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Sports Direct snaps up majority stakes in Flannels
Jul '12
Sports Direct, a leading sportswear retailer in the UK, has bought a 51 percent majority stake in the Manchester-based fashion chain Flannels at an undisclosed price. 
The Newcastle United owner Mike Ashley’s Sports Direct business operates approximately 400 stores in all over UK. The company offers sportswear and accessories of major brands, including Nike, Adidas, Reebok, Everlast, Lonsdale, Dunlop, Slazenger and Karrimor. 
For the past one year, Sports Direct has been trying to build up a premium clothing line for men and it has already bought stakes in menswear-specialized stores such as, USC and Cruise.
Founded in 1976, Flannels is one of the largest luxurious clothing chains in the UK. It operates through a network of nine shops in Manchester, Leeds, Liverpool, Cardiff and Birmingham. The fashion retailers’ merchandise includes apparels from various designers, such as Dolce & Gabbana, Paul Smith, Tom Ford, Moncler and Burberry.
Besides the UK, Sports Direct also operates stores in Ireland, Belgium, Holland, France, Cyprus, Luxembourg and Slovenia. The firm is currently exploring opportunities to set up its outlets in other countries. 

Fibre2fashion News Desk - India

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