Czech Republic’s biggest sporting goods chain up for sale

Sportisimo, the Czech Republic’s biggest sporting goods chain, has apparently been put up for sale according to Hospodarske Noviny, a financial daily. It is still unclear whether the majority owner, Thai Ngoc Nguyen who owns 48%, is going to sell his share or keep hold for the time being. Sportisimo was founded in Czech Republic by owners of Vietnamese descent, Do Hong Son and That Ngoc Nguyen. The company started with just one store in Brno in 2000 and has since gone from strength to strength and now have just over 100 stores around the country as well as in Slovakia and Poland. The owners are reportedly looking for around five billion crowns (€185 million) in return for the company.

Sportisimo has become the biggest sporting goods chain in Czech beating their entire competitor’s, Hudy Sport, A3, Hervis Sport and Intersport, sales revenues combined. Operating profits were thought to be around 281 million crowns (€10.5 million) last year which was a 70% rise from the previous year.

Erste Corporate Banking, have been chosen to help with the sale according to the daily and it seems as though capital funds have been targeted as far as a potential buyer goes. Both owners, who are known for staying away from the media, are yet to comment on the situation. The current owners have been complimented in the past for getting into the market ‘early and effectively’. Their main focus has been on the mass market, attempting to offer a wide selection of products at an affordable price. Sportisimo watched as other similar companies failed and folded but themselves continued to grow in size and strength.

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