THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
Interviews
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Sports Direct acquires majority stake in Flannels

Sporting goods retailer Sports Direct has bought a majority stake in the Flannels luxury fashion chain.

GENERAL MERCHANDISE

Sports Direct acquires majority stake in Flannels

Sporting goods retailer Sports Direct has bought a majority stake in the Flannels luxury fashion chain.

The company has acquired a 51% stake in the business for an undisclosed sum. Neil Prosser, the Flannels founder, will remain as managing director of the business with a holding of 49%.

Commenting on the acquisition, Sports Direct chief executive Dave Forsey said: "Flannels is a fantastic business and a perfect fit alongside Cruise and Van Mildert within our premium lifestyle division.

"We look forward to working with Neil and his team to build an even stronger business over the coming years."

Founded in 1976, Flannels has six UK stores in Manchester, Leeds, Nottingham, Liverpool, Birmingham and Cardiff. 

Selling brands such as Dolce & Gabbana, Tom Ford, Lanvin and Paul Smith, the company reported a pre-tax loss of £256,000 for the year to 31 March 2011.

Prosser said: "This is a very exciting and transformational deal for Flannels and I am delighted to be working with Sports Direct whose track record in building successful partnerships in retail is second to none."

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
The HR Summit 2019
The HR Summit 2019
Tuesday 8 October 2019
The Cavendish Conference Centre, London W1
The 11th HR Summit 2019, The Cavendish Conference Centre, London W1, 8 October 2019
AI in Retail Conference 2019
AI in Retail Conference 2019
16 October 2019
Cavendish Conference Center, 22 Duchess Mews, London W1G 9DT
Digitally native competitors and demanding customers are forcing a new perspective in retail. AI and machine learning can help you step up to the challenges; and some ‘small and beautiful’ solutions can increase your conversion rates within just a few weeks.
Payment Roundtable 2019
Payment Roundtable 2019
6 February 2019
The Cavendish Conference Centre, 22 Duchess Mews, London W1G 9DT
The Retail Bulletin Payment Roundtable will raise debate and discussion centred on but not exclusive to improving the in-store payment process