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Sports Direct raises US sportswear stakes

Sports Direct has increased its investment in US brand Iconix and sportswear chain Finish Line, weeks after making a similar move in the market.

Sports Direct has more than doubled its stake in retailer Finish Line to 18.85%, which stocks brands including Adidas, Nike and Under Armour.

It also now has a 13.25% stake in Iconix, which owns and markets brands including Umbro, Lee Cooper, Badgely Mischka and Ed Hardy.

Sports Direct had initially taken a 9.2% stake in Finish Line in May, while raising its existing stake in Iconix to 12.2%.

Sports Direct reiterated that the increased investment was made to “build a relationship and develop commercial partnerships” with key suppliers, brands and other relevant parties.

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