Tue, 11 May 2021 | BUSINESS SALE
Sports retailer JD Sports has continued its acquisition spree with a takeover of Manchester-based clothing boutique Oi Polloi. The deal, which was revealed in filings at Companies House, was for an undisclosed amount and sees JD Sports acquire Oi Polloi’s Manchester shop and online assets.
The deal comes during a period of solid acquisitive activity for JD Sports. In December 2020, the company acquired US shoe retailer Shoe Palace, before moving for UK menswear retailer Wellgosh in January 2021. The company then acquired a 60 per cent stake in Polish fashion e-commerce leader Marketing Investment Group (MIG).
In February, JD Sports acquired US sportswear retailer DTLR Villa for £364 million. Later that month, it announced it had raised £464 million via a share placing to fund ongoing acquisition opportunities.
JD Sports CEO Peter Cowgill has been appointed a director of Oi Polloi, with founders Steve Sanderson and Nigel Lawson reportedly set to step away from the business.
Sanderson and Lawson began Oi Polloi more than 20 years ago with a store in Manchester’s Northern Quarter. The company has since grown into a cult menswear boutique, selling brands including Levi’s, Adidas, Stone Island, Ralph Lauren and Reebok.
The company opened a store in Soho, London in 2015, which then relocated to Seven Dials in 2019, before closing earlier this year. This closure left the original Manchester store as Oi Polloi’s only physical outlet, alongside its sizeable online operation.
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