Lids is to withdraw from the UK

US sportswear retailer Lids is reportedly close to pulling out of the UK market just three years after opening its first stores.

According to the business magazine Drapers, the company is currently in negotiations with landlords to end rental agreements early. All Lids stores in the UK are expected to close following completion of the deals.

Lids opened its first stores in the UK in December 2021 and has since expanded its brick-and-mortar retail network to 20 stores. When contacted by Drapers, the company declined to comment on the reports.

Meanwhile, the UK market remains strategically important for Lids’ parent company, Fanatics. This is underlined by speculated plans to open its own store in the region for the first time. Although details of the planned store are not yet known, Retail Week reports that a location in London is being considered for the opening. It would be Fanatics’ first standalone store on a high street, having previously only relied on stadiums and sports venues as retail locations.

The planned opening would further expand Fanatics’ presence in the UK. The market was tapped in 2016 when the company acquired competitor Kitbag. Since then, Fanatics has consolidated its position in the region through various partnerships, including a collaboration with the Football Association (FA). This partnership was recently expanded so that Fanatics now has the e-commerce rights for the official online store of the England national team as well as physical stores at England home games.