The British retail group Marks & Spencer Plc (M&S) has expanded its portfolio in the high-growth activewear segment. On Wednesday, the company announced a “strategic investment” in online retailer The Sports Edit. The terms of the transaction stipulate that Marks & Spencer will ultimately take over 100 percent of the e-commerce specialist, the group said. Financial details were not released.
The Sports Edit was founded in 2015 by Nick Paulson-Ellis. Marks & Spencer announced that the platform focuses on premium sportswear, athleisure and yoga clothing from selected established and emerging brands. After the investment that has now been announced, Paulson-Ellis will continue to run the online retailer “independently as CEO”, but with the additional funding and access to Marks & Spencer’s infrastructure and skills, he will support The Sports Edit to continue to grow group.
With the acquisition, Marks & Spencer is further expanding its Brands at M&S segment. As part of the current strategy, the group had recently taken over the Jaeger label and established close relationships with high-growth fashion brands such as Nobody’s Child through investments and collaborations.
Katie Bickerstaffe, COO of Marks & Spencer, explained the group’s goals: “The development of the ‘Brands at M&S’ platform is just one example of how we are shaping the future of M&S. Investing in digital and emerging brands is an important way to explore growth categories and ultimately shape our offering in a way that will continue to be relevant to our broad customer base in the future,” she said in a statement.