Home / Knowledge / News / Apparel/Garments / Finish Line & GCP tie up for specialty running business
Finish Line & GCP tie up for specialty running business
31
Mar '12
The Finish Line Inc. announced that Gart Capital Partners (GCP) is making a $10 million strategic investment in Finish Line's Running Specialty Group with the goal of creating the nation's single largest operator within the growing specialty running business, a market that has been estimated at up to $1 billion. Finish Line remains majority owner of the Running Specialty Group.

The strategic investment pairs Finish Line, a $1.4 billion national athletic footwear and apparel retailer, with GCP, an equity investment partnership that has a proven track record of successfully executing specialty retail rollups, including a 12-year joint venture with Vail Resorts, Inc. that involved more than 150 ski-related shops generating $200 million in annual sales.

The headquarters of the Running Specialty Group will be relocated to Denver, where GCP will manage all day-to-day operations as well as merchandising and the acquisition of additional running operators from its home base there. Finish Line will continue to leverage its strengths as a leading omni-channel retailer, providing direct logistics, marketing and IT support along with digital expertise. In fact, this spring, the Running Specialty Group will launch Run.com, a digital experience for runners that will be the segment's first to marry content, community and commerce.

For Finish Line, the venture builds upon the 2011 acquisition of an 18-store chain of specialty running shops operating under The Running Company banner. This acquisition represented a first step in pursuing the significant market opportunity within specialty running, which today is a highly fragmented market with limited e-commerce penetration.

“We are excited to take our specialty running growth plans to the next level with GCP,” said Finish Line Chairman and Chief Executive Officer Glenn Lyon. “Like the ski retail business, customers within specialty running prize a shopping experience that is expert, highly localized and infused with the sport's unique culture.”

“Maintaining the individual personality of each running store concept, while providing the synergies of larger-operator systems and back office support, is critical for success. GCP has a proven track record of demonstrating that these principles can be maintained while simultaneously executing a successful rollup strategy. We look forward to growing this business with GCP and are confident that our association will accelerate progress and perhaps serve as an incubator for expansion outside of specialty running down the road.”

“We are excited to partner with Finish Line to create this innovative approach toward growth in the running specialty channel,” said GCP Partner Ken Gart. “We bring the ability to celebrate the unique culture of independent running stores and maintain what makes them great in their local markets while Finish Line brings the efficiencies of a large scale and expertly run retail operation.”

Must ReadView All

Textiles | On 21st Feb 2017

Net profit at Indorama Ventures zooms 145% in 2016

Net profit at Thailand headquartered and Aloke Lohia led Indorama...

Information Technology | On 21st Feb 2017

ThreadSol launches IntelloBuy & IntelloCut in Vietnam

ThreadSol, the pioneer of enterprise material management for sewn...

Textiles | On 21st Feb 2017

GST to reduce documentation for logistics firms: CBRE

The Goods and Services Tax (GST) is likely to result in a reduction...

Interviews View All

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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
February 2017

February 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search