Kick Game considering £150m sale as demand soars

Footwear and streetwear retailer Kick Game has hired advisers to explore strategic options including a £150 million sale, according to a report from Sky News.

Kick Game, which was founded in 2013, has reportedly been working with accountancy firm PricewaterhouseCoopers (PwC) to understand the level of interest from a number of suitors. The process is expected to last several months.

The process highlights the expanding interest in designer and rare trainers and streetwear as an emerging asset class for collectors and traders. Kick Game has seen sales explode since the onset of the pandemic, with the company now targeting sales of £50 million in FY22.

The increased interest and demand has been fuelled by high-profile collaborations with celebrities such as Travis Scott, Kanye West and Serena Williams, with these “hype” editions becoming collectables, akin to art.

Founded by brothers Robert and David Franks, the duo opened their first store in Kensington, followed by a boutique in Mayfair and more recently, a flagship store in Covent Garden. The company recently opened a 3,500 sq ft store at Liverpool ONE, marking the brand’s regional debut and joining stores in London, Manchester, Birmingham and Leeds.

It has also been suggested that Kick Game could opt for a further capital-raise rather than an outright sale.

In September 2021, Kick Game received a £3.5m injection of capital from VGC Partners. The investment will be used to accelerate Kick Game’s online and retail expansion with additional stores planned for the UK and abroad between now and 2023.

The business also has plans to launch a consignment platform to allow customers to resell authenticated in-demand sneakers.