{"id":165212,"date":"2021-06-24T12:22:13","date_gmt":"2021-06-24T12:22:13","guid":{"rendered":"https:\/\/www.theindustry.fashion\/sports-direct-looking-at-lots-and-lots-of-stores\/"},"modified":"2021-09-11T14:25:11","modified_gmt":"2021-09-11T14:25:11","slug":"sports-direct-looking-at-lots-and-lots-of-stores","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/sports-direct-looking-at-lots-and-lots-of-stores\/","title":{"rendered":"Sports Direct looking at \u201clots and lots of stores\u201d"},"content":{"rendered":"
Frasers Group\u2019s Sports Direct is reportedly looking to open a number of new stores, including in vacant department stores,<\/strong> as it sees huge opportunities in the many now empty retail sites in the UK and across Europe, brought about by the Coronavirus pandemic.<\/p>\n <\/p>\n Last week, Sports Direct unveiled its newly refurbished Oxford Street flagship store,<\/strong> following a \u00a310m overhaul which includes a \"FIFA Gaming Area\"in partnership with EA Sports and Playstation, a \"Bra Studio\" \u2013 to help women find the right bra and best fit for their sport, a \"My ID\" customisation area and an \"Infinity Mirror Cube\" \u2013 the ultimate selfie booth, as well as some 140 brands. It\u2019s a concept Sports Direct now wants to roll out.<\/p>\n Speaking to Property Week<\/em>, Michael Murray, Group Head of Elevation at Frasers Group, called the store \u201ca pivotal moment in an era of massive change.\u201d<\/strong><\/p>\n He said: \u201cThe beauty with Sports Direct is that we are in a very fortunate and agile position.<\/strong> We\u2019re looking at lots and lots of stores now.<\/p>\n \u201cWe\u2019ve proven the concept works and we have confidence in our concept. Landlords want to work with us and we\u2019ve never been in a better place with our brands<\/strong>. It\u2019s now going to be about how many (stores) can we physically do a year? That\u2019s the big question.\u201d<\/p>\n Looking at the broader picture and the opportunities that have arisen across Europe, with many retailers forced to shut permanently because of the devastating effect of COVID-19, Murray added: \u201cThere\u2019s going to be a huge push into Europe. We\u2019ve got a five-year plan with our brand partners.<\/strong> We want to have this concept in all capital cities around Europe.<\/p>\n \u201cThere\u2019s never been any better opportunity to open new stores. The rents are coming into alignment with what people can afford. Landlords are starting to work with tenants on a turnover basis, and in the long term sharing the upside, sharing the downside and also contributing towards fit-outs and matching out investments.<\/p>\n \u201cSo, there\u2019s been no better time to roll this plan out.<\/strong> If we did it five to six years ago, we would have paid the highest rents in the marketplace.\u201d<\/p>\n Frasers Group signed the lease on the vacant Debenhams store in Galway last month, further signalling its intention of aggressive further expansion while there are good deals to be had.<\/p>\n