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news
Sports_Direct_-_Forster_Square_Retail_Park_-_geograph.org_.uk_-_1156689 - CC BY SA 2.0 by Betty Longbottom.jpgSports Direct moves into premium cycling retail through TRI UK
Sports Direct, the stack-it-high-and-sell-it-cheap chain controlled by Mike Ashley, has made a major move into the higher end of the cycling market with the acquisition of Yeovil-based retailer TRI UK.
Cycling Industry News reported on Sunday that Sports Direct International plc, acting through its subsidiary Sportsdirect.com Retail, had acquired the entire share capital of the tri-sports retailer, which trades from a 17,000 square foot store in Yeovil, Somerset.
According to BikeBiz, the new owners have plans for a 25,000 square foot store in Nottinghamshire, opening next January near Sport’s Direct’s own headquarters in Derbyshire, and four further stores are also planned.
Those will be in Oxford and in Kent, both scheduled to open in 2018, which will be followed by outlets in Edinburgh and Belfast.
Initially founded as Mike Ashley Sports in Maidenhead, Berkshire in 1982, Sports Direct is now the largest sporting goods retailer in the UK, with turnover of £3.2 billion in the year to April 2017 and pre-tax profit of £282 million.
The previously secretive Ashley burst into the spotlight after his acquisition of Newcastle United FC in 2007, although earlier this month he revealed that he is seeking a buyer for the club.
The business has grown in part by buying a variety of sports and outdoor brands including Donnay, Karrimor and Lonsdale, and it also owns the Muddy Fox bicycle brand
It has almost 500 stores in the UK where, besides the Sports Direct fascia, it also trades through the Field & Trek and USC chains, among others, and also operates around 280 stores elsewhere in Europe.
The company is looking to move upmarket to position itself as “The Selfridges of sports retail.”
However, it continues to come under criticism for its widespread use of zero hours contracts, allegations of poor pay and working conditions, and perceived lack of compliance with the standards of corporate governance required of a publicly listed company.
Major brands sold through TRI UK include Cannondale, Cervelo and sister brand Focus – both are owned by PON Holdings – Giant and Scott.
Russell Merry of Cannondale owner Cycling Sports Group (CSG) said “We are pleased to be a partner in TRI UK’s expansion plans.
“The cycle retail industry is constantly evolving and we are excited to be a part of the next stage of TRI UK’s growth.
“To have such a large amount of retail space for our Cannondale brand will enable us to showcase to customers the full breadth of the range – all under one roof! I am confident that the customer experience will be fantastic!”
Chris Needs, UK Country Manager for PON, commented: “Working with both brands it helps when we have retailers that are also performance focused.
“We have been working with TRI UK for many years now and they have always had that focus.
“Five weeks ago Cervélo awarded TRI UK ‘Best P5X Performance dealer in Europe’. So we are looking forward to supporting TRI UK with their expansion where possible for 2018 and beyond.”
Simon joined road.cc as news editor in 2009 and is now the site’s community editor, acting as a link between the team producing the content and our readers. A law and languages graduate, published translator and former retail analyst, he has reported on issues as diverse as cycling-related court cases, anti-doping investigations, the latest developments in the bike industry and the sport’s biggest races. Now back in London full-time after 15 years living in Oxford and Cambridge, he loves cycling along the Thames but misses having his former riding buddy, Elodie the miniature schnauzer, in the basket in front of him.
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16 comments
Its an odd strategy isn't it, went to sports direct once, realised the brands in there were now utter shite, and never been back. Whereas if the quality was good, like Decathlon, they would get customer loyalty.
To be fair most of the 'brands' they buy have already had their day and can no longer shift units at premium prices anymore. Look at Firetrap, once an expensive label but people found other expensive labels and it got bought up but it was already done in the fashion world.
I remember from the skateboarding days in the 80s and 90s when Airwalk shoes and gear was premium, Vans level prices, a bit like Vision Street Wear (another Sports Direct briefly rolled out purchase) and I would pay £60 for them. Now they're about £20 and are just a name not a product with a targeted market.
Oh happy days
Some Karrimor stuff is decent by the way. A pair of trail running shoes for about £30, can't fault them at all. Could've paid £130 for some Solomon jobs but an average joe like me would be none the wiser.
For my brothers's stag do we each had £15 each to kit ourselves out with an outfit from Sports Direct, very funny. Looked like Tyson Fury and his mates on a day out.
Cheers
Lets hope it doesn't go the way of Sweatshop. Used to be a good running shop then sports direct stepped in. Now they suffer from limited range, endless pushing of their own brands, farcical returns policy and constant 'sales' meaning its impossible to buy what you want most of the time.
Interestingly in the "About us" on their website there's lots of mention of Chris Brasher and Roger Bannister but nothing of Mike Ashley.
Wikipedia sums it up well:
In 2014 Sports Direct became a major share holder.
Sweatshop was voted "best retailer" by readers and website visitors of the British edition of Runner's World magazine each year from 2008 to 2013.
As a Tri Uk customer, I don't want to line Mike Ashley's pockets so I won't be buying anything from there again.
To be fair I didn't much like the previous owner, but as my local Tri shop, it's the only place I'd buy my suits from especially the end of season hire stuff was a bargain.
I won't touch the place again, I will probably pop in to have a look, but I'm fairly certain it will be full of like other people have said their dire own brand crap, and a blanket no returns policy.
Tri Uk have given fantastic customer service. I wonder what the future will hold.
Nick
Karrimor and Field & Trek - once decent brands now trading on a par with a market stall in the rain, if that.
Same could be said about muddy fox. Is this really the retail strategy the likes of Cannondale and cervelo want?
That's his standard MO. Take a valuable, much-loved brand and make the products progressively more cheaply, with low quality materials and design, until the brand is worth nothing at which point you buy - or licence, see Land Rover "bikes" - another.
He hasn't bought Cannondale and Cervelo. he has bought a retail outlet that sells these bikes. If he goes downmarket the brands he doesn't own can pull their arrangment.
That is not the same as the brands he has bought. Names you know, think that might be a good price and then realise they are now just cheap shit once bought and not a bargain. That has been part of his retail strategy.
Ashley must go...
I don't care how they want to position themselves - the way that Sports Direct treats it's staff is scandalous and Ashley's contempt for them and practically everyone else means I will not be shopping there.
“To have such a large amount of retail space for our Cannondale brand will enable us to showcase to customers the full breadth of the range – all under one roof! I am confident that the customer experience will be fantastic!”
I bet the current staff at TRI UK won't be that optimistic about their 'experience'. Also, had to laugh at 'The company is looking to move upmarket to position itself as “The Selfridges of sports retail.”', given it's currently the Lidl of Sports retailing. Actually that's insulting to Lidl, more the Poundland...
I thought the figures were swapped around - they're not. Road.cc have dropped three zeroes off the turnover:
Group revenue increased by 11.7% to £3,245.3m in the year.
Source: http://www.sportsdirectplc.com/~/media/Files/S/Sports-Direct/preliminary...
Good accounting that!