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True, I guess the difference is that Rapha sells a unique product (even if you can buy it all over London) where as, like Howard pointed out, presumably this place will just be selling the same high-end bikes that you can buy at a number of other stores already. Also the market for high-end bikes may already be saturated where as Rapha was able to find an under-served niche
but yeah who knows, could take off and make £££
I'd have said the same about a shop selling cycling clothes in the West End but Rapha seem to be doing quite well.