British premium cycling clothing brand Rapha is set to have a “proposed organisational restructure and a formal consultation process”, as the company prepares to post deepening financial losses. Despite this, Rapha says that its “strategy is working”.
A press release on Wednesday afternoon, sent after Fran Millar announced that she had resigned as CEO, revealed that turnover had dropped by £7m from £96m in FY24, the period ending 26 January 2025, to £89m in FY25, the period ending 25 January 2026.
The brand also posted a trading loss in its EBITDA (earnings before interest, taxes, depreciation and amortisation) of £5.6m this year, an increase
