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

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

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

Flexport

Applicable Industries	Finance & Insurance Transportation
Applicable Functions	Logistics & Transportation
Use Cases	Demand Planning & Forecasting Supply Chain Visibility
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. Read More
About 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. Read More
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. Read More Log in to view content
Contents

Applicable Industries

Finance & Insurance

Transportation

Applicable Functions

Logistics & Transportation

Use Cases

Demand Planning & Forecasting

Supply Chain Visibility

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.

About 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.

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.

Impact #1	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.

Impact #1

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.

Benefit #1	17 total shipments financed by Flexport Capital
Benefit #2	113 total TEUs moved with Flexport
Benefit #3	24% projected year-over-year growth in sales from 2018 to 2019

Benefit #1

17 total shipments financed by Flexport Capital

Benefit #2

113 total TEUs moved with Flexport

Benefit #3

24% projected year-over-year growth in sales from 2018 to 2019

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Overview

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

Operational Impact

Quantitative Benefit