Online value retail and education business Findel is exploring the possibility of further developing the commercial supply arrangements between its largest subsidiary – Express Gifts – and UK sportswear retailer Sports Direct International.
One of the largest online value retailers in the UK, according to Findel, Express Gifts provides a personal shopping service to about 1.5m customers each year through a combination of direct marketing and online via the studio.co.uk and ace.co.uk websites.
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Now, Findel says its board is looking into furthering a relationship with Sports Direct following recent pilot-scale commercial tests of Sports Direct-licensed clothing brands on Express Gifts’ Studio.co.uk website.
As part of these discussions, Findel has agreed Liam Rowley, head of strategic investments for Sports Direct, will attend board meetings as an observer. The role, which will be taken up with immediate effect, does not constitute a seat on the board nor does it entitle Rowley to vote on any matters under discussion. Appropriate confidentiality agreements and arrangements for dealing with conflicts of interest are also in place.
“Express Gifts continues to make strong progress in becoming an online value retailer of real scale. We look forward to exploring with Sports Direct the opportunities available for commercial supply arrangements, which we believe will further fuel the strong growth of Express Gifts and complement our digital transformation,” says Findel CEO Phil Maudsley.
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