Flexport > Case Studies > How Solé Bicycles Achieved 24% Year-Over-Year Growth with Flexport Capital

How Solé Bicycles Achieved 24% Year-Over-Year Growth with Flexport Capital

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Applicable Industries
  • Finance & Insurance
  • Transportation
Applicable Functions
  • Logistics & Transportation
Use Cases
  • Demand Planning & Forecasting
  • Supply Chain Visibility
About The Customer
Solé Bicycles is a bike retailer based in Venice Beach. The company creates fashionable, affordable bicycles that cater to the fun-loving lifestyle of its customers. Solé Bicycles sells its products direct-to-consumer online and in-store, as well as wholesale to corporate partners. The company is constantly finding creative ways to grow its brand. The President of Solé Bicycles, Jimmy Standley, leads the company’s financial and operational strategy, which includes managing Solé’s global network of manufacturers.
The Challenge
Solé Bicycles, a Venice Beach-based bike retailer, was facing complexities in its finances and supply chain due to the growing demand for its products. The traditional supply chain payment flows were causing working capital constraints, forcing the company to make tough trade-offs and limiting its ability to invest in growth. The company's President, Jimmy Standley, was managing Solé’s global network of manufacturers and was finding it difficult to build relationships with multiple forwarders. The process was time-consuming, lacked transparency, and was primarily managed over spreadsheets and emails.
The Solution
Solé Bicycles partnered with Flexport, a modern freight forwarding and financing solution provider, to overcome its challenges. Flexport offered a series of shipments financed by Flexport Capital, providing Solé with additional capital and the freedom to invest in growing their business. Standley switched to exclusively working with Flexport in 2015, which significantly improved the efficiency and transparency of their operations. The company was able to manage their shipments on Flexport's platform, which provided a quicker and more streamlined process. Additionally, Flexport Capital offered fast and affordable financing solutions, which helped Solé overcome their supply chain cash flow issues.
Operational Impact
  • The partnership with Flexport brought significant operational improvements for Solé Bicycles. The process of managing shipments became quicker and more efficient, with everything happening on Flexport's platform. This provided a level of transparency that was previously lacking when working with multiple forwarders. The company also found it easier to build a relationship with Flexport, as there was always someone they could reach out to and talk to. The most frictionless piece of their supply chain became their freight forwarder. Additionally, the fast and affordable financing solutions offered by Flexport Capital helped Solé overcome their supply chain cash flow issues, enabling them to meet the growing demand for their products.
Quantitative Benefit
  • 17 total shipments financed by Flexport Capital
  • 113 total TEUs moved with Flexport
  • 24% projected year-over-year growth in sales from 2018 to 2019

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