SAN DIEGO, CA (BRAIN)—Competitor Group has sold VeloGear for an unspecified amount to Midwest Cycling, which will now be called Midwest Velo as a result of the transaction.
VeloGear will continue to operate out of Boulder, Colorado. "Customers won't initially notice a lot of change. What they will notice over time is an improved online retail experience. VeloGear gives us a great online platform to offer cyclists a one-stop shopping experience to find those lifestyle items you simply can't find anywhere else,” a company press release stated. Midwest Velo declined to comment further for this story.
Competitor Group announced in October that it was putting the 15-year-old catalog operation up for sale.
“Being in the merchandise business wasn’t a good fit for us,” said Scott Dickey, chief operating officer for Competitor. “We want to have a media and events focus.”
Competitor is living up to Dickey’s words. Competitor is soft launching in June a new Web site, Competitor.com, with the intentions of ramping up for this year’s Tour de France, according to Dickey.
The site will focus on the “endurance athlete” with editorial content focusing on tri, cycling and running, Dickey said. Competitor owns VeloNews, Inside Triathlon, Triathlete and Competitor magazines.
For more on what Competitor has going on for 2009, be sure to read the March 15 issue of Bicycle Retailer and Industry News.