I don't think the point was about profit and the levels of, it was whether their garments are of good value. Which isn't always a product of their cost to market, manufacture and sell.
I agree that the market for people with a bit of money who wanted to look less shit on their bikes was poorly served until Motram's army stole cycling ;)
I wasn't making much of a comment on the perceived level of value, as its always subjective (only pair of shorts that don't leave you with sores = value etc. etc.). Was mainly pointing out why some may have an issue with the pricing and how direct to consumer differs from wholesale.
I don't think the point was about profit and the levels of, it was whether their garments are of good value. Which isn't always a product of their cost to market, manufacture and sell.
I agree that the market for people with a bit of money who wanted to look less shit on their bikes was poorly served until Motram's army stole cycling ;)