BikeBiz Bicycle and cycling retail news
Velorution, the London-based premium urban and e-bike retailer of 20 years, is for sale.
Originally a small store near Oxford Circus, the business now trades online, and from four key sites in the capital: Marylebone, Islington, Chelsea and Hackney.
Velorution was taken over in 2012 by Jonathan Cole who saw both the potential in urban cycling and in the Velorution brand. Later that year, the first store opened at 88 Great Portland Street.
In 2016, together with partners Seedrs, Velorution raised more than £600,000 in funding to take the business to the next level.
The following years saw Velorution win a BikeBiz Award for Best Independent Bike Dealer, as well as opening a new store in Chelsea and a standalone Velorution Electric site.
Between December 2019 and December 2020, the company’s e-commerce channel also took off, seeing a growth of 239%. This saw them place 17th of Brightpearl’s Lightning 50 list which recognises some of the fastest growing e-commerce stores.
Among the retailer’s current portfolio of brands are well known manufacturers including Brompton, Carbo Gazelle, GoCycle, Kalkhoff, Moustache, Orbea, Schindelhauer and Tern.
Velorution also offers a wide range of accessories, bags, clothing and components, as well as stocking its own collection of footwear.
Earlier this year, the retailer was forced to temporarily close its Marylebone store after a car crashed into it.
It came just six weeks after a separate incident in which a bus crashed into Velorution’s Chelsea store,
Following the incidents, Jonathan Cole said: “I’m starting to think one of our competitors is to blame.
“On a serious note, I’m glad the shop was closed and no one was in it at the time of the event.”
The business has appointed Proudley Associates to handle the sale.
Interested parties should contact Olivia Proudley at admin@proudleyassociates.com or by calling 01425 200366 or 07919 891130.
