Velorution has announced the acquisition of global online retailer, Always Riding, which specialises in cycle clothing, accessories, bags, bikes and lifestyle products.
Based in London, Velorution focuses on the quality electric and urban cycling sectors, with the company experiencing significant growth and expansion throughout 2018.
Always Riding will continue to run as an independent web business, enhanced by the addition of Velorution’s sales and marketing team and product lineup.
Established in 2008, the Always Riding online business has grown its customer base to around 20,000 active customers, becoming a Google certified store and offering brand selection for road, trail and urban and city cycling.
However, the company announced last year that it was set to end its retail operations in late December, in order to focus efforts on providing third party fulfilment services to premium cycle brands. Always Riding revealed it has become increasingly successful in providing fulfilment logistic services over the last year and a half, and was looking to work with small to medium-sized brands.
Conrad Lewis, Velorution’s Managing Director, said: “Velorution shares similar values which makes the acquisition a perfect fit for our business and will accelerate our online growth to reach a larger global audience.”
Since the acquisition of the Velorution brand in 2012, the business has increased revenues six times over with revenue growth of 49% for 2017/2018.
Velorution Chairman, Jonathan Cole, commented: “2019 is going to be a very important year for Velorution. We are currently crowdfunding on the Seedrs.com platform to enable the opening of two more electric and folding bike stores and grow our online business and we are currently at 74% of our target.
“The acquisition of Always Riding comes at a perfect time and will supercharge our global online ambitions as we continue to grow the Velorution brand.”
Velorution’s crowd-funding aims to deliver its Electric format stores, of which two are planned for 2019. Investors will be given the opportunity to buy shares through Seedrs, a crowdfunding platform which allows people to invest from as little as £20.
Last month, Velorution announced a distribution partnership with Tucano Urbano Cycling Collection in its official first-time launch in the UK.