Just had an email saying that Alpkit are being placed into administration (I'm a shareholder). Really sad news, albeit the company seems to have over-reached and overexpanded. While the clothing has been on the decline, I still love the bikes.
Was blissfully unaware that they were struggling. Hope they find a way to continue.
Gutted. I loved their gear and bikes! and general attitude. Such a shame
They had strayed quite a way from their original cheap kit remit, which can't have been helped by having bricks and mortar stores. It's a shame, but I haven't got any of their kit (except when I've been given a voucher) since their early days when they were a genuine alternative to the big outdoor brands.
Can't s ay I'm too shocked, last time I looked for a jacket for walking the choice was really limited and nothing special as far as vfm. Shame as the jackets I had from them were very good.
As per munrobiker, the stores seemed a bit odd, the one in Kingston always seemed quiet when I went there and had quite a lot of reduced price stock hanging around.
I'd have thought they would be a brand that could be restructured and turned around.
Been a fan since their early days in a unit in Ilkeston, when they'd drop my orders off on their way home, through to buying a Camino Ti at the end of last year.
I'd have thought they would be a brand that could be restructured and turned around
God, not another Mike Ashley company
Ooof, that's a shame. Like others, I was an early adopter but found them quite poor vfm in recent years compared to the likes of Decathlon and buying direct from Chinese suppliers.
Gawd I hope this doesn't mean we'll be seeing Alpkit branded stuff in Sports Direct soon.
Bugger. Love Alpkit!
Sounds like they already have an investor (not Mike Ashley) to keep it going, but not signed and sealed yet. In the meantime, they have gone into administration to support the winding up of existing company before investment makes them Alpkit 2.0. The statement also says they will keep stores open, no staff losses and will be fulfiling all orders.
Like others have said, I like what they tried to stand for and some of their stuff has been great (Sonder bikes being a brilliant addition withn the stable) but it does feel like too many similar products and not enough variation from what's already out there.
I wish them luck with moving ahead and hoping they can build on the good bits.
I'm a big fan of my Camino, and hoping they get a new investor (a-la Stanton) that keeps the ethos and cuts the waste, as was planning on buying the Ti version when my C2W resets.
Saddened by the direction they went with the clothing from genuinely great niche products and big brand beating value stuff, to an inflated and confusing range of mediocre tat of decreasing quality. Bad executive management seemingly to blame again, which is a shame as the ethos, former designers and staff were great.
Just hope they don't turn into the new Planet X
last time I looked for a jacket for walking the choice was really limited
I'd say the opposite to be honest, they seem to spread their offerings too thin, they have too many product lines. I've just looked and they have six different 'hardshell' waterproof jackets, f'r'example. The bikes are the same, they have 14(!) different models.
To be honest, I think this bodes well for the prospects of them coming out of this; there's is clearly simplification that can be done on the product lines that will hopefully simplify stocking costs. I hope so, I admire their ethos, I have some of their gear and a Sonder bike and wish them well, I hope they can come out of this.
I too have had that email & they have admitted that mistakes were made.
So hopefully they'll come back more Nukeproof than Muddy Fox.
Bad news, hopefully Alpkit 2.0 will return it their foundations.
In my opinion produced far too much. 30 types of t shirt, 20 types of fleece.. Etc. Doesn't seem hard to realise that is a lot of money sat around.
The bikes obviously proved popular, so hopefully this side will be kept going.
Hathersage is always fairly busy.
Hope the staff are doing OK
I haven't bought anything from Alpkit for years. One reason would be the sleeping mats. I've had quite a few and the failure rate was quite high, most were replaced but you lose a bit of trust. Another reason would be Decathlon, if I want something good value and I'm almost guaranteed to be able to pop in and pick one up then that's where I'll go. I've never been in the Edinburgh Alpkit store. Unless you live fairly central it's a bit off the beaten track, I'll drive past it most Fridays but it's not easy parking near it so I've never even stopped for a quick look.
That is a shame, I hope they survive and come through.
I feel they are in a strange position in that there are so many fabulous outdoor brands around with super quality kit. It felt like their prices were pushing higher and so the financial difference between them and say Patagonia was smaller and smaller, but in terms of quality and 'coolness', the difference was still great.
Their original position of value based alternative was far more attractive, as was the niche position they once seemed to hold with various bits of useful low/mid end kit from a reputable company
Ah damn, I've two of their bikes. As already mentioned I hope someone can turn them around that isn't Sports Direct
Flippin heck, does that mean ive now not got a warranty on my receantly purchased Ti Signal frame, just built it up but un ridden... 🤨 ..partly bought due to 10 year warranty...
Flippin heck, does that mean ive now not got a warranty on my receantly purchased Ti Signal frame, just built it up but un ridden... 🤨 ..partly bought due to 10 year warranty...
Says their @Alpine bond' remains, so would assume you're warranty will still stand, as long as the deal goes through.
Shame, hope it can be turned around and the staff looked after.
Still enjoying my Camino Ti.
Their 'value based alternative' was copying good stuff developed by 'proper' outdoors companies using Far Eastern labour/manufacturing, buying it by the container load and selling direct. They then got all up themselves/Cotswold Camping and opened lots of shops/expanded their product lines AKA massively increased their overhead and capital employed.
I always thought they were originally a bit like Hunt; cheapish Chinese stuff, easy to deal with, sold on shore and with a decent (easy) warranty. Once they stopped being that, I'd prefer to go to the companies they originally stole their ideas from.
That's a real shame. Had noticed they have had a lot more sale periods than I've previously noticed over these last few months so was wondering if there was more to it
As others have said, they seem to now sit in a weird position, I feel like they don't know what they want to be, ie Decathlon level clothing at Rab prices. A long way from the cheap n' cheerful brand that I still think of them as.
Looked the other day and they're doing £350+ waxed cotton daypacks alongside £40 Gordon drybag ones 🤷
Shame to see them struggling, hopefully they can pick a lane, slim down the range and get back into a viable position.
I think the only Alpkit item I have is a Quark headtorch, which I like and use a lot, but I’m sure I could find something else that’s just as good. 🤷🏼♂️
Never tempted by any of their bikes, I’m perfectly happy with my Inbreds.
Just got my quote for C2W Camino this afternoon! Is it a risk ordering off them right now, or does it look like still trading?
Quote says delivery week of 5th Feb - too risky?
Oooft, that's a shame.
Like so many on this thread, I've a good few bits of thier kit from early on. Still my favourite riding layer is one of their merino riding jerseys. We've head torches, a few base layers, fleece, trousers, dry bags, accessories and a sleeping bag.
But I've not bought anything for a few years. They didn't offer a saving over many other brands IMO, that was an early big appeal.
My son lived almost over the road from the Edinburgh store, and both sons have friends working there. I have to say the last time we were in (hoody and fleece bought) the store was empty on a damp winter Saturday afternoon, just when I would have thought it was busy...we chatted with sons pal and other staff for a good while - no other customers...
I also tried to get a work (environmental/outdoor education charity) account to buy 30 uniforms. After half a dozen attempts to call / discuss we were basically turned away...so we are all now in Berghaus. Which is another company being restructured alongside Endura....
Hard times.
I think Alpkit starting by making things like Bouldering mats in the uk.
In general there are a brand i like. I’m frustrated by the continual sales. If you wait the prices are great. But the full retail price is hi to make room for the discount. I understand why the sale is attractive as a reason to buy. But for peolet who are less familiar with the brand and only look when they need something it makes them expensive.
I quite like the shops in terms of vibe. But they are a bit odd in that although there do loads of product lines they still have gaps in what they sell. No maps and only a limited range of bikes for example.
Good that the business effectively remains the same for employees from the sound of it, but does that mean all those crowdfunding shareholders are going to get shaken down for pennies in the pound?
I sort of half know the guys who set up originally (mates of mates from my paddling days). Hope all goes well and are back on their feet and staff looked after. We're and always have been helpful, whether st the Ilkeston site or more recent time in the Hathersage shop. And had a repair team to do repairs on kit (not just Alpkit) too which was excellent.
When they set up, they were unique in selling good own-brand kit for half the price of the brands available 20-30 years such as Thermarest, Mountain Harware, Berghaus etc. They've ben squeezed since with the advent of Go Outdoors and Decathlon, along with places like Mountain Warehouse at the cheap end.
Ah bugger! Love the Alpkit stuff I have - most days I'll have worn something Alpkit at some point in the day - current sitting in my Morphosis jacket, genuinely one of my favourite jackets I've owned (old logo too it seems). A lot of their stuff just seemed to fit me well compared to alternatives.
Coincidentally I almost visited the Edinburgh store for the first time on Saturday afternoon - didn't realise was only a few mins walk from the Commonwealth Pool I was at. Thought it'd be dangerous for my bank balance so didn't bother.
Just got my quote for C2W Camino this afternoon! Is it a risk ordering off them right now, or does it look like still trading?
Quote says delivery week of 5th Feb - too risky?
Use a credit card for protection.
Just got my quote for C2W Camino this afternoon! Is it a risk ordering off them right now, or does it look like still trading?
Quote says delivery week of 5th Feb - too risky?
Use a credit card for protection.
I don't know what happens, whether it becomes the scheme provider, your employers or your problem, but buying on a credit card isn't a C2W option...
I always thought they were originally a bit like Hunt; cheapish Chinese stuff, easy to deal with, sold on shore and with a decent (easy) warranty.
I was really disappointed with the Ti post I bought, the design was really cruddy and I was actually relieved it was out of tolerance and impossible to put in the frame as I could legitimately return it. Put me off buying anything else as I figured it was just cheap stuff rebranded.
Still a shame, I liked their community rides etc
Agree mostly/partly with what @boblo said.
A lot of the gear is/was far east stuff maybe not copying, but closely resembling other brands. When you can get the same item from AliExpress for 1/3 of the price, or for not much more outlay then get a Gucci brand, then what's your USP?
Not always the case, though. I think they do have a fair bit of stuff that's designed in house and unique to them that I really like.
Also agree about the too broad /overlapping product lines
Does this mean there might be some mega PSAs incoming.... IGMC
Seriously though I hope it works out for them, think they're a well meaning brand
Hmmm I was going to head to the Ambleside on Friday to try on some overtrousers for an upcoming winter skills course. Do agree though most stuff isn't really cheap any more, I've considered one of their smocks now for a few years but they're always just a little too expensive.
Hmm so who is going to suffer to learn from their mistakes and clear all mistakes for Mk 2 . Doesn’t sit comfortably with me
Any word on the community of crowdfunders and their £4 million investment?
Some of Alpkit’s basic stuff such as dry bags, Gordon rucksacks, their running tights, etc has Kept me coming back to them. I have built up a couple of their frames for others too. I hope they can sort out their problems and carry on.
Any word on the community of crowdfunders and their £4 million investment?
All gone, but we will get shares in the new company, no details yet on how much that will be worth.
Seemingly all written off. My other half is not happy.
That's really a little sad to read.
I've had (not enough) daft, mini adventures that have involved their kit over the years.
Really hope they can come back from this if only in a more limited and focused form.
That's a shame. Hope Alpkit 2.0 works. I have been an Alpkit user over the years from when they started. I think 4 jackets, mats, some jeans, a tent.... and mostly all pretty good. Some returns for repairs and some out of warranty repairs... all fixed to a good standard. No complaints with the repairs and support. The tent in particular, a simple 2 person tunnel gets used many times a year in all weathers for many years now... and it's still reliable. Jeanius jeans are my favourite jeans too.
I think everyone grabbed their first bikepacking stuff from them, probably helped move the bikepacking gear from the niche of small businesses making nice but pricey stuff to more mass produced and cheaper ,making it easier for people to buy and get out there and gave bikepacking a wider audience.
I’ll be sad to see them go thou 🙁
Any word on the community of crowdfunders and their £4 million investment?
Was it ever an investment? Looked like a glorified donation to me.
Was it ever an investment? Looked like a glorified donation to me.
Quite.
Best not throw too many stones in this particular glass house...
Same though as many above. Bought loads of their gear over the years and just received a Polestar tend for some long solo walks in the spring. Still wearing original Filo jackets for cool nights in the van and my favourite sleeping bag still a 10yr old Alpkit. More recently I would wander into their shops in Keswick or Ambleside and walk out with nothing. It had become too expensive and I always wanted it to offer better prices than Rab/Montane etc for similar kit. Maybe I am wrong to have that perception but they cultivated it early on and it's difficult to change that mindset. I really hope they survive.
Could someone please post the email up? I'm a very minor first gen investor & haven't received it. Thanks.
It isn't surprising really. I live quite near to the Hathersage shop but the last few times I've been in I have left empty handed. They seem to have lost their way a bit and look to be trying to become a premium brand. What they started out with was kit that was 90% as good as the really high end stuff but at 50% of the price but lately they seem to be creeping up to not much better priced than some premium brands and basically it has split potential customers into two groups as far as I can see it. Group 1 are the folk who want the really effective products but are now thinking "It's almost the same price as --------(insert premium brand here) so I may as well get one of those instead and Group 2 are the people who are more value driven who will now just go to Decathlon and buy their (admittedly really quite good!) stuff there.
I think everyone grabbed their first bikepacking stuff from them, probably helped move the bikepacking gear from the niche of small businesses making nice but pricey stuff to more mass produced and cheaper ,making it easier for people to buy and get out there and gave bikepacking a wider audience.
Yeah I'd forgotten that. I'm still using their bike packing kit mebbies 10 years later? They did (do?) a made to measure frame bag that fits into the triangle for cheap, I think I paid ~£70 for mine. Their other bikepacking bags and bits n bobs have been A1.
I also have an aluminium Camino frame I bought in their sale for about £200 IIRC. It was obsolescent (quick release/post mount brakes) but shhhhh, it doesn't know... I built it into a cheap gravel tourer mainly with bits lying around and it's been ace.
Last one (I'd also forgotten) was a Visio tent (Hilleberg Nallo copy) I bought a few years ago for car camping. It was cheap at £170 and heavy at nearly 4kg but is fine for its intended purpose. I wouldn't carry (preffering lighter kit) much that they've made (apart from the bike packing bags) but when the kit is cheap and a reasonable copy of something decent, it stands some scrutiny.
Having wandered off that path, they seem to be struggling. I do question myself each time I buy a cheap copy of something from them as it's not really on is it? Call it the Aldi approach...
They did seem to catch the bikepacking wave at one point early on. I'd already been using my Revelate kit for a few years when they popped up and could see "flaws" in some of the designs but I could also see that it was more affordable. Their prices seem to have risen faster than everyone else though, so that budget-friendly approach has been dropped at the same time as other folk have stepped into the market. If I was starting out I'd be looking at the likes of Rockbros now.
The only thing I've bought from them directly is some 3/4 running tights which I love and I'm hoping I'll get a chance to buy another pair.
Other than that they seemed to have an ever increasing selection of clothing and I hate buying clothing online as I'm just too bloody fussy. Trying to judge the warmth, thickness, stretchiness of materials from online descriptions is pants. Maintaining a line of a few basic items seemed to make more sense for an operation based on just a few bricks and mortar shops.
I'd like to see them survive if the lessons learnt involve going back to their roots somewhat but, either way, I hope the staff are ok.
What they started out with was kit that was 90% as good as the really high end stuff but at 50% of the price
There must still be a market for this kind of thing (although I guess it might be 60/70% of the price these days). There are plenty of people, I would have thought, who want 'decent kit without the bullshit' - people like me who are 'general outdoorsy' people. People who spend a lot of leisure time in the outdoors walking, cycling, swimming, running, whatever, so want stuff that's better than Mountain Warehouse bargain basement fare, but recognise that they also don't need to buy something from Mountain Equipment that'll take me to the top of Mont Blanc. They might also pay a bit of a premium for the 'good intentions' of Alpkit (them being a BCorp etc)
And I know this is a drum I've already banged, but a massive slimming down of their product lines - they have seven different headtorches, three different camping/ tent lanterns, four different bike headlights, 12(!) different sleeping mats...
And I know this is a drum I've already banged, but a massive slimming down of their product lines - they have seven different headtorches, three different camping/ tent lanterns, four different bike headlights, 12(!) different sleeping mats...
Ah. That's another reason I've not bought much from them. With so many lines there are often gaps in availability. You See something you like, try to buy it, it's out of stock. Get put on a mailing list for the restock and wait months, by which time you've bought something else.
does that mean all those crowdfunding shareholders are going to get shaken down for pennies in the pound?
They're not getting 'shaken down', they're discovering that their investment didn't work out as they hoped. That's the risk you take when you invest in a company.
There must still be a market for this kind of thing (although I guess it might be 60/70% of the price these days).
For me you're describing Sports Pursuit
last filed accounts (2024) are showing a £1.4M loss. Production cost being the single biggest risk. I think they were using an ILF and it doesn't look like they had a long term agreement with their bank They gave themselves a couple of years to turn it around, aiming to make a profit in 2026. I reckon the bank said no...
Could someone please post the email up? I'm a very minor first gen investor & haven't received it. Thanks.
I am writing to share some extremely difficult news and the hard choices we must take
to ensure Alpkit continues.
We’ve faced incredible challenges over the last three years—rapid cost inflation,
challenging market environment and new trade barriers coupled with the rising weight
of interest rates and recovery loan repayments. While we have made huge progress, and
came incredibly close to a successful turnaround, my Board recognises that these
pressures have created an insurmountable mountain for us to climb as we currently
stand.
It is an extremely sad day for everyone at Alpkit, and for us co-founders in particular.
Today, we are confirming that the Board has accepted that we must place Alpkit into
administration. We have applied to the courts to start that process. It is hugely
regrettable, as unfortunately, this means the value in your shares is lost.
As the main shareholder and Chief Executive, I carry the weight of this personally. Under
my leadership, we have made mistakes. But overall, we have done so much more right.
Alpkit was founded on friendship. One of the personal pleasures of this journey—which
makes this decision so much harder—is knowing that behind every transaction is a
human relationship. People we know, we trust, and we enjoy doing business with. To us,
you have always been far more than lines and numbers on a chart.
Alpkit has been a lifetime's work with so many highs: award-winning products, industry
firsts, and the honour of being named Outdoor Brand of the Year just this past
December. Throughout this time, your support has been overwhelming. You have
inspired and energised us with your guidance, your product feedback, and your time
spent with us at AGMs, Big Shakeouts, and on our gravel rides.
The Path Forward
We are in advanced talks with a new owner and investment partner and expect to share
news with you shortly. Everything is in place to complete the deal. We expect that all
jobs will be saved, our stores will remain open, and all customer orders will be fulfilled.
The Alpine Bond remains strong. Our pipeline of new products is as exciting as ever. We
remain here to help you Go Nice Places, Do Good Things.
In doing so, we are doing something rare. Every shareholder who joined us through
either of our crowdfunding campaigns will be given shares in the new company. This is
not just a commitment from the team here; it demonstrates how well-aligned our new
investor is with each and every one of you. You invested in us, and although that original
business is lost, we want you with us with a stake in our future.
I’d like to thank you personally and also on behalf of Nick, Col, Kenny and Leigh for
supporting us through the highs. Our entire team looks forward to emerging from this
low—together. And with your continued stake in Alpkit, we look forward to having you
alongside us on the journey ahead.
David Hanney
Chief executive
What options were considered leading up to this decision?
We have been working with BDO, a leading advisory firm, on strategic financing options.
With them, and working with our banks, we considered all options:
- Restructuring our recovery loan debt including a potential debt for equity swap
- New solvent investment from private equity, high net worth individual or trade
sale
- A discounted rights issues to existing shareholders
- A third Crowdcube fundraise
- Pivot our strategy with deep internal restructuring and cut backs – disposing of
part of our business to a smaller, profitable core that can service our legacy
recovery loans. Trading our business – with a call of support from all our
customers - and aim for a ‘great escape’.
- Business break-up
Last October we wrote to you setting out our financial challenge. Shortly after, we
engaged BDO believing it was likely we would need investment. With BDO we
undertook a comprehensive review of options and approached 180 investors. More
than 60% responded and 50 parties looked closely at our business.
Our priority is to all stakeholders: customers, staff, creditors, banks, shareholders,
suppliers and the people & places we operate.
At this point it is worth recognising the great support we received from our banks: HSBC
and FSE Group. They have supported us throughout this process and enabled us to
reach a successful transition to a new owner. We are fully aware that not all banks do
so and our heartfelt thanks go to the teams at these banks – they too are the good guys.
We weighed up the pro’s and con’s to all these options and believe this financial
restructuring through a pre-pack gives the best outcome overall balancing all our
stakeholders.
Is there an alternative to this proposal?
It is hugely regrettable that without an investment of this type then we’re likely facing
business break-up and closure.
A priority of the Board has been to protect jobs and we are pleased that all staff will
transfer to the new company; customer orders will be fulfilled and the Alpine Bond
warranty remains intact. Our commitment to Alpkit Foundation and opening the
outdoors to someone new continues. Our priority is now to minimise disruption to
customers as we build from this moment.
Who is the new investor?
The investor is entirely new to Alpkit and is not connected with any director or
stakeholder.
Jeroen van den Berge, who runs his own investment fund, has a background in strategy
consulting, product management and finance before co-founding and leading an
industrial supplies group. Quite the outdoor enthusiast himself, what excites him about
Alpkit is our strong heritage and values, leading product credentials, direct-to-
consumer model and loyal membership base.
Jeroen will not be taking on a leading role in the business, but will instead support the
existing leadership team on delivering Alpkit’s growth plan.
What is happening to the co-founders and directors?
The current directors and co-founders will continue working in the business. Like all
shareholders, the value in their shares is lost.
What will this restructuring achieve?
The pre-pack gives a clean start that clears our Recovery Loan legacy debt. It protects
jobs, secures Alpkit’s future and enables us to deliver our growth plan.
An outcome of this process was the unanimous affirmation and support from our
potential investors to our growth plan. This financial restructuring enables us to focus
on product and service and to get back to good profitability.
The path is to
- re-source it’s production from high wage and high tariffs territories to lower cost
and lower tariffs. We can improve quality, desirability and performance whilst
reducing cost.
- add new products and brands such as Trakke and footwear
- accelerate growth through marketplaces
- keep a relentless focus on our cost base so every £ spent delivers better sales,
products and service.
This does not mean we are going cheap, downmarket or anticipate a drop in our product
standards – we remain totally committed to technical performance, social justice and
environmental responsibility – it will let us compete better on performance and price in
a challenging market environment. And gives us the profit margin so we can make
money on the products we sell.
With your continued stake in Alpkit, we look forward to having you at our side.
You do not need to take any action now. We will be in touch when this is set up (please
give us 90 days).
What happens to Shareholder Rewards?
We intend to keep our Shareholder Rewards scheme as-is that gives Discount
Dividends based on the amount you spend with us.
What happens to my shares?
At the end of this process the existing company will be dissolved. In an administration,
shareholders are last to receive any value after staff, the taxman and suppliers. It is
probable there will be no return to shareholders. It is regrettable that all the value in
your shares is lost.
Can I claim tax relief on my loss?
Although this is little comfort, we do believe you will be able to claim a capital loss in
your tax return for the lost value.
You can carry forward the loss to reduce your tax payable on capital gains this year or in
the future.
Note – if you don’t have an existing tax adviser it is worth exploring the potential for this.
What do I need to do next?
You don’t need to do anything. Crowdcube will take their necessary steps and we will
be in touch within 90 days with an update on your stake in the new company.
Thank you for your continued support through these troubled days.
I've known the guys who started Alpkit from way back when, good people with a vision to make good kit at competitive prices and, where possible, in the UK. They've actually changed their model from the beginning when it was all about leveraging the savings in being an online only operation to give them a big price advantage. Then rather than being seen as producers of 'cheap kit' - as per some of the comments on this thread - they started to focus on producing good kit full stop, but at a reasonable price and opening actual bricks and mortar shops, expanding into the bike market etc.
I suspect the problem with that is that they still don't have the resource of the big technical outdoor brands, so while you can bring in a Rab designer to oversee your clothing range - which is what they did - you don't have the same access to the best factories, fabrics etc. My experience of their recent stuff is that it's solid and generally well-made and designed, but it lacks the polish, for want of a better term, of Rab, ME, Montane etc. Fwiw, I don't think the outdoor industry as a whole is having a great time of it, similar to the bike industry. Anyway, I wish them well, really good people.
Yeah, maybe, but I can't get on with SportsPursuit, they just have too much stuff. If I want a jacket I don't want a selection of 300 jackets to choose from.
Sport Pursuit is a basically a warehouse clearance business rather than a brand. It's great if you know what you're looking at or for and which brands you trust and can filter out the noise from those you've never heard of. Just to complicate things, they also have their own in-house 'brands' which are permanently 'discounted' though not actually available elsewhere. They're perfect if you want, say, a Rab or Montane waterproof jacket and they have what you want at 50% off, but yes, it helps to have an idea of what you're looking at.
Seems amazing they're planning to go with another Crowdcube raise after what happened last time.
My experience of their recent stuff is that it's solid and generally well-made and designed, but it lacks the polish, for want of a better term, of Rab, ME, Montane etc.
Perfectly put.
Seems amazing they're planning to go with another Crowdcube raise after what happened last time.
Not just that, but it looks like the existing Management, the ones that got them into this pickle remain. So after wiping the slate clean, it looks like they just carry on with the flawed business model that delivered this situation. For me, they need to be either one thing or the other. Either an online only, low overhead, good value 'worthy' kit supplier or a polished high street, high end outdoor brand delivering high quality/desirable products at sustainable margins.
So many decent brands have gone South that it seems building a brand and enhancing its desirability beyond the hardcore outdoors market (ie where the high margin/high volume sales live) is a fools errand. I'm not a Marketeer so probably don't fully understand their witchcraft but this seems really simple to me. Cut some costs, consolidate the range and get back to the (successful) core business. Forget world domination, it's overrated...
Seems amazing they're planning to go with another Crowdcube raise after what happened last time.
Aye, well. I got my fingers burned (for money I could afford to write off) on Pedal Me so...
It's a pity this has happened, particularly as Alpkit didn't that long ago resuscitate Trakke whose stuff I really liked.
Not just that, but it looks like the existing Management, the ones that got them into this pickle remain. So after wiping the slate clean, it looks like they just carry on with the flawed business model that delivered this situation
That struck me too
Not just that, but it looks like the existing Management, the ones that got them into this pickle remain. So after wiping the slate clean, it looks like they just carry on with the flawed business model that delivered this situation
Stuff like this might be legal but it seems morally wrong, somehow.
It's not just daft, it's more than likely to result in a repeat performance. I know they won't have the heavy weight of external debt hanging over them but they'll have similar in an investor looking for a return on his investment. Not that much different in terms of requirement to deliver profit...
From that letter...
The pre-pack gives a clean start that clears our Recovery Loan legacy debt.
That's yours and my money being written off. But whatever it's only money from the government.
And that letter reads like we've dropped our current suppliers in the financial shit (who they must have been happy with) for cheaper ones as we can't go back to the original ones. If management was doing their job why weren't they sourcing from cheaper places anyway?
Seems amazing they're planning to go with another Crowdcube raise after what happened last time.
From the email, seems they considered it but they're being bought by a private investor, no?
They definitely need to consider what the strategy is going forwards and where to position themselves.
I suspect the problem with that is that they still don't have the resource of the big technical outdoor brands, so while you can bring in a Rab designer to oversee your clothing range - which is what they did - you don't have the same access to the best factories, fabrics etc. My experience of their recent stuff is that it's solid and generally well-made and designed, but it lacks the polish, for want of a better term, of Rab, ME, Montane etc.
Perfectly put - and I think said ex-Rab designer has left to start her own woman's specific brand too? The lack of polish, plus not being bougie enough to appeal the Arcteryx/Patagonia Gorpcore consumers narrows their market to generally outdoors enthusiasts only - i.e. not Fashiony enough to compete with Finesterre, not quite as polished as ME/Rab and without the label prestige of Patagonia, your appeal is limited. Throw in ever increasing overheads and it spells a bit of trouble.
Would love to see Alpkit 2.0 survive, but cut the product lines back significantly.
I've got quite a bit of their stuff, but I'm not planning on getting more because they don't sell anything else I need. A good deal of it is available elsewhere, the nice thing about Alpkit is that you can get it in one place. And you can view it in-store too where you can talk to knowledgeable staff. That's something that Amazon can't offer even if some of the kit is very similar.
Something I haven't seen mention yet is the fact their Ti cookware can be the cheapest on the market when they have a sale on. Even the stuff from Aliexpress is dearer!
I have a bunch of their camping gear and some bikepacking bits. I really like it all tbh
I also like visiting the Ambleside shop, the folks who work there are lovely.
Sad this has turned out like it has, but hopefully they can keep going and keep everyone's jobs.
P.S of course this would happen a month before I build the Sonder Transmitter frame sat behind me... i hope nothing is wrong or missing 😆
If management was doing their job why weren't they sourcing from cheaper places anyway?
TBF to them, they're probably trapped in a space where they need enough orders to make the price point with the manufacturing factories, and provision enough stock for their stores, but trying balance that with (probably)pretty firm payment terms - maybe even up front, and underwhelming sales. Something had to give.
Although, I'm surprised that part of the deal isn't closing the stores and going back to on line only.
Sad news, but personally I'm glad I collected my Camino Ti last week (lucky timing, I had no idea they were in trouble). Fingers crossed I don't have any issues, I don't want to test if they actually honour 'Alpkit 1.0' warranties. I've got a lot of their kit and was looking to get a few new bikepacking bits when the dividends come through.
Will the dividend system stay/be honoured? Nearly £3k towards the next batch was a significant side bonus of the new bike. EDIT - saw that in the email above, it will stay
I also bought a Planet X Ti bike a week before they went into administration a few years ago, bit of an unfortunate coincidence.
Seems amazing they're planning to go with another Crowdcube raise after what happened last time.
They aren't, it was one of a number of options.
Once again on this type of thread there's no mention of the creditors. All those hard working people who made the stuff, sold them the stuff, rented them stuff, provided services that never got paid for etc. Poor sods.
Does anyone know how much the founders were paying themselves one way or another over the years they ran up all this debt?
Liability needs to be less limited. I'd have directors return any dividends paid to them over the previous five years and any salery over the average wage in the previous five years upon bankruptcy.
the lack of polish, plus not being bougie enough to appeal the Arcteryx/Patagonia Gorpcore consumers narrows their market to generally outdoors enthusiasts only - i.e. not Fashiony enough to compete with Finesterre, not quite as polished as ME/Rab and without the label prestige of Patagonia, your appeal is limited
But, if you price it below the likes of those brands, I'd say your appeal could be pretty broad to savvy outdoor enthusiasts, of which I reckon there's a lot. As above, 90% as good for 60% of the price is an appealing proposition (at least to me)
That doesn't work when your customers filled their boots when wiggle went bang and your competitors have all had >30% off for most of the past 3 years.
I got quite a bit of Alpkit stuff when they started out, but their value proposition just isn't there any more.
The shops have a really good repair service, something that is unusual in the throw away society. When I visited their Betws-y-Coed store last year, I wasn't really tempted by anything on offer. As others have commented their offering falls in between the low cost Go Outdoor/decathlon own brand stuff and more expensive brands such as Rab.
Stocking everything from paddleboards, bikes and tents through to outdoor clothing for every conceivable condition or activity can't be sensible for a company of Alpkit's size. They can't possibly have the resources to properly specify and review suppliers for their entire range.
They have definitely lost their way in the last few years.
I have had lots of kit from them over the years from cheap Thermarest clones that went round New Zealand, head torches, dry bags, stuff sacs, a down vest (i need to get the zip fixed on that) a Primaloft Jacket thats still in daily use during the winter months and most recently a pair of their Arnison hiking trousers. All of which were pretty inexpensive, with the possible exception of the trousers.
As others have said, they aren't cheap enough to make people choose them rather than Rab or ME but don't have the street/country pub cred of those brands.
I was in Betws couple of years ago and walked up the road having a nose in the outdoor shops and aside from it being all the same brand and having a bike shop downstairs, it struck me as "not cheap". In fact if you needed a jacket of some description you could have probably picked up a discounted one from Cotswold cheaper than buying one from Alpkit and that's even before considering the cheap Regatta shop down the hill.
Same goes for online shopping.
Their filoment micro baffle down jacket is currently £128 down from £160. Their Katabatic synthetic insulated jacket is £125 from £180.
Alternatively you could buy the Fjern equivalent for £80 for the down from Sportpursuit. On Cotswold similar Jackets start from £100 or so depending on size.
They need to go back to their roots imho, "good enough" proper outdoor kit that's actually meaningfully cheaper than the Rabs of this world, if that means online only so be it. The current approach is clearly not profitable.