Veloine has been on the market since 2019 and offers cycling apparel exclusively for women. With the ISPO Brandnew Winner award, the young company received recognition in 2021 for the most exciting newcomers in the sports industry. That same year, the startup won the Eurobike Gold Award for its innovative maternity cycling apparel.
However, Veloine was unable to build on this success. In recent months, the company had been seeking investors but was unable to successfully close its planned financing round. Given the circumstances, the business was not viable to continue.
Co-founder and CEO Sandra Waschnewski explains:
“Like many companies, we faced enormously rising production and operating costs over the past two years – particularly since our production takes place exclusively in Europe. At the same time, in light of inflation, we are seeing changed consumer behavior, with many customers wanting to shop at discounted prices.”
Nevertheless, Veloine remains open to discussions with investors. Waschnewski adds:
“We are aware of the great potential of the brand. This is confirmed not only by customer feedback but also by the awards we have received in recent years. We will therefore continue to hold discussions with potential partners and hope that the brand can continue to exist.”
Veloine’s online shop will go offline at the end of April. According to the company, customer service will remain accessible beyond that point.
