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Sports Direct to invest £20m in Chinese venture

Sports Direct has signed an agreement to supply Chinese multi-brand retailer ITAT with some of its labels.

Sports Direct will invest £20 million in the venture which will see it supply product to ITAT's Super Club stores, via a shop-in-shop concept.

Sports Direct will supply ITAT on a consignment basis and will receive a proportion of sales generated.

Sports Direct said developing international distribution channels for its brands was a key part of its strategy.

Chief executive David Forsey said: "This alliance offers us an ideal opportunity to access ITAT's fast growing store network, and through it, to be able to offer our brands to the Chinese consumer."

ITAT has more than 700 stores and is the largest multi-brand fashion retailer in China. Of those, around 120 are Super Club shops.

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