21sportsgroup, the expansive German retail group, has drawn €15 million in fresh capital from ESO Capital to support its growth. The group indicates that the money is chiefly earmarked for further international expansion. Specializing in running, cycling, triathlon, outdoor and action sports products, 21sportsgroup is the company behind several multichannel retailers, such as 21run, 21cycles and Planet Sports. The German firm expanded earlier this year with the acquisition of Vaola, a German online sports retailer focusing on outdoor, running and football products. Its online business is complemented with 14 own flagship stores and Clubsale, a shopping club. The largest European markets for the group are the German-speaking countries, France, the Benelux countries, Italy and Spain, but 21sportsgroup has set itself a target to become Europe's leading online retailer specialising in sports products. Its managers said in a statement that ESO Capital neatly complements the capital structure and the individual investors who took part in a financing round in the double-digit million euro range earlier this year. At the time, with the extra financial backing, 21sportsgroup was projecting sales of €125 million this year, compared with more than €100 million in 2015. Two months ago the group also announced a management change as Michael Burk was appointed chief executive at 21sportsgroup. Jörg Mayer, the founder and largest shareholder of the online sports retailer, became chairman of the supervisory board.

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