Findel considers further developing its supply arrangement with Sports Direct
Findel is considering further developing the commercial supply arrangements between its Express Gifts business and its largest shareholder, Sports Direct International.
The move follows recent pilot-scale commercial tests of SDI-licensed clothing brands on Express Gifts' Studio.co.uk website which were designed to strengthen Express Gifts' product offer for value-conscious customers. Findel and SDI have now agreed to explore ways to further develop these joint commercial opportunities.
As part of the discussions, Findel’s board has agreed that Liam Rowley, head of strategic investments for SDI, will attend its board meetings as an observer.
Phil Maudsley, chief executive of Findel, said: "Express Gifts continues to make strong progress in becoming an online value retailer of real scale. We look forward to exploring with Sports Direct the opportunities available for commercial supply arrangements, which we believe will further fuel the strong growth of Express Gifts and complement our digital transformation."
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