Velorution has acquired fellow London cycle retailer Fiztrovia Bicycles, CyclingIndustry.News has learned.
Jonathan Cole, Velorution’s managing director said of the deal: “We are really excited to welcome Fitzrovia Bicycles to the Velorution family with our acquisition of certain assets of this iconic bike store”
The acquisition was made after Fitzrovia, based in New Cavendish Street, reached the end of their current lease. Spiraling rents and rates in the area made it impossible for the store, which had a very heavy focus on workshop services and bike building, to continue trading.
“When Fitzrovia approached us we made a very quick decision to move all their retail and workshop facilities to our Great Portland St locations less than 500 metres away so that customers could continue to enjoy the Fitzrovia customer experience uninterrupted.”
The Velorution business operates from a flagship Great Portland Street branch, with two further branches, including another of its former acquisitions, formerly London’s Mosquito Bikes.
CyclingIndustry.News interviewed the owners in December of 2016 on the likelihood of further expansion as we progress through 2017.