Storck has ended the contract with UK distributor Veilo Sports, the German firm’s largest distributor.
Ian and Trevor Hughes, Veilo’s owners, have held the brand over the past five year period and recently received a cash injection from a third party to help drive the brand’s forward growth. Last year the firm managed to drive a 68 percent growth in sales.
Dealers CI.N has spoken to have said that the father and son team has been calling stockists in person to break the news, allegedly outlining how purchasing requirements have changed for Veilo and how it would be unable to satisfy the requirments of the brand.
Ian Hughes said: “We do not wish to burn our stock by selling it off to any internet only retailers as our dealer partners and friends have invested in their stock. We are currently working with dealers to support them and the stock they have.”
Hughes went on to say: “We are very disappointed that our contract has been terminated after working very hard to build the Storck brand in the UK, we will deal with it, as we have always done, with honesty, truth and integrity.”
Veilo’s loss of the high-end bike giant leaves it solely in charge of the distribution of Lightweight goods in the UK.
We have reached out to Storck in Germany for further comment.