Mobike Pedals Into Fashion

Pedalers who can’t get enough of China’s bike-sharing frenzy can now strut one of the leading brands, with the rollout of the industry’s first swag from sector leader Mobike.

The company, which along with Ofo are the clear leaders in the space, has formally launched its first piece of branded gear — a raincoat tailored for riders of its trademark orange and gray bikes with their funky wheel designs and space-age airless tires.

The limited-edition black-and-gray poncho-style slickers were going for 268 yuan ($39.40) a pop, according to an advertisement on the website Youzan.com, boasting of Mobike’s pairing with an independent designer to create the product.

“As we head into summer, many cities are seeing frequent rain and need to take care when riding bikes outdoors,” Mobike said in promotional material with the new product. “The Mobike raincoat lets us diversify into our customers’ lives, giving riders greater safety, more interest and fashion.”

Beijing Mobike Technology Co., Ofo Inc. and about a dozen smaller rivals have taken over major cities throughout China over the last year, placing millions of loaner bikes on the streets and sidewalks. On Thursday, Ofo revealed that it plans to add 20 million bikes to its network this year alone, as it disclosed it had just closed a new funding round worth a massive $700 million.

But so far the pair have limited their respective names to actual bikes, which can be opened using smartphone-based apps and then parked anywhere when a user is finished. Total fees are usually small, averaging 1 to 2 yuan per hour, meaning the new swag could provide a significant source of new income.

A person close to Ofo confirmed that Mobike’s chief rival, known for its own distinctive yellow bikes, has no comparable branded merchandise yet. But she added she isn’t worried about competition.

“Their raincoats are quite unattractive, and also very costly,” she said.

Contact reporter Yang Ge (geyang@caixin.com)