Home / Knowledge / News / Apparel/Garments / Sports Direct buys USC & Cruise owned by Sir Tom Hunter
Sports Direct buys USC & Cruise owned by Sir Tom Hunter
06
Jul '11
Sports Direct International plc, the UK's leading sports retailer, announces that it has acquired an 80% shareholding in West Coast Capital (USC) Ltd, a top young branded fashion business, and in Cruise Clothing Ltd, one of the UK's leading independent luxury retailers, for a total cash consideration of £7.0m.

Sir Tom Hunter has been involved with USC since 2004 and he purchased Cruise in December 2010. Sir Tom will continue as a significant investor in both USC and Cruise, retaining a 20% shareholding, and will remain as Chairman of both companies. Sir Tom will also provide strategic guidance to the newly-established Premium and Luxury Lifestyle division of Sports Direct International.

USC currently has 38 stores across the UK and turnover in the 12 months to 30 January 2011 was £70.0 million. Cruise has 10 stores in the UK and an annual turnover of circa £20 million.

Sports Direct will provide a facility of up to £20 million to enable the existing management teams to develop the two businesses, which enjoy premium market positions. New USC stores are due to open in Swindon and Newbury in the autumn of this year. Management will build on excellent supply relationships with brands to enhance store merchandising and stock availability.

Sir Tom Hunter said:

"This deal will transform the prospects for both USC and Cruise and our employees at a time of extraordinary turbulence in the High Street. I've known the Sports Direct team for many years and have huge respect for their talent and look forward to co-investing with them. Sports Direct has a truly exceptional track record in building partnerships with its customers and its staff."

Dave Forsey, Chief Executive of Sports Direct said:


"We are pleased to be taking this opportunity to work with Tom and his teams in the premium and luxury sector of the market. While USC and Cruise will remain independent of Sports Direct, we will support the businesses with our operational expertise."

Sports Direct International plc


Must ReadView All

Textiles | On 20th Sep 2017

India needs to double cotton farmers’ income: top official

India needs to double the income of cotton farmers and non-farmers...

Textiles | On 20th Sep 2017

Pakistan seeks more JVs with China: textile minister

The Pakistani Government wants to forge more joint ventures (JVs)...

Apparel/Garments | On 20th Sep 2017

Egypt’s garment exports touch $941 million in 8 months

Egypt's garment exports touched $941 million in the first eight...

Interviews View All

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search