's savage, commiserations to anyone now facing the axe.

Don't assume tiny profit margins.

Low profit may have been because they keep buying bankrupt brands - and have they been opening new shops?

Profits aren't always a great indicator of performance alone, more telling might be the £2m drop in sales compared to the year before.

As for blaming Brexit. I've no reason to doubt them, but they do have to give a reason for redundancies, but it could just as easily be part of a larger restructuring – they closed their US operation too. If I worked there I’d be angry if they didn’t elaborate on the particular reasons – we’re only a few months into the shit storm.

I assumed the loss last year and low profit this year were as a result of closing the loss-making US division not an indicator of the profit margins they work to.

I don't blame it on Brexit (or the boogy) I blaim LondonRoadSeattubegate.

Barnsley store has been closed for a few weeks, that's usually where I have my stuff delivered to. Originally told it had been closed for refurbishment but cant find it on their website now

Londonroadseattubegate 😆

Brexit is being blamed

Unless I can't see all the article, it doesn't elaborate on why Brexit.

I stopped ordering when they put up there postage price/limit.

To spend £25 isn't that hard. Add in a bottom bracket, chain, bar tape, grips and you can easily build up to the free pstage amount with things you'll use eventually. With it being £50 or £3.95 most of the bagains I see aren't really bargains.

That and I've had a couple of bad experiences with clothing that mean I don't bother anymore.

Shame though

They've got a new Full Monty bike now. Looks a lot like the London Road but with different dropouts and flat mounts brakes. Wonder what the seat tube on those is like?

http://www.planetx.co.uk/c/q/bikes/gravel-adventure-bikes/full-monty

Less Brexit and more just due to the poor running of the company. Feel free to explain how the losses in 2015, the poor customer service, the lack of QA/QC and the general mess of brands are due to Brexit?

I think PX are exactly the sort of company that'd blame brexit for all their woes regardless of truth tbh, it's a useful way to bury other bad news, and I think they probably have plenty of that. Obviously they're an importer and price-shagger so that's got to be affected by the currency rates but otoh they're a constant price fluctuator too so I reckon the question is really, do they actually sell much at RRP? If they do, then they can deal with a price rise, if they're dependent on their fake "discounting" then that got harder... To me they're not a brand that can put prices up, you can get away with selling cheap shit but it's not so easy to sell midpriced shit... but I'm probably not typical.

Oh sod off brexit. Maybe if they looked at how painful the truth is. Can't remember when I last shopped there.

Drop in the pound because of Brexit + tiny profit margins on imported goods = bad outlook, time to reduce other costs. It's pretty clear why Brexit is at fault. The price of some of the carbon frames they badge up as On Ones have gone from £200 to £300 on Aliexpress in the last year or so, that's got to hit their profits.

Noticed they ditched Topcashback and Quidco a few weeks back.

I don't believe Brexit is the real reason, I think it's more to do with customers being more savvy to their yo-yo pricing eg. the bung for the Carbon Fatty Fork is now 3x the price it was mid summer; plus their handling of issues such as "OvalSeatTubeGate."

Started out with a good ethos, now for a couple of years at least jumping on every bandwagon going with pile it high sell me cheap tat, questionable quality control and crap customer service on top and they blame outside forces?? Err don't think so.

Doubt Brexit is the whole story, but for a comapny built on importing cheaply form the far east, having the arse fall out of your currency is going to sting.

I'm sure Brexit is [u]a[/u] reason.

Why oh why don't they tidy their bike/frame offerings up and make some nice relevant hardtails again though?

I want a c456 29er!

[quote=chakaping ]I'm sure Brexit is a reason.
Why oh why don't they tidy their bike/frame offerings up and make some nice relevant hardtails again though?
I want a c456 29er!

Because Brant isn't there anymore.

I am sure the origin of a lot of the stuff they sell will have hurt them, but so will what they sell and how they deal with [b]issues[/b] with what they sell. I will never use them again because of their customer service on a still-in-warranty 1K bike, and can't be the only one. Ad in what a google of London road will get you or the repaired ti frames on ebay(I mean really,why not just sell them for scrap?)and I think they have gone a long way from the model that made them successful.

Perhaps they can sell off those Jimmy Savile bikes to raise a bit of cash...

Maybe if they looked at how painful the truth is. Can't remember when I last shopped there.

Same here. I gave up on them a long time ago. It's not like the competition (Wiggle/CRC/Merlin) got better, planetX just got immensley more sh**ter

^^^

This (damn, people beat me. Agreeing with Duckman's comment!)

I used to be a fanboi of PX and OO. But after the customer service woes I experienced, which turned out to be a known fault, I wouldn't touch them with a barge pole. Especially as they then seem to sell on the returned/broken frames to that dodgy Golf Shop on eBay.

Shame - once were good. Then not. If you believe Charles Darwin, they ain't fit anymore.

Visibly a lot less component stock on the website in the last 12 months that's for sure,

The exchange rate crash (as a direct result of Brexit) was probably the thing that tipped them over so although they already had problems it was Brexit that broke the camel's back.

Shame really. I remember dealing with OO when Brant was there. Good product but sold cheap. You knew what you were buying. Now it's just a cheap tat with a mid range price. Reputation really means a lot in the MTB world. Look at Hope & Exposure, yes their stuff can be expensive but riders don't often mind paying a bit more for decent stuff with great service.

mrjmt -

chakaping » I'm sure Brexit is a reason.
Why oh why don't they tidy their bike/frame offerings up and make some nice relevant hardtails again though?

Because Brant isn't there anymore.

OO have always lacked consistency and logic in their frame range.

Its last accounts show an annual turnover of £18.3 million, and profit of £109,689. In 2015 the company made a loss of £86,594 on a turnover of £20 million.

Clearly from that it shows all they need to do is further reduce turnover to increase profit. This probably explains their customer service model, if they ended up with too many repeat customers it could cost them a fortune.

(I am available for further business consultancy at a cracking day rate)

I'm amazed that they employ 100+ staff...

I'd have assumed that operation could have been run by 20-30 people.

I stopped ordering when they put up there postage price/limit.

To spend £25 isn't that hard. Add in a bottom bracket, chain, bar tape, grips and you can easily build up to the free pstage amount with things you'll use eventually. With it being £50 or £3.95 most of the bagains I see aren't really bargains.

Whilst laying off half your staff is pretty brutal, it's not the most regrettable thing they've done...

[img] [/img]

Ouch!

LoL 🙂 dicks..

I will never use them again because of their customer service on a still-in-warranty 1K bike, and can't be the only one

I'm the same, bought a set of a57 wheels a few years ago, bearings on the rear failed after less than 400 miles, sent them back, got an email from px to say 'we've inspected them, bearings are a consumable but as a gesture of goodwill we'll replace them', wheels returned 6 weeks later, new bearings lasted less than 300 miles this times - that's less than 2 weeks commuting. Binned them, never bought from px again.

In general their stuff is crap, that's why it's cheap, its not a bargain it's just cheap tat.

duckman - Member

or the repaired ti frames on ebay(I mean really,why not just sell them for scrap?)

They do- then ESCGolf stick random bits of titanium over the cracks with birdshit and chewing gum, and declare it to be excellent quality. In this one thing, it's not really On One's fault I think- it just fits perfectly with their hard-earned rep.

Might get my inbred while I can.....

Well, i'm not a PX hater and have not experienced any issues with them, and will likely buy a few bits and bobs from them because there are still bargains to be had (Parkwood frame for £89?).

BUT, it is clear the business is run pretty poorly. I think blaming Brexit is a bit of an excuse and not a real reason, possibly a factor among others. I think all of the (very valid) gripes listed so far are outward signs of this. Their bewildering range of bikes and bizarre parts and clothing shows a lack of strategic thinking. I find their 'every friday' sales promotion fairly pathetic, as it focuses on flogging 3 year old bib shorts at implausible discounts. Also, they still haven't employed anyone to proofread or update their website, which adds to the feeling of lack of professionalism.

It's a shame, because they have some decent bikes in their range, and if they tried i'm sure they could make it work better. Instead they have people like Alpkit coming along and showing them how to do it properly (not a complete or fair comparison, but an example of doing things well).

I'm saying brexit isnt completely right although this combined with a rumour I heard about a year(?) ago about issues will create a storm I guess.

Real shame for the workers involved, never had a problem with any products from On One and have ridden one of their frames for years now.

Looking forward to seeing the new Ti 456 coming out soon

Didn't Loughran (Planet X boss) claim his hero was Mike Ashley a while ago?

Adsh I was looking at inbred 29er frames yesterday I could have sworn they were 150 possibly even 120 defo not the 200 they are today

There's not much factually right with the BBiz article, and likewise with the onward reporting of the initial inaccurate report by STW and other parties. No one even bothered to call up and ask... Road.C.C bothered to call up so we've addressed the original article through them.

There are tough times brewing for the bike industry and PX has taken early steps to ensure we can weather that storm. No one likes letting staff go, at any time of year, but we are in a largely seasonal business and the industry flexes staff numbers up and down every summer.

The good news, though, is we've got 12 days of great Xmas deal starting tomorrow, so fill yer boots and get those Xmas present early.

[quote=sq225917 ]we've got 12 days of great Xmas deal starting [b]tomorrow[/b], so fill yer boots and get those Xmas present early.

[quote=firestarter ]I was looking at inbred 29er frames yesterday I could have sworn they were 150 possibly even 120 defo not the 200 they are [b]toda[/b]y

Cause and effect right there...

Not quite Ninfan.
Hugh Facey

https://rouleur.cc/editorial/planet-x/

Cause and effect right there...

Is the Barnsley store refurbished or closed.

There's not much factually right with the BBiz article

Go on, then?

Is the fact "you" have laid off nearly half your staff inaccurate? Blaming such a large lay-off on seasonal business is as weak as blaming it on Brexit.

150/120 but 200 today, what tomorrow? Aren't there legal rules on pricing and 'sale' prices/timescales?

Adsh I was looking at inbred 29er frames yesterday I could have sworn they were 150 possibly even 120 defo not the 200 they are today

same here, i was looking to buy a xs 456 frame for my lad and they've been 129quid for weeks. all of a sudden 200.

Care to tell us what parts are factually incorrect then? Sure not the accounts figures or number of jobs lost. STW speculation was based on a number of customer experiences though wasn't it, which are fairly valid?

Nice to confirm what we have said above by claiming sympathy for 'tough times' and then torpedoing yourself by plugging another sale a good two months before xmas.

2/3 down the page you linked to soopahfly

[i]As for who Loughran admires in the business world, the first name that comes up is Mike Ashley, the billionaire founder of Sports Direct, which operates more than 500 stores worldwide. Loughran has consciously followed the Sports Direct model: build a business around multiple brands that you own and cut out as many tiers in the supply chain as you can.[/i]

My mate bought an Inbred frame yesterday for £144.

I stopped buying the odd bit of tat there because the postage.

Dave's business savvy wasn't quite a good as he thought - if he'd hedged better against the USD he might have given himself some breathing space, but expect that the currency swing has squeezed what little margin there is. Following the Sports Direct model wasn't going to work - I suggested this a few years ago and got ridiculed on another forum 🙂 It was obvious that the majority of people who worked there were zero hours, minimum wage who don't give a $hit - luckily I haven't bought a bike / frame from them in a while - it's less aggro to buy direct from China.

Missed that one Ninfan 😀
Well spotted.

*edit*
There's that many ad's on this site I think it's given my computer AIDS.

I've always liked PX and have bought a fair amount from them over the years. Recently though I've started to look elsewhere and the above mentioned pricing strategy is the main issue. I just don't know how much something will be from one day to the next, so any "bargains" I feel I might have got previously I now fear are not bargains at all.

I'm not really a big P-X fan despite having owned a few bikes off them, but the tone of the article on the front page here (Singletrack) is a bit off- lots of insinuation. I'm curious if Mark/Chipps ok'ed it?

As you’ll read in this forum post about Planet X’s planned redundancies, there are comments from Planet X customers who have alleged negative experiences with the company in recent years. One forum user has also referenced the alleged closure of one of Planet X’s retail stores from a few weeks ago, which was stated to be undergoing refurbishments. However, that store no longer appears to be listed on the Planet X website.

Some forum users have suggested that the profit loss listed in Planet X’s public accounts is to do with the closure of Planet X’s US operations earlier this year. Others have pointed towards an alleged fault with the Planet X London Road frame and it’s incorrectly machined seat tube as being a potential source of blame.

Is there a possibility not stocking regular brands harms their business? I know I've not bought anything off them unless I wanted some really cheap disposable tat (£4 pannier bags for a one off adventure) but if they were selling regular Shimano or RaceFace parts at a price to rival CRC I'd consider them. But instead they're selling Selcof bars and Prowheel cranks, which I've never heard of and no one has reviewed.

You used to be able to buy Rockshox from them, they even came with an installed crown race and a cut steerer.

Yes, but then for whatever reason they had to sell a lot of their Rockshox stuff to mates instead of through the website. Not sure what happened there.

Thepodge, that seems like a perfect example of us being willing to go the extra mile to give a customer exactly what they need.

(I guess the customer in question was expecting a BNIB set though ?)

It was a whole pallet load of forks, not just one guy.

Their "no-nonsense pricing" strategy is a pain for me too.

I haven't time to scour their site every week trying to work out if something is a decent price or not, so just stop purchasing from them at all. Most people can't readily walk in to one of their shops and inspect the quality to make a judgment that way either. You're better off trying to pick up their stuff 2nd hand, prices are more consistent then.

Decent brands don't seem to rely on this yoyo price model.

I was looking at inbred 29er frames yesterday I could have sworn they were 150 possibly even 120 defo not the 200 they are today

Ah, yes, well, they have to up the price a bit so they can

we've got 12 days of great Xmas deal starting tomorrow

run a 25% off christmas special and knock them out for £150 again

Is there a possibility not stocking regular brands harms their business? I know I've not bought anything off them unless I wanted some really cheap disposable tat (£4 pannier bags for a one off adventure) but if they were selling regular Shimano or RaceFace parts at a price to rival CRC I'd consider them. But instead they're selling Selcof bars and Prowheel cranks, which I've never heard of and no one has reviewed.

I suspect that a large part of that is suppliers gradually cutting them off because PX couldn't resist the temptation to shag prices.

There's a whole game of people on the continent horsetrading half a container of OE wheels from one supplier for three pallets of forks at another, then that gets swapped with someone else and ends up at PX or Ribble or Rose or Alltricks or whoever. Thing is that increasingly suppliers look for something like this, buy it, trace the serial numbers and then close people's accounts.

Certain retailers will mix this stuff in with their official stuff so that they (and sometimes the distributor too) can pretend it's all legit rather than OE, so that other retailers don't walk away from the brand, but over the years this has an effect, and people stop stocking it as it's always being shagged online.

The good news, though, is we've got 12 days of great Xmas deal starting tomorrow

I can image half the work force that are being made redundant are not whoop whooping at that.

sq225917 - I think your comments on here are proof of poor strategy and approach. You've failed to address the substance of the article and challenges from people, and most damningly have not respected the seriousness of it by using this particular thread to inappropriately plug yet another sale. Your posts reflect poorly on PX, and reinforces a negative brand image. You should have the gumption to realise this and act accordingly.

hora - Member

150/120 but 200 today, what tomorrow? Aren't there legal rules on pricing and 'sale' prices/timescales?

When I was at my most pissed off with on one after they ripped me off, I did think about keeping track of some prices then dobbing them in to the OFT, they don't even pay lip service to the pricing practice guide. But even I'm not that petty 😆

I think PX are exactly the sort of company that'd blame brexit for all their woes regardless of truth

This. They overextended themselves, had quality control issues and have issues with thier pricing preventing positive consumer trust. I went to order some chamois creme on offer at £5 the other day only to fail for it to be less that £15 in the basket.

For a company to be running £20m turnover with 0.5% profit there's some issue at the top. Shedding 50% of the staff won't help that, thats a panicked reduction of OpEx, and a small on in ££ terms also.

sq225917 thankfully many customers are now getting wise to planetx methods. It's kinda made us more savvy and realise why go to the likes of yourselves when we too can price shag and go direct. I've heard a few stories over the years. They kind of put me off.

I did think about keeping track of some prices then dobbing them in to the OFT, they don't even pay lip service to the pricing practice guide. But even I'm not that petty

Is there a price tracking thing that works with any website??

I found this plugin for chrome: "Smart Price Monitor"...
https://chrome.google.com/webstore/detail/smart-price-monitor/epedkmejmajcbhpkhpmiickopfimjani

To recover, they're going to need to offer builds with a comprehensive range of Shimano kit. Which will still need to be cheapest about because sadly that is what they have turned the brand into. In their shoes I'd do that, ditch all the tat and just sell bikes and frames.

builds with a comprehensive range of Shimano kit. Which will still need to be cheapest about

Unless Trump wins and everyone's currency tanks, px will struggle to secure cheap shimano kit

Aaaaand, the Limited Edition SS Inbreds. The white 29ers that have been popular for yonks ... Roll up, only 100 ever made. Lol. There's 55 in stock and me & my mates have 3. Ha ha!

My mate's arrived in 24hrs though, that was a pleasant surprise.

I'm saying brexit isnt completely right although this combined with a rumour I heard about a year(?) ago about issues will create a storm I guess.

I've heard a few stories over the years. They kind of put me off.

Twice in 2 posts hora, just post the stories?

Here's the road.cc story

http://road.cc/content/news/210095-planet-x-makes-significant-redundancies-%E2%80%93-says-it-looking-become-more-flexible

I loved my 456 in that blue. That's the good.
Every time I placed orders for little bits and pieces there were always a few errors - wrong item, missing items, wrong size. Customer service was either not responding or ignoring me most of the time. Bloody hopeless company to deal with that always ended up with me in a bad mood whenever I tried to resolve anything. I was stupid and thought things would get better and would stupidly buy tyres or grips or whatever when I saw a deal. I finally learnt the hard way how much of an incompetent shower of (insert swear word here). I haven't bought anything in the last 4 years and struggle to comprehend how they still manage to trade using what seems to be the same business model as always. I was quite vocal over the years on here about my thoughts and many said I was over reacting. Seems not.

I think Planet X have possibly lost their way a little bit. Apart from the London Road there hasn't been much to interest me in their range for a while. The boom in cycling has meant that a lot of people are happy to pay a decent price for perceived high quality; Planet X's pile it high, sell it cheap approach may not be that appealing for some, especially when the comments made about them on the interweb can be so mixed. If a new cyclist wants to get serious and spend a grand on a carbon road bike they want to be sure they are getting the best value and quality for money, and they may want to feel more supported by their retailer of choice.

For the record all of the frames I've bought from them have been cheap but decent quality for the money. Even my London Road which was purchased at the same time as the other patchy quality ones is doing OK. Maybe they need to start charging a bit more and putting more emphasis on selling interesting designs that are backed up by a decent level of quality and customer service.

The road cc article comments suggests they are getting rid of permanent staff to replace them with short term contracts

Aha, they're sacking half the staff so they can employ them (or others) on a casual basis via an agency.

Looks like the sports direct comparison is a fair one then.

Wow, that really is taking a lead from Sports Direct.