Rapha reports £21m annual loss with fewer new customers and RCC members as industry turbulence rages on

In accounts filed on Companies house on October 18 of Rapha’s annual financial statements covering 2023, under Carpegna Ltd, show that the brand closed the year out at an operational loss of £21m, making this the seventh loss-making year in a row for the British cycling brand. 

While this is undoubtedly not what the company would ideally like to have, when set against the industry headwinds that have seen layoffs and brands going out of business entirely, maybe the fact that it is still standing is worth celebrating.