SGN Group shakes up Swedish sports retail
Finnish family company SGN Group has bought the remaining shares of Swedish sports store chain Sportringen, and it will launch a new sport business group SGN Sport, promising to become a leading player in Swedish sports retail.
SGN Sport will constitute Team Sportia and Sportringen and thus consist of around 370 sports stores in Sweden with a turnover of approximately 450 million euros, making it the second largest sports retailer in Sweden.
Team Sportia and Sportringen will remain separate businesses, although a reshuffling of leadership will see Team Sportia CEO Claes Meldgaard take on the leadership of SGN Sport in the spring 2018, and Sportringen CEO Lars Palmgren will take charge of Team Sportia as well.
SGN Sport will promote a business model where the stores are run by independent entrepreneurs.
“We strongly believe in independent merchants,” says SGN Group CEO Sam Nieminen. “They have strong local knowledge and by nature they focus on customers and their needs in the area. We are now building strong alternatives for centralised sports chains. The unique store concepts we are building will surely be exciting experiences for our customers.”
SGN has also recognised a strong growth opportunity in bicycle retail and will launch a new concept in the spring with the aim of becoming the largest bicycle retailer in Sweden.