Veloine has been on the market since 2019 and offers cycling clothing exclusively for women. With the ISPO Brandnew Winner In 2021, the young company received an award for the most exciting newcomers in the sports industry. In the same year, the startup received the Eurobike Gold Award for its innovative maternity cycling clothing.
But Veloine was unable to continue this successful streak. In recent months, the Pursue The company sought investors, but was unable to successfully complete the planned financing round. Therefore, the business cannot be continued under the current circumstances.
Co-founder and Managing Director Sandra Waschnewski explained:
"Like many companies, we have been confronted with enormous increases in production and operating costs over the past two years – especially since our production takes place exclusively in Europe. At the same time, in light of inflation, we are seeing a change in demand behavior among consumers, who often want to buy at reduced prices."
Nevertheless, Veloine remains open to discussions with investors. Waschnewski comments:
"We know the brand's great potential. This is confirmed not only by customer feedback but also by the awards we've received in recent years. We will therefore continue to discuss it with potential partners and hope that the brand can continue to thrive."
Veloine's online shop is scheduled to go offline at the end of April. However, according to the company, customer service will remain available beyond that time.
