Young fashion giant JD Sports Fashion has bought an 80% stake in Kukri Sports, the bespoke sports kit website, for in excess of £1m.
The remaining 20% of the business is held by group managing director, Phil Morris. Kukri said with JD’s backing and international brand experience, the company would be able to further strengthen its service to universities, schools and team-wear markets.
Kukri generated a turnover of £13m for the year to April 30 2010. It has 50,000 customers and offices in eight different countries including Hong Kong, Australia, New Zealand and the Republic of Ireland and supplies more than 75 different sports.
Morris said: “We have trail-blazed the team-wear market for 12 years and we are delighted that we have now found a partner that will give us the financial platform to further the bespoke offering and unique service that our customers have grown to love.”
JD Sports executive chairman Peter Cowgill added: “We are delighted to join forces with Kukri and support the continued development of the business. They are forward thinking, innovative and fun – something we look for in a successful brand.”