Cycling apparel company, Velocio, today announced that it sold the brand to American bicycle component manufacturer, SRAM, for an undisclosed sum.
SRAM’s foray into softgoods comes just weeks after SRAM announced the acquisition of the Hammerhead cycling computer brand, and they seem to be actively expanding their family of subsidiary companies.
“Velocio, today, is a brand we’re really proud of, the brand we set out to create,” Velocio’s leadership team of Brad Sheehan, Andrew Gardner and Olivia Dillon said in a statement.
“Yet, there’s a unique challenge to running a business that often gets overlooked: succeed and your reward is a deeper expectation to grow. Grow too large, too fast and the risk is the often -lamented loss of brand, the dilution of product, and corner-cutting changes to boost profits. We won’t do any of those things.”
In SRAM, Velocio believes to have found not only a buyer with the capital to support growth, but also a partner that shares the same values.
“We approached SRAM precisely because we thought there might be a place in their well-respected orbit of components and bike products for us. We approached SRAM because our cultures are compatible…SRAM’s loyalty to their own employees and their efforts at outreach through World Bicycle Relief, among other causes, fits with how we see bikes and people and business,” said the statement.
Velocio and SRAM share a history that dates back to 2015 when they co-sponsored the women’s UCI pro cycling team, Velocio-SRAM, which was home to riders like Tiffany Cromwell, Lisa Brennauer and Tayler Wiles.
They continued their relationship through shared event and athlete sponsorships as well as marketing efforts.
With SRAM’s backing, Velocio will be able to do more independent product design and development, including a continued push toward sustainability in their product offerings and delivery. Velocio also gains SRAM’s reach into racing and teams as well as their insights into global distribution and retail support.
However, the apparel brand’s supply chain, manufacturing, and product design will remain separate from SRAM’s manufacturing arm.
“If the burden of a growing business is to grow ever further, there are few partners more suited for that future in the cycling industry than SRAM,” states Velocio.
With this merger, Velocio joins SRAM's burgeoning list of subsidiary companies, including: Hammerhead, RockShox suspension, Zipp wheels and components, TIME Sport pedals, TRUVATIV bars and cranks, and Quarq power technology.
