Sport for Business member Lifestyle Sports has reported a 68 percent surge in profits to €6.4 million. The figures relate to the year leading up to September 2016 so will only have been in the early stages of what appears to be a significant upturn in consumer spending on sports goods and leisurewear.
They will though incorporate sales figures from the Irish soccer team’s appearance at the Euro 2016 Finals in France.
The profit comes off record revenue figures of €101.2 million from the company’s 57 stores across the country and its online presence.
Lifestyle is the exclusive retail partner for Leinster Rugby and Munster Rugby and has a retail partnership with Dublin GAA as well, securing the three biggest ‘club’ relationships in Irish sport.
Largest
During the year under review, the company employed 470 full and part-time staff making it one of the largest employers in the sports sector.
It has thrived despite strong competition and similarly strong financial performance from Intersport Elverys, JD Sports and Sports Direct.
The company has invested in its estate and undertaken imaginative promotion around the design and launch of key kits like with Munster Rugby.
It has championed the redesign of sports retail through creating four distinct zones in each of its marquee stores with The Boot Room, Run Club, Trainer Central and Women’s Studio all driving footfall and spend.
Exclusive
The stores stock Adidas, Nike, Under Armour, ASICS, Canterbury, Converse, Ellesse, New Balance and more and is the exclusive retailer in Ireland not only for Munster rugby but also for Skins.
The financial strength of the company will position them well to withstand the entry of French brand Decathlon to the market in the next twelve months.
They have established a team on the ground in Ireland for the first time and Sport for Business understands they are in detailed discussion about creating their first premises close to the M50 on the North side of Dublin.
Decathlon operates in 44 countries around the world and is a staple stop off point for holidaymakers in France and Spain.
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Image Credit: Sportsfile
