Menu
Finance

Sports Retailer Sports Direct Acquires Fashion Chain Republic

Sports retailer Sports Direct has bought the "collapsed youth fashion chain Republic" in a deal that analysts estimate to be worth between £10M ($15.2M) and £15M ($22.8M), according to Duncan Robinson of the FINANCIAL TIMES. The company will acquire 116 of Republic’s stores, "the bulk of its stock and its online business" after the fashion retailer fell into administration in February. Analysts at Citi suggested that the inventory Sports Direct has taken on "could be worth more than the total of cost of the deal." Sports Direct, which has about 400 stores in the U.K., has come to "dominate sports retailing in the U.K., seeing off competitors JJB and JD Sports to become the largest in the U.K." Sports Direct Founder EPL Newcastle United Owner Mike Ashley sold about £100M ($152M) worth of shares in his company earlier this week (FINANCIAL TIMES, 2/28). In London, Marcus Leroux wrote Sports Direct is "keen on acquiring fashion brands and retailers with trading relationships with fashion brands, as it attempts to move beyhond discounted sportswear." It formed a lifestyle division last year with the acquisition of an 80% stake in Tom Hunter’s fashion businesses Cruise and USC. It also bought JJB Sports’ stock, as well as 20 stores, "when its smaller rival went into administration last year" (LONDON TIMES, 2/28).

SBJ Morning Buzzcast: March 25, 2024

NFL meeting preview; MLB's opening week ad effort and remembering Peter Angelos.

Big Get Jay Wright, March Madness is upon us and ESPN locks up CFP

On this week’s pod, our Big Get is CBS Sports college basketball analyst Jay Wright. The NCAA Championship-winning coach shares his insight with SBJ’s Austin Karp on key hoops issues and why being well dressed is an important part of his success. Also on the show, Poynter Institute senior writer Tom Jones shares who he has up and who is down in sports media. Later, SBJ’s Ben Portnoy talks the latest on ESPN’s CFP extension and who CBS, TNT Sports and ESPN need to make deep runs in the men’s and women's NCAA basketball tournaments.

SBJ I Factor: Nana-Yaw Asamoah

SBJ I Factor features an interview with AMB Sports and Entertainment Chief Commercial Office Nana-Yaw Asamoah. Asamoah, who moved over to AMBSE last year after 14 years at the NFL, talks with SBJ’s Ben Fischer about how his role model parents and older sisters pushed him to shrive, how the power of lifelong learning fuels successful people, and why AMBSE was an opportunity he could not pass up. Asamoah is 2021 SBJ Forty Under 40 honoree. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

Shareable URL copied to clipboard!

https://www.sportsbusinessjournal.com/Global/Issues/2013/03/01/Finance/sports-direct.aspx

Sorry, something went wrong with the copy but here is the link for you.

https://www.sportsbusinessjournal.com/Global/Issues/2013/03/01/Finance/sports-direct.aspx

CLOSE