SOLA received an attractive offer from its new landlord following the sale of the building in late 2017 and has taken the decision to consolidate its retail trading to the two closest retail stores, being Le Spit Cycles in Mosman on the lower North Shore and Cheeky Velosport in Randwick in Eastern Sydney.
The CEO of SOLA Sport, George Nisbet had this to say about the news:
“What an incredible five years it has been having had the opportunity to own our first retail store and use it as the learning curve to learn about bicycle retail, become better equipped to understand the consumers who buy our products, get closer to our supplier partners in our industry and learn the commercial side of retail that has allowed us the opportunity to grow to four stores in five years! We have another two stores in very close proximity to Atelier de Velo and with the option to move the business to these other stores which are not far away, it became an easy decision once we evaluated the landlord’s offer.
The idea of going into retail in 2012 was born from two main factors:
- We were concerned that there was no store in Australia that carried our full range of Bianchi bicycles as a showroom to the consumers. Online retail was really ramping up and we saw the opportunity in the city as a showroom to showcase our brands to the CBD community;
- The second reason was that there was a significant increase in the number of stores closing in Sydney at that time and we figured that if we could make the model work in Sydney with high rents and high staff costs then the model could be replicated in any other state where these barrier to entry are lower.
Fast forward five years and there is no question that “bricks and mortar” retail in all industries in Australia has become tougher and our rationale to consolidate trading is not unlike many of the retail chains currently in Australia right now.
We are keeping and transferring all of our staff to Le Spit Cycles over the next month. I would personally like to thank all of our staff who have done an incredible job over the 5 years to support and grow the store, not only retail staff but also our wholesale business staff who support the back end of the retail trading business!
To all of our suppliers in bicycle wholesale, who have been with us from the start, supporting us in our multi-brand retail strategy and a special thanks to Pon bike for Cervelo and Focus, Bikesportz, Shimano, Jetblack, Monza, Pedla and many others, we will continue to be partners in our continuing retail business!”
Atelier de Velo will be running a closing down sale until the end of the May and any remaining stock will be transferred to the other three store locations. All suppliers and customers have been contacted to notify them of the move and the other store locations in the group, any queries should be directed to SOLA Sport on 02 - 8379 0600.