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Intersport Spain seeks voluntary administration to ensure business continuity

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Nazia BIBI KEENOO

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February 27, 2025

Intersport Spain has filed for voluntary administration in a Barcelona commercial court, aiming to sustain operations and secure its future, the company announced in a statement. The sporting goods retailer previously raised €8 million in a capital increase last October.

Intersport’s store at Oasiz Madrid. – Intersport

“We are not in a liquidation scenario. We remain fully operational, continue purchasing inventory, and supplying our partners, having entered this process from a favorable position,” said Rafael Barbé, general manager of Intersport Spain.

According to the statement, the company has faced financial difficulties for more than seven years due to various challenges that were only partially addressed. This has led to an unsustainable level of financial debt, making a deep restructuring essential to ensure the business’s long-term viability.

Intersport Spain’s net financial debt is currently under €14 million, and the company remains up to date with payments to public administrations and employee salaries.

“We are working on a viability plan that will enable realistic negotiations with creditors to restructure our debt,” Barbé added. Intersport Spain also emphasized that the mechanism it has adopted, in accordance with the September 2022 insolvency law, allows financially distressed companies to renegotiate their debts and restructure their operations with greater safeguards, ensuring long-term viability and avoiding liquidation.

Operating a network of 130 franchise stores and employing more than 130 people in Spain, Intersport Spain generated €67.5 million in revenue in 2023, a 6% decline from the previous year.

In recent months, the company has undergone several leadership changes. In March 2024, it announced the departure of its general manager after just one year in the role, followed by the appointment of a new business director in June. On a global scale, Intersport International confirmed the departure of its CEO, Steve Evers, in December.

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Frasers Group unveils 10-year strategic deal with GMG for Gulf, Egypt

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February 27, 2025

Frasers Group may be most closely linked with its UK retail businesses but the company also operates beyond Britain and its latest development is a 10-year strategic retail partnership with GMG for the Gulf region and Egypt.

It said it has an “ambitious expansion plan” that’s set to increase Frasers Group’s footprint there. The key focus will be Sports Direct, its giant sports chain.

GMG is a global retailer, distributor and manufacturer of international and home-grown brands across sport, lifestyle, health & beauty and more with a particularly strong presence in the Gulf, North Africa and Southeast Asia.

In those markets it’s a key distributor and operator of Nike stores as well as its home-grown multibrand sports retailer Sun & Sand Sports, among others. 

So it clearly has the clout Frasers wants in those regions and the UK firm said the plan is to build up its retail presence in the next five years with 50 stores as the target.

Frasers CEO Michael Murray said: “GMG is an unrivalled retailer in the region, operating and distributing an incredible portfolio of global brands in markets where we see real growth potential, particularly in sports and lifestyle. By leveraging GMG’s scale, deep retail expertise and market knowledge, our partnership will support the growth of our Sports Direct brand in the Gulf and in Egypt.”

And Mohammad A Baker, deputy chairman and CEO of GMG, that the collaboration “represents not just a key milestone but a strategic expansion that underscores our commitment to redefine the sports arena across all markets in which we operate. By introducing Sports Direct, a flagship brand in the industry, we are further positioning ourselves as a dominant force within the retail sports industry”.

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Levi’s, Beyoncé and Selfridges come together for major storefront takeover

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February 27, 2025

Selfridges continues to be the key destination in London’s West End for high-profile events, takeovers, pop-ups, installations and more and the latest development is further evidence of that — Levi’s has unveiled a unique storefront takeover there, the largest of its kind in Europe.

Levi’s

It’s in celebration of the campaign launch of REIIMAGINE Chapter II, featuring another big name, Beyoncé. 

The new collaboration on Oxford Street — London’s and Europe’s busiest shopping thoroughfare — “sees Levi’s reaffirming its place at the centre of culture and its continued commitment to creating elevated experiences through wholesale partnerships”, we’re told. 

With windows featuring Beyoncé clad in allover denim superimposed on a red neon light outline of the superstar on horseback, it’s an unmissable takeover.

The brand also plans to open a shop-in-shop in the department store in May, but this is about more than just a campaign and a pop-up. Instead it’s a more permanent plank in the label’s strategy with the company saying the Selfridges deal affirms “that wholesale remains a key pillar of Levi’s DTC-first strategy”.  

Lucia Marcuzzo, MD of Europe at Levi Strauss & Co, said of all this: “At Levi’s, DTC-first doesn’t mean DTC-only. This collaboration with Selfridges is a perfect example of how we’re elevating wholesale partnerships. We’re meeting our consumers wherever they are with curated product storytelling and an exceptional retail experience at the heart of London’s fashion scene. With the Levi’s ‘shop-in-shop’ opening in Selfridges in May, this is just the beginning — there’s much more to come as we continue to deepen our relationships with key wholesale partners.”

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TALA’s first store to open on Carnaby Street

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February 27, 2025

Digital sportswear brand TALA has chosen London’s famous Carnaby Street for its first UK flagship store, scheduled for a May opening. 

Founded by entrepreneur Grace Beverley and led by CEO Morgan Fowles, the label’s 2,000 sq ft, double-fronted store will span two levels “mark[ing] a significant milestone in [its] transformation from a leading e-commerce brand to a prominent player in the physical retail landscape”. 

We’re told the new space will provide “an immersive, hands-on experience, building deeper interaction with TALA’s highly engaged community”, featuring the brand’s “bestselling collections”, from its “innovative” new Airform collection and “sell-out” outerwear to its “cult-favourite” DayFlex and 365 Collections. 

And it’s that “engaged community” that has “built a reputation for turning digital demand into retail success”, demonstrated through a “standout partnership” across the Selfridges store chain, which began in spring 2024. 

The flagship Carnaby Street store therefore marks the next phase of its expansion, “responding to increasing consumer demand for tactile, immersive and experiential shopping”, it noted. 

The expansion builds on its “ambitious growth strategy”, made possible by the brand’s latest £5 million funding round, led by Pembroke VCT/Venrex/ Active Partners last summer “to explore opportunities for a physical retail presence and continue scaling domestically and internationally”.

Fowles added: “Carnaby Street has long been a destination for innovative and leading brands, and this location allows us to engage directly with customers… [who] have told us resoundingly, including via our success at Selfridges stores across the UK, that they still love shopping in physical stores.”

William Oliver, director of Retail at Shaftesbury Capital, added: “Fashion innovation has always been in Carnaby Street’s foundations; it’s what sets this destination apart, ensuring it can maintain its reputation as one of the most forward-thinking retail experiences anywhere in the world. Introducing a TALA flagship here is recognition of how important physical retail is for digitally native brands and Carnaby Street’s unique ability to champion leading innovators while creating a quality, exciting offer for its international catchment.”

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