The Sports Edit raises £1m in funding round, plans flagship store
Premium British sportswear retailer The Sports Edit has raised £1m in a round led by former Sainsbury’s CEO Justin King, Lyle & Scott owner Sue Watson and Tristan Capital Partners CEO Ric Lewis.
The money will be used to open a 100,000 sq ft flagship store at Coal Drops Yard in King’s Cross in October, according to wellness news site Welltodo. The store will stock the retailer’s highly curated mix of premium and luxury sportswear including brands such as Adidas by Stella McCartney, Under Armour, PE Nation and Falke.
The Sports Edit is also expanding its e-commerce site, which currently ships to 220 countries. The multi-channel strategy, including a physical store in Chelsea, will help the business accelerate its growth on the back of a 160% increase in e-commerce sales last year, it said.
"The Sports Edit has an excellent opportunity to emerge as a UK and European market leader,” said Tristan CEO Ric Lewis, founder of the retailer, which launched in 2015 with a mission to find brands that “blend supreme style, high performance and enduring quality”.
Ahead of the opening of the flagship, it will also invest in a series of brand launches to keep the selection fresh.
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