LONDONDERRY, N.H. (BRAIN) — Velocio Apparel has closed a Series A investment round led by Steve Fuller, the former chief marketing officer at L.L. Bean.
Fuller led a three-person investor group. He said he was attracted to the brand's product quality and growth.
Fuller said, "As cycling enthusiasts, we're extremely enthusiastic by what we've seen from Velocio. The product is truly unique in the marketplace and early reception from customers and the trade has been impressive. We're looking forward to helping the company reach its potential."
Velocio was founded in 2014 by Brad Sheehan and Kristy Scrymgeour. Sheehan is the company's CEO. Scrymgeour, now living in her native Australia, continues to maintain an ownership stake in the brand but has stepped back from day-to-day operations.
Fuller said his group's belief in the continued importance of independent retailers was reflected in Velocio's focus.
Velocio co-owner and director of retail sales Olivia Dillon said, "Having the support of this group means more resources for our dealers. We've grown steadily because of a balanced approach to sales via community-oriented retailers alongside direct-to-consumer (sales), and it is clear that our new investors value that."
The company also announced that it had hired Laura Spencer as its director of sales and marketing. Spencer was most recently a senior regional sales manager for GU Energy Labs.
Spencer said, "(Velocio's) product and its beautiful aesthetics were what initially sparked my interest. But the people behind the product, their socially responsible ethos and desire to enhance the riding experience — each of those created a compelling story that I knew was an opportunity I couldn't pass up."
Velocio's apparel is designed in New England and manufactured in Italy. The staff is split between New England and Northern California.
More information at velocio.cc.
